At the recently held ‘New India Confluence for Public and Private Enterprises – Governance, Risk and Compliance’ organized by ASSOCHAM India, Dr. Jitendra K. Das, Director at FORE School of Management, New Delhi, referring to a question on autonomy on education said, “Higher education beyond graduation level, should have limited regulations and governance. In a market driven environment the ‘Price – Quality Continuum’ can be differently perceived by different people. Highly priced or expensive programs offered by many foreign academic institutes can be seen in demand while many may prefer a low cost government institute and see the value it offers. But the various regulatory bodies – UGC, MHRD, AICTE which governs the higher education institutions in India often leaves no room when it comes to bringing in changes in the traditional pedagogy, innovations and modern teaching methodologies as practiced by those foreign universities. Indian Institutes can compete with those foreign institutes if given a greater autonomy to change according to the demands of the industry and stay relevant. Beyond graduation level education is an option for people. They may like to choose different price-quality point to meet their objectives.
Thus, a control here on ‘price-quality’ value offer would mean taking away the freedom to choose. High-price education should also be an option available alongside the low-priced ones where one can select the matching value proposition as per his choice. ”
Dr. Das was moderating a session with other panelist on the theme of ‘Corporate Governance’.
Mr. Rajiv Gupta, Senior General Manager (Legal) & Company Secretary, Hitachi India Pvt. Ltd. who spoke on expected performance outcomes – to add value to the efficiency and competitiveness, said, “Corporate Governance is essentially the DNA of the organization. Some of the elements which should be considered in the framework of the corporate governance are accountability, mechanism for monitoring, setting up the boundaries and alignment of objectives. Compliance should be every employee’s ownership.”
Mr. Sanjeev Sood, Senior Vice President, Internal Assurance and Chief Risk Officer, Max Life Insurance Company Ltd. talked about use of technology in enhancing corporate governance in corporate environment, automation and bots and their role in governance. He explained how an organization spread across a larger geographic area with a large sales force, can instantly monitor quality at the field level too, when the parameters set are scrutinized by the tool in real time.
Mr. P M Singh, CEO & Business Editor, News Ink talked about Conformance to the Laws and Regulations -To Improve Transparency through enhanced accountability & control system and cited examples of Harshad Mehta and Satyam Computers as poor corporate governance practices.
The panel deliberated on how technology can influence governance and compliance with set of codes to follow and with the proper use of technology anything can be vetted in real time, which makes the life of the regulator easier when it comes to monitoring.
Dr. Das, a thought leader in policy and reforms who has been associated with various policy and reforms committees of the Government of India, explained how due to lack of governance a top company like Kingfisher had to go down and the absence of ethical conducts puts the entire burden of enforcing such standards on the regulator.