In the last article, we talked about the meaning of corporate governance along with its formation, framework and functionality. Here’s a quick recap: Corporate governance refers to the set of rules, practices, processes and principles that exist to regulate and operate a company. It helps ensure that the interests of all parties involved such as the shareholders, employees, customers, government and the community are duly fulfilled in a balanced and fair manner. Corporate governance revolves around the 4 basic principles of: 1) Accountability 2) Fairness 3) Responsibility 4) Transparency Now we’ll take a look at how these elements/principles come into play through the Board of Directors and what effects they have on the other stakeholders. 1) Accountability A company is liable and answerable for every action, transaction and decision taken during the course of business. This is the reason why it is of paramount importance to have an extremely reliable and…
All the successful entrepreneurs have shown tremendous consistency in a bid to achieve their goals.…
Putting all your eggs in one basket? Think again!The failure percentage goes sky-high if you only have one big customer or one line of product/service to provide. Operating in such a manner is very irresponsible and risky as an entrepreneur. On the other hand, if you have multiple sources of revenue and multiple customers to rely on, it’s easier to survive failure from a single direction or source. At an early stage in your business, when the cash flow might not be ample for R&D, you have the chance to invest in Intellectual Power of your employees and yourself. Investing in minds and the ideas they produce can help you diversify your business in the following ways: 1) Diversify Your Customer Base Heavily relying on one customer for bulk orders or high-value orders is not a wie strategy. You never know when the customer goes bankrupt or simply decides to…
Kudos to Starbucks India for recognising our planet’s need of the hour and changing customer…
Mindfulness is all about living in the present moment. However, it is tough to do that when we are always in a rush to reach places and do things. Sometimes, we’re pondering over the past, and the other times we are getting anxious about the future. While a lot of people practice the art of being mindful to ease their personal lives, the same principles can also apply to work. The office atmosphere can often be very stressful and hectic with all the upcoming tasks, back-to-back meetings and work pressure. Mindfulness is all about letting go of your stress and anxiety. It helps you focus on your present tasks without wandering or getting distracted which increases your productivity as well. How to Practice Mindfulness At Work A few ways of practicing mindfulness at work include: 1) Journaling Releasing your work pressure and writing down your present tasks in a journal can really…
Patience, persistence and passion, the 3 Ps of success are easier said than done. The power of persistence is often underrated because it is hard to come by naturally and even harder to acquire. Just ask the likes of Thomas Edison, Jack Ma and so many more what it took to keep going despite facing hundreds of setbacks and eventually fulfilling their dreams. The answer? Pure persistence and unparalleled work ethic. Here are a few words of wisdom to inspire you to keep going no matter how tough the road gets: “You never know what’s around the corner. It could be everything. Or it could be nothing. You keep putting one foot in front of the other, and then one day you look back and you’ve climbed a mountain.”― Tom Hiddleston “Keep a little fire burning; however small, however hidden.”― Cormac McCarthy, The Road “The harder you fall, the heavier your heart; the heavier your…