Delhi University students today received lessons of good corporate governance from Infosys founder N R Narayana Murthy who stressed on importance of accountability to every stakeholder.
"Corporate governance is maximizing shareholder value while ensuring there is fairness, transparency and accountability to every stakeholder of a corporate and that is customers, employees, investors, the government of the land and the society," Murthy said while addressing the 4th Annual International Commerce Convention at Delhi School of Economics here.
"Of all these, the most important stakeholder is clearly the society, as society contributes to customers, employees, bureaucrats and investors, society elects politicians and society contributes bureaucrats.
"Therefore, those who aspire to lead a corporation in the path of good corporate governance have to remember that doing good to a corporation has to be in conjunction with doing good to a society," he said.
Murthy noted that one of the very powerful instruments to good corporate governance is to simply ask themselves before making any corporate decision whether it will enhance respect for them and respect for their company in the eyes of the society.
That's when one will be following the best corporate governance principle and best corporate social responsibility, he added.
