However, transparency in itself is not enough to root out corruption. In countries such as the USA and the UK, ownership of shares in corporations extends over a widespread shareholder base. Secondly , information that is available has to be presented in a manner that is usable by the general populace. Corporate governance practices are associated with the development of financial markets, because higher level of governance in most countries are related to larger securities markets and lower. So, we can say that transparency is a necessary but not sufficient condition to root out corruption. If there is lack of transparency, the management may fill up the seats with those who are willing to pay bribes. At the same time, certain protected sections of the society must be given special attention if there exists a need for the government to help alleviate their economic, social or political standing.
29 The Central Government had setup the Working Group on Right to Information and Promotion of Open and Transparent Government in 1997, which observed âdemocracy means choice and a sound and informed choice is possible only on the basis of knowledge. Impartial enforcement of laws requires an independent judiciary and an impartial and incorruptible police force. . Preston, the World Bank president, categorically stated in hi foreword to Governance and Development, Good governance is an essential complement to sound economic policies. Institutional capacity building has been the central point of discussion and promotion of sound development management by removing, as far as possible, the possibilities of capture of benefits by the socially powerful is underway. . Even as the country ranks right behind the developed nations in terms of economic development, it is still far behind in terms of transparency.
This leaves scope for potential conflict, arising between the interests of essay on transparency in governance the stakeholders in the corporation and the Boards of Directors who could allow their own self-interest to influence organizational decision-making.Download file to see next pagesRead More. Of the principles enumerated thus far, the principle of legitimacy and voice has the strongest claim to universal recognition based on over a half century of United Nations accomplishments in the field of human rights. . Which make the compliance to such principles mandatory, but also soft-law provisions,.e. This may be direct or through legitimate intermediate institutions. One reason for this is that in recent years Governments have become aware of the difficult international situation over which the Indian Government has no control. Transparency in governance also has a positive impact on the efficiency of Government functioning. How to improve your Story Writing Skills? 4, the World Bank defines good governance.the one epitomized by predictable, open, and enlightened policy-making, a bureaucracy imbued with a professional ethos acting in furtherance of the public good, the rule of law, transparent processes, and a strong civil society participating in public affairs. FAQ Blog New Essays Essays Miscellaneous The Newest Essay Topics Index samples by all dates Join us: Copyright StudentShare. On the other hand, if decision-making process is shrouded in secrecy, officers involved will take the onus of an incorrect decision. Transparency in a company is vital because it increases the confidence. Efficient and accountable management by the public sector and a predictable and transparent policy framework are critical to the efficiency of markets and governments, and hence to economic development. . Qualified writers in the subject of politics are ready and waiting to help you with your studies.
At the same time, there is caution in the wind. Such elections are open to all persons without discriminating on sex, race or ethnicity and are without interference or coercion by the government. 12 (4) Elimination of Corruption Good governance also translates into the elimination of corruption to preserve the integrity of democracy. The passage of the Right to information act in 2005 has been a truly revolutionary event, in the sense essay on transparency in governance that it has empowered citizens to seek information on all public matters without asking for justification, sets a time-frame within which. It teaches us that means must not be the ends, and both the means and the ends must be duly understood. But later on after having talks with the management, or on certain conditions having been met, he gives his nod to the project. It requires full protection of human rights, particularly those of the minorities. The study of governance also enables us to effectively factor in the role that must be played by the other players in the arena of governance the role that must be played by the civil society groups and institutions.
Good governance has much to do with the ethical grounding of governance and therefore must be evaluated with reference to specific norms and objectives as may be laid down. Chapter 3 conclusion The study of governance opens up new avenues it enables us to wander into intellectual space where we can search for solutions to the problems that have haunted us for far essay on transparency in governance too long. This ensures that the relationship that exists between a companys board, its management, its shareholders and other stakeholders is a cordial relationship that would last. Six months down the line, the company executing the project files its results with the stock exchanges, in which it is stated that a part of the tender has been allotted to a privately held company. This mediates the differing interests to reach a broad consensus on what is in the best interest of the entire society. It would be appropriate to say that the least transparent Governments exist in the most corrupt countries. The transparency international report in 2008 puts India.85 among 180 countries for corruption which is the direct result of lack of transparency.
Such failures of corporate governance have produced a negative impact on investor confidence and made them question the integrity of information that is essay on transparency in governance provided in the financial statements of a corporate entity.1 The development of corporate governance codes has. Their introduction as a localized experience prevents the alienation of the very people who must reap benefits. Indeed, good governance is pivotal to the development process. Transparency implies that there are no hidden agendas and that clear information is provided, not only on financial and operational aspects but also on the internal processes of management overseeing and control systems. 30 In May 1997, at the Conference of Chief Ministers, transparency in the government was discussed and a statement issues which provided for an Action Plan for Effective and Responsive government at the Central and State levels, while conceding. 9 (2) Independent Judiciary The Rule of Law A crucial aspect of the constitutional mechanism is a system of checks and balances that is imposed upon the different organs of the State. Answer 3 The corporate governance gatekeepers are people who are in position to influence the decisions and activities. By restricting information, people within government become more powerful that those who are without.
Further, in a country like India with a large popular of uneducated and poor people, information has not only to be made available, but he availability of information itself has to be advertised. Advertisements: Take another example of a politician opposing certain project on the behalf of his people. 19 The work should always be oriented towards achieving optimal performance. Apart from looking at the functioning of the given segment of the society from the point of view of its acknowledged stakeholders and beneficiaries and customers and incorporating these perspectives in the course of its actions, it must have. 6, at the outset in the Mission Statement of the report, it clarified that the concept of good governance was much larger than mere administrative reforms as understood in the conventional essay on transparency in governance sense of the term as it covered more ground and substance. 6 Pages(1500 words)Coursework Corporate Governance?
Kuldeep Mathur makes an interesting observation that the government while reacting to this demand raised by the people has in fact met with resistance from within its own members. . While governance is an old concept, its usage, application and underlying meaning have seen dramatic transformation over the years. Must not be condoned. While most of the principles of good governance are found in the Indian legal framework in the form of constitutionally guaranteed safeguards, the governance needs to involve the civil society more actively in the decision making and establish the norms of redressal. But when the process is transparent, people will come to know of the marks obtained by them in the qualifying exams. Add to wishlist, delete from wishlist, cite this document. Image Source: g, while transparency offers great advantages to the people, it also has many benefits for the Government. 10 The rule of law binds the branches of the government together. Governance is the deliberate and conscious management of regime structures for enhancing the public realm. 31 While the Right to Information Act was introduced in 2005, continuous efforts are underway to introduce more accountability and transparency in the system. Soon thereafter, political events took over and no progress was made for nearly a decade, much over the 3 month deadline that had been set. .
Unlike the traditional public administration systems that focused on bureaucracy and the delivery of essay on transparency in governance public services, the governance model envisages public managers as entrepreneurs of a new, leaner and increasingly privatized government adapting to the practices and values of private businesses. . In such a situation, people will not be forced to beg officials for what is their legitimate is clearly evident that transparency in governance improves the quality of governance and leads to lowering of governance and leads to lowering of corruption. You can view samples of our professional work here. The best way to combat corruption is for governments to be open and transparent. Now, although all this information is publicly available, the general public might not be able to access all information, or even deduce the inference of corruption from. Imbibing the principles of good governance shall ensure that India continues to march towards development, while effectively managing its resources and providing the socio-politico-economic rights that the citizens of this country are entitled. This implies a broader outlook towards management of such matters without exclusively restricting it to public administration. As the often"d saying goes, the law is supreme and above all its subjects. Since transparency involves sharing of information meaning most decisions of officials, and important rules and regulations are in the public domain- it thoroughly reduces chances of corruption, nepotism, favoritism, and the like. For example, during the runaway inflation in the middle of last year, the perceived anger against the Government was much less, compared to similar periods of price rise in the past, especially the onion crisis of 1998. The change in the context is primarily seen as an induced effect of the demand generated by the peoples struggle to make the government accountable. In this case, if students with lower marks have been selected, the decision taken by the management can be contested in courts.
Good governance requires fair legal frameworks that are enforced impartially. However, such an election process must be free and fair, where the voters have a choice amongst the candidates and the right to the relevant information concerning the candidates in order to elect the leader who according to them could best serve the government. Such judgment can be based on several criteria participation of citizens, upholding the rule of law, transparency of the system, responsiveness of the authority, consensus oriented policy, equity and inclusiveness of the policy, accountability of the system, strategic vision of the authority, etc. So intermediaries like activists and social workers are needed who can sift through the vast mass of information and collate it into meaningful chunks. While following good governance practices, the government must invest in the people to cultivate a human resource base. Transparency in governance in India has certainly improved in recent years, but a lot is still to be desired. This is not an example of the work produced by our. 21 Get help with your essay today, from our professional essay writers!
It is a matter of strengthening what our Constitution endeavored to provide. It is a change spearheaded by the efforts of the people. For example, after the rules and regulations governing the issue of passport have been put up on the website of the Government, people approaching the passport office already have the required documents like address proof and identity proof. Download full paperFile format:.doc, available for editing, hIDE this paper, gRAB THE best paper.7 of users find it useful. For example, the document for the award of tender for a multi-billion dollar project would be difficult to understand for most people, but newspapers and news channels have people who can understand the nitty-gritty of the complex documents. Others include reviewing the senior executives compensation arrangements, overseeing preparation of the corporations financial. The principles of good governance are a set of principles which have gained popularity in an almost dogmatic sense. For one, people have much greater sense of trust in governments they deem to be transparent and they are more likely to understand if the country is placed in a difficult situation. Cite this document (The, transparency in Corporate. Without certain optimum standards of efficiency, the principles of good governance cannot be attained. Applicants know which are not, and it has become a lot less painstaking task to obtain a passport.
In general, an organization or an institution is accountable to those who will be affected by its decisions or actions. . There is a growing sentiment that the convergence over these principles will result in the governments rising above the challenges before them. In simplistic terms, it means also that sufficient information essay on transparency in governance is provided and that it is provided in easily understandable forms and mediums. . Good governance calls for serving of the stakeholders within a reasonable timeframe which would ensure trust and acceptance of the public. 25.1 Good Governance : Recent Initiatives The pre dominant theme in contemporary debate over administrative reforms in India has been the target of achieving objectives under a regime of good governance. Effective corporate governance enhances investor confidence, enhances competitiveness and ultimately contributes to economic growth.
4 Pages(1000 words) Essay Corporate governance? 7, after all, public accountability and transparency are equally relevant for each one of these institutions on which the society derives pillar-strength. But the most important effect of transparency is on people themselves, especially the disadvantaged lot. 22 Accountability cannot be enforced without transparency and the rule of law. Governance download file to see previous pages Shareholders and investors are being defrauded and deceived on the real status of earning and expenses within the firm through financial statements that are not entirely accurate. Responsiveness of the government can only be tested if there exists meaningful and serious civil society engagement in the public affairs of the State. . (1) Free and Fair Elections Since good governance emphasizes on the significance attached to the right people being involved in the decision making process, a democratic setup where the representatives of the people are in control of the power. Transparency in Corporate Governance Corporate governance is a term that gets used to describe the system through which a company gets controlled and directed. Moreover, robust and open economies would follow which can be trusted by the investors and financial institutions alike, and development shall flourish.
8 The following text shall cover the principles which may be considered as the key principles of good governance in the opinion of the researcher. The right to vote is a constitutionally safeguarded right and is the cornerstone of a democratic society. This is done with the main of financial gains or even avoiding making. Much later, we come to know that the politicians son holds a substantial chunk of this company. 5 Pages(1250 words) Essay corporate governance.conflict of interest. For this we need people who can seek information from required sources, collate it and make it comprehensible to the people who may be affected by such information. Since power can be exercised in any manner as desired, certain principles would be required in order to judge whether the discourse of the power has been made as per certain standards and norms.
It is on the essay on transparency in governance basis of such complete disclosure of information that a meaningful analysis of the Company can be made and outside investors who put their money into an organization can understand its operations clearly and make good investment decisions. As a concept, good governance applies to various and distinct sections of the society; the government, legislature, judiciary, the media, the private sector, the corporate sector, the co-operatives, societies, trusts, organizations and even non-governmental organizations. . These prescriptions were presented by international donor agencies as conditionalities and were expected to be met with compliance. . Various stakeholders ensure that the business is having positive impact on the wider imperatives of social causes like environment, better HR practices, effective CSR practices etc. As the power of all officers and arms of the Government are out in the open, and proper records of all actions of officials are available, it becomes easy to fix responsibility in case of any misdemeanor. The most commonly accepted corporate governance principles include transparency and disclosure, ethical behaviour and integrity, other stakeholders interests, responsibilities and role of the board, and the rights of shareholders as well as their equitable treatment9. The analysis of stakeholders also helps the firm to proactively support the community welfare and at the same time, meet the changing preferences of the customers, thereby significantly impacting it productive outcome and improving its image and credibility amongst the stakeholders. Let us find you another Essay on topic The Transparency in Corporate Governance for free! 26 The contemporary efforts towards administrative reforms are not directed against an autonomous State, but instead a bureaucracy that is coming to grips with the changing role of the State.