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Over invoicing through false documents to show higher profits.  Using political clout to avoid penalty or compensation for unlawful act.  Lack of transparency and avoiding investigation.  Damaging the environment by violating the government prescribed norms for pollution.  Resorting to money laundering.  Diverting through foul means from a public limited company to family-owned concerns.  Abusing the legally constituted institutions such as boards of directors, auditors and  Independent directors to achieve nefarious ends.

CORPORATE SOCIAL RESPONSIBILITY AND CORPORATE GOVERNANCE ISSUES AT SATYAM

Indian business culture puts a premium on favors, friendship, and clanship.xlv The Western concept of conflict of interest does not always mesh well with the Indian value of loyalty. ” On a quarterly basis, Satyam’s earnings grew.

Mr. Raju admitted that the fraud which he committed amounted to nearly $276 million. In the process, Satyam grossly violated all rules of corporate social responsibility and corporate governance.

The Satyam scam had been the example for following poor governance practices.It had failed to show good relation with the shareholders and employees. Governance issue at Satyam arose because of non fulfillment of obligation of the company towards the various stakeholders.

Distinguishing the roles of board and management; separation of the roles of the CEO and chairman; appointment to the board; directors and executive compensation; protection of shareholders rights and their executives. Shareholders never had the opportunity to give their consent prior to the announcement of the Matyas deal.

Falsified documents with grossly inflated financial reports were delivered to them. Ultimately, shareholders were at a loss – and, cheated. Surely, questions about management’s credibility were raised in addition to the non‐payment of advance taxes to the government. Together, these raise questions about Satyam’s financial health.

An ethical problem cannot be resolved unless it is first recognized as a dilemma. “Reward or punishment to ethical integrity and moral courage decide the act of an individual.”l The existence of rules, policies, job descriptions and cultural norms will discourage individuals from unethical behavior even if they have a feeble moral sense. But, in the presence of unethical organizational culture and structure, even highly moral individuals may become corrupt.

The culture at Satyam, especially dominated by the board, symbolized such an unethical culture. In the case of Mr. Raju, Satyam, as the smallest of the big four players, was under pressure to show extraordinary results in order to survive. Apart from that there was greed, perhaps reckless greed, causing the brothers to indulge in illegal and unethical activities.

On one hand, his rise to stardom in the corporate world coupled with immense pressure to impress investors made Mr. Raju a compelled leader to deliver outstanding results. On the contrary, Mr. Raju had to suppress his own morals and values in favor of the greater good of the company. The board connived with his actions and stood as a b本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。