All India Management Association (AIMA) 2007 M.B.A Marketing Management Business Ethics

• To view the interim and final accounts in toto
• To inform the board about the effectiveness of internal controls and the quality of financial reporting as pointed out by the independent auditors.
• To make recommendations regarding the audit fee, selection and replacement of auditors.
Other practices: As a part of their commitment to follow global best practices, we comply with the Euroshareholders Corporate Governance Guidelines 2000, and the recommendations of the Conference Board Commission on Public Trusts and Private Enterprises in the U.S.
They also adhere to the UN Global Compact Programme. To promote corporate social responsibility the company established a philanthropic foundation in 1996, which is mostly engaged in social, health and education programs in India.
Murthy is the chairman the Yale University President's Council on International Infosys Foundation, the philanthropic arm of Infosys Technologies Ltd., came into existence on fourth December 1996 with the objective of fulfilling the social responsibility of the company by supporting and encouraging the underprivileged parts of society. In a short span of time, the Foundation has implemented numerous projects in its chosen areas. The Foundation has undertaken different initiatives in providing medical facilities to remote rural areas, organizing novel pension schemes and in aiding orphans and street children. It has undertaken a large rural education program titled "A library for every school" under which 5500 libraries have been set up in government schools spread across many villages. Other activities include the reconstruction of old school buildings, setting up of rural Science Centers and schemes to give support to dying traditional art and culture forms. < TOP >

3. Strategies for saying no to bribe:
• Corporations must create a corporate culture that doggedly refuses bribe requests and establish clear corporate codes that employees unwaveringly adhere to.
• They must also assure managers that the company will back them when they refuse to pay.
• The most useful action a business can take is to understand corruption, and to create and articulate a general response to corruption before it encounters difficult situations.
• It’s useful for businesses to work together to create assurances that every will adhere to a few agreed level of behavior.
Risks and costs abound for companies that succumb to the bribery game:
• Because bribery is illegal, it is conducted behind closed doors, with those involved expending time and resources to keep their secret. Those who have endured them often define them as unhealthy, unstable and unenforceable. Firms’ reputations suffer when word ultimately leaks, as happened with those who conducted business with the family of former Indonesian President Suharto. Prior to and just subsequent Suharto’s 1998 resignation, the former leader, his children and associates were widely accused of taking advantage of benefits such as monopolies and tariff breaks to amass enormous personal wealth.

Earning:   Approval pending.