BUSINESS ENVIRONMENT

GAURAV ARYA CHARTERED ACCOUNTANT

“One should perform his deeds for the benefit of the humankind with an unbiased approach because bias gives birth to evil, which creates thousands of obstacles in our path.”------Rig Veda.

Where the Success lies?

- Drafting & articulating the vision, mission, & core values.

Vision: Gives the picture of where the organization wants to

go.

It is the inspiration, the framework for all the strategic planning of the organization.

ORGANISATION CULTURE AND STRUCTURE

Mission Tells about the purpose of the Organization , Company or

person. Explains why the organization exists and provides a sense of

meaning for the leadership, staff and other stakeholders

Core Values These are guiding principle for the organisation These are attributes which are reflected on the day to day

interaction with the internal as well as external stakeholders.

But Still Question is whether the success lies in simply drafting and articulating the vision, mission & core values of the organization?

Answer is NoSuccess lies in building the reputation of the organization.

Requirement – Alignment of values of the employees with the values of the

organization. Sharing of core values of the organization with the employees of

the organization so that their behavior , actions , decisions , jugdement in running the organization must be in consonance with the value of the organization.

Tata Group

The Tata group established in 1868 by Jamshedji Tata. It has now become an Indian multinational conglomerate &

regarded as one of the most reputable company in the world. The 2009, annual survey by the Reputation Institute ranked Tata

Group as the 11th most reputable company in the world. This is mainly because of its strong culture driven by its values. It has sustained for 145 years & still growing. The Tata Group has helped establish and finance numerous

quality research, educational and cultural institutes in India. In a 2011 investor poll conducted by equity research firm

Equitymaster, TATA Group was voted as the most trustworthy among the Indian corporate houses. Over 61% of the respondents "showed their confidence in the Tata Group". The Tata Group retained its "Most Trustworthy" status in 2012 poll.

Case Studies

Tata GroupCore Values Integrity: We must conduct our business fairly, with honesty and

transparency. Everything we do must stand the test of public scrutiny.

Understanding: We must be caring, show respect, compassion and humanity for our colleagues and customers around the world, and always work for the benefit of the communities we serve.

  Excellence: We must constantly strive to achieve the highest possible

standards in our day-to-day work and in the quality of the goods and services we provide.

  Unity: We must work cohesively with our colleagues across the group and

with our customers and partners around the world, building strong relationships based on tolerance, understanding and mutual cooperation.

  Responsibility: We must be responsible and responsive to the countries,

communities and environments in which we work, always ensuring that what comes from the people goes back to the people many times over.

Case Studies

Forbes survey - Infosys  ranked among the most innovative companies. The Boston Consulting Group   - leading technology companies Newsweek's Green Rankings - Top ten green companies. The Wall Street Journal Asia  -Infosys was voted India's most admired company in

every year since 2000.  The Brand Trust Report- It was also ranked as the 15th most trusted brand in India

by  Infosys wins Most Admired Knowledge Enterprise (MAKE) award for the fourth year. Infosys is the first Indian company to win the Global MAKE Award and enter the Global

MAKE Hall of Fame.

Why Infosys has become one of the most admired company & fulfilled their Vision ?

N R Narayana Murthy has written in his debut book, “A better India, a better world.” In this book he has written about the Infosys’s Vision and how they will achieve it.

If you seek respect, you will not short change your customers. You will be fair to your colleagues in the company. you will be transparent with your investors, you will treat your vendor partner with

care & understanding. You will not violate the law of the land in whichever country you operate & you will

live in harmony in whichever society you operate in.

Infosys

Vision, Mission and Core Values

Vision:  We will be a globally respected corporation.

Mission: Strategic Partnerships for Building Tomorrow’s Enterprise.

Values: We believe that the softest pillow is a clear conscience. The values that drive us underscore our commitment to - CLIFE

Client Value: To surpass client expectations consistently. Leadership by Example: To set standards in our business and

transactions and be an exemplary for the industry and ourselves. Integrity and Transparency: To be ethical, sincere and open in all

our transactions. Fairness: To be objective and transaction-oriented, and thereby earn

trust and respect. Excellence: To strive relentlessly, constantly improve ourselves, our

teams, our services and products to become the best.

Infosys

Right Management surveyed over 28000 employees globally in 15 countries & found the following Top Five Global Engagement Drivers: I am committed to my organization's core values. Our customers think highly of our products and services. My opinions count. I have a clear understanding of what is expected of me at

work. I understand how I can contribute to meeting the needs of

our customers.Conclusion

???????????................ Can anybody conclude it???SourceArticle on Organization Culture Development Strategy & Best Practices by Tapan Kumar Dhar Published In CAClub India Website on 02nd July,2013

After the war, Hanumanji submitted his Travel Allowance Bill for his official tour for collecting Sanjeevani Booti to Ayodhya administration. The Auditor in Bill section raised three objections:

(1) Hanumanji did not take prior permission of the appropriate authority (Bharat), the King of Ayodhya, during the relevant time for his travel;

(2) Hanumanji being Grade-D officer was not entitled to air travel;

(3) Hanumanji was asked to bring Sanjeevani Booti, just a single plant, but he carried a whole mountain (unauthorized excess baggage).

The Auditor returned the bill. King Ram could do nothing except mark it down for re-examination.

A worried Laxman approached the Auditor and offered a bribe of 10% of the T.A. Bill amount. The Auditor now wrote on the Bill:

Re-examined:1. Even during the relevant time, Ram was the de-jure king through his Paduka.

2. Further in an emergency, non-entitled officers can be authorized ex-post facto to fly.

3. Also excess baggage is justified as bringing a wrong plant would have entailed multiple journeys with extra cost;

Hence bill may be paid...

Lighter MomentsAuditor Saab – Balle Balle

Inspirational Moments Shiv Khera – Be a Winner

Activity Time – What do you want to become in life?How will you achieve it? – Roadmap, Planning and Execution.Come on podium and discuss.