The needs to adjust and/or improve the approaches of corporate governance practices is very important for Indonesia. Nevertheless the need to also touch the people/change the mindset to actually embrace/believe the GCG principles as the core values on how you run the company/organization is very relevant in Indonesia.
Furthermore, this is an enticement to all that engage the governance practices that Indonesia need more than just to setup the system, but we definitely need the leadership factor.
12. Some Says Corporate Governance
is Something Beyond Compliance 6
Tuesday, April 17, 12
13. Some Says
Corporate Governance
is New Way of Life
7
Tuesday, April 17, 12
14. Some Says
Corporate Governance
is New Way of Life
Corporate
7
Tuesday, April 17, 12
15. What is
Corporate Governance
Really Means?
8
Tuesday, April 17, 12
16. ‘‘
It creates balances
Corporate governance is concerned
with holding the balance between
economic and social goals and
between individual and communal
goals. The governance framework is
there to encourage the efficient use
of resources and equally to require
accountability for the stewardship of
those resources. The aim is to align
as nearly as possible the interests of
individuals, corporations and society
- Sir Adrian Cadbury, UK Commission on CG
9
Tuesday, April 17, 12
17. Control
ACTION BUTTON
kill button
Tuesday, April 17, 12
10
‘‘
It is the system itself
The King Commission
describes Corporate
Governance simply as
the system by which
companies are directed
and controlled.
- King Report on Corporate Governance, South Africa
18. Tuesday, April 17, 12
It specifies distribution of
‘‘
rights & responsibilities
Corporate Governance is procedures and processes
according to which an organization is directed and
controlled. The corporate governance structure
specifies the distribution of rights and responsibilities
among the different participants in the organization –
such as the board, managers, shareholders and other
stakeholders – and lays down the rules and
11
procedures for decision-making.
- European Central Bank, Frankfurt
19. 12
Tuesday, April 17, 12
It creates clear accountability
accountability toward the
shareholders
‘‘
Corporate Governance is set of rules
on how the management set their
- Organization for Economic Co-operation & Development
20. ‘‘
It creates SVA
Corporate Governance is a relation, system and process pattern
which used by company’s organ (BoC, BoD & GSM) to ensuring
shareholder value added continuously, whilst balancing other
stakeholder interests and based on regulations prevails
- National Committee on Governance, Indonesia
13
Tuesday, April 17, 12
46. 31
Tuesday, April 17, 12
Governance need Leadership,
and Leadership Need
Governance
‘‘
Governance and leadership are the yin and the yang of successful
organizations. If you have leadership without governance you risk
tyranny, fraud and personal fiefdoms. If you have governance without
leadership you risk atrophy, bureaucracy and indifference
- Mark Goyder (Director of Tomorrow's Company)
47. You cannot
legislate good
behavior ‘‘
- Mervyn King S.C. (Chairman: King Report)
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Tuesday, April 17, 12