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  3. 3. SESSION: 2022-24
  4. 4. Assignment on
  5. 5. ‘Ethical Governance System of Grasim Industries and
  6. 6. V.E Commercials Post Covid-19 pandemic’
  9. 9. esteemed institute, the Xavier Institute of Social Service. At the same time, we are also very fortunate to be taught under the esteemed guidance of Dr. Shyamal Gomes, who not only encourages us to give our best but also supports us in every possible manner. We would also like to extend our heartfelt gratitude to the employees of Grasim Industries and V.E Commercials for giving us their time and attention.
  10. 10. constant encouragement, support, and guidance from all the Teaching staff of the HR Department which helped us in completing our project work. Also, I would like to extend our sincere esteems to all staff for their timely support.
  11. 11. We perceive this opportunity as a big milestone in our career development. We will strive to use gained skills and knowledge in the best possible way, and we will continue to work on their improvement, to attain desired career objectives.
  12. 12. Last but not the least, we would like to thank our family members for their constant support throughout the completion of the project.
  13. 13. CONTENT
  14. 14. Introduction 4-7
  15. 15. Grasim Industries Ltd (Aditya Birla Group)
  16. 16. V.E Commercials
  17. 17. Problem Statement 8-10
  18. 18. Ethical Governance
  19. 19. Corporate Governance
  20. 20. Literature Review 11-13
  21. 21. Research Methodology 14-15
  22. 22. Data Analysis 16-20
  23. 23. CSR Activities at Grasim Industries 21-23
  24. 24. CSR Activities at V.E Commercial 24-25
  25. 25. Social Audit at Grasim Industries 26-28
  26. 26. Social Audit at V.E Industries 29-30
  27. 27. Major Findings 31
  28. 28. Recommendations for Ethical Organisation 32-33
  29. 29. Conclusion 34
  30. 30. References 35
  31. 31. Group Details and Contribution 36
  32. 32. Integrity: Integrity for us means not only financial and intellectual integrity but encompasses all other forms as are generally understood.
  33. 33. Commitment: On the foundation of Integrity, doing all that is needed to deliver value to all stakeholders. Staying committed to the mission and vision is also important.
  34. 34. Passion: An energetic, intuitive zeal that arises from emotional engagement with the organization that makes work joyful and inspires each one to give his or her best.
  35. 35. Seamlessness: Thinking and working together across functional groups, hierarchies, businesses, and geographies.
  36. 36. Speed: Continuously striving to finish before deadlines and choosing the best rhythm to optimize organizational efficiencies.
  37. 37. A company's board of directors is the primary force influencing corporate governance.
  38. 38. Bad corporate governance can cast doubt on a company's operations and its ultimate profitability.
  39. 39. Corporate governance entails the areas of environmental awareness, ethical behaviour, corporate strategy, compensation, and risk management.
  40. 40. The basic principles of corporate governance are accountability, transparency, fairness, and responsibility.
  42. 42. framework, while CSR is generally understood to be about how companies manage the business processes to produce an overall positive impact on society. To align the continuous upgrading of quality and excellence in a business environment with ethical corporate governance and corporate social responsibility the Greek Chapter of the European Business Ethics Network (EBEN) developed the Business Ethics Excellence (BEE) Model. This paper analyses the Business Ethics Excellence Model, investigates how its implementation can enable organisations to reach sustainable excellence, and presents the initial
  43. 43. ownership have the highest and majority focus of research in India. In terms of the relationship of corporate governance with other areas, the results exhibited that financial performance has been a major concern in prior research. The study makes a novel contribution to the strand literature of corporate governance in India. It highlights the substantial knowledge gaps in this field and provides a potential agenda for academicians, research organizations, and funding agencies for future research.
  44. 44. performance (CGP) index is developed to measure the corporate governance score of Indian companies. Though there is a significant improvement in corporate governance structures implied by Indian companies the number of independent directors inducted in the board decreases after the reforms in period 2. All the sectors under study show a significant improvement in following corporate governance practices after the reforms. The study reported a significant relationship between integrated framework of total corporate social performance
  45. 45. Grasim Industries Ltd and V.E. Commercials provided vast information about the companies, and their CSR initiatives which include healthcare, education, business development, women empowerment, etc.
  46. 46. Annual report of company: We could delve deeper into these companies to attain insights about the quarterly profit and loss, social auditing reports with the help of this annual report of the companies.
  47. 47. Research Papers and Journals: the research papers provided us greater knowledge on how to conduct social audit surveys, what can be the relevant questions that can be posed to the company to get the right information. • Strengths of Qualitative Research: • Limitations of Qualitative Research:
  48. 48. for the identification of Biodiversity and water- related issues. It has the potential to analyze the following: 1. Climate Hotspots - Adverse climate 2. Natural Hazards - Flood/Earthquake 3. Solar Energy - for renewable energy study 4. Wind Pattern - for wind energy 5. Air - Air Quality / Pollution. Aditya Birla’s subsidiary, UltraTech has also conducted scenario analysis for physical as well as transition risks. This includes RCP 8.5, RCP 6, RCP 4.5 and RCP 2.6 scenarios. All four scenarios have been considered to assess the impact of temperature and precipitation changes in areas where the Company operates.
  49. 49. Over 1,50,000 meal packets were prepared and distributed from manufacturing plant facilities of VECV at Pithampur and Dewas.
  50. 50. Another 4,500 packets per day were further distributed to help the underprivileged and vulnerable sections of the society.
  51. 51. In association with a local NGO, Action Aid, VECV had already reached out to over 500 construction workers in Bhopal to assist them with food and sanitation kits.
  52. 52. Organizations have realised that to maintain a decent brand image for themselves, and to be ethical in nature; they need to give back to the society that offers them the resources that they use for business purposes.
  53. 53. children. It focuses on improving the standard of living in society and has a broader sense of approach with respect to ethics. Grasim’s efforts in developing the tribal community need to be applauded since they have invested great efforts, time, and energy.
  54. 54. on their own employees, which is also something that needs to be appreciated. They care for the well-being of their employees and make sure the employees are comfortable so that they can perform better.
  55. 55. difference owing to their scale of business. While both organizations have tried to support society in their own ways, one can simply not overlook the scale of impact Grasim has had on society. On the other hand, VE Commercials’ impact on its employees is also huge, since the decision to keep its employees’, interest ahead will certainly benefit the organization by bringing in the loyalty of the employees as well.
  56. 56. Grasim’s operations are also directed by the Aditya Birla Centre for Community Initiative and Rural Development and VE Commercials does the activities on its own by keeping aside a proportion from its profits.
  57. 57. about the difference they can bring to society and that is what is very important. The intent to perform the activities is more important since that will lay the path to conducting more and more activities as per the funds.
  58. 58. nature of operations in both organizations is very different so their ways of conducting themselves were not alike. However, both organizations cared to protect their employees and thought of their well-being. They have also tried to help society by raising help as much as they could.
  59. 59. seriously. There are meetings to check on the progress and whether they wish to release an official statement or not is their own decision to take, they do make sure to make amendments to their organization as an when required.