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Corporate Governance Norms for SME

Corporate Governance Norms for SME. Dr. Indrajit Dube Dean, RG School of IP Law Indian Institute of Technology Kharagpur. About My Law School at IIT. IThas beenestablished four years back with the generous donation of Mr. Vinod Gupta, a illustrious alumni and business magnet of USA.

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Corporate Governance Norms for SME

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  1. Corporate Governance Norms for SME Dr. Indrajit Dube Dean, RG School of IP Law Indian Institute of Technology Kharagpur

  2. About My Law School at IIT • IThas beenestablished four years back with the generous donation of Mr. Vinod Gupta, a illustrious alumni and business magnet of USA. • The objective of the school is to promote legal education interfacing with Technology and Management. • At present the school runs an executive program called LL.B [Specialization in IPR] and a research program [Ph.D]. • The School also carries multi – disciplinary action research.

  3. About the theme • Times editor commented in an interview with NDTV that India is not affected to that extent in the global recession because of its micro-economic structure and SME. • According to me, SME will be driving factorofour economy in coming days. • To achieve that end, SME should be transformed from ‘informal organizational form ’ to ‘formal organizational form’.

  4. Issues SME faces • Inadequate public support and infrastructure facility • Deficiency in organizational planning and modeling • Organizational succession plan • Ignorance and inability of risk management

  5. The Present Research was Funded by National Foundation for Corporate Governance [NFCG]

  6. About Research • Time frame : About twenty months • Universe : • Geographically entire India • Strata broadly divided in Production and Service Enterprises • Sample Method: Random • Sample Size: Two thousand two hundred and eleven • Research Tools: • Schedules administered in person • Schedule administer through web • Interview

  7. Findings of Primary Survey

  8. Findings of Primary Survey

  9. Findings of Primary Survey

  10. Findings of Primary Survey

  11. Why and What • SME to be a partner to the inclusive growth • Better organizational structure, better credit worthiness, better employer, better contributor in economic growth • Draw a succession plan for sustainable growth Corporate Governance based on stakeholder approach not on agency problem

  12. Recommended Corporate Governance Norms for SME’s • Prepare and Publish ‘Mission Statement’ of Enterprises • Enterprise Policy Statement to Manage Business Growth • Enterprise Succession Plan • Annual Management and Accomplishment Statements • Management Structure and Level of Professional Qualification as relevant to Industry • Method of accounting and disclosure of audited account • Stakeholder relations and welfare undertaken by the enterprise • Legal and regulatory Compliances

  13. Thank you

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