Publisher's Synopsis
The aim of commercial organizations is no longer seen as merely financial profitablitiy at any cost, but to function with awareness of their responsibility for the larger interests of society. In India, however, the major problem with commercial organizations continues to be managerial malpractices which often lead to bankruptcy, and heavy losses for public investors. Important methods of curbing business malpractice include the effective functioning of boards of directors, and the "watchdog" role of public financial institutions. This volume offers guidelines for boards of directors, based on actual experiences in India and elsewhere. In particular it provides case studies of companies which were successfuly "turned around" in times of trouble after the Boards' intervention, and gives an analysis of the factors involved.