Corporate Governance ?!?

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Was recently reading an article in the Guardian by William Dalrymple, on how East India Company efficiently moved from being a trading company in Bengal, to one with the largest armies of its times... how a Corporate managed to establish governance....

 It is interesting to note that this is a problem being faced by all times. Like he puts it very aptly...

 "Corporate influence, with its fatal mix of power, money and unaccountability, is particularly potent and dangerous in frail states where corporations are insufficiently or ineffectually regulated, and where the purchasing power of a large company can outbid or overwhelm an underfunded government."

 As we move towards privatization in all sectors, not because corporates can contribute more, but because the public systems and departments have become very inefficient, it is interesting to note that we are increasing the control of private firms in the working of basic facilities. Though there are many governing bodies, to ensure quality standards, the bottomline for any corporate is atleast breaking even if not profits. This invariably will lead to the same problem.

 Without taking away the positive impact of privatization on our society and economy, I feel we should, for a change, focus on reducing the ineffieciencies in the public systems for change. That will be the true challenge for a government in power - Proper governance in all realms, be it public or private departments.

Comments

  1. Kanupriya17 March 2015 at 11:07

    If at all there would have been any such thing in public sector, perhaps there would have been so many things better today. Everytime I have to deal with some Govt official, I actually gather my patience as much as possible. That article that you've linked to is great, loved reading it :)

    ReplyDelete
    Replies
    1. Dwiti R26 March 2015 at 22:40

      That's true.. the inefficiencies of the public sector are well publicized everywhere... unfortunately, not much is done about it...

      Delete
  2. Sahithya Sridhar18 March 2015 at 14:50

    people working in the public sector should stop being lathargic and performance based insentives and promotion should be introduces even in the public sector for the departments to work efficiently

    ReplyDelete
    Replies
    1. Dwiti R26 March 2015 at 22:41

      They already have a strong incentive system... I guess it is the lack of setting of targets that is the problem..

      Delete
  3. Choco31 March 2015 at 23:10

    I feel public sector services have improved greatly in the recent past. Efficiency has improved. But yet. You made a very valid point towards the end of the post.

    ReplyDelete
    Replies
    1. Dwiti R2 April 2015 at 11:34

      True, the government departments have really started making good use of technology to improve their efficiency... the Income Tax department being the biggest example...
      But there is still ample scope for an overhaul...

      Btw, thanks for coming by...

      Delete

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