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C orporate Governance & E thics. Symposium Outcomes Share information on the supervision and self- regulation of the direct selling industry in Asian markets. Symposium Outcomes

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Presentation Transcript
slide3

Symposium Outcomes

Share information on the supervision and self- regulation of the direct selling industry in Asian markets

slide4

Symposium Outcomes

Topics such as industry regulation, consumer protection policy, corporate governance & ethics, and relationship building suggest an underlying theme of an industry looking to assure new markets of

- the value and integrity of its operations, and

- respect for their legal and cultural traditions

slide5

Context

  • Business corporations are increasingly important for wealth creation, and how companies are operated will influence society as a whole
  • To serve this wealth creation function, companies must focus on their objectives and be accountable for their actions through the structure of good corporate governance arrangements
slide6

Symposium Outcomes

How should a session on corporate governance and ethics contribute to Symposium outcomes?

- Describe the concepts

- Discuss their role for reassuring consumers and regulators in emerging markets

slide7

Concepts

Corporate Governance and Ethics

    • increasingly part of the business lexicon
    • cover a wide range of issues
    • not well-defined or understood
slide8

Corporate Governance

Corporate governance is the function of a company’s compliance with regulatory requirements and, to the extent that it is not required by law, its adherence to standards that

  • define relationships between a company’s management, its board, shareholders and other stakeholders
  • provide a structure through which the company’s objectives are set, and how they are achieved and monitored
  • recognise the value of business ethics and corporate awareness of society interests to reputation and long- term success
slide9

Ethics

  • Reflection in a company’s operations of the values and moral principles used in the communities in which they operate
  • Successful markets and corporate performance are founded on a commitment to basic ethical principles aligned as much as possible to the interests of individuals, corporations and society
  • Ethical standards may be expressed in a company’s formal conduct requirements, or contained in generally stated principles that guide a company’s preferred conduct or behaviour
slide10

Framework

  • No single model for corporate governance
  • Corporate governance is a set of principles that may be variously applied in particular circumstances by government, regulators, institutions and corporations
  • Principles primarily designed to promote confidence in capital markets, but also have general application
  • OECD has developed broad principles and supporting statements for best practice in corporate governance
  • Interest shown in OECD principles by non-member Asian countries
slide11

Direct Selling

  • Direct selling is supply of goods and services, away from a fixed retail location, usually face-to-face
  • Contribution to economic and social development not generally recognised
  • Advantages over conventional retail supply
  • Direct selling can present issues at distribution and consumption levels
slide12

Corporate Governance

  • Defines relationships between management, board, shareholders and other stakeholders
  • Provides structure through which company objectives are set, achieved and monitored
  • Recognises the value of business ethics and corporate awareness of society interests to reputation and long-term success

COMPANY

slide13

Corporate Governance

  • Defines relationships between management, board, shareholders and other stakeholders
  • Provides structure through which company objectives are set, achieved and monitored
  • Recognises the value of business ethics and corporate awareness of society interests to reputation and long-term success

COMPANY

Structure and management of operations to ensure consumer outcomes

slide14

Corporate Governance

  • Defines relationships between management, board, shareholders and other stakeholders
  • Provides structure through which company objectives are set, achieved and monitored
  • Recognises the value of business ethics and corporate awareness of society interests to reputation and long- term success

COMPANY

Distribution

Consumption

slide15

Corporate Governance

  • Defines relationships between management, board, shareholders and other stakeholders
  • Provides structure through which company objectives are set, achieved and monitored
  • Recognises the value of business ethics and corporate awareness of society interests to reputation and long- term success

COMPANY

Distribution

  • Employment
  • Structure

Consumption

slide16

Corporate Governance

  • Defines relationships between management, board, shareholders and other stakeholders
  • Provides structure through which company objectives are set, achieved and monitored
  • Recognises the value of business ethics and corporate awareness of society interests to reputation and long- term success

COMPANY

Distribution

  • Employment
  • Structure
  • Quality
  • Information
  • Safety
  • Redress
  • Service
  • Education

Consumption

slide17

Corporate Governance

  • Defines relationships between management, board, shareholders and other stakeholders
  • Provides structure through which company objectives are set, achieved and monitored
  • Recognises the value of business ethics and corporate awareness of society interests to reputation and long-term success

COMPANY

Distribution

  • Employment
  • Structure
  • Quality
  • Information
  • Safety
  • Redress
  • Service
  • Education

Consumption

slide18

Corporate Governance

  • Defines relationships between management, board, shareholders and other stakeholders
  • Provides structure through which company objectives are set, achieved and monitored
  • Recognises the value of business ethics and corporate awareness of society interests to reputation and long-term success

COMPANY

Distribution

  • Employment
  • Structure

Community Standards

Industry Standards

Company Standards

  • Quality
  • Information
  • Safety
  • Redress
  • Service
  • Education

Consumption

slide19

Corporate Governance

  • Defines relationships between management, board, shareholders and other stakeholders
  • Provides structure through which company objectives are set, achieved and monitored
  • Recognises the value of business ethics and corporate awareness of society interests to reputation and long-term success

COMPANY

Distribution

  • Employment
  • Structure

Local Values and Culture

Community Standards

Industry Standards

Company Standards

  • Quality
  • Information
  • Safety
  • Redress
  • Service
  • Education

Consumption

slide20

Corporate Governance

  • Defines relationships between management, board, shareholders and other stakeholders
  • Provides structure through which company objectives are set, achieved and monitored
  • Recognises the value of business ethics and corporate awareness of society interests to reputation and long-term success

COMPANY

Distribution

  • Employment
  • Structure

Local Values and Culture

Community Standards

Industry Standards

Company Standards

  • Quality
  • Information
  • Safety
  • Redress
  • Service
  • Education

Codes

Consumption