Corporate Governance in Indian perspective: A case of Grasim Industries

It is said, “No man is an island entire of himself”. We would like to apply this to the Business Organizations. The owners of any Business organization no matter how competent cannot alone bring the organization in the arena of success. A great deal of cooperation is required on part of the various stakeholders viz. the customers, suppliers, employees, shareholders and the society at large. Corporate Governance has come in vogue after 1932. All this has taken place with the tremendous growth in the size of the corporations. It is not possible for owners to keep control over every activity of the organization. Thus, the need to have specialized managers to manage the various activities has arisen. The Board is required to oversee the working of the company by its managers.