Katheriya Rajputs and Kathayat's History

Katheriya Rajputs and Kathayat

Who are the Katheriya? About the middle of the twelfth century the Katheriya seem to have established themselves firmly in the Bareilly region with Kabar and Aonla as their chief centers. They appear to have started as vassals of the Rashtrakutas of Vodamayuta (Badaun) but on the latter's downfall (1195 AD) they declared independence. The Katehriyas are to be noted for their conspicuous role in persistently resisting the onslaught of the Delhi rulers till as late as the time of Akbar. The origin and the rise of the Katehar Rajputs in the region are a mystery and matter of controversy." According to the tradition the foundation of the town of Bareilly may be dated sometime in the first half of the sixteenth century. It is said that one JagatSingh katehriya founded a village called Jagtpur about the year 1500. In 1537 him two sons Bas Deo and Barel Deo were responsible for founding Bareilly. The place was named after the two brothers as bans Bareilly. The name Jagatpur is still retained by one of the mohallas of the old city. During the region of Akbar the Katehriyas rose in revolt but it was crushed by the Mughal general Almas Ali Khan. Bas Deo of Bareilly who was then ruling over a considerable extent of territory was killed and Bareilly was annexed in the Mughal Empire. However the Mughal authority did not become effective here till the afghan nobles who were entrenched in these were overthrown. As Per medieval history Rampur was the part of Delhi and was divided between Badaun and Sambhal districts. Being situated on upperside of Rohilkhand, it was known by the name Kather and was ruled by Katheria Rajputs. The Katheria Rajputs fought for about 400 years with the rulers of Delhi and later with Mughals. They fought with Naseeruddin Mahmood in 1253, Gaisuddin Balwan in 1256, Jalaluddin firoz in 1290, Firoj Shah in 1379 & Sikander Lodhi in 1494. In the beginning of Moghal period the capital of Rohilkhand was changed from Badaun to Barely and hence the importance of Rampur increased. Before independence, Rampur was an Estate ruled by Nawabs. The estate of Rampur was established by Nawabs Faizulla Khan on 7th October, 1774 in the presence of British Commander Colonel Champion. The stone of Rampur city was laid in 1775 by Nawab Faizulla Khan. Originally it was a group of 4 Villages named Kather on the name of Raja Ram Singh. Kathayat These People say that they are Katheria Rajputs of Kather and come here (Kumaon) during the reign of the Bom king of SOR!. Some say they are Chauhans. Kashyap Gotra Bhim Kathayat was famous minister of the Katuaris. NILU Kathayat was great commander of the Katuaris. Later his descendant acted as darogas (superintendent) of the kitchen. This is a historical Clan"@ Who was Nalu Kathayat? A large bird which he saw flying away with something in its talottS, The bird proved to be a vulture, the Garur or Garuda, the bird and carrier of Vishnu, which had been carrying away a great snake. The Emperor was so pleased with the Raja's skill that he not only granted his petition to have and to hold the land lying along the foot of the hills as far as the Ganges, but directed him henceforth to assume the name of Garur Gyan Chand. The Raja returned to Kumaon and took possession of the present Bhabar and Tarai. As this Raja reigned from 1374 to 1419 A.D. he may have met either Mahmud Tughlak when be came on a hunting expedition to the foot of the hills in 1410 or 1412, or Daulat Khan Lodi, who paid a similar visit in the following year. However this may be, the Madbawa-ke-mal, corresponding to the Tallades Bhabar, was shortly afterwards seized and occupied by the Musalman governor of Sambhal. Gyan Chand dispatched a force against the intruders under his favorite officer Nalu Kathayat, who expelled the Musal- maus and recovered the entire tract. Gyan Chand recognized the services of Nalu by presenting him with a dress of honor (kumdya siropo) and a sanad conferring on him the possession of several villages in the Bhabar and twelve jy^las of land in Dhyanirau in tenure of rot,^ besides carving a tablet to be inscribed and set up in Nalu's own {that) village of Kapraoli commemorating his success and ability in the campaign against the MIechehhas. These unusual honors gave offence to one Jassa of Kamlekh, a Favorite servant of the Raja, and he took means to poison the mind of his master against Nalu. The first consequence was that Nalu Was ordered to proceed to the Bhabar and reside there- as governor. The climate was then as now malarias in the extreme and unfit for a prolonged residence, and Nalu without putting on his dress of honor resolved to seek an interview with the Raja and protest against his being^ sent to the Mai. Jassa saw him coming and told the Raja that Nalu was intentionally disrespectful in coming to the interview granted by the Raja to the families of persons who had perished his service, and when given to a lairing man was held to express the Raja's opinion that the man had done such deeds of bravery that it was wonderful that he survived: consequently the grant of land in ' rot ' was considered one of the most honorable rewards that a man could receive. The ordinary form of grant in reward for services was in jigir. Without permission and without wearing the dress that had bee it given him and so aroused the Raja's anger that an audience was refused and Nalu was sent away in disgrace. His wife, a Mara lady of Sirmola, thereon sent her two sons Suju and Baru to induce their uncle, the chief of the Maras at Champawat, to make peace between Nalu and the Raja, but the lads missed their way and fell into the hands of Jassa, who induced the Raja to believe that they had arrived with the intention of murdering him. The Raja ordered the boys to be thrown into prison and there blinded them. When news of this event came to Nalu's ears he roused the Maras throughout the country and attacking the Raja, captured Jassa^ whom he slew. He then sacked Jassa's village and fort of Kamlekja, the ruins of which exist to the present day. The Raja was spared by the conqueror but ill requited their generosity by causing the death of Nalu, sometime afterwards. This episode of Nalu shows that the rivalry of the several factions had not diminished and that it was dangerous for even the Raja to offend the chiefs of the parties. Gyan chand died in 1419 A.D. after a reign of 45 years and was succeeded for a few months by his son Harihar Chand. As we have already mentioned Katehriyas appear to have started as vassals of the Rashtrakutas of Vodamayuta (Badaun) but on the latter's downfall (1195 AD) they declared independence. The Katehriyas are to be noted for their conspicuous role in persistently resisting the onslaught of the Delhi rulers till as late as the time of Akbar. The origin and the rise of the Katehar Rajputs in the region are a mystery and matter of controversy." So before 1195 AD According to the N.C. Sen in his book History of Rohilla Rajputs is written that There is another book “Kshatriya Vartman” by Thakur Ajit Singh Parihar of Balaghat, Madya Pradesh, in which ,we find a mention of a clan called ‘Rohil’. Two verses by an unknown Hindi Poet have been given therein. They are reproduced: (i) “The Yadavas, Chandels, Jhala, Tomars and Koch Rohil Banafar belong to the Chandra Vansh” Page 97. (ii) “Yadavas, Chandels, Jhala, Tomar and koh Randhel Banafar are from the Chandra Vansh” – Page 263.

If you fail to compete with your close competitor marry it: A case Study

#Q1. How do you define the strategy, “if you fail to compete with your close competitor marry it”? Comment in the context of competition between India and China.

Answer:

India and China are two of the world’s most ancient surviving civilizations.  The Chinese built the 4000-mile Great Wall some 2000 years ago, about the time of the birth of Jesus Christ.  As an awesome marvel of engineering, most of the wall still stands intact, the only man-made object visible from the outer space.  They invented bureaucracy even earlier, thousands of years before Max Weber brought it eloquently to the attention of the western world.  The Terracotta Army built by Emperor Qin in the 3rd century BC is in almost perfect state of preservation to this day.  Some of the greatest inventions that we live by even today came from China, including the gun powder – the most infamous of them all, the paper, paper money, printing, viaducts, dams, clocks, the compass, astronomical observatories, and countless other inventions .

            Indian contributions to algebra, textile, chemistry, medicine, metallurgy, and astronomy in the Ancient and Medieval periods are legion. Sophisticated agricultural practices, architecture, and sewage systems were developed by the engineers in the Indus Valley civilizations of Harrappa and Mohanjadaro. The wisdom of the Buddha flowed from India to China, while Confucius’ precepts of compassion, humility, and right conduct by merciful rulers influenced the behavior of emperor Ashoka in the 3 rd century B.C. who inscribed on his commemorative pillars, Satya amar jayte (Truth alone shall triumph).           

            India became a free country through peaceful transition of sovereignty from Britain in 1947.  China had a proletarian revolution in 1949 led by Mao Zedong.  Both democratic India and Communist China embarked upon ambitious science, technology, and economic development programs through centralized planning.  Both emphasized self-reliance through local initiatives, restricting the flow of foreign capital and technology for nearly three decades.  During this time, the Peoples Republic of China (PRC) controlled its economy and protected it from outside influences far more than did India.  For at least 10-15 years since the revolution in 1949, the only source of foreign capital and technology for China was its ideological partner, the Soviet Union. That relationship began to crack in 1962 because of the USSR’s reluctance to transfer nuclear technology to the Peoples Republic.  China continued its isolation and suffered serious stagnation for 20 or so more years, until after Mao’s death in 1976.

            During this period India also strictly regulated its economy, allowing only partial and highly restricted entry of foreign capital and technology.  The Indian economy began to open its door a bit more widely by the middle of the 1980s, at about the same time as did China.  By this time, the global economy had already taken hold of the national economies in North America, Europe, and the Pacific Rim.  Post-Independence era regulations proved a mixed blessing for India.  It missed 20 years of the information technology revolution that was sweeping the world and driving the global economy – remember how the IBM and Coca-Cola were kicked out of India in the middle of 1970s.  The private sector stagnated under those regulations.  The protected government sector thrived despite its magnificent mismanagement.  India’s industrial development suffered.  While these negative trends were the legacy of regulations, government policy of self-reliance helped built robust networks of techno-economic institutions and individuals that were ready to march forward when the global economy did finally reach India.  Through regulations India was also able to protect its local industries and markets from unbridled speculation and exploitation by multinational corporations.  Let me return to China for a minute.

            Deng Xiaoping took command of China in 1979, three years after Mao’s death.  With a massive shift of public policy, Deng opened the Chinese economy to foreign capital, technology, and competition.  The scene that I witnessed in China when I went there for the first time in 1980 was a totally different scene than what is going on there today.  Despite the open door policy, economic modernization remained laggard during the entire decade of the 1980s. Things began to change rapidly in the next decade.  Since then, the Chinese economy has been growing at about 9-10% per year, surpassing any other country for a sustained growth at such a high rate.  In terms of GDP per capita, modern China is the world’s 4th largest economy, and is likely to overtake Japan within the next 5-10 years.  It is one of the world’s largest exporters of consumer items through retailers like Wal-Mart, Carrefour, Target, and Tesco.  Even garlic in the United States is being imported from China.  The American Wal-Mart is probably the biggest buyer of consumer goods made in China.  “It bought $19 billion worth of Chinese goods in 2004, amounting to some 15% of China’s total exports to America in that year.

            India has finally left behind its “Hindu growth rate” of 3% to hit an annual growth rate of 8+%.  Its technological capability is strong.  It is the most preferred destination of IT outsourcing, now moving away from being the world’s call center to being a vital feeder to the global knowledge industry.  India’s economic base is vast – 4th largest in the world in terms of purchasing power parity and 12th largest in terms of per capita GDP.  It is projected to become one of the five largest economies in the world by 2050 along with China and Brazil.  Its markets are huge, with the current consumer class estimated to be around 350 million, about the size of the entire European Community. 

            India-China trade is currently running at $20 billion from only $1.8 billion in 1989-90. A substantial share of India’s mobile-phone market is run by Hutchison Telecommunications of China.  Huawei Technologies has a software center in Bangalore that employs 1,150 Indian and 50 Chinese engineers. I understand that most of the Diwali lanterns for 2006 celebrations came from China.  The Chinese computer giant Lenovo has recently established its global marketing hub in Bangalore to be run and managed by Indians.  China imports iron ore and other minerals from India.  From the Indian side, an estimated 150 companies are currently doing business in China. The trend, nonetheless, is definitely pointing in the direction of increasing bilateral trade and technology agreements.  

            It’s high time to India to compare their strength and weakness with China and make the strategy accordingly. China is always doing very good in the hardware manufacturing side and India always good in software R&D and marketing side. So India must join hand with China in her strength positions and vise versa. This will lead the win win situation to both countries and can become two economical giant Asian nations in the near future.

What is leadership?

 Introduction

It is very difficult to qualitative define leadership. It is easier to give examples of leaders than to define leadership.  Leadership involves various dimensions and attributes. It requires vision, courage, understanding, determination, decisiveness, sense of timing, capacity to act, ability to inspire, etc. A leader is often judged by his mettle in a crisis. For example, Winston Churchill during the London Blitz, John F Kennedy during the Cuban missile crisis, Indra Gandhi in the 1971 Bangladesh war, marget Thatcher during miner’s strike, Mikhail Gorbachev’s break with communism and the cold war. In these turning points, leadership made a crucial difference in the modern history. It is same in case of leadership in organizations.

            As an effective human being, a leader should have identity, authenticity, open mindedness, independence, responsibility, communication, reasoning and problem solving abilities, concern for others, rest for life energy, maturity, courage (guts), strong sense of obligation, clarity of mind and expression, integrity, etc. Leadership is highly complex and elusive trait.  The above description does not clearly define what leadership is. A leader is one who has followers; is too simple a definition. Leadership is often defined as the art of influencing others ( people) to strive willing; to do what the leader wants them to do ( often to do the mutually compatible objectives) with zeal and confidence . It is encouraging and inspiring individuals and teams to give their best to achieve a desired result. Leaders work with and through people to accomplish goals.  It is psychological process of providing guidance for followers. Leadership is one of the most effective tools of management and organizational effectiveness depends on the quality of leadership. To lead is to guide, conduct, direct and proceed. Earlier we have seen that the management is defined as the management is defined as the process of getting things done through the efforts of other people. Both the definitions overlap and since managers get all sorts things done through the efforts of other people. Both the definitions overlap the since managers get all sorts done through the efforts of other people, they must lead. In other words, by definition all managers are leaders.

Job Satisfaction: Theory into Practice

Employee satisfaction and retention have always been important issues for physicians. After all, high levels of absenteeism and staff turnover can affect your bottom line, as temps, recruitment and retraining take their toll. But few practices (in fact, few organizations) have made job satisfaction a top priority, perhaps because they have failed to understand the significant opportunity that lies in front of them. Satisfied employees tend to be more productive, creative and committed to their employers, and recent studies have shown a direct correlation between staff satisfaction and patient satisfaction.¹ Family physicians who can create work environments that attract, motivate and retain hard-working individuals will be better positioned to succeed in a competitive health care environment that demands quality and cost-efficiency. What's more, physicians may even discover that by creating a positive workplace for their employees, they've increased their own job satisfaction as well.

Herzberg's theory

In the late 1950s, Frederick Herzberg, considered by many to be a pioneer in motivation theory, interviewed a group of employees to find out what made them satisfied and dissatisfied on the job. He asked the employees essentially two sets of questions:

1.                      Think of a time when you felt especially good about your job. Why did you       feel that way?

2.                      Think of a time when you felt especially bad about your job. Why did you          feel that way?

From these interviews Herzberg went on to develop his theory that there are two dimensions to job satisfaction: motivation and "hygiene" Hygiene issues, according to Herzberg, cannot motivate employees but can minimize dissatisfaction, if handled properly. In other words, they can only dissatisfy if they are absent or mishandled. Hygiene topics include company policies, supervision, salary, interpersonal relations and working conditions. They are issues related to the employee's environment. Motivators, on the other hand, create satisfaction by fulfilling individuals' needs for meaning and personal growth. They are issues such as achievement, recognition, the work itself, responsibility and advancement. Once the hygiene areas are addressed, said Herzberg, the motivators will promote job satisfaction and encourage production.

Applying the theory

To apply Herzberg's theory to real-world practice, let's begin with the hygiene issues. Although hygiene issues are not the source of satisfaction, these issues must be dealt with first to create an environment in which employee satisfaction and motivation are even possible.

Company and administrative policies. An organization's policies can be a great source of frustration for employees if the policies are unclear or unnecessary or if not everyone is required to follow them. Although employees will never feel a great sense of motivation or satisfaction due to your policies, you can decrease dissatisfaction in this area by making sure your policies are fair and apply equally to all. Also, make printed copies of your policies-and-procedures manual easily accessible to all members of your staff. If you do not have a written manual, create one, soliciting staff input along the way. If you already have a manual, consider updating it (again, with staff input). You might also compare your policies to those of similar practices and ask yourself whether particular policies are unreasonably strict or whether some penalties are too harsh.

Supervision. To decrease dissatisfaction in this area, you must begin by making wise decisions when you appoint someone to the role of supervisor. Be aware that good employees do not always make good supervisors. The role of supervisor is extremely difficult. It requires leadership skills and the ability to treat all employees fairly. You should teach your supervisors to use positive feedback whenever possible and should establish a set means of employee evaluation and feedback so that no one feels singled out.

Salary. The old adage "you get what you pay for" tends to be true when it comes to staff members. Salary is not a motivator for employees, but they do want to be paid fairly. If individuals believe they are not compensated well, they will be unhappy working for you. Consult salary surveys or even your local help-wanted ads to see whether the salaries and benefits you're offering are comparable to those of other offices in your area. In addition, make sure you have clear policies related to salaries, raises and bonuses.

Interpersonal relations. Remember that part of the satisfaction of being employed is the social contact it brings, so allow employees a reasonable amount of time for socialization (e.g., over lunch, during breaks, between patients). This will help them develop a sense of camaraderie and teamwork. At the same time, you should crack down on rudeness, inappropriate behavior and offensive comments. If an individual continues to be disruptive, take charge of the situation, perhaps by dismissing him or her from the practice.

Working conditions. The environment in which people work has a tremendous effect on their level of pride for themselves and for the work they are doing. Do everything you can to keep your equipment and facilities up to date. Even a nice chair can make a world of difference to an individual's psyche. Also, if possible, avoid overcrowding and allow each employee his or her own personal space, whether it be a desk, a locker, or even just a drawer. If you've placed your employees in close quarters with little or no personal space, don't be surprised that there is tension among them.

Before you move on to the motivators, remember that you cannot neglect the hygiene factors discussed above. To do so would be asking for trouble in more than one way. First, your employees would be generally unhappy, and this would be apparent to your patients. Second, your hardworking employees, who can find jobs elsewhere, would leave, while your mediocre employees would stay and compromise your practice's success. So deal with hygiene issues first, then move on to the motivators:

Work itself. Perhaps most important to employee motivation is helping individuals believe that the work they are doing is important and that their tasks are meaningful. Emphasize that their contributions to the practice result in positive outcomes and good health care for your patients. Share stories of success about how an employee's actions made a real difference in the life of a patient, or in making a process better. Make a big deal out of meaningful tasks that may have become ordinary, such as new-baby visits. Of course employees may not find all their tasks interesting or rewarding, but you should show the employee how those tasks are essential to the overall processes that make the practice succeed. You may find certain tasks that are truly unnecessary and can be eliminated or streamlined, resulting in greater efficiency and satisfaction.

Achievement. One premise inherent in Herzberg's theory is that most individuals sincerely want to do a good job. To help them, make sure you've placed them in positions that use their talents and are not set up for failure. Set clear, achievable goals and standards for each position, and make sure employees know what those goals and standards are. Individuals should also receive regular, timely feedback on how they are doing and should feel they are being adequately challenged in their jobs. Be careful, however, not to overload individuals with challenges that are too difficult or impossible, as that can be paralyzing.

Recognition. Individuals at all levels of the organization want to be recognized for their achievements on the job. Their successes don't have to be monumental before they deserve recognition, but your praise should be sincere. If you notice employees doing something well, take the time to acknowledge their good work immediately. Publicly thank them for handling a situation particularly well. Write them a kind note of praise. Or give them a bonus, if appropriate. You may even want to establish a formal recognition program, such as "employee of the month."

Responsibility. Employees will be more motivated to do their jobs well if they have ownership of their work. This requires giving employees enough freedom and power to carry out their tasks so that they feel they "own" the result. As individuals mature in their jobs, provide opportunities for added responsibility. Be careful, however, that you do not simply add more work. Instead, find ways to add challenging and meaningful work, perhaps giving the employee greater freedom and authority as well.

Advancement. Reward loyalty and performance with advancement. If you do not have an open position to which to promote a valuable employee, consider giving him or her a new title that reflects the level of work he or she has achieved. When feasible, support employees by allowing them to pursue further education, which will make them more valuable to your practice and more fulfilled professionally. Motivators, such as recognition and achievement, make workers more productive, creative and committed.

The trickle-down effect

While there is no one right way to manage people, all of whom have different needs, backgrounds and expectations; Herzberg's theory offers a reasonable starting point. By creating an environment that promotes job satisfaction, you are developing employees who are motivated, productive and fulfilled. This, in turn, will contribute to higher quality patient care and patient satisfaction.

Job satisfaction: six factors

Opportunity

Employee survey studies show that employees are more satisfied when they have challenging opportunities at work. This includes chances to participate in interesting projects, jobs with a satisfying degree of challenge, and opportunities for increased responsibility. Important: this is not simply "promotional opportunity." As organizations have become flatter, promotions can be rare. People have found challenge through projects, team leadership, special assignments - as well as promotions.

Actions:

• Promote from within when possible.
• Reward promising employees with roles on interesting projects.
• Divide jobs into levels of increasing leadership and responsibility.

It may be possible to create job titles that demonstrate increasing levels of expertise which are not limited by availability of positions. They simply demonstrate achievement.

Stress

When negative stress is continuously high, job satisfaction is low. Jobs are more stressful if they interfere with employees' personal lives or are a continuing source of worry or concern.

Actions:

• Promote a balance of work and personal lives. Make sure that senior managers model this behavior.
• Distribute work evenly (fairly) within work teams.
• Review work procedures to remove unnecessary "red tape" or bureaucracy.
• Manage the number of interruptions employees have to endure while trying to do their jobs.
• Some organizations utilize exercise or "fun" breaks at work.

Leadership

Data from employee satisfaction surveys has shown employees are more satisfied when their managers are good leaders. This includes motivating employees to do a good job, striving for excellence, or just taking action.

Actions:

• Make sure your managers are well trained. Leadership combines attitudes and behavior. It can be learned.
• People respond to managers that they can trust and who inspire them to achieve meaningful goals.

Work Standards

Again, our NBRI employee survey data points out that employees are more satisfied when their entire workgroup takes pride in the quality of its work.

Actions:

• Encourage communication between employees and customers. Quality gains importance when employees see its impact on customers.
• Develop meaningful measures of quality. Celebrate achievements in quality.

Trap: Be cautious of slick, "packaged" campaigns that are perceived as superficial and patronizing.

Fair Rewards

Employees are more satisfied when they feel they are rewarded fairly for the work they do. Consider employee responsibilities, the effort they have put forth, the work they have done well, and the demands of their jobs.

Actions:

• Make sure rewards are for genuine contributions to the organization.
• Be consistent in your reward policies.
• If your wages are competitive, make sure employees know this.
• Rewards can include a variety of benefits and perks other than money.

As an added benefit, employees who are rewarded fairly, experience less stress.

Adequate Authority

Employees are more satisfied when they have adequate freedom and authority to do their jobs.

Actions:
When reasonable:

• Let employees make decisions.
• Allow employees to have input on decisions that will affect them.
• Establish work goals, but let employees determine how they will achieve those goals. Later reviews may identify innovative "best practices."
• Ask, "If there were just one or two decisions that you could make, which ones would make the biggest difference in your job?"

Corporate Governance: An Introduction

Introduction

The history of incorporation of company has come from 13^th century but present types of statutory provision of incorporation have come only from 17^th century from UK. From the beginning to 1990s the corporation came running under managing model by which the world has faced so many corporate scandals. Large corporate failures have often stimulated debate about corporate governance, leading to regulatory action and other reforms. In the UK the collapse of the Maxwell publishing group at the end of the 1980s stimulated the Cadbury code of 1992, and cases through the 1990s such as Poly Peck, BCCI and recently Marconi stimulated a series of further enquiries and recommendations. Widespread distress among banks in Korea in 1997 was viewed as not only macroeconomic in origin but as also reflecting governance weaknesses. Large failures of both financial and non-financial institutions in Japan have also led to regulatory responses and to legal changes. Finally, the cases of Enron, World Com and Tyco have initiated major debate and legislation in the USA.

        All mentioned failures were cause of ‘managing’ model beyond the ‘governing’ If we see the traditional managing model , the CEOs held real power and have picked directors who served at their pleasure.     But 1990 onwards, company does not want to depend on managers. While the paid team of manager could not drive the company, as not being & owner they dose not have the feeling of loosing they always been ready to desert the company and goes elsewhere with handsome remuneration. Instead of that the new concept has been introduced as corporate governance in which the first step company’s governance the system is rethinking the role of directors.

Now in the world there are so many efforts going on to enhance corporate governance but the OECD (Organization of Economic Co-operation and Development) has been able to governance the world through benchmark guiding principles of corporate governance. The principles are being applied in OECD members and non member countries and the international agencies like World Bank, IMF, and IFC and so on are evaluating the national corporate governance mechanism at par of the OECD principles. So the OECD principles of corporate governance are being must important and have developed 6 steps of discipline as principles as bellow:

I. Ensure effective corporate governance framework:

This is based on the new principles of OECD added from 2004. This new principles has focused on the basis to the framework to ensure corporate governance. It requires adequate legal framework. The legal aspect of the corporate governance framework should promote transparent and efficient markets, be consistent with the rule of law and clearly articulate the division of responsibilities among different supervisory, regulatory and enforcement authorities. The corporate governance framework should be developed with a view to its impact on overall economic performance, market integrity and the incentives it creates for market participants and the promotion of transparent and efficient markets. The legal and regulatory requirements that affect corporate governance practices should be consistent with the rule of law, transparent and enforceability. The division of responsibilities among different authorities should be clearly articulated and ensure that the public interest is served. Supervisory, regulatory and enforcement authorities should have the authority, integrity and resources to fulfill their duties in a professional and objective manner. Moreover, their rulings should be timely, transparent and fully explained.

II. Rights of shareholders:

          As a second steps it has dealt on the rights of shareholders. Shareholders are the owners of the company. They control the company by appointing the board of directors to act as their representatives. Shareholders are eligible to make decisions on any of significant corporate changes. Therefore, the company should encourage shareholders to exercise their rights. Basic shareholders rights are rights to:

          1) Buy, sell, or transfer shares

          2) Share in the profit of the company

          3) Obtain relevant and adequate information on the company in a timely manner and on a regular basis

          4) Participate and vote in the shareholder meetings to elect or remove members of the board, appoint the external auditor, and make decisions on any transactions that affect the company such as dividends payment, amendments to the company’s articles of association or the company’s bylaws, capital increases or decreases, and the approval of extraordinary transactions, etc.

                        III. Equitable Treatment of Shareholders:

Just and equal treatment is important to the shareholders. All shareholders, including those with management positions, non-executive shareholders and foreign shareholders should be treated in an equal way. Minority shareholders whose rights have been violated should be redressed. An important factor of shareholders who invest in a company is that they can trust that the company’s board of directors and management use their money appropriately. The board of directors should ensure that all shareholders rights are protected and that they all get fair treatment. The board of directors should ensure that all processes and procedures for shareholders meetings allow equitable treatment of all shareholders. There should be a clear procedure to allow minority shareholders to nominate candidates for director positions. Shareholders who cannot vote in person should be allowed to vote by proxy. The board should set procedures to prevent the use of inside information for abusive self dealing such as insider trading or related party transactions. All directors and executives should be requested to disclose to the board whether they and their related parties have any interest in any transaction or matter directly affecting the company. Directors and executives who have such interests should not participate in the decision making process on such issues.

IV. Role of Stakeholders

Stakeholders of a company should be treated fairly in accordance with their legal rights as specified in relevant laws. The board of directors should provide a mechanism to promote cooperation between the company and its stakeholders in order to create wealth, financial stability and sustainability of the firm. Stakeholders in corporate governance include, but are not limited to, customers, employees, suppliers, shareholders, investors, creditors, the community the company operates in, society, the government, competitors, external auditors, etc. The board of directors should set a clear policy on fair treatment for each and every stakeholder. The rights of stakeholders that are established by law or through mutual agreements are to be respected. Any actions that can be considered in violation of stakeholders’ legal rights should be prohibited. In order for stakeholders to participate effectively, all relevant information should be disclosed to them. There should be an effective way for stakeholders to communicate to the board any concerns about illegal or unethical practices, incorrect financial reporting, insufficient internal control, etc. The rights of any person who communicates such concerns should be protected. The board of directors should set clear policies on environmental and social issues.

V. Disclosure and Transparency

The board of directors should ensure that all important information relevant to the company, both financial and non-financial, is disclosed correctly, accurately, on a timely basis and transparently through easy-to-access channels that are fair and trustworthy. Important company information includes financial reports and non-financial information specified in the regulations of the Securities and Exchange Commission (SEC) and other relevant information such as the summary of the tasks of the board of directors and its committees during the year, corporate governance policy, environmental and social policies and the company’s compliance with the above-mentioned policies, etc. The quality of a company’s financial reports is vital for shareholders and outsiders to make investment decisions. The board of directors should be confident that all information presented in the financial reports is correct, in accordance with generally accepted accounting principles and standards, and has been audited by an independent external auditor. The chairman of the board and the managing director (MD or CEO) are in the best position to be spokespeople for the company. In addition, the board of directors should designate a person or a department to perform the “investor relations” function to communicate with outsiders such as shareholders, institutional investors, individual investors, analysts, the related government agencies, etc.

VI. Responsibilities of the Board

Ultimately corporate peace and prosperity upon the role and responsibility of the board. The board of directors plays an important role in corporate governance for the best interest of the company. The board is accountable to shareholders and independent of management. The board of directors should have leadership, vision, and independence in making decisions for the best interest of the company and all shareholders. The board should clearly separate its roles and responsibilities from those of management and monitor the company’s operations to ensure all activities are conducted in accordance with relevant laws and ethical standards. The structure of the board should consist of directors with various qualifications, which are skills, experience, and expertise that are useful to the company. Directors should commit to their responsibilities and put all efforts to create a strong board of directors. The director’s nomination process should be transparent, without any influence of controlling shareholders or management, and be credible to outsiders. For efficiency and effectiveness, the board of directors should set committees to study and screen special tasks on behalf of the board, especially issues that need unbiased opinions. Committees should have a clear scope of their work, roles and responsibilities as well as the working procedures such as meetings and reporting to the board. All directors should understand their roles and responsibilities and the nature of the company’s business. They should be ready to express their ideas independently and always update themselves.

Conclusion

 In Nepal the corporate governance thought has stimulated from the support of Asian Development Bank and World Bank from 2002.The world Bank has assess then company law provision and commented on the legal and regulatory mechanism. Recently new Nepalese Company Act 2006 and the Banking and Financial Institution Act 2006 has came into force and has contained sufficient provision towards corporate governance but all the actor’s function has not been accepted well and having some others discrepancies and ambiguity on the acts which can hope of descending as good in future.

Case Study : While dealing with equally empowered senior managers!

#1. Do you think you need to follow different strategy while dealing with equally empowered senior managers? How would you deal with stagnant team the one in this case?

If I have been appointed as consultant, I will I would prefer to do following things first:

1. Clarify what problem is? What the problem is not?
2. I identify any commons goals, values, assumptions.
3. I will doing experiments until I can find approach that’s gets through effectively.
4. I will keep conversations with Division chiefs and other staffs on issues, not personalities.
5. I will prefer to use simple wording to explain my position. And will practice my positions in advance until I know it well and can say effectively.
6. I will rehearse positive interaction before the meeting.
7. I will always keep my attitude positive
8. I will be clear myself, what I want /need from the other person. I will distinguish between two.
9. I will carefully watch out for old attitudes that are interfering with my current efforts.
10. I will make sure my body and verbal language are in agreement.
11. I will always try not to be side tracked into irrelevant arguments.
12. In case of difficult issue I will try to address in private.
13. I never take their dislike ness in personally.
14. I know walls also have mouth and ears; I will not discuss them with other people.
15. I will set limit on what I will put up with and stick to it.

With all above mentioned techniques, I try to reach consensus through Collaboration approach. As read carefully the biggest problem in this organization is:

1. Lack of communication between division heads and staffs.
2. Every division knows their job better, but never tried to what is going in other divisions.
3. All division do not have common goal, which is very essential to understand each other.
4. I found there are ego/personality clashes, which is very bad for the organization interest.

I will suggest following Solutions as consultant:

1. Director and Dy Director must take lead making daily or weekly meeting with the division heads. So that each division heads must know each other and share the experiences of their division and future planning with each others.

2. Every division head must conduct at weekly meeting with all staffs member of their division and share the plans and programs of the division and concern issues of the division rose in departmental meeting.

3. Standard Operating Procedure (SOP) of department must drafted and implemented for the clear responsibility, accountability and working procedure.

4. Director and Dy Director must be responsible for implementing and monitoring SOP in all divisions.

5. Resource allocation and developmental opportunities must equally distribute to all division, according to the needs and with proper justification.

6. Monitoring and feedback system must adopted strongly according To the SOP.

7. Grievances handing of the organization staff must be on time, so that the morale and productivity are not affected.

8. Director and Dy director must be the role models for whole department.

Do you think that avoiding is an appropriate strategy for the divisional heads to solve their difference? Explain.

I do not thing avoiding is good strategy for the divisional heads to solve their differences. Avoiding is just not paying attention to the conflict and not taking any action to resolve it. It encourages impunity in the organization and slowly it will ruin the morale and productivity of the department. Even in this case of study division heads tried to best to solve this problem just ignoring or avoiding it, but they could get positive result. At last problem reached to Director and his Deputy level. So usually this approach tends to worsen the conflict over time.