Business Ethics and Corporate Governance, Second Edition

SUCCESSFUL STRATEGIES—ONE SIZE DOES NOT FIT ALL

Many international organizations are funding corporate governance initiatives that aim to put in place developed country models of corporate governance. More often than not, this fails to instill or improve corporate governance because these models are not designed for local realities and challenges. As a result, indigenous groups are then faced with the task of adapting the international model to local conditions. In India, for instance, attempts by international organizations such as the World Bank, the International Monetary Fund and the WTO to promote transparency, accountability and such healthy practices have not been taken kindly by a vast section of political spectrum. The critics complain ...