Holistic Development of Indian Banking Industry
- June 12, 2018
- Posted by: RSIS
- Category: Management
International Journal of Research and Scientific Innovation (IJRSI) | Volume V, Issue V, May 2018 | ISSN 2321–2705
Sadhvi Mehrotra#, Subhash Sharma*, Divya Kirti Gupta&
#Department of Management Studies, Dayanand Academy of Management Studies, Kanpur, Uttar Pradesh, India
*Director, Indus Business Academy, Bangalore, Karnataka, India
&Associate Professor, GITAM University, Hyderabad Business School, Hyderabad, India
Abstract- Organizational Values serve as a catalyst in the development of the culture of the organization and those values shape the norms and behavior of its employees. This is because a better human being focuses his/her energy on positive aspects of life and thereby contributes to synergy at the workplace. HQD (Human Quality Development) helps us to become better human beings in addition to being good at skills. Sharma (2007) said, HQD is important for development of Organizations.
According to Prof. Subhash Sharma (2002), the essence of HQD lies in the idea of Character Competence of Corporation. While the concept of ‘Core Competence’ is useful at the enterprise level, the idea of ‘Character Competence’ is at the root of enlightened leadership of enterprises (Sharma, 2007).
The new concern in the corporate world is ‘good governance’. To achieve the expected result in the modern era Stakeholders are expecting the corporations to behave in an ethical manner. This implies the need for holistic development. However, today these aspects have become important for organization’s sustainability. It envisaged that measuring performance based on ‘Character Competence of the Organization’ will pave a way in this direction.
The paper will encompass the foundational concept and factors that are important for Character Competence that will lead to organization’s sustainability and progressive growth of Indian Banks. The concept of Character Competence is grounded in the notion that when corporate governance towards good governance will be in effect in the Banking organizations it will lead to organizational growth.
Keywords – Character Competence, Corporate Governance, Good Governance, Human Quality Development, Organization’s Sustainability.
Every nation is guided by certain norms, traditions that are shared by the government and the citizens. A national commitment to such values greatly influences the content and the quality of governance. “In the words of Wolfensohnn (1999), “Corporate Governance is about promoting corporate fairness, transparency, and accountability.”