Life Development Foundation recognises the importance of good corporate governance for purposeful and successful entrepreneurship.

We have developed a set of code, based on the 4Ps of Corporate Governance, in the form of Corporate Governance System Standard, that will enable companies to benchmark their corporate governance practices with that of practices followed in world‘s greatest organisations.

Download Standard PDF ZIP

Launch Seminar

The first version was released at the Seminar on 4Ps of Corporate Governance Turning Rhetoric into Reality on 28th January 2006 at PHD Chamber of Commerce, New Delhi. The seminar was graced by eminent dignitaries including the following:

Principle of Corporate Governance

While drafting the standard, following fundamental principles have been followed

The standard is not restricted to listed companies but can be easily implemented in all forms of organisations regardless of type, size and legal status. Important features of this system standard are:

Contents of CG System Standard


1 Purpose, Scope and Application

1.1 Purpose

1.2 Application

1.3 Fundamental Principles

2 Terms and Definitions

3 Corporate Governance System

3.1 General

3.2 Documentation requirement

3.3 Implementation and monitoring

4 People Focus

4.1 General

4.2 Equity

4.2.1 EquitableTreatment of Stakeholders

4.2.2 National Interest

4.3 Ethics

4.3.1 Integrity, Propriety and Independence

4.3.2 Disclosure and Transparency

4.3.3 Fair Trade Practices

4.3.4 Respect for Competition

4.3.5 Anti-corruption Practices

4.3.6 Curbing Money Laundering

4.3.7 Intellectual Property

4.3.8 Counterfeiting

4.3.9 Closure Notice

4.4 Relationships

4.4.1 Stakeholder Engagement

4.4.2 Cultural Respect

4.4.3 Conflict of Interest

4.4.4 Dispute Resolution

4.4.5 Preventing Harassment

4.4.6 Confidentiality

5 Purpose of organisation

5.1 Vision, mission and policies

5.2 Strategy

5.2.1 Strategic Management Team

5.2.2 Strategic Action Plan

5.2.3 Capacity Building Plan

6 Process Management, Compliance and Innovation

6.1 General

6.2 Management Processes

6.2.1 Organisation management Decision making process Responsibility, authority and accountability Communication and coordination

6.2.2 Resource management General Human resources management Workforce Planning and Staffing Participatory Culture Performance Management Training and Development Compensation Management Workforce competency management Infrastructure management General Preventive and Corrective Maintenance Damage, impairment and discontinuance Work environment, occupational health and safety Financial management General Financial Planning Working Capital Management Investment Analysis Capital Structure Safeguards against fraud

6.2.3 Supply chain management General Product or service requirement analysis Production and service provision Procurement of inputs Material handling and storage Distribution

6.2.4 Marketing and brand promotion

6.2.5 Outsourced process management

6.2.6 Environment & energy management Environment protection Handling of hazardous substances Conservation of energy and natural resources

6.2.7 Relationship management

6.2.8 Information system management

6.2.9 Risk & disaster management Risk Management Disaster Management

6.3 Compliance Process

6.3.1 General

6.3.2 Preventive mechanism

6.3.3 Assurance and comfort to stakeholders

6.4 Innovation

6.4.1 Research and Development Team

6.4.2 Knowledge Management

6.4.3 Benchmarking

6.4.4 Review and Audit

7 Performance Orientation

7.1 General

7.2 Efficiency Resource use and processes

7.3 Growth in economic, social and environment performance

7.3.1 Growth in economic performance

7.3.2 Growth in social performance

7.3.3 Growth in environment performance

Download Standard PDF ZIP