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Business Ethics, Governance & Risk
April 2024 Examination
1. Choose any ONE listed company from the BSE/NSE list of top 150 companies by turnover. Locate the Business Responsibility & Sustainability Report or ESG Report (under Statutory/Directors Report) in the Annual Report of 2022-23. Read through the following;
• Section C, Principle 3, 4 and 5 (in BRSR)
• Chairman and/or CEO’s letter (in annual report)
• Business strategy (in annual report)
• Risk management (in annual report)
• ESG performance (in annual report/ BRSR)
• Company website (ESG / sustainability)
• Sustainability/Integrated report (if available)
Collate the information disclosed under these 3 principles from all the above information sources and prepare an executive summary, in your own words, on the company’s philosophy, approach/policy, initiatives and social performance data that showcases its commitment towards its stakeholders, both internal and external. (10 Marks)
Ans 1.
Introduction
Tata Consultancy Services (TCS), a globally renowned IT services, consulting, and business solutions organization, demonstrates a strong commitment to ethical business practices, effective governance, and comprehensive risk management. As a part of the BSE/NSE top 150 companies, TCS’s approach to Business Responsibility & Sustainability (BRS) is a testament to its dedication towards its stakeholders, encompassing employees, clients, society, and the environment. The Business Responsibility & Sustainability Report (BRSR) and ESG Report for 2022-23, along with the Chairman and CEO’s letters, articulate TCS’s strategic orientation towards sustainability and ethical practices. These documents, coupled with the company’s website and
2) Go through the ‘Management Discussion and Analysis’ section of the annual report of the company selected in Q1 and prepare an analytical write up on the Risk Management Framework of the company, select any three risks which according to you are critical for this company and explain why do you think they are critical and what are the mitigation strategies deployed by the company to effectively manage them. (10 Marks)
Ans 2.
Introduction
In the rapidly evolving landscape of global business, risk management remains a pivotal aspect of organizational resilience and success, especially for technology giants like Tata Consultancy Services (TCS). The ‘Management Discussion and Analysis’ section of TCS’s annual report provides a comprehensive overview of its Risk Management Framework, highlighting how the company identifies, assesses, and mitigates potential risks. This proactive approach is crucial in navigating the complex challenges faced by TCS in its operations. The framework not only aligns with the company’s strategic objectives but also
3) You have studied Business Ethics as a structured subject for the first time.
a) Provide a personal observation as to how it has influenced/altered your perception and understanding of the process of doing business? (5 Marks)
Ans 3a.
Introduction
Studying Business Ethics as a formal subject has been an enlightening experience, significantly altering my perspective on the business world. Previously, my understanding of business was primarily focused on profitability, efficiency, and market competitiveness. However, delving into Business Ethics has revealed the profound impact of ethical considerations on these traditional business objectives. This journey into the realm of ethical
b) Explain three ways/examples in which you will apply ethical decision-making process/tools in your day-to-day business decision-making process, whatever be the type of your current business, function, role and designation. (5 Marks)
Ans 3b.
Introduction
The incorporation of ethical decision-making processes into daily business activities is fundamental to fostering a culture of integrity and responsibility. Regardless of the nature of my current role, applying ethical principles is pivotal in guiding my actions and decisions. This approach not only enhances the trust and credibility of the business but also aligns with
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