Corporate Governance’s relevance to Public Services

By Priya Chetty on January 11, 2012

The principles or corporate governance are not new and apply to all organizations equally. However, public companies are inherently different to public service bodies as they are subject to a common statutory framework and share similar objectives, legal and managerial structures, and external reporting responsibilities. Organizations within the public sector are subject to a wide assortment of different legislative requirements and are more diverse in terms of their structure, scope and objectives.

  1. The main characteristics that define the public services and distinguish them from the private sector are:
  2. The level and nature of services are determined by political choices;
  3. Public service bodies have to satisfy a more complex set of political, economic and social objectives than a commercial company, and are subject to a different set of external constrains and influences.
  4. Public service bodies are subject to forms of accountability to their various stakeholders, including the community at large and higher levels of government, that are different to those, which a company owes to its shareholders.
  5. Public service bodies are expected to manage their affairs in accordance with a public service philosophy, based on a distinct set of values and the highest ethical standards of probity and propriety, which apply in particular to the handling of public money.

In most areas of the public services, auditors have a wider range of  responsibilities for   reporting on the activities of organizations that is the case in the corporate sector, covering not only the financial statements, but also ‘value for money’ and public interest issues.

Priya is the co-founder and Managing Partner of Project Guru, a research and analytics firm based in Gurgaon. She is responsible for the human resource planning and operations functions. Her expertise in analytics has been used in a number of service-based industries like education and financial services.

Her foundational educational is from St. Xaviers High School (Mumbai). She also holds MBA degree in Marketing and Finance from the Indian Institute of Planning and Management, Delhi (2008).

Some of the notable projects she has worked on include:

  • Using systems thinking to improve sustainability in operations: A study carried out in Malaysia in partnership with Universiti Kuala Lumpur.
  • Assessing customer satisfaction with in-house doctors of Jiva Ayurveda (a project executed for the company)
  • Predicting the potential impact of green hydrogen microgirds (A project executed for the Government of South Africa)

She is a key contributor to the in-house research platform Knowledge Tank.

She currently holds over 300 citations from her contributions to the platform.

She has also been a guest speaker at various institutes such as JIMS (Delhi), BPIT (Delhi), and SVU (Tirupati).

 

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