‘Saha Viryam’ – The Excel Way To Balanced Development Through Ethical Governance

Abstract

Ethical governance is at the foundation of balanced development which focuses on both wealth creation and social responsibility simultaneously. Ethical governance ensures that the vision of the firm is stated in balanced terms and provides the leadership thrust that helps in the successful implementation of the balanced strategy. Corporate governance also helps in building a culture in which every member is motivated to pursue the balanced strategy with zeal. This paper discusses how the balanced development has been achieved using ethical governance by ‘Excel Industries’ (Excel), a specialty agro-chemicals manufacturer in India. The paper provides an in-depth discussion of how the various governance issues in this company have been integrated to achieve business growth as well as the farmer's life transformation. The paper draws lessons from the case of Excel for understanding the importance of ethical corporate governance in promoting balanced development.