A

Project report on

Business Ethic Lab

Master of Business Administration (MBA)

ARYA COLLEGE OF ENGINEERING

Batch : 2023-2025

SUBMITTED TO SUBMITTED BY

Ms. Sandhika Kothari Poonam Tanwar

Assistant Professor MBA 2nd SEM.
Dept. Of MBA 23MACXX634

RAJASTHAN TECHNICAL UNIVERSITY, KOTA

DEPT. OF MBA

SP-40 RIICO INDUSTRIAL AREA, KUKAS, JAIPUR

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 DECLARATION

I undersigned, hereby declare that the project titled Business Ethic Lab submitted in partial
fulfilment for the award of Degree of Master of Business Administration of Rajasthan
Technical University, Kota is a bonafide record of work done by me under the guidance of
Ms. Sandhika Kothari, Arya College of Engineering. This report has not previously formed
the basis for the award of any degree, diploma, or similar title of any University.

Signature
Date: Poonam Tanwar

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 ACKNOWLEDGEMENT

Through this acknowledgement I express my sincere gratitude towards all those people who
helped me in this project, which has been a learning experience. This space wouldn’t be
enough to extend my warm gratitude towards my faculty guide Ms. Sandhika Kothari for
efforts in coordinating with my work and guiding in right direction. I escalate a heartfelt
regard to our Institution Arya College of Engineering for giving me the essential hand in
concluding this work. It would be injustice to proceed without acknowledging those vital
supports I received from my beloved classmates and friends, without whom I would have
been half done. I also use this space to offer my sincere love to my parents and all others
who had been there, helping me walk through this work.

Poonam Tanwar

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 DEPARTMENT OF MANAGEMENT

CERTIFICATE
This is to certify that the report titled “Business Ethic Lab” being submitted by Poonam
Tanwar, in partial fulfilment of the requirements for the award of the Degree of Master of
Business Administration, RTU Kota, is a bonafide record of the project work done by of
Dept. of MBA, Arya College of Engineer.

Faculty Coordinator External Examiner

Ms. Sandhika Kothari
Assistant Professor

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A. CORPORATE LESSONS FROM MAHABHARAT

Long ago, there was a battle named Mahabharata that was fought between the Kauravas and the Pandavas.
They were cousins. It was fought for the Kingdom. The Pandavas was known for following ethics and the
Kauravas were shrewd. The Kauravas snatched everything from the Pandavas by playing a dice game. They
misbehaved with the Pandavas and their wife Draupadi gave them punishment for losing the game to remain
in exile and live in disguise, tried to kill them, and made them suffer a lot. As a result, the Pandavas and the
Kauravas got into a battle called the Mahabharat. It was massively destructive. Both sides were very powerful
and intellectual. Many smart tricks were used by the Pandavas under the leadership of Krishna to win the
battle. Various management lessons can be learned from the Mahabharat. The Pandavas were Yudhishthir,
Bheem, Arjun, Nakul, and Sahadev. Kunti was their mother and Pandu was their father. The Kauravas was
Duryodhan, Dushasan, and 98 more brothers along with a sister, Dushala. Their parents were Dhritarashtra
and Gandhari, who were blind.

Mahabharata, an ancient Indian epic, is not only a rich literary and cultural work but also offers valuable
insights into various aspects of life, including corporate and leadership lessons. Here are some corporate
lessons that can be drawn from the Mahabharata:

1. Ethical Leadership

The epic emphasizes the importance of ethical leadership. King Dharmaraja, also known as Yudhishthira, is
often considered a model of righteousness and ethical decision-making. Leaders should prioritize ethical
principles over personal gain and power.

2. Strategic Planning

The various strategies used in the Kurukshetra War showcase the significance of strategic planning. Krishna's
guidance to Arjuna exemplifies the importance of well-thought-out strategies in achieving goals.

3. Team Collaboration

The Pandavas' unity and collaboration are vital to their success. In a corporate context, effective teamwork
and collaboration among team members lead to better outcomes.

4. Effective communication

The role of communication is evident in the relationships and alliances formed in the Mahabharata. Clear and
open communication is essential for avoiding misunderstandings and conflicts in the corporate world.

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5. Conflict Resolution

The Mahabharata explores different approaches to conflict resolution. Lessons can be drawn from Krishna's
mediation and diplomacy in resolving disputes, highlighting the importance of peaceful solutions.

6. Decision Making

The characters' dilemmas and choices demonstrate the complexities of decision-making. Arjuna's dilemma on
the battlefield reflects the significance of making decisions aligned with values and principles.

7. Resilience & Adaptability

The characters in the Mahabharata face numerous challenges and setbacks. Their resilience and ability to adapt
to changing circumstances underline the importance of flexibility in corporate environments.

8. Risk Management

The characters' choices and consequences illustrate the concept of risk management. Analyzing risks, making
informed decisions, and having contingency plans are essential for corporate leaders.

9. Learning from mistakes

The epic also portrays the consequences of mistakes and wrong decisions. Leaders should be willing to
acknowledge their mistakes, learn from them, and take corrective measures.

10. Long Visions

The lessons from Bhishma's foresight and wisdom emphasize the value of having a long-term vision.
Corporate leaders should consider the long-term implications of their decisions.

11. Humility & Ego management

The fall of Duryodhana due to his arrogance highlights the importance of humility and ego management in
leadership. Arrogance can lead to downfall, while humility fosters respect and collaboration.

12. Innovations

Arjuna's use of the Shiv astra (an innovative weapon) underscores the importance of innovation and
adaptability in overcoming challenges.

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13. Participation of Women:

Pandavas always gave respect to women and their decisions. Kunti, Draupadi, and Subhadra are a few
influencing female characters in Mahabharata. On the other side, Kauravas were all patriarchal structure.
Gandhari was not heard and there was no participation of women in decision-making.

14. Commitment and Common Goal

On Kauravas's side, one had a personal bias. On the other side, Pandavas were committed wholeheartedly and
were willing to achieve the common goal. The Pandavas never stopped fighting for what rightfully belonged
to their courage and determination are something to admire and learn from.

15. Innovative Thinking

There were 100 Kauravas. They were not naturally born but made with the help of test tube technology. It is
said that Duryodhan was the first test tube baby in the world. There were no Laboratories at that time. It was
done with the help of mud pots. Mud pots provided the required temperature for the growth of an embryo and
worked as test tubes. It was an invention but the result of innovative thinking.

Gandhari wanted to give birth to more sons with the vision to build the foundation of a stronger kingdom. It
is easy to create a brand name when a business start-up, a new product, or service is launched with an
innovation

16. Selection of Resources

When the battle was going to begin, most of the other armies were also involved by the Kauravas and the
Pandavas; Arjun and Duryodhan went to ask for favors from King Krishna. Arjun asked Krishna himself to
work as the driver of his Chariot. On the other hand, Duryodhan asked for his army. Krishna and his
leadership with the Pandavas were one of the major reasons behind the victory of the Pandavas. He guided
them at every step. He played the role of the most important human resource.

When it comes to management, it is very necessary to select the right resources. Resources are not only raw
materials and other non-living things, but employees are also human resources. The selection of the right
resources is therefore significant.

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B. MANAGEMENT LESSONS FROM THE BHAGWAT GITA

The Bhagavad Gita, often referred to as the Gita, is a 700-verse Hindu scripture that is part of the Indian epic
Mahabharata. It is a dialogue between the prince Arjuna and the god Krishna, who serves as his charioteer.
While the Gita is primarily a spiritual and philosophical text, it contains numerous teachings that can also be
applied to management and leadership principles. Here are some management lessons that can be drawn from
the Bhagavad Gita:

1. Duty & Responsibility (Dharma)

The central theme of the Gita is Arjuna's moral dilemma about fighting in a war against his family members
and loved ones. Krishna advises Arjuna to fulfill his duty as a warrior without being attached to the
outcomes. In the context of management, leaders should focus on their responsibilities and duties, making
decisions based on what is right rather than personal desires or attachments.

2. Leadership by example

Krishna, as a charioteer, not only imparts wisdom through his words but also his actions. Effective leaders
lead by example, demonstrating the behaviors and qualities they expect from their team members.

3. Resilience and Perseverance

The Gita emphasizes the importance of perseverance in the face of challenges. Arjuna's initial reluctance to
fight is met with Krishna's reminder to face difficulties with courage and determination. In the business
world, leaders need to demonstrate resilience during tough times and inspire their teams to keep pushing
forward.

4. Decision Making

The Gita emphasizes the need for rational decision-making while being mindful of the consequences. Krishna
advises Arjuna to make decisions based on thoughtful analysis and not succumb to emotional impulses.
Similarly, in management, leaders should make decisions after careful consideration and understanding of the
potential outcomes.

5. Detachment from relation

Krishna encourages Arjuna to focus on the effort and action rather than becoming overly attached to the
results. This principle can be applied to management by emphasizing the importance of giving one's best effort
without being solely fixated on the immediate outcomes.

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6. Balancing Conflicting Interests

Arjuna faces a dilemma between his duty as a warrior and his love for his family members. Krishna advises
him to find a balanced approach between his various responsibilities. In management, leaders often need to
navigate conflicting interests and strike a balance between various stakeholders.

7. Self-awareness & Growth

The Gita encourages self-awareness and self-improvement. Arjuna's journey involves introspection and
personal growth. In management, leaders should continuously strive to enhance their skills, knowledge, and
self-awareness, which can contribute to better decision-making and leadership effectiveness.

8. Team Collaboration

The Gita emphasizes the importance of teamwork and collaboration. Krishna and Arjuna's relationship
symbolizes the partnership between a leader and their team. Effective managers foster a sense of unity and
cooperation among their team members.

9. Ethical Leadership

The Gita underscores the significance of ethical conduct and values. Leaders should uphold high ethical
standards and inspire their teams to do the same.

10. Mindfulness & Focus

The practice of mindfulness and concentration is highlighted in the Gita. Arjuna is advised to concentrate his
mind and senses during his tasks. In the business context, maintaining focus and mindfulness can lead to
improved productivity and better decision outcomes.

11. Identity, Recognize and Accept Equality in Life:

After facing many challenges in life, you tend to see all living and non-living things as equal. It doesn’t
matter if something is good or bad for you. You realize that the bodies are different but the soul is one.

12. Anger is a Weakness:

Anger can be a weakness that affects people’s judgment and causes them to make bad decisions. When
people are angry, they might do things that harm themselves or make it harder to reach their goals.

13. Be Generous

Wise people should perform acts of sacrifice, charity, and penance. These actions help to keep us pure.
Bhagavad Gita says that we should give back to the world in whatever way we can. So, we should be

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generous enough to give back. So if you are someone who has a roof over your head and food on your plate,
please help others in whatever ways you can. This will keep you grounded and help make someone’s day.

14. Be Approachable

Leaders should always share their knowledge and be approachable. Leaders should never seem distant. They
should be good teachers to their followers and good friends who help them move forward. Be prepared to
help them learn and succeed.

15. Ruthless Prioritization

People say that the intellect is good when it understands what is the right thing to do and what is the wrong
thing to do. The intellect is also good when it understands what we should do and what we should not do. It
is good when it knows what we should be afraid of and what we should not be afraid of.

16. Control your Desires

People sometimes have desires, but it’s important to not let them take control of your life. The Bhagavad
Gita has lessons that teach you how to deal with desires. Remember, doing bad things just to get what you
want is harmful. If you get caught up in the desire, it will only cause you harm.

17. Change is inevitable

We always feel guilty and worry about things that have already happened and things that might happen in the
future. This makes us unable to enjoy life in the present. We also lose focus on our goals. But Lord Krishna
says that everything that has happened, is happening, and will happen is for the good.

The Bhagavad Gita is a Hindu scripture with many lessons to offer business leaders. By being clear about
their goals, staying focused, and trusting in the divine, they can overcome any challenges and achieve
success.

Dharma” and its importance in the world of business

One of the most important concepts in the Bhagavad Gita is dharma. Dharma can be translated to mean
“duty,” “law,” or “righteousness.” It encompasses the idea of living in alignment with one’s true nature and
purpose. In the business world, dharma is about acting in ways that are beneficial to all parties involved,
including employees, customers, shareholders, and society as a whole. When making decisions, business
leaders should always consider dharma. What is the most moral and ethical course of action? What will
create the best for the greatest number of people? Acting by dharma can help businesses build trust and
goodwill, both with their employees and the general public.

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C. ETHICAL LEADERSHIP STORY OF SIR RATAN AND INDIA’S TATA GROUP

Sir Ratan Tata, a prominent figure in the Tata Group, is often celebrated for his embodiment of ethical
leadership and his commitment to social responsibility. One of the most notable stories that showcase his
ethical leadership involves the Tata Group's response to the 2008 terrorist attacks in Mumbai, India.

In November 2008, a series of coordinated terrorist attacks took place across Mumbai, including an assault
on the iconic Taj Mahal Palace Hotel. The attack resulted in a significant loss of life and extensive damage to
the hotel. Despite the tragic circumstances, the response of the Tata Group, which owns the Taj
Hotel, demonstrated their commitment to ethical leadership and social responsibility.

1. Swift Action & Employee Safety

As the attacks unfolded, the Tata Group took immediate action to ensure the safety of hotel guests and
employees. Many employees displayed remarkable courage, going above and beyond their duties to assist
guests and protect their well-being.

2. No Layoffs

Following the attacks, the hotel was closed for repairs and restoration. Despite the financial strain and loss of
revenue, the Tata Group made a remarkable decision: they did not lay off a single employee during the
closure. This decision showcased their commitment to their employees' welfare and their understanding
of the importance of long-term relationships.

3. Rebuilding & Renewals

The Taj Mahal Palace Hotel underwent extensive renovations to restore its former glory. The commitment to
rebuilding wasn't just about restoring the physical structure; it symbolized resilience, revival, and a refusal to
be defeated by tragic events.

4. Caring for families

The Tata Group extended its support to the families of the employees who had lost their lives during the
attacks. This gesture highlighted the organization's sense of responsibility towards its employees and their
loved ones.

5. Ethical Values

The Tata Group's response was grounded in the ethical values that have been a hallmark of their leadership
for generations. Sir Ratan Tata himself had emphasized the importance of acting ethically and responsibly,
even if it meant short-term challenges.

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6. Leadership with Trust

Tata Group had sought to function with ethics, integrity, social consciousness, and fairness. • The Group's
strategy of leadership with trust sought to achieve higher value for its stakeholders, better returns for society,
and an ethical model of business. • The group had always been recognized as a value-driven organization. • A
unique feature of the group was that 63% of the Equity capital of Tata Sons was held by Tata Trust, which
was philanthropic.

7. Ratan Tata’s Response

Leadership is the ability or authority to guide and direct others toward the achievement of a goal. • Denied the
allegations of 2G Scam • 2010, Approached Supreme Court • In April 2011, CBI gave a clean chit to Tata
Group.

8. Mergers & Acquisitions

Tata controlling stake in VSNL. Purchased Switzerland-based Tyco International’s undersea telecom cables.
Acquired Daewoo commercial vehicles. Acquired Incat International (American auto and aerospace
company). Acquired hotels like The Pierre, Ritz Carlton, and Camden Place. The iconic acquisition of Jaguar
and Land Rover.

This story exemplifies Sir Ratan Tata's ethical leadership and the Tata Group's commitment to its stakeholders,
employees, and the community. The organization's actions went beyond profit and demonstrated a deep
understanding of their role in society and the impact they can have on people's lives. This approach not only
reinforced their reputation but also set an example for ethical leadership in the business world.

It's worth noting that this story is just one of many instances that reflect the Tata Group's commitment to
ethical principles and social responsibility. Their initiatives in areas such as education, healthcare, and
sustainable development further highlight their dedication to making a positive impact on society while
upholding strong ethical values.

D. CSR ACTIVITIES OF ITC

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As of my last knowledge update in September 2021, ITC Limited, an Indian conglomerate, is known for its
significant Corporate Social Responsibility (CSR) initiatives across various sectors. While specific initiatives
may have evolved since then, here are some examples of the types of CSR activities that ITC was involved
in:

1. Social & Farm Forestry

ITC has been actively involved in promoting afforestation and reforestation programs to combat deforestation
and promote sustainable agricultural practices. The company has undertaken initiatives to encourage farmers
to plant trees on their land, helping improve soil health and providing additional income sources.

2. Livelihood Enhancement

ITC's CSR initiatives include programs aimed at enhancing the livelihoods of rural communities, particularly
farmers. This involves providing training, resources, and access to markets to improve agricultural practices,
increase yields, and create more sustainable income opportunities.

3. Water Stepwardship

ITC has worked on water conservation and management projects, especially in regions facing water scarcity.
Their initiatives include rainwater harvesting. Watershed development, and promoting efficient irrigation
practices to conserve water resources.

4. Health & Sanitation

ITC's CSR efforts also extend to healthcare and sanitation. They have been involved in building healthcare
facilities, conducting health camps, and promoting hygiene and sanitation practices in rural areas.

5. Education & Skill Development

ITC has invested in education initiatives to improve access to quality education in rural and underprivileged
communities. This includes supporting schools, vocational training centers, and scholarship programs.

6. Women Empowerment

ITC has supported programs that empower women through skill development, entrepreneurship training, and
providing opportunities for income generation. These initiatives aim to enhance the socio-economic status of
women in rural areas.

7. Community Development

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ITC's CSR activities often focus on holistic community development. This includes building infrastructure
like roads and community centers, providing clean energy solutions, and supporting community initiatives
that address local needs.

8. Livestock Development

In some regions, ITC has been involved in improving livestock management practices, providing veterinary
services, and supporting livestock-based livelihoods.

Protection Of National Heritage, Art and Culture:

This can include the restoration of heritage sites, buildings of historical importance, and works of art. Public
libraries can be set up as well.

It's important to note that CSR initiatives can evolve, and organizations like ITC may adapt their activities to
align with changing social and environmental needs. To get the most up-to-date information about ITC's
current CSR activities, I recommend visiting their official website or accessing their latest annual CSR reports.

CSR Policy

It is ITC's Policy to direct its CSR Programmes, inter alia, towards achieving one or more of the following -
poverty alleviation; promoting education and skill development; promoting healthcare including preventive
healthcare; providing sanitation and drinking water; ensuring environmental sustainability; enabling climate
resilience; rural development projects; creating livelihoods for people, especially those from disadvantaged
sections of society; protection of national heritage, art and culture; preserving and promoting music and sports;
and providing relief and assistance to victims of disasters and calamities.

In pursuit of the above, ITC has identified the following focus areas for its CSR Programmes based on
comprehensive need assessment surveys of its stakeholders:

•Create sustainable livelihoods and alleviate poverty through promotion of, inter alia, afforestation,
water stewardship, sustainable agriculture, and climate-smart practices, livestock development, and women
empowerment;

•Build capabilities for tomorrow through interventions in, inter alia, education, vocational training,
sanitation, school WASH (Water, Sanitation & Hygiene), safe drinking water and solid waste management;

•Promote healthcare, including preventive healthcare, and improve critical nutritional & health status
of at-risk populations through interventions to strengthen mother & child health, nutritional content, delivery,
outreach, and outcomes;

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• Protect national heritage, art & culture, and preserving & promoting music and sports; and

• Provide relief and assistance to victims of disasters and calamities.

The Company aims:

•To develop the required capability and self-reliance of beneficiaries at the grassroots, especially of
women, in the belief that these are pre-requisites for social and economic development;

• To engage in affirmative action interventions such as skill building and vocational training;

•To pursue CSR Programmes primarily in areas that fall within the economic vicinity of the
Company's operations to enable close supervision and ensure maximum developmental impact;

• To enter into public-private-people partnerships to multiply the impact of the CSR Programmes;

•To carry out CSR Programmes in relevant local areas to fulfill commitments arising from requests
by government / regulatory authorities;

• To provide equal opportunities to beneficiaries of the CSR Programmes;

•To promote sustainability in partnership with industry associations, like the Confederation of Indian
Industry (CII) through the CII-ITC Centre of Excellence for Sustainable Development.

Implementation

The Company's CSR Programmes will be implemented through (i) Company personnel, or

(ii) external implementing agencies, or (iii) ITC Trusts viz., ITC Education and Health Care Trust, ITC
Rural Development Trust, ITC Sangeet Research Academy, ITC

Bhadrachalam Education Trust and Tribeni Tissues Education Society, and (iv) such other Trusts, Societies,
Foundations, and Section 8 companies that may be established by the company from time to time.

In case CSR Programmes are implemented through external agencies or ITC Trusts, the Programmes to be
undertaken by those agencies or Trusts will be specified, and it will be ensured that such Programmes are
covered in the Objects laid down in the respective Trust Deeds / Memoranda and Articles of Association of
the external agencies / ITC Trusts / Governance

•The CSR and Sustainability Committee will review, monitor, and provide strategic direction to the
Company's CSR and sustainability practices towards fulfilling its Triple Bottom Line objectives. The

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 Committee will also guide the Company in crafting unique models to support the creation of sustainable
livelihoods together with environmental regeneration.

•Every year, the CSR and Sustainability Committee will place for the approval of the Board of
Directors of the Company (hereinafter referred to as 'the Board'), an annual CSR Action Plan (hereinafter
referred to as 'CSR Plan') delineating the CSR Programmes to be carried out during the financial year,
including the budgets thereof, their manner of execution, implementation schedules, modalities of
utilization of funds, and monitoring & reporting mechanism for the CSR Programmes. The Board will
consider and approve the CSR Plan with such modification that may be deemed necessary; the CSR Plan
may also be modified by the Board during the financial year, on the recommendation of the CSR and
Sustainability Committee.

•The Corporate Management Committee (hereinafter referred to as 'the CMC') will ensure that the
Company's CSR Programmes address major development challenges of the country and are aligned with the
priorities of the Government.

E. CASE INSTAGRAM AND THE ETHICS OF PRIVACY

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Instagram from 0 to $1 Billion in Two Years. Instagram considers itself a big fun way to share images with
friends. By downloading the free Instagram mobile application, Users snap images with cell phones and then
select from more than a dozen filters to give the images a special look. Instagram was created by Kevin
Systrom and Mike Krieger and launched in October 2010. After launching, Systrom and Krieger didn’t know
exactly what to expect, but 25,000 users showed up on the first day! Instagram hit one million users in three
months.

By 2010 December, Instagram had 1.5 million registered users. In June 2011 Instagram released a 5 million
users announcement, passing 10 million in 2010 September. Now, it is one of the biggest social networks with
more than 40 million sign-up users. The amount of daily users is very high, the images generate more than
600 likes per second and more than 85 comments per second.

In its largest acquisition deal to date, Facebook made an offer to purchase Instagram (with its 13 employees)
for approximately $1 billion in cash and stock in April 2012 with plans to keep the service independently
managed. "It's important to be clear that Instagram is not going away," Instagram CEO Kevin Systrom wrote
on his company blog. In December 2011, Apple named Instagram: the “iPhone App of the Year” the case of
Instagram and the ethics of privacy highlights several important considerations in the digital age where social
media platforms collect and utilize user data. Instagram, a popular photo and video-sharing social networking
service, is owned by Facebook (now Meta Platforms, Inc.). The platform has faced scrutiny and ethical
concerns related to user privacy in various ways:

1. Data Collection & Sharing

Instagram collects vast amounts of user data, including personal information, posts, likes, comments, and
location data. This data is used to personalize users' experiences and to target advertisements. However,
concerns arise when this data is shared with third parties without users' full understanding or consent.

2. User Consent

Instagram's terms of service and privacy policies can be complex and lengthy, leading to a lack of informed
consent from users. Many users might not fully comprehend the extent of data collection and how it is used,
leading to potential violations of privacy.

3. Third party Apps

Instagram's platform allows third-party apps to access user data through APIs (Application Programming
Interfaces). If not properly regulated, these apps can misuse or mishandle user data, leading to privacy
breaches.

4. Data Security

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 Ensuring the security of user data is crucial. Instances of data breaches or unauthorized access can expose
sensitive information, leading to privacy violations and potential harm to users.

5. Targeted Advertising

While personalized ads can improve the user experience, some users find the level of personalization invasive.
Instagram's practice of using user data to serve highly targeted ads raises ethical questions about the balance
between user experience and privacy.

6. Psychological Impact

The pressure to share curated and often idealized versions of one's life on Instagram can lead to negative
psychological effects, including feelings of inadequacy and low self-esteem. This can stem from a perceived
lack of privacy and the constant comparison with others.

7. Influence on Children & Teens

Instagram's popularity among younger users raises concerns about their ability to understand the implications
of sharing personal information and the potential long-term consequences on their privacy.

8. Ownership of Content

Users might assume they have full control over their content, but Instagram's terms often grant the platform
certain rights to use and distribute user-generated content, raising questions about ownership and control.

9. Algorithmic Influence

Instagram's algorithm-driven feed can impact users' experiences by showing content based on their behaviors.
However, this can also create echo chambers and filter bubbles that limit exposure to diverse perspectives.

Ethical considerations related to privacy on platforms like Instagram involve finding a balance between users'
expectations of privacy, their informed consent, and the platform's business model. Advocates for stronger
privacy ethics emphasize the importance of transparent data practices, giving users more control over their
data, and minimizing the potential for misuse or unauthorized access. Social media platforms, including
Instagram, are increasingly under pressure to enhance their privacy practices, provide clearer user agreements,
and address concerns about data collection and usage.

F. CORPORATE GOVERNANCE AT INFOSYS

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1. Independent BOD

Infosys has maintained a board of directors with a majority of independent directors. An independent board
helps ensure unbiased decision-making and oversight of company management.

2. Separation of Roles

The company has a clear separation of roles between the chairman of the board and the CEO. This separation
aims to prevent excessive concentration of power and enhance accountability.

3. Ethical Business Practices

Infosys places a high emphasis on ethical conduct and integrity in its business operations. The company's

Code of Conduct outlines the principles and values that employees are expected to uphold.

4. Risk Management

Infosys has a strong focus on risk management. The company identifies, assesses, and mitigates various risks
that could impact its operations, reputation, and financial performance.

5. Transparency Disclosure

Infosys is committed to transparent reporting and timely disclosure of relevant information to its shareholders,
investors, and stakeholders. This includes financial reports, annual reports, and disclosures about any material
events.

6. Whistleblower Policy

The company has established a mechanism for employees to raise concerns about unethical behavior,
misconduct, or violations of company policies. This policy is designed to encourage a culture of transparency
and accountability.

7. Shareholder Engagement

Infosys engages with its shareholders through regular communication, including annual general meetings
(AGMs), to provide updates on the company's performance, strategy, and plans.

8. Nomination & Remuneration Committee

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Infosys has a committee responsible for evaluating and recommending the selection of board members and
executive leadership positions. The committee also ensures that executive remuneration is aligned with the
company's performance and industry standards.

9. Sustainability Initiatives

Infosys has incorporated environmental, social, and governance (ESG) factors into its corporate strategy. The
company focuses on sustainable practices, environmental conservation, and social responsibility.

10. Cybersecurity & Data Privacy

As a technology company, Infosys places a strong emphasis on cybersecurity and data protection. The
company works to ensure the confidentiality and security of its clients' and stakeholders' data.

Board composition

At the core of our corporate governance practice is the Infosys Board, which oversees how the management
serves and protects the long-term interests of all our stakeholders. The majority of the board, seven out of 10,
is independent members. As active and well-informed members of the board, they are fully committed to
ensuring the highest standards of corporate governance.

In addition, the independent directors make up the audit, compensation, investor grievance, nominations, and
risk management committees, bringing their valuable perspectives to the board. As a part of our commitment
to follow global best practices, we comply with the Euro shareholders Corporate Governance Guidelines 2000,
and the recommendations of the Conference Board Commission on Public Trusts and Private Enterprises in
the US. We also adhere to the UN Global Compact Program.

Board Independence and Lead Independent Director

The Board of Infosys is composed of a majority of directors who meet the criteria for independence
established by the Indian Companies Act, Listing Regulations, and the listing standards of the New York
Stock Exchange (NYSE). The Infosys Board also has a Lead Independent Director who serves as a liaison
between the non- executive directors of Infosys and management and performs such additional duties as
the Board may determine

Please note that corporate governance practices can evolve, and it's important to refer to the latest company
disclosures and reports for the most up-to-date information on Infosys' corporate governance framework and
practices.

Environmental, Social, and Governance (ESG)

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Infosys has balanced success as a business with an unwavering focus on exemplary governance and
responsiveness to the needs of the ecology and society. As an early proponent of responsible business,
Infosys has readily embraced its obligation to integrate ESG factors into what it does, which is only
increasing in importance, particularly in the wake of COVID-19.

For instance, in early 2008, Infosys began to take action to combat climate change and have now announced
Infosys’ carbon neutrality achievement for 2020. Today, Infosys’s 2030 vision reflects how ESG will continue
to be integral to Infosys’ sustainable business performance. Infosys has the highest rating in Environmental,
Social, and Governance (ESG) rated by CRISIL’s ESGauge in 2021.

Consideration of Stakeholders & Transparency

The Board of Infosys always considers the impact of various actions and decisions on the company’s
customers, employees, suppliers, government/administration, and statutory authorities and discloses all direct
or indirect material matters affecting the stakeholders. This in turn brings transparency for various
Stakeholders of Infosys.

Risk Management

The Infosys Board is responsible for overseeing management’s efforts to assess and manage material risks
and for reviewing options for risk mitigation. The Board also reserves oversight of the major risks of the
Company and may delegate risk oversight responsibility to committees of the Board. The Risk Management
Committee of Infosys assists the Board in fulfilling its corporate governance oversight responsibilities
regarding the identification, evaluation, and mitigation of strategic, operational, and external environmental
risks and also approving the enterprise risk management framework and associated practices of the Company.

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