NMIMS Global Access

School for Continuing Education (NGA-SCE)

Internal Assignment Applicable for December 2023 Examination

Subject: Business Ethics, Governance & Risk

Ans 1.

Introduction:

Our relationship with water as a resource refers to how we manage and use water in our operations,
and the risks, opportunities and financial implications associated with water-related issues. To
understand this, please review the provided information, including Corporate Responsibility and
Sustainability Reports (BRSRs), Chairman and/or CEO Letters, Business Strategy, Risk Management,
ESG Performance, Corporate Websites, and Sustainability Reports.
Concepts and Application:

Water-related Risks: Water-related risks can include scarcity, pollution, regulatory compliance, and
reputational damage. By examining the sources mentioned, we can identify the specific risks faced
by the company. Look for information on water scarcity in the regions where the company operates,
any instances of water pollution caused by its activities, and any legal or regulatory requirements
related to water management.

Water-related Opportunities: Water-related opportunities can arise from efficient water

management practices, innovation, and sustainable solutions. Look for information on the
company's initiatives to reduce water consumption, improve water efficiency, and develop
technologies or products that contribute to water conservation or purification. Additionally, consider
any partnerships or collaborations the company has established to address water-related challenges.

Financial Implications: Water-related issues can have financial implications for the company. These
may include costs associated with water sourcing, treatment, and disposal, as well as potential fines
or penalties for non-compliance with water regulations. Look for information on the company's
financial performance in relation to water management, such as investments in water-saving
technologies or the impact of water-related risks on its profitability.

Water Management Overview:

1. Business Overview: VA Tech Wabag is a leading manufacturing company listed in the top 150
companies by revenue on BSE/NSE. The company operates in the chemical sector and
manufactures a variety of products for industries such as agriculture, pharmaceuticals, and
consumer goods.

2. Section C, Principle 6 (in BRSR): In its Corporate Responsibility and Sustainability Report
(BRSR), VA Tech Wabag highlights Principle 6, which focuses on water management. This
report describes the company's commitment to responsible water use, including setting
specific goals for improving water efficiency.

3. Letter from the Chairman and/or CEO: The annual report letter from the Chairman
highlights VA Tech Wabag's commitment to sustainability. This highlights the importance of
incorporating water conservation and environmental responsibility into the company's core
values.
 4. Business Strategy: VA Tech Wabag's 2022-23 business strategy includes a focus on
sustainable practices. The company's goal is to implement water-efficient technologies in its
manufacturing facilities and supply chain. The strategy focuses on reducing water
consumption per unit of production by 15% over the next three years.

5. Risk Management: The 'Risk Management' section of the annual report identifies water
scarcity as a potential risk due to the geographical location of some of our production sites.
To alleviate this, VA Tech Wabag is investing in advanced water recycling systems and
alternative water sources to ensure a stable water supply.

6. ESG Performance: The ESG Performance section provides quantitative data on water-related
indicators. VA Tech Wabag reduced its water usage by 10% compared to the previous year,
exceeding its annual goal. The report also discloses a water risk assessment, including the
company's efforts to engage with local communities and stakeholders on water-related
issues.

7. Corporate Website (ESG/Sustainability): VA Tech Wabag's website has a dedicated

ESG/Sustainability page that highlights the company's water management efforts. It provides
interactive graphs that display water usage trends and highlight local projects that address
water access and sanitation.

8. Sustainability/Integrated Report: The Sustainability Report describes VA Tech Wabag's

holistic approach to sustainability and supports the United Nations Sustainable Development
Goal 6 (Clean Water and Sanitation). It highlights the company's contribution to This report
includes examples of successful water conservation projects in communities near
manufacturing sites.

Business Approach to Water-related Issues

To understand how the company manages its water-related issues and initiatives as part of its
overall business strategy, analyze the provided sources. Look for information on the company's
water management policies, goals, and targets. Consider any water-related initiatives or projects
mentioned, such as water conservation programs, wastewater treatment facilities, or community
engagement activities related to water.

Minimizing Negative Impact on Environment and Local Communities

To minimize its negative impact on the environment and local communities, the company should
have measures in place to reduce water consumption, improve water efficiency, and mitigate water
pollution. Look for information on the company's efforts to implement sustainable water
management practices, such as recycling or reusing water, implementing water-saving technologies,
or engaging with stakeholders to address water-related concerns.

Conclusion

VA Tech Wabag's approach to water management includes a proactive attitude to reduce risks,
capitalize on opportunities, and make positive contributions to the environment and
communities.
By setting quantitative targets, investing in water-efficient technologies, and proactively engaging
with stakeholders, the company aligns water-related initiatives with broader business strategy
and ultimately minimizes negative impacts and create value for the company and society.

VA Tech Wabag's comprehensive approach to water management includes not only improved
operational efficiency, but also active community engagement and risk mitigation strategies.

By setting clear goals, disclosing key performance indicators, and incorporating sustainability into
its business strategy, VA Tech Wabag is committed to minimizing negative environmental impacts
and contributing positively to the local community.

Ans 2.
Introduction

Cloudboson Pvt Ltd is committed to fostering a work culture characterized by integrity, ethical
behavior, and a strong sense of responsibility.

This overview summarizes the key points of our Code of Conduct and Information Security Policy,
demonstrating the startup's commitment to maintaining high ethical standards and ensuring the
security of confidential information.
Concepts and Application:
Here is the Executive company for the same:

1. Overview and Purpose: The Code of Conduct lays the foundation for ethical behavior,
integrity, and compliance within a start-up company.

2. Compliance and Legal Obligations: The startup is committed to full compliance with all
applicable laws, regulations, and industry standards, with a focus on legal and ethical
business practices.

3. Workplace Conduct: This Code promotes a positive workplace culture and emphasizes the
importance of respectful communication, diversity, and a harassment-free environment.

4. Conflicts of Interest: Guidelines for identifying, disclosing, and managing conflicts of interest
have been established to ensure transparent decision-making.

5. Confidentiality and Data Security: Policies protect sensitive information, ensure data
protection, and ensure robust cybersecurity measures to protect company and customer
data.

6. Fair Competition and Anti-Bribery: Startup is committed to fair competition and the fight
against bribery and corruption, and promotes integrity in all business relationships.

7. Reporting Mechanisms: Describes transparent reporting channels for ethical concerns and
violations, with a focus on whistleblower protection to promote accountability.

8. Consequences of Violations: Emphasizes the importance of compliance with ethical

standards and responsibility, and the consequences of violations of the Code are made clear.
 9. Training and Awareness: An ongoing training program is in place to educate employees
about the Code of Conduct and ensure awareness and understanding throughout the
organization.

10. Continuous Improvement: The Startup is committed to regularly reviewing and updating its
Code of Conduct to adapt to changes in laws, regulations, and organizational requirements.

Information Security Policy:

1. Data Classification and Processing: The policy defines how data is classified based on
sensitivity and describes secure processing and storage procedures.

2. Access Control and Authentication: User access, authentication, and authorization policies
are established to ensure secure data access and prevent unauthorized use.

3. Incident Response and Reporting: Procedures are in place for responding to and reporting
information security incidents, with a focus on timely resolution and continuous
improvement.

4. Network Security: Standards are established to protect startup network infrastructure,

protect against unauthorized access and cyber threats, and prevent data breaches.

5. Employee Training and Awareness: Ongoing training programs educate employees on

information security best practices, reduce the risk of data breaches, and increase overall
cybersecurity awareness.

Observations and Insights:

1. Ethical Culture: Both codes of conduct and information security policies help promote an
ethical culture within a startup company and emphasize integrity and responsible behaviour

2. Risk Mitigation: Together, these guidelines address potential risks related to ethical
violations, legal violations, and information security threats, thereby promoting a safe and
trustworthy business environment.

3. Employee Trust: This policy creates and maintains employee trust by reinforcing the
startup's commitment to ethical and safe business practices, thereby contributing to a
positive work culture. Alignment with organizational goals: Codes of conduct and
information security policies are aligned with the organization's broader values and goals
and contribute to the startup's overall success, reputation, and sustainability.

Conclusion

In summary, these guidelines aim to provide a foundation for responsible business conduct,
reduce risk and build a culture of integrity, responsibility, and safety within your company.

These are critical building blocks for forming a company's identity, strengthening employee trust
and ensuring long-term success.

Together, these policies aim to provide the foundation for responsible business operations,
reduce risk and build a culture of integrity, responsibility and safety within the company.
These are critical building blocks for forming a company's identity, strengthening employee trust
and ensuring long-term success.

Ans 3(a).

Pollution is considered an ethical responsibility of the consumer. The reasons supporting this view
are as follows.

1. Health and Wellness: Consumer decisions can directly impact the health of individuals and
the public. Ethical responsibility means making decisions that contribute to a healthier
environment and reduce the prevalence of respiratory diseases and other health problems
associated with environmental pollution.

2. Sustainable consumption: Consumers have the power to influence demand and supply
chains. By choosing products and services from environmentally friendly companies,
consumers promote sustainable practices and discourage polluting industries.

3. Resource Conservation: Ethical consumption involves considering the impact of resource

extraction and consumption on the environment. By choosing products manufactured
using sustainable processes and materials, consumers contribute to conserving resources
and reducing environmental pollution.

4. Green Technology Support: Consumers can increase demand for green and sustainable
technologies. By choosing products that emphasize clean and environmentally friendly
technology, consumers contribute to the growth of a less polluting and more sustainable
industry.

5. Informed Purchasing Decisions: Ethical consumers make informed decisions by considering

the entire lifecycle of a product, including production, use, and disposal. This holistic
approach helps minimize environmental impact and therefore product-related pollution.

6. Support for Change: Consumer decisions can influence corporate behaviour. Consumer
ethical responsibility means supporting companies that prioritize environmental protection
and holding accountable companies that engage in practices that contribute to
environmental pollution. This will encourage companies to adopt more sustainable
practices.

7. Global Perspective: Pollution often crosses national borders and has global effects.
Consumers' ethical responsibilities extend beyond their personal well-being to a universal
responsibility to preserve the environment for future generations.

8. Promoting a circular economy: Ethical consumers support the idea of a circular economy,
where products are designed to last, be reused, and recycled. This reduces the overall
impact on the environment and helps minimize pollution.

In summary, ethical consumer responsibility means making choices that take into account the
wider environmental and social impact. By prioritizing sustainable and environmentally friendly
 products and services, consumers can play a key role in combating pollution and promoting
more sustainable and ethical approaches to consumption.

Ans 3(b).
Reducing pollution poses ethical challenges for companies that must balance economic growth,
social development, and environmental responsibility.

Two ethical dilemmas that companies face in their efforts to reduce pollution are:

 Cost-benefit analysis:
1. Dilemma: Businesses can face difficult ethical dilemmas when considering the costs
and benefits of evaluating the implementation of measures to reduce environmental
pollution. It happens often. Even if it is ethical to reduce pollution, the associated
costs, such as investing in cleaner technologies or changing production processes,
can be significant.
2. Challenge: Balancing a company's economic viability with its ethical obligation to
minimize its environmental impact is a complex challenge. Companies may be under
pressure to prioritize short-term financial gains over long-term sustainability,
especially if the costs of pollution reduction measures are perceived to be high.
3. Resolution: Ethical companies take a long-term view, considering not only the
immediate financial costs but also the potential benefits in terms of brand
reputation, stakeholder trust, and overall sustainability. Introducing environmentally
friendly practices can lead to cost savings in the long run and align with broader
corporate social responsibility goals.
 Supply Chain Management:
1. Dilemma: Companies often source raw materials and components from suppliers,
and the entire supply chain can contribute to environmental pollution. Ethical
dilemmas arise when companies must decide how responsible they are for the
environmental practices of their suppliers.
2. Challenges: companies may face challenges in ensuring that their supply chain
partners adhere to ethical and environmentally sustainable practices. However, this
is not always directly controllable, especially when it comes to global supply chains
with diverse environmental regulations.
3. Resolution: Ethical companies actively work with their suppliers to promote
sustainable practices and may end relationships with suppliers who are reluctant to
comply with environmental standards. Implementing comprehensive supply chain
sustainability programs, conducting audits, and working with suppliers to improve
their environmental practices are ways to address this ethical dilemma.

In both dilemmas, the challenge is to find a balance between economic benefits and environmental
responsibility. Ethical companies recognize that long-term success is tied to sustainable business
practices, and are committed to both financial goals and the broader society of reducing pollution
for the benefit of current and future generations.