The excellence in terms of customer satisfaction, in terms of return, in terms of product and
service, in terms of return to promoters and in terms of social responsibilities towards society
and people cannot be achieved without practicing good corporate governance. In the age of
competitive Globalization and dynamic world, business enterprises need to focus on innovative
practices which will help in maximizing stake and shareholders wealth. The fundamental
concern of corporate governance is to ensure that the firm's directors and mangers act ethically
in the interests of the firm and its shareholders and that the mangers are held accountable to
capital providers for the use of assets. The concept of corporate governance can be taken as
a parallel to the quality practices under the ISO standard.