The Composition of the Board of Directors of the Bank is governed by the Companies Act, 1956, the

Banking Regulation Act, 1949 and the listing requirements of the Indian Stock Exchanges where
securities issued by the Bank are listed. The Board has strength of 12 Directors as on March 31, 2008.
All Directors other than Mr. Aditya Puri, Mr. Harish Engineer and Mr. Paresh Sukthankar are non-
executive directors. The Bank has five independent directors and seven non-independent directors.
The Board consists of eminent persons with considerable professional expertise and experience in
banking, finance, agriculture, small scale industries and other related fields. None of the Directors on
the Board is a member of more than 10 Committees and Chairman of more than 5 Committees across
all the companies in which he/she is a Director. All the Directors have made necessary disclosures
regarding Committee positions occupied by them in other companies. Mr. Jagdish Capoor, Mr. Keki
Mistry, Mrs. Renu Karnad, Mr. Vineet Jain, Mr. Aditya Puri, Mr. Harish Engineer and Mr. Paresh
Sukthankar are non-independent Directors on the Board. Mr. Arvind Pande, Mr. Ashim Samanta, Mr.
Gautam Divan, Mr. C. M. Vasudev and Dr. Pandit Palande are independent directors on the Board. Mr.
Keki Mistry and Mrs. Renu Karnad represent HDFC Limited on the Board of the Bank. Mr. Vineet Jain
represents Bennett, Coleman Group on the Board of the Bank. The Bank has not entered into any
materially significant transactions during the year, which could have a potential conflict of interest
between the Bank and its promoters, directors, management and/or their relatives, etc. other than the
transactions entered into in the normal course of business. The Senior Management have made
disclosures to the Board confirming that there are no material, financial and/or commercial
transactions between them and the Bank which could have potential conflict of interest with the Bank
at large. 
BOARD OF DIRECTORS
Mr. Jagdish Capoor Mr. Aditya Puri Mr. Keki M. Mistry Mr. Vineet Jain Mrs. Renu Karnad Mr. Arvind
Pande Mr. Ashim Samanta Mr. C M Vasudev Mr. Gautam Divan Dr. Pandit Palande Mr. Paresh
Sukthankar

The current chairman is Deepak Parekh. 

Motivational Techniques
Motivational Techniques
Motivation, everyone who has a desire to succeed in life and in business usually has some form of it. Motivation
represents those psychological processes that cause the arousal, direction, and persistence of voluntary actions that
are goal directed (Kreitner & Kinicki, 2008, p. 210). But one must ask, what makes a company successful? Is it the
products they make? Is it the marketing they use? Or is it the people that work for the organization that makes them
successful? After reviewing several Fortune 500 companies I have chosen three to discuss. I discovered what makes
them tick, and the motivational techniques they use to keep their companies running strong. The three companies
being highlighted are Merck & Co., Inc., Starbucks, and Google.
We will begin with Merck. Merck is known worldwide as one of the largest pharmaceutical companies in the world,
and ranks 99th on the Fortune 500. It was established in 1891 as the United States

Is this Essay helpful? Join OPPapers to read more and access more

than 200,000 just like it!
GET BETTER GRADES
subsidiary of the German company Merck KGaA. It is currently one of the seven largest pharmaceutical companies in
the world both by capital and revenue (Merck & Co., Inc, 2008, p. 1). Like many pharmaceutical companies in the
U.S., the sales force at Merck follows the pay for performance model. Pay for performance is the popular term for
monetary incentives linking at least a portion of the paycheck directly to results or accomplishments. Many refer to it
simply as incentive pay while others call it variable pay (Kreitner & Kinicki, 2008, p. 259). The pharmaceutical sales
representatives at Merck call it motivation. Pharmaceutical sales is a very addictive field due to this pay for
performance model. So, why is this job so addictive? Perhaps because the excessive profit margins of many brand-
name pharmaceutical products can mean enormous commissions (Princeton Review, 2006, p. 1). Merck’s mission
statement and culture lies heavily on both intrinsic and extrinsic motivation.