Explain in brief: (ii) Four fold duties of a king as suggested by Kautilya in Arthshastra.

Kautilya's fourfold duty of a king- The substitution of the state with the corporation, the king with the CEO or the board of a corporation, and the subjects with the shareholders, bring out the quintessence of corporate governance, because central to the concept of corporate governance is the belief that public good should be ahead of private good and that the corporation's resources cannot be used for personal benefit. According to Kautilya, the duties of the king are: Raksha - literally means protection, in the corporate scenario it can be equated with the risk management aspect. Vriddhi - literally means growth, in the present day context can be equated to stakeholder value enhancement. Palana - literally means maintenance/compliance, in the present day context it can be equated to compliance to the law in letter and spirit. Yogakshema - literally means well-being and in Kautilya's Arthashastra it is used in context of a social security system. In the present day context it can be equated to corporate social responsibility.