 |
Confluence 2005 Opens to Spectacular Response at IIM Ahmedabad
Next, Dr. J. J. Irani (Director, Tata Sons) shared his views on the importance of corporate governance and how it is increasingly being demanded from various quarters. He stressed on the necessity for a triple bottom line instead of merely profit being the sole goal of an organization. Triple bottom line includes not just financial but social and environmental factors, which are of prime importance in today's world.
He felt that presently Management Education in India is not doing enough to inculcate values, ethics and corporate governance as an integral part of its course curriculum. He also praised the efforts by students of IIM-Ahmedabad for taking a step in the right direction by organizing such enriching talks on such a pertinent topic. He was next open to a question-answer session where he laid emphasis on how mindset needs to be changed among students about corporate governance and ethical values so that they can contribute better to not just management world but society as a whole. Next Mr. Suresh Prabhu, Member of Parliament, who was earlier referred to by Mr. Subir Raha as the best power minister India has ever had, addressed the gathered audience on how the word governance itself connotes efficient administration and not just being in power and forming a government. Giving the example of increasing electoral fairness in Bihar, he made a point about how one man alone is sufficient to bring about a huge difference to governance. He gave an interesting insight into how administration and management are intertwined by stressing on the importance of organizational practice of accountability. Indian bureaucracy is crippled by lack of punishment for those who do not deliver. Rewarding those who are successful alone is not sufficient but needs to be matched with a check on those who are not delivering in the government. The key to holding people accountable to tasks assigned is by fixing exact deliverables, which facilitate monitoring and help in weeding out inefficiencies within the government. He felt that good public governance would automatically lead to good corporate governance. Contributed by - |
 |
|
|