‘ENGINES OF NATIONAL TRANSFORMATION’
| THE HINDU | FRIDAY, AUGUST 17, 2001 |
‘ENGINES OF NATIONAL TRANSFORMATION’
BANGALORE, AUG. 16. Globally, corporate organization s are being asked to be more accountable, practice self-policing, and make financial transactions transparent and constitutional. They are expected to be partners in the economic and social transformation of nations.
Corporate directors then, must embrace radical thinking, aggressive competition and good corporate governance, says Dr. Madhav Mehra, Chairman, World Quality Council.
He was speaking to corporate leaders here recently about his favourite idea- the need to revolutionize the role of corporate directors to make Indian corporate “engines of national transformation rather than mere economic “
“ A corporate director has civic responsibility of the people who accept this responsibility, as it conscientiously and well, deserve our respect as they are serving a nation. But their role are mere advisers, are pliable and pleasant, but do not insist on a real monitor’s role, do small service to anyone and deserve little respect, “ is what Chancellor William T Allen, Corporation Jurist form the US says.
The views are as valid for corporate directors in India, says Dr. Mehra. He admits he does not have all the answers. His persuasive skills and the goodwill he has earned through diplomatic perseverance are his strength.
The right thing
Corporations are now being asked to do more than maintain bottomline profits. Indeed with “public –private partnerships” being the latest mantra of cash starved governments, businesses are expected to play a role in social transformation of the country.
This being the case, such business leaders who dare to do the right thing, must be encouraged, Dr. Mehra Says: “If we tell people that it is all right to make mistakes, they to will come up with ways of tackling those mistakes. If Thomas Alva Edison has been forced to give up after his initial failures to create the electric bulb, the ultimate phenomenal success would never have seen the light of day,” he says.
Accepting failure as part of the game means that people will not hesitate to innovate. In an economy where innovation is the difference between life and death for a company, does it not make sense that those who innovate should be encouraged? The present culture of punishing failure only encourages people to hide their mistakes and play the blame game
Priorities
Coming back to Chancellor Allen’s comment, the director he respects will be able to strike just the right balance. This ability can be taught and enhanced, says Dr. Mehra. It requires perseverance. Consider one of Mahatma Gandhi’s early experiences, when he had to crossquestion a plaintiff witnesss: “I stood up but my heart sank into my boots. I could think of no question to ask. My head was reeling and I thought the whole court was doing likewise.
The judge must have laughed and the lawyers no doubt enjoyed the spectacle. But I was past seeing anything. I told the agent ‘I cannot conduct the case.’
“ But I persevered and I p persevered and I persevered. I can now give a certificate to myself that a thoughtless word has neither entered my tongue nor escaped my pen.”
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