The big question mark after the tag line of Satyam questions the integrity of corporate world in a big way.
Its not only one about a rotten fish but whole pond is effected by it.
The confidence of the stake holders is shattered throughout the market.
The role of corporate governance is once again in the question and once again a giant falls through taking a lot of others with it.
- Stakeholders are the biggest losers with both monetary and non-monetary losses.
- It industry which seems to be the backbone of boom has got its 1st big scam and witnessed what every other market around the world had some or the other time.
- Market as a whole which seems to be responding to Govt. and RBI actions falls drastically and its further effect is to be looked upon.
- India as whole known for its IT and Outsourcing got effected while companies like Infosys sets benchmark we have loosen on the other edges.
- For the world its one more case to get analyzed and one more lesson to be learned for all of us.
So what actually business demand profit,economic value addition,or good corporate governance.
Satyam meaning truth but full of lies become one of the greatest paradox of corporate world.
For letter written by B. Ramalinga Raju to BOD visit http://selectedarticles-shishir.blogspot.com/2009/01/b-ramalinga-raju-letter-to-board.html
bussiness demands profit, but not at the coost of ethics, earlier most of bussinesses were done on a very low percentage except retailing, but today everybody wants to earn in a big way withing no time, so the first thing is we need a lesson in morality.
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