Can a business be run without resorting to corrupt practices? This was one of the several questions attempted to be answered by management experts at a recent seminar organized by Sri Aurobindo Center for Advanced Research at Pondicherry (SACAR) at Pondicherry in India.At every step, a business faces a choice – whether to indulge in corrupt practices to get what is its legitimate due, or face hardships and bottlenecks in meeting its obligations towards such stakeholders as its suppliers and employees.There are no simple answers to this vexed issue. However, there could be innovative ways of handling such challenges. A strong anti-corruption image helps. The conviction, that this is just not done, takes time to radiate to those who place such a demand on the business.
Another way to face such a challenge is to politely decline meeting an illegal demand. Instead, an offer to fund a legitimate activity which falls in the realm of CSR and shores up the image of the official/department concerned could get readily accepted. This could be by way of toilets being set up in schools, trees being planted and maintained on a main thoroughfare, or by investing in a scheme of social benefit.
The conviction emanates from an inner strength and a resolve to ensure that the dealings of the corporate concerned remain above board. Once adopted and marketed as a strategic choice, the business gains in the long-term – by adding value to its own brand equity and by gaining public trust. In turn, this could be leveraged to command better margins in the market place and also to attract better talent at a lesser cost.According to a business captain who addressed the participants at the seminar, the core mantra is to not to readily give in to illegitimate demands and to do simply what is in one’s control. The path of righteousness is not easy to tread but can be adhered to successfully if the top management has the necessary conviction. Decision making based on good values and an inner connection always helps a business person to strike this delicate balance in its operations.
Speakers at the seminar also touched upon VUCA and the increasing rate of change in the business environment. Studies which have proved that businesses which adhere to the basic values of honour, truth, beauty, justice and love were quoted do better in the long run. Participants were exposed to leadership lessons drawn from such Indian scriptures as Ramayana, Mahabharata, Thirukkural and also from Sri Aurobindo’s works.The value of meditation and resultant control of one’s mind was demonstrated. A panel discussion explained the likely changes in the business environment over the next decade and outlined the leadership and management attributes which would become more relevant in the times to come. The emphasis was on leaders who steer their businesses not only directed by an economic compass but also by a moral one.
The seminar, entitled ‘Preparing Future Business Leaders and Managers: An Inner Approach’, drew an enthusiastic response from business managers, scholars and students alike. It was addressed by Dr. Ananda Reddy, Director of SACAR, Mr. R. Mananathan, Chairman and MD, Manatec group of companies, Prof R. P. Raya, Dean, School of Management, Pondicherry University, Dr. Saikat Sen from SAFIM, Prof. Kisholoy Gupta, Mr. J. V. Avadhanulu, Mr. Ganesh Babu and yours truly; a heady mix of management educators, lifestyle coaches, business thinkers and influencers.