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Better policing of governance
- Rajesh Chhabara, 9 March 2009
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EthicsWatch:
Analysis: Satyam fraud raises integrity concerns in India
The billion-dollar fraud at Satyam should sound a warning bell for Indian companies to reassess their approach to corporate responsibility
Until this year, Satyam had enjoyed a reputation as a leader in corporate responsibility among Indian companies. Its now disgraced chairman and founder, B Ramalinga Raju, used to head the corporate responsibility committee of the Confederation of Indian Industries, India’s business lobby group. The committee mainly encouraged members to pursue community development programmes.
Raju also established the Satyam Foundation, which the company describes as its “corporate social responsibility arm”. Its philanthropy helped Satyam win several domestic corporate responsibility awards.
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Comments:
Credibility - Brian Butterly, 9 Mar 2009
Satyam, Wipro and other Indian companies can only regain trust when they have a non-Indian director of Corporate Governance to overcome inherent traits. Before that occurs a conmpany would be ill advised to outsource any work.
Corporate Social Responsibility - Gayathri Prasanna Kumar Wundavalli, 11 Apr 2009
If not for cutting costs, why is business going transnational for production and handling of its communication needs. If the business is cutting the costs by being flexible in its strategy, where do we draw a line on responsibility. If it is responsible to the society, which society is it responsible to and which society it is not responsible to? Is it not evading domestic responsibility to its employees that the companies have gone abroad. Is it not for greater domestic environmental responsibility that there is a glaring import of drugs and medicines from countries where the environmental laws anyway cannot be implemented as also other laws.
Dual standards don't work in the long run.
In environmental performance this distinction is glaringly present. That is what is of interest to people like me. You go to Indian carpet manufacturer, you go to indian bulk drug manufacturer, you go to Indian company to outsource your business functions.
And you want them to be responsible to whom?
Is it OK or not OK?
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