It's best to bring bad news to the investors early on a pro-active basis. Let the good news take the steps and bad news the elevator. Investors will respect those organisations that disclose their mistakes and resolve to improve themselves, said N.R. Narayana Murthy, Chief Mentor of Infosys Technologies Ltd, on Tuesday.
Delivering the convocation address at Great Lakes Institute of Management, Chennai, he said, “A company has to be fair to all its stakeholders. I do not know of a single corporation that has short changed any stakeholder and survived in the long term. Such focus on shareholder requires that we follow the highest degree of transparency and the best principles of corporate governance.”
He also said that companies should concentrate on simple business rules as they were easy to understand, easy to follow and easy to communicate. Above all, one cannot cheat people with simple rules. To attract and retain best talent, he asked business leaders to respect their employees, create an environment of fast learning for them to compete in a knowledge economy, base each and every decision on merit, fairness and transparency, provide them with challenging work, create good career prospects for them and invest in world-class infrastructure to enhance their performance.
Mr. Murthy advised the future business leaders to win trust and confidence of the government of the land by paying taxes.
Andrew T. Simkin, U.S. Consul-General in Chennai, said educational institutions in the United States and India were keen on establishing new partnership in the field of education through strategic dialogues.
Great Lakes Institute of Management founder and honorary Dean Bala V. Balachandran said that they would offer week-end Post Graduate Working Professional Program in Management to working professionals at their Saidapet campus from August.
Besides, they would offer two-year Global Executive Management in Business Administration (GEMBA) in energy management jointly with Bauer College of Business from the University of Houston for the benefit of senior executives of the energy sector from Central Asia, India and South East Asia.
The course will commence on August 15.