Investors are ready to pay a premium for ethically run companies where values and integrity are imbibed as business culture, according to L. Ganesh, Chairman of the Rane Group, a major auto components manufacturer.
Addressing the 26th convocation of Thiagarajar School of Management (TSM) here on Sunday, he said that only those companies that were built on the bedrock of ethics would be sustainable in the long term.
Technology, he said, would play an active role in the way work was done and many new ones were emerging which would affect the way people and processes interacted. Business leaders of the present have to care for the environment and play an active role in preserving the eco-system.
ADVERTISEMENT
Innovation was the key to success and businesses would have to come up with innovative ways to deliver products, services and solutions.
He told the graduates to focus on ethical governance and respect the Government regulation in letter and spirit.
Today, Mr. Ganesh said as the businesses were linked globally irrespective of their location as the Spain debt crisis affected the European Union, it has resulted in lesser European tourists coming to Meenakshi Sundareswarar Temple.
ADVERTISEMENT
Placements
Earlier, Manikam Ramaswami, Chairman, board of governors, TSM, said that most of the graduates had obtained placement despite many companies putting off expansion plans due to economic recession.
However, the global trade was still growing and this augured well for a country like India which had low costs and was better placed than other countries.
Mr. Ramaswami noted that Thiagarajar School of Management MBA graduates had won all the top five university ranks of the Madurai Kamaraj University. M. Naga Raju, Principal, Thiagarajar School of Management, spoke. A total of 158 students passed out this year with 51 being MCA graduates and the rest being MBA graduates.