Confessions of a Chairman/CEO

Confessions of a Chairman/CEO

What Business Demands:Fraud,Scam,Scandal

The title seems to be shocking and a shame on what we call as business. Before going into the details let me ask a serious question Is this what business demands ????Being Unethical, fraud, breach of confidence .

Probably first time in the history of corporate world a founder Chairman/CEO has confessed publicly about his involvement in a crime of highest degree,so publicly that other Chairman/CEO's may have not even dreamt in thier widest of their dreams. Chairman/CEO's are considered to be one of the most reserved community in the world, it can be said that they belong to a secret sect who hold some of the world's darkest secrets. Even the Indian CEO's want to prove a point that they are not inferior to their US counterparts. When Satyam Computer Services Limited Chairman B.Ramalinga Raju on 07-Jan-09 at about 10:59AM submitted a resignation letter to the board, which with in minutes sent jitters across the world corporate fraternity. The lettter was not a simple resignation letter instead it contained something none would have thought of. The letter talked about one of the most shocking revelations in the Indian corporate history.

A person who started the company with 3 computers in 1987 grew to an organisation with a global clientale of 654 companies with a market capitalization share of around $2 Billion Dollars and has been rated as one of the best oursourcing companies in the world. The current fraud does not end here it has given whole world to have a second option about the Indian Corporate diaspora and who knows how many companies are following the foot steps of what this organisation has laid. There is no doubt to say that this is just a tip of an iceberg. This reminds me of a situation where blind people are trying to sense a white elephant which is really non existing.

In this current great global depression companies in the name of survival are resorting to an extent to adopt unethical practices to weather this current situation . We should not blame politicians when well educated people retort to these kind of scams and fraud. These so called white collared CEO's who define the rules of business,retort to these frauds .

Finally, at the end of the day the whole fiasco shatterd the trust and confidence of employees and investors. Corporates are the face of developing India if they resort to these kind of crimes then really we have to think about India being so called as a global knowledge hub and outsoucing IT power house.


Anil Deshpande,
08-01-09,
Hyderabad.
12:15 AM