Thank you for starting this thread. Here are a few of my own views and comments:
- Satyam episode is about failure of a Business Model. The model in question is to use "Shareholder Value as an Engine" of Corporate Growth. Every successive CEO of companies like Worldcom or Enron has used it. Mr. Raju has used it and it has failed him too. Every company who uses this model could have skeletons in the cup boards. Such an admission of guilt will hurt those whom the companies were pretending to serve. "Is the model serving the interests of shareholders?" is the moot question.
- What are Stock Markets then? Do Stock Markets Indices indicate how well the is the economy functioning or how well firms are cooking their books and getting away? Then our preoccupation with Stock Markets- what it is worth! This is also true that Stock Market Indices help firms judge the effectiveness of their corporate communications.
- Last night a television channel showed an old clip of Mr. Raju offering a very convincing explanation of 'Why the name SATYAM?' When a person gets into spreading lies who helps him? Can a lone person invent and communicate all those lies that are needed? Could the PR function have helped the Raju Bandwagon into the act of creating lies and spreading those? If every form of Profession and Vocation is forced to build success either on lies or snatching someone else's resource or opportunity then what can we expect to happen in the country? More episodes like this one and more attacks like that happened in Bombay on 26/11/2008 are sure to follow. After all corruption is contagious and honesty has got grounded and is so weak that it can not circulate on its own.
- Finally, some of you may recall a play written by famous American Writer- Ann Rand. The title is "Night of January 16th". The play depicts a public discussion of frauds committed by a tycoon. It ends in a public participation where the director's plants encourage public to believe that after all tycoon did what everyone does.
Navendu
On 1/8/09, philip1957272 <philip1957@gmail.com > wrote:
dear all
Arrests have to be made very soon.The system should act immediately
which will send out strong signals to the world.If we are lethargic
and do not act, India's trust will be eroded.The Big picture should
come out and other accomplices names should come out.Why has this
happened? Who forced Raju to take it lying down? What were the
pressures? Is it pure greed or something beyond that? Are some
international forces involved.
Philip Joshua
--- In prpoint@yahoogroups.com , "xavier prabhu" <xavier@...> wrote:
dear all,
to add, it is common knowledge that most companies cook their books to an
extent simply to keep up with pressures of the market. and the markets
sometime put unrealistic pressure on the companies not realizing that ups
and downs are part of any business, even good business.
this fueled by the attitude of making quick money is quite pervasive in the
system and PR/corp/ comm. profesionals are support or mere bystanders to
this whole episode.
this is a well spread rot in our system from newcomers with no experence or
knowledge do everything to get better pay packets to executives cooking
books to get better returns for themselves.
can we somehow step back and ponder? is this approach leading us anywhere?
Satyam going down is not good for IT, India, moreso in this environment. it
will destroy more investor wealth, careers and such devastation is not good.
can we take the long hard route to success and not the short cut and instill
this across?
xavier
On Wed, Jan 7, 2009 at 6:16 PM, xavier prabhu <xavier@...> wrote:> On Wed, Jan 7, 2009 at 2:55 PM, BNK <mailbnk@...> wrote:
> Dear all,
>
> again, beg to differ from many points of view and outrage in this e-mail
> group.
>
> we are merely reacting and saying PR/corp. comm is the solution or have a
> role is not understanding really how large companies work. when a company
> can take regulators for ride what use and power have PR/corp.comm people who
> need to protect their salaries and retainers.
>
> regulation may not be the answer as regulators are not gods and are prone
> to influences. US has Sarbans-Oxley and still see what happened all around.
> we need to go deeper and hate to see this as a personal or one person issue.
>
> in all this, I am increasingly questioning the media which seems to be
> absolutely unaccountable and profiting either ways. they write about these
> guys in glowing terms, send their stocks soaring and one fine day all hell
> breaks loose and there are negative stories galore. even the most reputed
> global media outlets could not for years smell or even figure out something
> as simple and visible as mortgage issue which is the fountainhead of this
> global recession.
>
> the question of personal ethics and integrity will come to haunt all of us
> more and more as the depravation in this area across private, media,
> government and NGO reaches levels that are unbearable. like we all became
> conscious after 26/11, it is time we delve deeper and ask even serious
> questions of ourselves.
>
> we all invested in stock markets hoping for mammoth returns forcing people
> to just play ball and ride the wave and look st the mess we have created.
>
> this is not the time to do witch hunting, this is the time to strengthen
> the system and focus on better values inculcation. Greed cannot be stopped
> by any system or mechanism unless the individual stops or the greed consumes
> them.
>
> regards,
>
> xavier
>
>
>
>> It's major issue concerning corporate governance. Communication
>> professionals should ensure that the principles are adhered to and
>> educate/caution their managements teams on this. Like we do media DO's and
>> Don'ts, we must prepare a list for corporate governance with the help of
>> Independent directors. Most problems occur when corporates do not involve
>> independent directors who are reduced to just figureheads and attend Board
>> meetings only as a formality.
>> Corpcom teams must also insist on transparency. Keep doing periodical
>> workshops and invite experts like N Vithal, Narayana Murthy, Dr Kalam and so
>> on to speak to coporate groups. These kind of activities/knowledge forums >> 2009/1/7 Narendran A <naren_vna@..
>> can also be done at FICCI, CII, PRCI as well
>> Regards
>> bnk
>>
>>.>
>>
>>> Friends
>>>
>>> I am sure all of us would be tracking the news of Ramalinga raju
>>> resigning from the post of Chairman of Satyam Computers and admitting
>>> profits being inflated and so on.. the letter of his resignation are there
>>> in the news websites..Satyams share price has come down by 34%..
>>>
>>> Its interesting to study from communications point of view. Can stalwarts
>>> in the group educate us on the following:
>>>
>>> a) How should an issue like this be handled? as we are talking about one
>>> of India's top executive
>>> b) What impact will it have on the image of the company/employees?
>>> c) What caution should be adopted while delaing with sensitive issues?
>>> d) IS there any chance for the company to use this as an opportunity to
>>> build its image(positive)?
>>>
>>> Also read this article
>>>
>>> http://www.livemint.com/2008/ 12/18221653/ What-should- Satyam-and- Raju-do.html
>>>
>>> Best regards
>>> Narren
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