Ethics in management important, students need to be conscious of growing inequality, says N. Ravi
While according primacy to shareholder value, management professionals should keep in mind the other stakeholders – employees, customers, supplies, and the wider community – to
While according primacy to shareholder value, management professionals should keep in mind the other stakeholders – employees, customers, supplies, and the wider community – to ensure prosperity in the long run, N. Ravi, Director, The Hindu Group Publishing Private Limited, said on Saturday. Addressing students at the 17th Graduation Day of MEASI Institute of Management, Mr. Ravi said “showing compassion to employees and not a hire-and-fire policy” was important, so too were customer satisfaction and honest. While on a consequentialist reason, honesty helps investments prosper, in the long run ethical functioning should become a categorical principle, he added.
Management professionals should be conscious of the growing inequality within companies and in the wider world. “The winner-take-it-all culture, where CEOs and top managers are paid huge salaries and bonuses while the general rung of employees are paid nominal salaries, may lead to resentment within companies,” he observed. Quoting the French Economist Thomas Picketty, he said return from financial investments were higher than returns from other productive areas generally leading to a widening of inequalities between people with large capital investments and others without capital. He put forth four pointers for the outgoing students – lifelong learning, especially on law and policy, applying ethics in management, being conscious of the growing inequalities, and attachment to the alma mater.
He reminded the students of their duty as citizens to take financial literacy and good and safe internet practices to people at large, especially in the days of rampant online financial frauds and scams. T.A.M. Hameed Kan, Director, MEASI Institute of Management, said the students of the institute have picked up gold medals from University of Madras for the third consecutive year. Over 90% of students belonging to the outgoing batches have found placements in different companies already. The institute, he said, has also received an NBA accreditation this year for three years. Imthiaz Pasha, president, Muslim Educational Association of Southern India (MEASI), said that this year, all the management seats at the institute have been filled already and about 74% of the seats allotted through counselling have already been taken.
As many as 180 students belonging to two batches – 2022-24 and 2023-25 – received their degrees. M. Nazar Mohamed, Honorary Secretary, MEASI, Farhath Khan, CEO, MIM, and Zaffarullah Khan, Convener, MIM, were also present.
The BriefWire