There are many good reasons to do an MBA. To gain expertise in creating fictitious assets, prepare slick reports and representations to hoard money from gullible people,(Have you ever seen IPO documents prepared by fund managers?),to network …
There are many good reasons to do an MBA.
To gain expertise in creating fictitious assets, prepare slick reports and representations to hoard money from gullible people,(Have you ever seen IPO documents prepared by fund managers?),to network with corporate crooks, to help convert black money to white money and the list goes on.
Ironically you need an MBA to understand difference between fictitious assets and real assets, identify slickness in reports, to penetrate the network (like the Intelligence dept), to differentiate black and white.
Either which way you have no choice.
Do you know why it is difficult to break the terrorist network?!!!
Check with your professional colleagues if they can come out of their networks and voice their opinion loud?!!!
You can see similarities.
Check this article (source: neovoice.livejournal.com)
Has Professional class started playing second fiddle?
Mr Srinivas Talluri and GopalaKrishnan S (of SATYAM fame) recently admitted that they were cowered by Satyam's management and that it might have unknowingly impacted their ability to see through the financials
and supporting documents presented to them.
Not so long ago the high profile beuracrat class (with distinguished qualifications) were cowered by various elements in the society and the result was legitimazation of so many processes that now we have
come to accept paying Rs 1000 to get a driving a license is no longer a sin or crime.
Is it now the turn of Professional class? We see quite a few number of processes getting legitamized such as overstated account statements certification, investments by reputed firms/banks into dubious entities.
Is this a new trendsetting and going to become a norm?
Are we educating our students well? Let me give you a brief background.
I happened to pursue my Management program at one of the reputed institutes. The institute had this concept called Host Family Network, where in a group of students are assigned to supposedly Distinguished Members of the society. While I got associated with a Professional working class member, my friend's group got associated with a family that happens to be Distinguished family of the location.
(Distinguished here has a different connotation - it is rich). During various discussions while some members of the group were talking about the richness of the family others were discussing how the family amassed wealth using dubious means and how it got legitamized through various associations.
I am not sure if that family still indulges in unethical means to hoard money.
What was the institute trying to teach their students through their associations?
Let us look at Satyam episode. Prof Rama Mohan Rao, Prof. Krishna Palepu
and other distinguished board members through their association with SATYAM have legitamized SATYAM to the outside world. Could they have been more careful enough in their association? Mere mortals like me know about how how Raju is(was) powerful in political circles and got Maytas Infra running in no time? Did not they have an inkling of that there might be something amiss in the whole SATYAM story? I am not suggesting
they might have had some prior knowledge.
I do understand about information asymmetry. If the wise professionals and reputed institutes shield themselves using information asymetry jargon, who are the people that have knowledge and skills to analyze the situations.
Unless we believe we are continuously running some random grandiose human experiments the results of which will be only known to us with passage of time, how can we justify the acts of Professional class?
Many of my classmates chose to work with Infra and real estate companies. The Infra and real estate businesses were booming and there was a need to apply business talent and skills. But don't we know how most of these companies operate? Should they have associated themselves with such companies and legitamize the growth process
of those companies? I do not mean all companies are like that, but it is hard for me to believe that any company can grow without crossing thin legal lines in this space.
Is Professional class taking cues from beuracratic class to legitamize business environments that KYC (Know Your Customer) Policy shall be a mere formality document, Due diligence of Partners and associations will be just an eyewash and investment commitments are made purely based on the ROI (Integrity---Do we have a meaning for that?)
Can Professional bodies/members boycot certain entities/members based on the perceived knowledge rather than wait for judicial process to prove that such entities/members are found guilty. More whistle blowing? Can such actions lead to societal transformation?
ISB has Host Family Network called Akiya.
It consists of people from SATYAM Raju's family, real estate developers/brokers and Government contractors.
Can any one from ISB Alumni or current batch throw some light on this Host Family Network?!