(“ICFAI conducts interactive webinar session on “Ethics in business is no longer an option”)
“You are not doing doing any favour to society by being ethical. Let’s normalise doing right things” stated Mr. Maheshwer Peri, Chairman & Founder, Careers360 at the 25th WiseViews Interactive Webinar Series conducted on October 08, 2021 by ICFAI. He delivered an engaging talk with practical examples on the topic “Ethics in Business is no longer an option”.
Mr. Maheshwer Peri said “ethics is something very personal and what is ethical for someone may be unethical for others and vice versa. As long we don’t violate the Lakshman Rekha (inner consciousness) we are on the right path. When you are ethical, you are actually helping yourself and setting a right precedent for your subordinates to follow. Ethical people have more courage and conviction than the unethical people” he added.
Mr. Peri further stated that ethics ensures compliance of right things which leads to sustainability. We should never compromise in these values as it may become habitual and ultimately transform into illegal activity. Mr. Peri cited a famous quote by Mr. Warren Buffet that “It takes 20 years to build a reputation and takes only 5 minutes to ruin it”. Big companies like Sahara, DHFL, Satyam, Reliance Telecom etc., have fall out because of compromising and deviating from the normal practices. “A clean boss ensures a cleaner sub-ordinate”, said Mr. Peri. The compliance of ethical practices has to begin at the top which will be transformed to the other levels of an organization.
Explaining about the human tendency, Mr. Peri gave the example of Australian cricket team fallout due to the infamous ball tampering incident in South Africa. Due to that one incident Steven Smith has to lose his captaincy, few players are banned for a year or so and the Australian team sponsors have discontinued their association with them. This goes to indicate that people don’t like to connect themselves with unethical people.
Answering to a query in the Q&A session, Mr. Peri advised the B-Schools not to sell dreams to its students. Instead, make them understand that life will be tough and train them accordingly to face the upcoming challenges.
The webinar was moderated by Prof. R Prasad, Director – Academic Wing, ICFAI Group and Prof. Sudhakar Rao, Director – Branding, ICFAI Group.
About 250 participants including entrepreneurs, Research Scholars, working professionals from various parts of the country registered for this webinar which was also live streamed on facebook.
About the Speaker: Mr. Maheshwar Peri, Chairman & Founder, Careers 360.
A passionate entrepreneur, Maheshwar is a qualified CA, CMA and ACS. He started his career as an investment banker with SBI Capital Markets. He was associated with the Outlook group for 17 years and headed it for more than 10 years. Mahesh believes that the demographic dividend India seeks can turn into a nightmare if youth are not shown the right direction to maximize their capabilities. CAREERS360 is the result of his deep understanding of student issues, and the information gaps that need to be filled to help students take an informed career decision.
About ICFAI Foundation for Higher Education: The ICFAI Foundation for Higher Education is Deemed-to-be University under section 3 of the UGC Act 1956. ICFAI Business School (IBS) is a constituent of ICFAI Foundation for Higher Education. About 5,800 students are pursuing various programs in the Faculty of Management (ICFAI Business School), Faculty of Science & Technology (IcfaiTech), Faculty of Law (ICFAI Law School) and ICFAI School of Architecture, NAAC, an autonomous institute of University Grants Commission has also accredited The University with ‘A+’ Grade with an impressive score (institutional CGPA) of 3.43 out of 4.