IPMX Students of IIM Lucknow Attend Workshop on Business Ethics by Dr. J. J. Irani

IPMX Students of IIM Lucknow Attend Workshop on Business Ethics by Dr. J. J. Irani

The students of the International Programme in Management for Executives (IPMX), the one-year MBA at IIM Lucknow - Noida Campus, interacted with Dr. J. J. Irani, Director, Tata Sons, through a half-day workshop on Business Ethics, at the IIM-L (Noida Campus).

Dr. Irani, who is also the Chairman of the Board of Governors at IIM Lucknow, presented an overview of the values and belief systems that have built and sustained the Tata image and philosophy till today. He identified Trust, Vision, Integrity & Credibility, Relevance and Compatibility as values ingrained in the Tata's philosophy of conducting their business. Dr. Irani demonstrated through various examples and personal experiences how values are not a handicap but an advantage to businesses, the benefits of which may not be immediately visible. He gave examples from the recent past of successful entrepreneurs in India who have displayed some of the core values that Tata has stood for.

Dr. Irani also highlighted the difficulty in sustaining peaceful co-existence of different value systems. The class had a vibrant discussion on the co-existence and importance of these value systems, how organizations generate their wealth and how they distribute it.

Talking on distribution of wealth, he strongly emphasized that Corporate Social Responsibility (CSR) should be built on a sustainable model. He illustrated the point through certain failed businesses that had generated consistent losses despite government backing and yet chose to be philanthropic, in effect using tax-payers’ money and not self-generated profits to promote public causes.

Dr. Irani was, however, of the view that what comes from the people should go back to the people. Ethics are about making choices that may not always feel good or seem like they benefit you, but are the 'right' choices to make.

IPMX participants, who possess substantial work experience, shared their experiences of situations where they were faced with ethical dilemmas. The interaction ended with a lively question and answer session based on real life cases on business decisions, labour disputes and politics presented by Dr. Irani.

IPMX, started this year by IIM Lucknow, is a one-year full-time post-graduate programme in management for mid-career professionals. The programme is being conducted out of the new Noida Campus of IIM Lucknow.

Concluded.

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