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Wednesday, March 21, 2012

E=MC2 Ethics = Money*Conscience 2

We all have studied Einstein's famous theory about how energy equals mass times the velocity of light squared.Given our current economic,political and social environment, I felt it was appropriate to cast another definition for this immortalised formula !

Ethics = Money*Conscience 2

Look at whats happening in the world this last decade. Huge organizations ( some very large names too) came tumbling down overnight,trillions of dollars of wealth was wiped out globally, thousands of people lost their jobs, those who managed to keep theirs ,had to take large pay cuts.
The impact of the big financial meltdown few years ago can still be felt and will continue to cast its ugly shadow for many years to come. Article after article surfaced in newspapers and magazines, business TV channels cried hoarse and the pundits debated long hours on the reasons that led to the meltdown.

Reasons, there were many. Lack of adequate regulation, compromise on governance and most of all the greed for more, faster, better. In this mad rush for the gold, values of sustainability, ethics, "good profits" were quickly relegated to the background. As long as short term results soared, the stock market ticker glowed green and the bonus pools kept getting larger, who cared about customer interest, long term impact and the enticement of living beyond ones means

The good news came , made instant billionaires and sent the financial markets soaring. The bad news came faster. Banks, companies, even governments tumbled heavier than humpty dumpty's great fall. Unfortunately the biggest impact was on people like you and me .. coz we were the employees, the customers, the small business owners,who lived the impact.

Fortunately this has also taught us our biggest lesson - that today,ethics and good governance, responsible business and sustainability are not "good to do". They are a "must do".

With this objective of advocating ethical and responsible business , H H Sr Sri Ravi Shankarji envisioned a global platform 7 years ago, bringing together business, politics, academics ,science and civil society . This global community converged in a annual conference hosted in the European Parliament in Brussels, Belgium every year. Over these last 7 years, more than 3000 leaders from around the world have discussed & debated how business can be done ethically, how human values can be integrated in the cut throat, competitive business environment. A very tangible outcome of this journey was the constitution of "The World Forum for Ethics in Business" ( WFEB) 2 years ago.

WFEB has forged a strategic partnership with The World Bank Institute, The Earth Charter and many reputed organizations with a two fold objective
- creating a global platform & community for advocating good governance and ethics in business &
- working on strategic actions to influence sustainable change

I have the honor and responsibility of presiding over this forum which has a very illustrious Board of Directors.

In 2012, we have taken a strategic decision to increase the global impact of this important message by hosting regional conferences around the world. The first such conference for the Asia Pacific region is being hosted in Singapore on April 2, 2012 to be followed by Berlin, Amsterdam, Dubai in addition to the annual conference in Brussels in november this year

I spent the last two days in Singapore with our dynamic organizing team , who in less than 8 weeks have put together a stellar panel of speakers & partnered with prestigious organizations like the Singapore India Chamber of Commerce, Nanyang Business School, Singapore Compact, The American and British Chamber of Commerce & The Singapore Business Federation !!!

On April 2nd, Over 200 delegates , along with a strong contingent of young student leaders from Nanyang, S P Jain Business School, SMU, will get an opportunity to reflect on how responsible leadership and ethics can lead to long term profits and sustainable growth. They will have the incredible chance to interact with H H Sri Sri Ravi Shankar himself and learn from his wisdom - of how he inspires humanitarian work in 152 countries of the world , through volunteers !
How his organization, which probably has a hundredth of the resources of some large developmental agencies in the world , has been able to create such a huge global impact

I am so inspired and encouraged by the amazing response we have got in Singapore. It is testimony to the fact that the global community that believes in ethical business s growing

If you care for how your younger brothers,sisters,children,nephews and nieces will survive in the economic world of tomorrow, this is your chance to make a difference.

Lets take the steps now to infuse our conscience into the way business is done .
This way , money & profits being earned ethically will be a forgone conclusion !

If you are in Singapore,don't miss this golden opportunity.

See you on April 2nd

Coz for "Ethics in Business and Leadership -The Time is Right, Now!"

www.wfeb.org

1 comment:

  1. good to hear about the April 2nd event waiting to hear about the updates from the event

    ReplyDelete

 
 
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