One afternoon when I was busy in my non-routine socializing business, as it was my engagement for a change, I got a call from one of my friends. The call had foremost shaken my fiancée, as if he was told, he will be fired after he returns. But the news was even more to leave gasping, it was a dirty magic trick which happened over years and vanished the 94% of cash from the company’s account books.
Unlike his reaction on the issue, I was quite in a normal pumping. As it was in “politically correct” terms, was going beyond the letter ‘Z’ of law in verge of maximizing the shareholder’s value by making a prudent use of minimal organizational resources.
Ever since the tide got out and the corporate honcho Mr. Raju along with his team were found swimming naked in the ethical pool of business determinations, left the decision makers; striving to find a swim suit of right size for them. As a side effect, it kept me wondering what kind of audience am I.
On a deep analysis, I found there could be three kinds of audiences, one who are “politically astute” and prefer taking ethical high grounds when it comes to dripping ink on such issues. Second are the insecure section, they will rather not participate, other one are those who will express what they thought, irrespective of how “politically incorrect” it may sound. I fall in the third section, so this makes me pretty justified to take a stand of my choice with an assumption of no personal or professional grudges.
As a simple rule, when employees, accountants, lawyers intend to do wrong, no amount of legislation would stop them. It would be a wait and watch fodder for the affected community that is politicians, press, competitors, future generations, lawyers and courts.
Everyone in the affected section benefited, it turned to be a burning coal for the political campaigning; good amount of fodder in winters for the Press; ah! more of mud slinging and snatching deals by competitors; preferable time to pick up case studies in B-schools and earn visibly in short term investments; a big FAT case to indulge in with more briberies and magisterial parties for lawyers; Courts were lesser of law and more of a football blame-game.
There were enough signs for the day to come; attempting a highly controversial merger deal with a non-related, non-profitable Maytas was no ‘good’ action to be justified as utilitarianism. It was a sheer selfish universalism for Rajus, who tried another blindfold to justify their $1 billion non-existent cash. Unfortunately, it’s when the nature of law overcame in a miserable way, the government woke up from the sleep where everything is condoned till corporate pay taxes and the social responsibilities are carried out.
Then started the dirty game, which started from “What the Satyam auditors were up to in past few years???” to “Will the Government be sustained??”
After howling highs and lows, from 500 to 6 and to 100 now, we were stuffed with different views by x number of articles and discussion forums happening daily. We just had facts in mails and curiosity for tomorrow’s headlines. Agreed! It was a scam of one of its kind which happened in an Indian IT industry. But Enron, WorlCom, Arther Andersen, Tyko, Sunbeam, Qwest, Xerox etc partying in the same hall of shame were also one of its kinds. A SCAM is a “scam”, violation of financial accounting rules, internal control rules and executive ethical conduct rules; in short Sarbanes-Oxley was badly raped!!
Thinking on the learning at the various bands in the company, there is nothing from S to BI. I still go at 9 and come back at 6, addressing the technical issues as before. Nothing happened except for some projects went out, which was obvious! The talent pool in the company is strong enough to keep the show going. The company has given enough footage for the VPP guys to fish outside the company.
Good God! The company is not orphaned for long and it got the Mahindra cradle.
All the drama till today has NO LEARNING to be frank. It would be a waste of time and energies if we sit concluding on Dos and Don’ts from here on. The management was weak in their fundamentals, if they were not, the renditions above and old geezers will make them weak in knees. They have been snapped of their thinking power by the owners for the well being of their offspring. Mishap.. Can’t Help!
I feel the scam didn’t reach at the levels of workstations; it cropped at the final levels and rested in peace. So, workstations guys should not be in the position to comment, and if they do, that would be a copy-paste. Not as learning but a reminder that we, the people at the code level should not move by any of the management disturbances and continue giving our part.
Post Jan 7th also, we were on our benches coding for the clients and that is one of the reasons, we are not as much effected as the top management guys. Obviously, we will never be till; we are individually implicated in the decisions of the company.
Violation of laid regulations is rightly agreed, which indicates that a redo of the management books is required prior to taking decisions for the company who runs the bandwagon for hundreds of families. Lastly, for the people like me who are more expressive than thoughtful, as with any controversy, it's no surprise that some of the scammers are being unveiled. It certainly doesn't mean that all companies are scamming, but it is a learning that unless you're personally involved, it's pretty tough to take a company's word on what it's actually been doing with its money.
At the end of the day, I would still like waking up to come to the office for my chores…that’s What Business Demands!