23rd Annual JRD Tata Ethics Oration on Business Ethics by Mr. D Shivakumar

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23rd Annual JRD Tata Ethics Oration on Business Ethics by Mr. D Shivakumar

XLRI- Xavier School of Management, one of India’s premier B-Schools held the 23rd Annual JRD Tata Oration on Business Ethics.  Mr. D Shivakumar, Chairman & CEO of PepsiCo India delivered the oration at the Tata Auditorium at XLRI Campus on 29th November, 2014.In his oration, Mr. Shivakumar delved on the topic of – “Building Trust”.

He pointed out, “Trust is declining in most countries, societies, companies and relationships. Trust is declining because values are not being practiced. We don’t see enough examples of everyday practice of values. Trust is declining because we are not increasing inclusivity.”

“In an organization trust is the glue that keeps the culture together. Trust in senior management keeps hopes alive, trust in senior management gets people to commit their best. Trust in senior management attracts good talent to the company”, he said.

A good leader never compromises on his vision, but compromises for his vision. That’s what builds trust for him or her

He observed, “The best leaders know that building trust is critical to their success. Leaders build trust when they bring clarity to the table, they communicate with passion about the purpose. They consistently set a high benchmark and will not drop it to appease a few people. They connect emotionally with large bands of people. They have a high degree of commitment to do the right thing and agonize with their time and effort to do the right thing. They are always grateful for the chance to be the leader and show that in many ways to people, teams and corporations they lead. A good leader never compromises on his vision, but compromises for his vision. That’s what builds trust for him or her.”

In his speech, Mr. Shivakumar stressed that, “Building back trust is far more difficult compared to building trust from scratch. Leaders can build trust by being straight and honest with their stakeholders. That transparency builds more trust than selectively discussing information. The outcome of telling the truth is that you don’t have to remember it. Truth telling is a step ahead of whistle blowing. Ethics and good governance are foundations of building trust. A company can only build trust in a digital world if the company is humble, responsive and orchestrates the response from within the company to address stakeholders concerns.”

XLRI in association with select Tata Group Companies established the JRD Tata Foundation in Business Ethics in 1991, to mark their long-standing commitment and contribution to business ethics in India. The Foundation seeks to address itself by publicly affirming the urgent need for ethics in business and the need to bring about a conducive culture in which it can thrive.  An increasing number of organizations are realizing the importance of ethics in business in today’s world.

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