D Shivkumar CEO PepsiCo shares on Building Trust at XLRI`s JRD Tata oration on Business Ethics

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MBAUniverse.com News Desk |
December 2, 2014
XLRI Jamshedpur recently organized the 23rd Annual JRD Tata Oration on Business Ethics
"A company can only build trust in a digital world if the company is humble, responsive and orchestrates the response" D Shivkumar CEO PepsiCo India

Xavier School of Management (XLRI) Jamshedpur recently organized the 23rd Annual JRD Tata Oration on Business Ethics.  Mr. D Shivakumar, Chairman & CEO of PepsiCo India delivered the oration on the topic “Building Trust” at the Tata Auditorium at XLRI Campus on November 29, 2014. Fr. E Abraham, S J, Director XLRI welcomed Mr D Shivkumar.

 

The session was attended by Fr. E Abraham, S. J. Director, XLRI, Dr. Pranabesh Ray, Dean (Academics) XLRI and Fr Ozzie Mascarenhas, S.J. JRD Tata Chair & Professor of Business Ethics at XLRI.

 

Speaking on the occasion Mr D Shivkumar, Chairman & CEO of PepsiCo India 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.”

 

Emphasizing the need of ethics and defining business ethics, Fr. E Abraham, S. J. Director XLRI said, “In the public mind, ethics in business are mainly connected with financial integrity. Important as that is, the real meaning of the word "ethics" goes far beyond that. The Oxford Dictionary defines it as "the science of morals in human conduct, a moral principle or code." The word ethics encompasses the entire spectrum of human conduct.  Business ethics encompass how a person in business deals with his or her: Colleagues, Staff and workers, Shareholders, Customers, The community, The Government, The environment and foremost The Nation, and its interests. It is our belief that ethical behavior by the leaders of any nation or organization will inevitably set the tone for the rest to follow, ultimately leading to a “just, humane and equitable” society.”

 

On the occasion Fr Ozzie Mascarenhas, S.J. JRD Tata Chair & Professor of Business Ethics at XLRI commented “Ethics deals with human behavior and is currently reckoned as a responsible action program for the betterment of individuals, groups, organizations and societies.  Ethics empowers us to chart and live a new value-laden direction in life. It becomes relevant wherever people interact and function together.  Hence, every field of business such as planning and strategy, accounting, finance, human resources management, business law, marketing, business research, and production management involves ethical issues and challenges”

 

Mr Shiv Kumar stressed that it is far more difficult to build back the trust than to build it from scratch. In his view ‘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 honours JRD Tata’s vision of ethics and values  by organizing The Annual JRD Tata Ethics Oration Day. 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.  

 

XLRI is the first B-school in the country to introduce a core course on “Managerial Ethics” for both its HRM and BM programmes.  Each year, XLRI confers a medal on the best student in Managerial Ethics at the institute’s annual convocation.

 

XLRI will be conducting XAT 2015 across the country for admission to MBA/PGDM programmes in 120 B schools including XLRI in India. The exam will be conducted on January 4, 2015 in paper pen mode in a single session of 3 hours. On line Registration for XAT 2015 is open with a registration fee of Rs. 1000/-.

 

XLRI Jamshedpur is a premier, private management school in the country founded in 1949 by Fr Quinn Enright, S.J. in the Steel city of Jamshedpur, Jharkhand. Over the last few decades, XLRI has striven to contribute to the professional growth and management of innumerable institutions that serve the public, especially organized industry, labour, service agencies engaged in rural development, education, health and other public systems.

 

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