Focusing on the topic for this year -- 'Surfing the Slump', the conference provided a platform for both academicians and practitioners to discuss and devise innovative strategies for staying ahead in tough times. The inaugural address was delivered by Padma Shri Dr. Amit Mitra, Secretary General FICCI.
LIBA also introduced the first-ever text book on business ethics with an Indian perspective – 'Business Ethics' by Prof. A.C. Fernando. The book was released world over by Mr. T.S. Krishna Murthy, Former Chief Election Commissioner of India at Beacon '09. The objective of the book is to asceticize issues of business morality and build capacity such that the futures of recent corporate scams are nailed deep in coffins of the past.
Renowned speakers from across India such as, Padma Shri Sucheta Dalal, S. Gurumurthy, acclaimed writer, Ms. Chitra Ramakrishna, Deputy Managing Director, National Stock Exchange and Mr. F.R. Joseph Regional Director RBI, Chennai, Mr. R. Sundararaman, Senior Vice President, NSE and Mr. P. Murari, IAS (Retd.), Advisor to President, FICCI participated in the event.
The conference also had an international panel discussion on 'International Perspectives' that involved speakers like Dr. Johannes Schneider -Germany, Dr. Lodewijk Berlage – Belgium and Mr. Mike Murphy – Ireland.
Delivering the inaugural address, Padma Shri Dr. Amit Mitra, Secretary General, FICCI, said "It is an honor for me to be a part of LIBA Beacon '09. I believe the reason for the current financial meltdown is the interconnectivity between the unregulated sector (investment banks) or lowly regulated sector and a regulated sector (commercial banks) and then of course the housing. This trio produced the crisis. The solution is to re-stimulate the growth. People should remember that this meltdown is serious but not as grave statically as the great depression. India moving in the right direction the government is doing the right thing, the last policy was well accepted, but we want more."
He also suggested further for surfing the slump budgetary support for more infrastructure development and to infuse demand based revival; more income tax rate cuts.
Speaking on the occasion, Fr. P. Christie SJ, Director, LIBA, said "The current unprecedented global financial crisis caused by insatiable greed of people and ethical vacuum in business leadership calls for serious introspection and committed action plan. Loyola Institute of Business Administration (LIBA) committed to provide value based business education and promote business ethics among its fraternity and the corporate world, is organizing its Third International Business Ethics, BEACON '09, to deliberate and draw lessons from the current crisis gripping the world. I hope and wish that BEACON would shed light on the directions that various actors should take in future to have a sustainable and responsible financial system."
Corporate Governance – Issues & Lessons, What should India do to become a leading economic power in the world, Behavior of Capital Market, Lessons & Challenges for the Banking System etc were some of the topics discussed at the conference.
