Articles 1 to 10 of 14
Illegal Insider Trading: A Reflection of Character
According to Ignatius Chithelen, managing partner of New York City investment firm Banyan Tree Capital Management, recent news of illegal insider trading charges against Raj Rajaratnam of Galleon Group, a US$3.7 billion hedge fund, has inspired a round of gallows humor on Wall Street. But the charges against Rajaratnam and five others also raise fundamental questions about the relationship between character and success, and why investors need to take notice of any potential red flags, Chithelen argues in this opinion piece.
In India, Will Corruption Slow Growth or Will Growth Slow Corruption?
Now that India is playing an ever larger role in the world economy, the issue of corruption, in both the private and public sectors, is coming into sharper focus. Two scenarios are possible: As India's multinational corporations develop both economic and political muscle, they may act as a broom, sweeping corruption from the economic sphere. On the other hand, entrenched practices may prove the stronger force and corruption could end up being a significant brake on India's economic rise.
McKinsey's Rajat Gupta: 'It Is Vital for India to Press Forward with Reforms'
How should India realize its dreams of becoming an economic powerhouse? Rajat Gupta, former worldwide managing director of consulting firm McKinsey & Company, addressed this theme at the annual Wharton India Economic Forum, held in Philadelphia, Pennsylvania, on November 11. In his keynote address, Gupta made the case that India should press forward with its reforms in order to achieve its goals and laid out both economic and social priorities that need to be addressed.
Indian NGOs: Learning to Walk the Line between Social Responsibility and Commercial Success
India's social sector has in recent years seen a surge in funding and other support from global nonprofits, venture funds and individuals; it has also proliferated, rapidly expanding in depth and reach. The upshot has been a dramatic increase in the induction of professional management practices, creative networking between donors, other intermediaries and beneficiaries, and a greater rigor in the viability and performance appraisal of funded projects. These efforts are paying off and getting NGOs (non-governmental organizations) away from their traditional model of sustaining themselves solely through charitable contributions.
Why the Fight against Poverty Is Failing: A Contrarian View
Abraham George is the founder of The George Foundation, an NGO engaged in humanitarian work in India, and the author of India Untouched: The Forgotten Face of Rural Poverty. In this contrarian essay, he explores why the current strategies that governments and development agencies are employing to reduce poverty are not working the way they should. Among his arguments: Microcredit programs, as they are now practiced in India, do little to help the poor.
Case Study: How Aseema Seeks Business Success without Selling Its Soul
Ten years ago, when Aseema began its journey to educate underprivileged children, the road was not clear, nor was a destination in sight. But today, this not-for-profit organization has achieved reach and scale. Over the years, the sustained efforts at managing and streamlining its work professionally have enabled Aseema to change its operational and structural imperatives without losing sight of its goal. The Aseema story focuses the spotlight on the successes, problems and strategies that guide not-for-profit efforts in India.
Linking Strong Moral Principles to Business Success
In Moral Intelligence: Enhancing Business Performance & Leadership Success, Doug Lennick and Fred Kiel look at the connection between strong moral principles and business success. Using original research, the authors show how the best performing companies have leaders who are able to promote moral intelligence throughout their organizations, despite the fact that the business world all too often rewards bad behavior, at least in the short run. Included in their book is what the authors call their Moral Competency Inventory, a metric that can help leaders assess where they and their organization currently stand.
Tiffany & Co: A Case Study in Diamonds and Social Responsibility
"Minerals should - and can - be extracted, processed and used in ways that are environmentally responsible." Those words, coming from Michael J. Kowalski, chairman and CEO of Tiffany & Co., set the stage for a discussion last week of the luxury jeweler and specialty retailer's recent efforts to bring about industry reform. Kowalski spoke to a Wharton marketing class that looked at such issues as how Tiffany should proceed in its campaign to promote responsible mining, what the campaign might do to its brand equity, and how the public commitment to reform could affect consumers and shareholders.
Death of a Drug: The Aftermath of Merck's Recall
Wharton management professor Michael Useem, director of the school's Center for Leadership and Change Management, notes that one of the key mantras in corporate crisis management is: "Hide nothing, tell all." Less than a week after Merck & Co.'s voluntary withdrawal of its blockbuster arthritis pain medication Vioxx, following an extended clinical trial that linked the drug to heart attacks and strokes, the jury is still out on whether the pharmaceutical giant followed this cardinal rule. Wharton professors debate Merck's response to the crisis and the impact of the recall.
Going Once, Going Twice ... Glamour, Greed and Fraud at Sotheby's and Christie's
Christopher Mason, author of The Art of the Steal: Inside the Sotheby's–Christie's Auction House Scandal, thinks billionaire Albert Taubman got a raw deal when he was sent to jail for price-fixing two years ago. But the book is more than a defense of the famed shopping center developer who became owner and chairman of Sotheby's in 1982. It is a detailed, gossipy account of the inner workings of the two firms known for auctioning the multi-million dollar paintings, diamonds, emeralds and other possessions of the rich and famous. While the art world this week buzzes about the August 22 theft of Edvard Munch's "The Scream" from Oslo's Munch Museum, The Art of the Steal talks about a different kind of theft, focusing on the background behind the auction houses' price-fixing conspiracy, who was involved and how it came to light.
