Maharashtra Governor calls for integrity in business

Maharashtra governor Mohammed Fazal on Monday said there is a need to look at the integrity of business practices notwithstanding the fact that profit is the lifeline of any business or economy.

He called for participation of more women in the decision-making process, be it in business or politics.

While going after profits, it is essential that corporate governance and social responsibility as also empowerment of women are not lost sight of, Fazal said in his inaugural address at the golden jubilee celebrations of the Bombay Management Association.

"Though women constitute close to 50 per cent of the country's population, they do not have a say in the polity and the business," he said.

Adi Godrej, chairman, Godrej Group, underscored the need for management to encompass all walks of life - small-scale industries, agriculture, political parties, judiciary and the trade unions - and not to be restricted only to the corporate world.

A K Purwar, chairman, State Bank of India, said in a networked world, the management associations could play a signal role in building opinions, involving themselves in peer reviews, setting standards of excellence in various areas of business. He emphasised that work experience is needed before entering the portals of management schools.

Purwar recalled the words of President APJ Abdul Kalam that India should become a developed country by 2020.