Business Today 14th January 2018 - Page 140

The Best Management Lesson I Learnt ‘Honesty Is the Best Corporate Policy’ Building a bond of trust between all stakeholders, be it employees, clients or investors, helps tide over crises and generate goodwill. BY VIKRAM LIMAYE MD & CEO, National Stock Exchange Being honest, transparent, and building trust with all stakeholders is the best corporate policy, and something that I have always followed. It helps the leader in difficult situations, and tackles those dark periods of uncertainty that loom over businesses from time to time. Much earlier in my career, I learnt that when honesty and transparency become a part of or- ganisational culture, it becomes a disposition with a trickle-down effect. Above all, it builds a bond of trust between all the stakeholders, be it employees, clients, vendors, partners or investors. A leader is the custodian of an organisation. He should develop and nurture talent and position his team for success. I believe in the spirit of stewardship, in leaving behind an organisation that is substantially better than what was inherited. There comes a time when every organisation has to face hard truths. It could either be delivering lower- than-expected results or bearing the brunt of a bad decision. It is not uncommon to see organisations sweep negative news under the carpet. Quick reme- dial measures to solve a problem, before it becomes public, don’t work. Truths cannot be hidden and, once known, can cause greater damage if not disclosed in a transparent manner. Honesty becomes a critical partner while manag- ing a crisis. In the last organisation that I worked for, there came a time when asset quality issues arose. We 140 I BUSINESS TODAY I January 14 I 2018