Business Today 14th January 2018 - Page 142

The Best Management Lesson I Learnt
ILLUSTRATIONS BY RAJ VERMA communicated these issues honestly and transparently to all the stakeholders . We neither denied their existence nor discounted the truth , which is unfortunately seen as a practice that makes stakeholders suspicious . We also gave shareholders a detailed plan of the corrective actions , and executed them in letter and spirit . Our strategy comforted stakeholders , who were already stressed due to difficult market conditions .
The trademark of a resilient organisation lies in its ability to recognise problems . Denial never yields solutions . However , accepting the truth and speaking about it requires a lot of courage . Honesty and transparency puts leaders through trying phases , but like every hard taskmaster , they also help generate tremendous credibility and goodwill .

Dual Role for the NSE : As India ’ s premier exchange , NSE wears many hats . As a front-line regulator and a key stakeholder in market development , NSE works closely with the government and the regulator . At certain times , we have to provide advice on matters that may have short-term negative implications on the business . However , it is important to always focus on the long term and recommend and

142 I BUSINESS TODAY I January 14 I 2018
The Best Management Lesson I Learnt ILLUSTRATIONS BY RAJ VERMA communicated these issues honestly and transpar- ently to all the stakeholders. We neither denied their existence nor discounted the truth, which is unfortu- nately seen as a practice that makes stakeholders sus- picious. We also gave shareholders a detailed plan of the corrective actions, and executed them in letter and spirit. Our strategy comforted stakeholders, who were already stressed due to difficult market conditions. The trademark of a resilient organisation lies in its ability to recognise problems. Denial never yields solutions. However, accepting the truth and speaking about it requires a lot of courage. Honesty and trans- parency puts leaders through trying phases, but like every hard taskmaster, they also help generate tre- mendous credibility and goodwill. D ual Role for the NSE: As India’s premier ex- change, NSE wears many hats. As a front-line regulator and a key stakeholder in market de- velopment, NSE works closely with the government and the regulator. At certain times, we have to provide advice on matters that may have short-term negative implications on the business. However, it is important to always focus on the long term and recommend (ȁ$ UM%9MLQ=d$)ՅЁ$