DailyPost 1121
AWARDS, ACCOMPLISHMENTS, ACCREDITATIONS, DATA & CLAIMS
Do you remember of anybody from any business enterprise or even an academic institution or a free lancer in business, who has not made one or many of these claims. This is the regular introduction enterprises engage in. There is always a selling pitch with no effort to dissect the reality as it stands or inform the level of capability to perform a particular task or execute a complex project, based on a through research of their own resources and a detailed requirements of the project. Nobody has been the winner and for sure business has been the loser because it is not able to stand on its own feet.
With all tall claims all these modalities, the way businesses have crashed is nobody’s business. From Lehman Brothers to our own home grown Satyam to the Rupert Murdock’s News of the World, these can beat any Hollywood thriller hollow. Not to talk of the Kingfishers and Jets. The underbelly in Über is also out and so is the case with the dirty underbelly of Cambridge Analytica and Facebook combine. Who is certifying these guys? Who are giving them awards? What should be the fate of the guys who made lofty claims?
All this is done knowingly. Despite all claims to the contrary, more often than not Business Development has no rules, it just has compliances to make good with. Why shouldn’t this whole trade of accreditations, certifying, data validation etc not be done only by Regulatory Authorities? Regulation without having full control of the nuances of business is not going to take us a long way. Having been repository of public money in public limited companies, all the information to the minutest detail should be made available to whosoever asks for it and finally for all.
From the PWCs to Gartners the Standard and Poors decide the fate of companies and the trajectory of business on some surveys, some “audited public domain data” and the interviews of the CEOs of the very same companies, who tend to gain. New Economic Order has to take care of these anomalies in a Govt. lead Representative Regulatory Mechanism which can provide the world the real MRI of business enterprises.
PRIVATE AUDITING / CERTIFYING AGENCIES AUTHENTICATE WAY BEYOND THEIR CAPABILITY.
Sanjay Sahay