Convocation Address of Shri Brijmohan Lall Munjal

"Ethics is not definable, not implementable because it is not conscious; it involves not only our thinking but our feeling".

Therefore, ethics is more of a self-discipline. It cannot only be enforced by law. Recently, delivering the First Raman Munjal Memorial Lecture, my friend Mr. N.R.Narayana Murthy said, "ethical behaviour is doing what is best in enhancing the trust and confidence between two entities, so that, both the entitites feel energized and enthused to work towards the betterment of the common good".

In recent years there is a greater emphasis on corporate governance with the intent of enforcing transparency and fair play in the business dealings of enterprises. If equally responsive administrative governance supports good corporate governance, I am confident that India will match the performance of any industrial society in the world. We have all the skills, intelligence, human resource, and large domestic market as conducive factors.

I was going through the curriculum of EDI and I was happy to see some students who had specialised in family business receiving the Diplomas today. This is appropriate because even in developed countries like United States nearly 60% enterprises are still family run. In India too we have large number of entities which are family run. With young generations coming in, it is more imperative that institutions like EDI run such specialised courses.

Another thing I would like to caution people in business and I always advise my children and grandchildren not to entertain complacency. Because there is adanger that we may miss certain timely decisions and also we may lose trust of the people around us. Complacency means we are resting on our past achievements and taking life easy. One must be sharp and accept success with due humility. After all at end of the day the entire effort is team work. I myself accepted the Ernst and Young Entrepreneur of the Year Award on behalf of everyone who worked for my organisation.

I feel, at some stage, it's also the responsibility of the enterprises to be responsible corporate citizens and do their best to the society. Along with the growth of the Hero Group, we have promoted schools, colleges, health facilities and other necessary social infrastructure to make the area around us developed.

I hope the examples that I have cited would provide some guidance to the entrepreneurs in the making. I also wish that government and society recognises the risks and struggle undertaken by the entrepreneurial society and would create appropriate atmosphere for promotion of young entrepreneurs, which I think is a long-term solution for the development of India.

I also would like to say a few affectionate words to the new entrepreneurs who will be joining our family, that till now you were protected and supported by your parents. They looked after your needs and your aspirations. But soon you will be on your own. The world is open for you to experiment and realize your goals. Do not hesitate to do what is right according to your conviction.

One should not unnecessarily compare and one should have a sense of dignity in whatever one does. I know some friends who have picked up the simple job of supplying fruits and vegetables, cosmetics and toiletries to hotels and have become millionaires.

Do not forget one thing; be principled and singularly committed, and then the entire turf is yours. This career will change you and you will have the opportunity of improving the living conditions of the people touched by your products and organisation".

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