Udai Vir Singh`s 7 Deadly Sins of Corporate Mismanagement, published soon after the Satyam scam - the largest in India`s known economic history - exploded and at a time when recession is gnawing at well-established corporate empires in developed countries, might be an apt and timely warning to the entire business community.While what happened at Satyam was outright massive fraud, the fact remains that mismanagement creates the ideal climate or circumstances not only for fraud to flourish but also for it to not get detected easily. Two classic examples of mismanagement plaguing India are those in the defence and security sector and in public sector undertakings. It does not take much to figure out what the two key ``factors`` responsible for mismanaging these areas are. Another permanent contribution by these two factors is corruption, which is a close cousin of mismanagement. While frauds bred by mismanagement can cause a collapse of the organization, corruption can at least make it sick. As a timely wakeup call this book is a ``must read`` not only for senior corporate managers, management teachers and first and second generation entrepreneurs, but also those who have been managing, or rather, mismanaging India. Because even if Corporate India succeeds to sail through the turbulence of recession, good governance will be required all the more in the coming decades to meaningfully manage a crazy paradox of a country like India ? bursting at its seams with human resources, but many sections of which are suffering owing to a gross mismanagement of the distribution of material resources.
Posted By:Newspaper - The Asian Age (29 July, 2009)
