Getting Real About Governing Corporations
Quality Times, August 2002

The ultimate aim of good governance must be to make corporations good corporate citizens. Corporate citizenship calls for creating value for the society as a whole and goes well beyond corporate social responsibility and coporate philanthropy, argues Dr. Mehra, President, World Council For Corporate Governance.

The strange thing about the latest stock market collapse is that it has not nose dived because of Japanese dropping the atom bomb on Pearl Harbour or Saddam's Hussain's attack on Kuwait or the Twin Tower attacks of 9/11. Americans have simply lost faith in the ability of their iconic enterprises to return their savings.

With growing dominance of the markets and emphasis on immediate gain people's behavior is guided almost exclusively by prudential and not moral consideration.

We must realize that knowledge economy behaves differently from capital economy. Success in the knowledge economy requires boards to change their industrial age paradigms.