New Delhi, March 20 (IANS) As certain Indian digital companies like Byju’s, with a mammoth $22 billion valuation once, get embroiled in corporate governance issues, top industry leaders have said that running a clean company with honest practices and good governance is more important than having the highest market cap.
In a conversation with Kunal Shah, founder of fintech major CRED, veteran investor and Info Edge Founder Sanjeev Bikhchandani said that the leader’s role is not to sell stock but to ensure that when somebody else wants to sell their stock, there are enough buyers.
“A leader needs to build the company for all shareholders, and ensure everyone gets rich, not just themselves,” he told Shah on the latest episode of “CRED curious”.
Founders need to create trust across the table with co-founders, colleagues and shareholders.
“The principles of trust are integrity, consistency, competence, benevolence; the presence of all doesn’t guarantee trust, but the absence of any creates mistrust,” said Shah.
According to them, one person’s error impacts the entire ecosystem.
“In 10 years, there will be many more profitable and large Indian internet companies. We are all ecosystem participants and every error of competence, judgement, behaviour impacts us all,” the industry veterans argued.
“Running a clean company with honest practices and good governance is therefore more important than having the highest market cap,” they stressed.
Bhikchandani advised founders to go public only when their profit streams are sufficient to support this, while Shah suggested that companies should go public only when they’ve run eight quarters like a public company.
–IANS
na/
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by TodayIndia.news and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of TodayIndia.news We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, TodayIndia.news takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.
