OME accomplished chief financial officers of established companies like Tata Consultancy, Tata Chemicals and KPMG set up a think tank as a body that would engage with relevant audiences—India Inc, regulators, administrators—to create and nurture better-governed enterprises. After all, CFOs have a strong C-suite role and influence on enterprise promotion and development. I recently participated in a CFO Board event.
CFOs have a crucial role in nurturing ‘enlightened capitalism’ in their companies. Enlightened capitalism enterprises meet four criteria: (i) they are respected and loved (try to list a score in India), (ii) they are focused on longevity as an effectiveness marker while protecting economic efficiency, (iii) they create shared wealth for stakeholders rather than create endless pink-paper controversies, (iv) they act to be long-living enterprises.
Examples are well-known giants like TVS, Murugappa, Godrej, Tata, Bajaj. Or lesser-known companies, who act as ‘small giants’—medium in size, but giants in nurturing community-oriented, ethical practices, such as PSG of Coimbatore, Nalli of Chennai and Malayala Manorama of Kerala.
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