Business and Ethics

Authors

• Narender Dhand, Micromatic Grinding Technologies

Document Type

Discussions (Round Table)

Abstract

Short cuts in earning wealth and a preoccupation with business growth to the neglect of other elements, inevitably spell grief, so believes Narender Dhand, Founder, Chairman and MD of Micromatic Grinding Technologies, a company which began as a ‘modest tool room’ and now occupies a dominant position in the Indian machine tool industry. Before dealing with ‘external’ ethics, Dhand believes in putting his own house in order. At the foundation of the core values of MGT is the commitment to ethical business practices with a people focus. The MGT culture is operationalised in their scrupulously honest dealings with the authorities, even if it was initially to their detriment; free communication from top down to the factory floor and every employee’s right to be heard; commitment to professionalism, and 25% of their net profits being distributed among employees. Their commitment to social justice goes beyond the welfare, training and equal opportunity schemes for their workers, to being involved in the social reconstruction of Ghaziabad.

Recommended Citation

Dhand, Narender (2002) "Business and Ethics," IIMB Management Review: Vol. 14: Iss. 4, Article 16.
Available at: https://research.iimb.ac.in/imr/vol14/iss4/16

Publication Date

12-1-2002

First Page

93

Last Page

96