`Country like India has great potential'

Updated on: Thursday, January 07, 2010

Varanasi: Prof Barry Cooney, former vice-chancellor of New Mexico University, delivered a lecture on mindful management at the Faculty of Management Studies, Banaras Hindu University (BHU).

Delivering his speech, he said, "a country like India has a great potential to grow, and it should learn from the failures of the countries like United States. Giving example of General Motors, he added that a company, which fails to change its philosophy with time, disappears soon. Any organisation should be ready to accept change and should change accordingly. "When a business starts, it faces most difficult time for its survival," he said adding that almost 80 per cent of the organisations fail in the first three to five years of their formation.

"After surviving this phase, an organisation develops stability and policies. The organisation should constantly examine its policies and procedure carefully."

Cooney, the author of `Conquering Dysfunction In The Work Place', further said culture of the organisation is very important at this phase. Both the efficiency and effectiveness are very important, hence one must do the correct task in the correct manner. "As soon as a business becomes self absorbed it starts to die. Hence, organisations should be morally upright."

`Country like India has great potential'

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