|
"I am an MBA and not a legal guy, why should
I have legal competency." This may be the
common opinion across the vertical of organization
amongst the young managers, who have either started
their career or are at the threshold of the
corporate world. The MBA, as a curriculum, attempts
to develop in a person all-round capabilities to handle the various resources like money,
machine and man. It aims at optimum utilization of
the resources to maximize up line and minimize
cost. One may, however, argue whether man could be termed as a resource or controller of
resources. Irrespective of the line of business, however,
one has to carry it out within the prevailing laws of
the land. Thus, it is imperative that the managers should be competent enough to interpret
the various legal repercussions of each of their deeds.
Undisputedly, the fastest growing sunrise sector is telecom with its level of
mobile penetration across the people of the nation.
In the multiplayer regime, most of the market has four to six service providers. To
protect business interest, in spite of the
specific guidelines of TRAI as regulator, SIM cards
are made available in abundance. The ultimate SIM card seller does not even find it
reasonable to question a person purchasing 10 SIMs at
a single go. Nevertheless, at the end of the day, the nation is paying a heavy price in the form
of terrorist attacks.
Despite the regulatory guidelines of IRDA, insurance advisors are selling
insurance policies by, sometimes, suppressing the
exact terms and conditions of the policies. The advisors, after their assignment is
completed, do not follow up with the customers.
Then when the policyholders actually begin to understand the content and its
inherent obligation, they start cursing the company
and, thus, the company and the industry get a bad name.
The collection agents are act tough while recovering bank dues, which finally leads
to litigation - a cost to both the customer and the banker. It also gets a bad name to the
banker. One may wonder what made the bank sanction the loan without sufficient verification and
risk assessment as per the specific guidelines of RBI, the banking regulator. |
