Stressing on professionalism, hardwork and ethics as the key to success, Union Human Resource Development Minister Kapil Sibal said the popular perception in some quarters that being cunning and manipulative pays in corporate world was wrong.
"It is not true. Ultimately it is your professinalism, skill, hardwork and ethics which will take you far ahead", told students at the convocation of IIM-B.
"We have witnessed in recent times the fall of once large and proud international and national corporations.
"This gives rise to serious questions about the practices in some of the best known companies", he said.
Sibal said though vast majority of employees were hardworking, honest and ethical people, sometimes, it took only a few unethical top managers to ruin the reputation of an organistion.
He also said innovations were the DNA of new businesses and requires capabilities, values, mindsets, leaderhsip and management approaches that were fundamentally different from the ones practiced hitherto.
"You must stop thinking about businesses as being about particular products, services or business model, which is fixed static value propositions. Innovations are the DNA of new businesses," he said.
In the changing new milieu, organistions need radical innovators who are passionate about what they do and are not afraid to rock the boat.
The rapid globalisation would call for managers to bridge the cultural gap, develop business approaches and retain the competitive edge by being flexible improvising, being tolerant and innovating.