Well, what a week it has been, what to say, what to write, its still to sink in. On 7th Jan 2009, I completed a year in Satyam and 7th Jan 2009, Satyam fell like a pack of cards, India's 4th largest company, 53,000 employees, 2.6 billion revenues got a overnite fame of a fraudulant, tainted company for overstating profits to keep itself in business from 28% profitibility to actual figures of 3%.
A person of Narayan Murthy's fame makes a statement that he would not recruit Satyam employees as they are tainted. I wonder what did we employees do to earn such a reputation. Perhaps worked and contributed to the $ 2.6 billion revenue, which Mr. Raju used to buy lands all over Hyderabad/ Chennai/ Vizag / Bangalore. The irony is that the name "Satyam" which stood for truth is now Corporate India's biggest lie - "Mithyam".
I will admit there are some hiccups in our way of life, uncertainity/question marks, doubts do prevail. Gartner warns that Satyam may not survive the scandal and, even if it does, may not be able to retain staff or invest in customer engagements. I believe that "Satyam" name may dilute to oblivion but the company would emerge as a much stronger player, with greater involvment with its customer base and closer relationships and have a better professionally managed board which can take the company to the next level. Today when people talk about Accenture, do they think about Arthur Anderson. None do..
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