Why the Digital Age Demands Decision Makers to be Like Elite Marines and Zen Monks
February 7, 2025
Bankruptcy is one of the natural states which a company may find itself in. Entrepreneurship is primarily about taking risks. When companies take risks, some of them succeed, whereas others fail. Hence failure is a natural part of the business. However, many critics of bankruptcy laws believe that there isn’t a need for an elaborate […]
What is the Wirecard Scandal all about and Why it is a Wakeup Call for Whistleblowers Anyone who has been following financial and business news over the last couple of years would have heard about Wirecard, the embattled German payments firm that had to file for bankruptcy after serious and humungous frauds were uncovered leading […]
How Modern Decision Makers Have to Confront Present Shock and Information Overload We live in times when Information Overload is getting the better of cognitive abilities to absorb and process the needed data and information to make informed decisions. In addition, the Digital Age has also engendered the Present Shock of Virality and Instant Gratification […]
Geopolitics, Economics, and Geoeconomics In the evolving global trading and economic system, firms and corporates are impacted as much by the economic policies of nations as they are by the geopolitical and foreign policies. In other words, any global firm wishing to do business in the international sphere has to be cognizant of both the […]
In the previous article, we have already come across some of the reasons why the government should not encourage funding of stadiums that are to be used by private franchises. We have already seen that the entire mechanism of government funding ends up being a regressive tax on the citizens of a particular city who […]
While the NGO or the Non Profit sector is founded on the premise that they would propagate sustainable and equitable forms of development, the concept of internal accountability and internal structures of governance needs to be discussed as well.
The point here is that NGO’s need to evolve mechanism for the practice of ethics and professionalism within to actualize change without.
In other words, before they preach these terms to the external world, they need to practice them internally. Hence, it becomes imperative for NGOs to be ethical and professional in their dealings and to observe strict codes of conduct within themselves. Of late, there have been many instances of wrongdoing within the NGO sector and hence, the time for accountability and transparency within has arrived.
Any discussion of NGOs often begs the question as to what they are doing internally.
In other words, as the saying goes, Caesar’s wife must be above suspicion and hence, the NGOs must be squeaky-clean first. In India, there have been several cases of financial wrongdoings by the NGOs and there have been cases where misappropriation and embezzlement of funds have been reported.
In this context, it is useful to highlight what happened to the United Nations wherein several of its bodies were found to be mired in corruption. Right from the food for oil scam to the misappropriation of funds by organizations like UNICEF and UNESCO, the UN has had to suffer reputational losses because of these cases.
The point here is that the NGO sector is especially watched for any wrongdoing since it proclaims lofty notions of justice and equity.
Apart from this, the fact that the NGO sector does not have the scale or the size of the operations to have rigorous internal controls needs to be discussed. While the organizations mentioned above failed despite internal controls, many of the NGOs are simply functioning without any internal democracy or internal code of conduct. Indeed, it has been proved that dubious funding and acting as a conduit for black money and supporting money laundering are rampant among NGOs. Hence, there cannot be a better case for scrutinizing the activities of the NGOs and ensuring that they are above board in all respects.
Recently, the protests against the Kundankulam Nuclear Plant were alleged to have been motivated by Western governments using the Indian NGOs as a conduit. This kind of behavior must be avoided and a robust control system that does not abuse the goodwill that NGOs have must be put in place.
The point here is that for society, the NGO sector is a beacon of hope and hence, the NGOs must not take society for granted. Neither should they hoodwink the government by hiding their sources of funding and operational measures.
Finally, in these times, when unethical behavior among all sectors of society is rampant, the temptation to follow the herd is strong and hard to resist. This applies to the NGO sector as well and given the large amounts of money that is flowing into the sector, the stakes are indeed high. In conclusion, one must practice what one preaches and hence, the NGO sector should have stringent codes of conduct that are ethical and professional in nature.
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