With the recent signing of an agreement between the Institute of Business Administration (IBA) and the International Finance Corporation, a World Bank subsidiary, the chant of encouraging good governance practices has certainly hit an octave note. At another level, it also indicates the seriousness with which the idea at the most basic tier of the corporate ladder; the business school, is to be pursued.
The concept being promoted under the banner of Good Governance Practices for the last few years is apparently quite simple – better transparency leads to improved professionalism which, in turn, means enhanced profits. Anyone who has anything to do with the corporate world, however, realises how tricky the task actually is because it involves changing mindsets and habits of a lifetime. By bringing business schools into the loop, those behind the effort hope to pick the future business leaders early and inculcate in them a sense of respect for the tested and tried corporate procedures.
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