THE TEAM

NAME REAGAN CHETTIAR SHAILENDRA GUPTA SUJIT JAIN NEHA KHANDELWAL SUSHMITA SANGAI SHARMISTA SHETTY VIVEK SINGH ROLL NO 17 32 39 49 86 97 102

Entrepreneurship?
Entrepreneurship is an attitude. It's for people

who are willing to fail.

The American Heritage Dictionary defines an entrepreneur to be "a person who organizes, operates, and assumes the risk for business ventures. An entrepreneur is who creates value by offering a product or service. Possession of an enterprise, or venture.

UNETHICAL BUSINESS PRACTICES

Business ethics is when employers conform to the

approved standards of their profession. And unethical

business practices is the opposite, not conforming to approved standards.

Result of unethical business practices.

Bad press and lawsuits. Avoid unethical business practices. Honesty is the best policy.

 To handle problems properly. When mistakes are made, address them clearly,

apologize, do better, and move on.

Ignore problems with the products you sell. Refuse to accept blame. Monitor yourself and your employees.

Satyam means truth, but Raju, who resigned as chairman, owned up to creating a tissue of lies.

Satyam profile

 A leading global business and information technology

company, delivering consulting, systems integration, and outsourcing solutions. The companys 52,865* Associates excel in engineering and other streams. Satyam Computers has domain expertise in verticals

such

as

Automotive,
&

Banking

&

Financial

Service,
Telecom, and

Insurance

Healthcare, Media,

Manufacturing, Entertainment,

Infrastructure,

Semiconductors.
Satyam Computers' network is spread over 55 countries across 6 continents.

 Satyam serves over 558 global companies including over 163 Fortune 500corporations. In June 1991, Satyam Computers got its first Fortune 500 Client. Satyam went public in May 1992 and its issue was oversubscribed 17 times. In May 1997, Satyam became the first Indian IT Company to get ITAA Certification for Y2K Solutions. In 1999, Satyam Infoway became the first Indian Internet company to be listed on NASDAQ. In March 2001 Satyam became first ISO 9001:2000 Company in the world as certified by BVQI. In 2005 Satyam acquired 100% stake in Singapore based Knowledge Dynamics, a leading Data Warehousing and Business Intelligence solutions provider.

SatyamS Awards and achievements

award
Pre-2001 SEI CMM Level 5 Certification 100 Leading Pioneering Technology Companies 2001-02 National Award for Bright Ideas for Idea Junction IT Offshore Service Delivery Program named Industry Best Practice Security Standards Certification BS 7799 Best Global Data Warehousing Solution First IT Company in the World Certified under ISO9001:2000 2003-04 Ranked Among Top 10 Best Companies to Work for in India

Awarded by
SEI, CMU authorized Lead Assessor World Economic Forum

Indian National Suggestion Schemes Association Aberdeen Group International Information Security and Management Standards TDWI Bureau Veritas Quality International

Business Today MercerTNS Survey

Ranked Among Indias Top 10 Best Employers, 2004 and 2003 CNBC-Hewitt Best Employers Survey Best Risk Management and Solution Delivery Organization that Creates Fun and Joy at Work 2005-06 Winner, Corporate Citizen I award for Corporate Social Responsibility CMMI Level 5 Company-wide ISO 27001 Global Certification Business World , FICCI, and SEDF SEI, CMU authorized Lead Assessor BVQI , UK Gartner HT Power Jobs Awards

Forbes Top Asian Companies under US$1 billion AS 9100/EN 9100 (Aerospace Standards Certification) 2006-07 TDWD Best Practices Award Top Asian Knowledge Organization Third-Best Company to Work for in India Award for most innovative recruitment practices Recognition Of Commitment (ROC) Award

Forbes Magazine BVQI , UK TDWI (The Data Warehousing Institute) of North America Most Admired Knowledge Enterprise (MAKE) BT-Mercer-TNS RASBIC (Recruiting & Staffing Best in Class) The Institute of Internal Auditors, USA (IIA) Pegasystems Frost & Sullivan

2007
Partner Innovation Award for Anti-Money Laundering (AML) solution Competitive Strategy Leadership Award for Offshore Testing Market

Asian MAKE (Most Admired Knowledge Enterprise) Award

Award for "Strengthening Customer Relationships" Winner of the First Partner Innovation Award Ranked # 1 in the ASTD BEST Award First Asian company to rank in Training Magazine's Top 125 companies for learning 2008 Asian MAKE (Most Admired Knowledge Enterprise) Award UK Trade & Investment India (UKTI) Business Award for corporate social responsibility SAP Pinnacle Award 2008 under Service Ecosystem Expansion (Growth) category Award for Best IT Practices in IT Sector

Teleos, in association with KNOW Network

ITSMA (IT Services Marketing Association) Software AG/webMethods American Society for Training and Development (ASTD) Training Magazine

Teleos, in association with KNOW Network UKTI SAP Amity Business School, Noida, India

Introduction to raju
NAME: BYRRAJU RAMALINGA

RAJU BORN: SEPTEMBER 16, 1954

FOUNDER OF SATYAM COMPUTERS IN 1987 AND ITS CHAIRMAN UNTIL JANUARY 7, 2009

 Born on 16th September ,1954 in Garagaparru district of Andhra Pradesh in an agrarian family. His father Satyanarayana initially founded Satyam

Homes and Satyam Constructions which morphed into

Maytas Infra a few years back. He graduated with a B.Com degree from the prestigious

Andhra

Loyola

College

in

Vijayawada

and

later

completed his MBA from Ohio University.

Raju founded Satyam in 1987 after venturing earlier into other

businesses such as construction and textiles.

He started an IT company with 20 employees that obtained the contracts for IT projects, mostly from US companies textiles.

 Satyam rapidly developed and became a multinational company with thousands of employees spread over many countries. Was extremely simple by nature, was often seen a light blue coloured shirt with the Satyam logo embossed on it. Referred to his employees as Satyamites.

Was and adept networker attending conferences and

conventions and a voracious reader of management books.

Used to cultivate friendships with politicians in power

His wife Nandini and sons Teja and Rama keep a low profile and rarely interact with the media

 Raju showed a strong social orientation and has been furthering the cause of social transformation through Byrraju Foundation and EMRI[1]. Rajus greed and ambition to be in the race to be in the race for the top IT companies caused him to turn a blind eye to accounting frauds and siphon off company funds and ultimately land up in jail. Raju is currently held in Hyderabad's Chanchalguda jail on criminal charges including fraud, forgery, cheating, embezzlement and insider trading.

Rajus greed and ambition to be in the race to be in the race for the
top IT companies caused him to turn a blind eye to accounting frauds and siphon off company funds and ultimately land up in jail.

HIS ACHIEVEMENTS
Ramalinga Raju has won several awards and honors. These include: Ernst & Young Entrepreneur of the Year for Services in 1999, Dataquest IT Man of the Year in 2000, CNBC's Asian Business Leader - Corporate Citizen of

the Year award in 2002

E&Y Entrepreneur of the Year Award in 2007

Flaws in his leadership qualities

'Can do' mentality

Raju had no background in the new and growing field, but he had a strong 'can do' mentality of an entrepreneur. An example of his entrepreneurial skills can be seen in the first big international deal he made in 1991.

Today, Satyam has over 53,000 employees on its

payroll, spread across 60 countries.

Didn't keep up
But according to the New York Times, Raju did not keep up with his competitors. Over the years, the company faced competition

from other outsourcers, which were growing even

faster. Satyam was slow to transform, in part perhaps because of Raju's management style.

Too old - school

'He was very old-school. The company's

management,

was

'very

parochial

and

didn't

embrace change or implement anything differently'.

Customers had complaints. 'We are tired of being required to call up the top guy in India to get things resolved,' one Satyam client told Gartner in 2005.

Satyam Shakedown
Ramalinga Raju is worth US$1.3 billion ($2 billion)

and was head of giant Indian software company,

Satyam. Falsified about US$1 billion on Satyam's books and vastly inflating the company's profit margins. It was a huge fall from grace.

The scam

The Raju empire

Satyam Chairman Ramalinga Raju and his family own 43 other companies, besides Satyam, Maytas Properties and Maytas Infra. Satyam Computers (Market capitalisation: RS 10,930 crore) reported a turnover of Rs 8,473.49 crore at the end of March 2008. The net profit after tax was Rs.1,687.89 crore, a growth of 20.2 per cent over the previous financial year. Maytas Infra (Valuation: RS 2,824 crore) a turnover of Rs 1,660 crore in the last financial year with a profit after tax of nearly Rs 100 crore. Maytas Properties (Valuation: RS 6,240 crore or $1.3 billion) a land bank of 6,800 acres Infinite India Investment Management, a realty fund jointly promoted by JM Financial and US-based SRM Investments invested Rs 600 crore in February holds undisclosed stake.

Nine commandments

 If the company claims it has cash on its hand ,that should be enough signal for auditors to check whether the cash in hand is available or not. Bank balance has been invested properly or not, where all it has been invested-MFs etc.

Whether the internal control mechanisms are in

place. Scrutinize if the company has huge creditors and huge balance at the same time.

 Look into why the company is not taking benefit

and negotiating the price. Are the profit margins abnormal as compared to

industry norms
Check if there has been a quantum jump in wealth Carry out an overall ratio analysis of figures in the organisation, previous years, similar industry

Physical verification of assets owned

company

by the

New Board of Directors Appointed at Satyam

Satyam Computer Services Limited (NYSE: SAY) on January 11, 2009 said that it welcomes the Ministry of Corporate Affairs appointment of three distinguished members to a newly formed board of directors for the company.

Mr. Deepak S. Parekh, Chairman of HDFC

Mr. Kiran Karnik, former President of NASSCOM

Mr. C. Achuthan, Director at the NSE, former Member of SEBI, and former Chairman of Securities Appellate Tribunal

CONCLUSION