Alacrity Housing - Ethics First
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Case Code: CGOV002 Case Length: 12 Pages Period: 1990 - 2001 Pub Date: 2001 Teaching Note: Available |
Price: Rs.300 Organization: Alacrity Foundations Pvt. Ltd. Industry: Housing and Construction Countries: India Themes: Coporate Governance |
Abstract Case Intro 1 Case Intro 2 Excerpts
Excerpts
An Honest Organization
The Indian construction industry was so corrupt that it appeared to be impossible for a construction company to survive without giving bribes and or dealing in black money. The companies in the industry required large sums of money to purchase property and building materials. In addition, to obtain licenses, they had to deal with corrupt and bureaucratic government officials. Following short cut routes, speeding up processes through bribes, and accepting sub-standard materials seemed to be common practices in the industry...
Has Alacrity's Honesty Paid Off?
In a decade, Alacrity had revolutionized the approach to urban housing and, inspite of difficulties, it seemed to have succeeded in bringing about a sense of organization, discipline and stability in the housing sector. By 1997, Alacrity Housing had emerged as the single largest builder of residential apartments in Chennai, Tamilnadu (Refer Table I, Exhbit III, and Exhibit IV). In the process, it had proved that ethics and economics were not mutually exclusive...
Exhibits
Exhibit I: NAREDCO's Code of Ethics for Real Estate Developers
Exhibit II: Propositions on Which Alacrity's Corporate Mission Rested
Exhibit III: Alacrity's Track Record
Exhibit IV: Alacrity Housing Profit & Loss Account (1995-98)
Exhibit V: Alacrity's Pledge
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