Ajay Piramal Quotes
Sometimes, we get mixed up when we say that profit is not important for stakeholders. Oxygen is not the reason a person lives. But it is essential to have oxygen, although it's not the only reason for a person's existence. It is similar for profit.
Referring to the oil companies:
At the time this was generally true for most businesses. However, in a modern economy, there are other ways. Increasing volume, automation, innovating products and services to get premium prices naw are standard techniques.
The company’s profits were $5.7 billion--$45,000 per employee. He then imposed a 6 year wage freeze on long term employees and cut the wages of new employees. His compensation has increased 80 percent in the last 2 years. Most large corporation CEOs do not share this need for “unlimited” profits. Most set a target and then try and get the corporate team to reach or exceed it.
Prior to Baxter the issues in prosecuting an anti-trust case were whether or not the company met the size or market share criterion for application of the anti-trust law and whether the company had committed any of the prohibited acts. Baxter added another hurdle. Namely, that the prosecution must make economic sense for the company, the consumer and/or the nation. Many illegal, immoral and unfair antitrust practices were not prosecuted if there was no economic benefit to doing so. Critics of the new policy argued that nowhere in the language of the anti-trust legislation that prosecution should not take place in the absence of demonstrable economic benefit.
Ajay Piramal is an Indian billionaire industrialist, and the chairman of the Piramal Group, a conglomerate with interests in pharmaceutical, financial services, real estate, healthcare analytics and glass packaging. Piramal Enterprises has 3 major businesses – Pharma, Financial Services and Healthcare Insights & Analytics.