Alacrity Housing - Ethics First


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Case Details:

Case Code : CGOV002
Case Length : 12 Pages
Period : 1990 - 2001
Pub Date : 2001
Teaching Note : Available
Organization : Alacrity Foundations Pvt. Ltd.
Industry : Housing and Construction
Countries : India

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Please note:

This case study was compiled from published sources, and is intended to be used as a basis for class discussion. It is not intended to illustrate either effective or ineffective handling of a management situation. Nor is it a primary information source.

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Excerpts

Background Note

Alacrity Foundations Private Limited (Alacrity) was founded in 1978 by Amol Karnad (Karnad) . Karnad believed that personal dignity and integrity were vital for an individual's spiritual progress in life, and that work was the medium for the true expression of these qualities. Karnad's views on the dignity and glory of the human being were influenced by philosopher and novelist Ayn Rand. His views on organisation and management by Peter Drucker . He set up a management consultancy to test his ideas. The consultancy showed mixed results. Though clients seemed happy and did not mind paying a fee to listen to the recommendations, they were not very enthusiastic when it came to implementation...

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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