Renowned director of Rupus Global Limited, Dr. Kannan Vishwanath, recently addressed a distinguished audience of industry veterans at the Pharma Summit & Awards 2021 organized by the Latvian Academy of Sciences. His enlightening speech shed light on the impact of COVID-19 on international business, with a special emphasis on pharmaceutical products, vaccines, and the opportunities they present for human well-being. Dr. Vishwanatth also shared his insights into the changing dynamics of business accountability, drawing on Milton Friedman's perspective from half a century ago.
Globalization Challenges Faced by Europe and Baltics in the 21st Century:As part of the IV Economic Forum, which aimed to analyze the challenges faced by Europe and the Baltic region during the globalization era, Dr. Kannan Vishwanatth addressed a captivated audience of industry professionals. The primary objective of the forum was to explore the reasons, consequences, and challenges associated with globalization in the 21st century and propose science-based and practical solutions to enhance welfare in respective countries.
During his address, Dr. Kannan Vishwanath outlined Rupus Global Limited's approach to the new year, emphasizing a commitment to increased technology innovations and broader market access. By leveraging the power of technology, the company aims to drive forward-thinking strategies and optimize its operations to meet the evolving needs of the global market. With a focus on innovation and market expansion, Rupus Global Limited aims to create new opportunities and provide enhanced value to its stakeholders.
In his thought-provoking speech, Dr. Kannan Vishwanatth delved into the significant changes that the COVID-19 pandemic has brought to international business. Highlighting the importance of strong leadership during crises, he acknowledged Milton Friedman's assertion from half a century ago that the sole responsibility of business is to maximize profits within legal boundaries. Dr. Vishwanatth noted that this short-term approach had gained traction in business practices, influencing decision-making even during the pandemic.
As the world grappled with the unprecedented challenges posed by COVID-19, Dr. Kannan Vishwanatth acknowledged the need for a more comprehensive understanding of business accountability. He challenged the traditional notion that profit maximization should be the sole purpose of businesses and stressed the importance of adopting a broader perspective that includes social responsibility and long-term sustainability. Dr. Vishwanatth argued that the pandemic has underscored the significance of considering the welfare of humanity and the well-being of societies when making business decisions.