– The Indian Way
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Ethics and It’s Genesis
The ancient philosophers, they grappled with three areas of enquiry – Satyam, Shivam, Sundaram – Truth, Goodness and Beauty. From these came out logic, ethics and aesthetics. While logic tries to answer the questions regarding something being true/ correct, aesthetics tries to judge a piece of beauty; Ethics address goodness – whether what we are doing is right.
To put it simply, business ethics is ethics applied in a business context. Trends in Business Ethics
A survey conducted by Institute of Leadership & Management and Management Today magazine in Britain revealed that Employers put financial goals above ethical considerations and organisations operated less ethically than it did three years ago. Building Ethical Business Organization
In Indian context, Bhagvad Gita Krishna outlined to Arjuna a system of ethics that has withstood the test of time. Krishna tells Arjuna not only how to build character but also the root cause of ethical failure and how to avoid it.
We need to have a multi-pronged approach to create an ethical organization. 1. Creating a structure and system to enforce ethical behaviour 2. Creating a system of reward within the organization to propagate ethical behaviour 3. Defining the ethos and principles of the organization - Consciousness Approach to Management
Ethics in Business
Ethics or simple honesty is the building blocks upon which our whole society is based, and business is a part of our society, and it's integral to the practice of being able to conduct business, that you have a set of honest standards. And it's much easier to do business with someone when you look them in the eye and say, "This is what we're going to do," and you understand what you each mean, and you can go away and get it done. Kerry Stokes Chairman, Seven Network (Australian Television Station) Ethics and It’s Genesis
Ethics is delving into the understanding whether what we are doing is right. If we look into history, the ancient philosophers, they grappled with three areas of enquiry – Satyam, Shivam, Sundaram – Truth, Goodness and Beauty. From these came out logic, ethics and aesthetics. While logic tries to answer the questions regarding something being true/ correct, aesthetics tries to judge a piece of beauty; Ethics address goodness – whether what we are doing is right. Ethical judgement comes from the moral standards of the society. Why does the society have moral standards – because they are for general well-being of the society. It lays down a set of norms of behaviour that are more than laws. The moral standards have certain degree of permanence. Moral standards are not established by any legislative body but they evolve through a process of consensus in the society and therefore have greater degree of acceptance and adherence although most often than not they are unwritten. They also guard the society against blatant exercise of self – interest. These, therefore, are expected to lead to a better society.
Ethical values develop since our childhood. Our parents are the first ones in our lives to voice, set and demonstrate ethical boundaries for us. They consider it as one of their critical jobs to instil a strong sense of right and wrong in their children. Not just their telling, how they behave has an even stronger impact as children absorb their actions for developing their sense of ethics. The customs and traditions of the society we live in become ingrained in the psyche of the children and thus develop the socially acceptable ethical norms. As the child grows, his ethics is further shaped by his experience of life and feelings.
What is Business Ethics
To put it simply, business ethics is ethics applied in a business context. Business...