Ethics: Its Relation with Indian Scriptures and Business
Ethics: Its relation with Indian Scriptures and Business Sachin Kapoor1 Dr. Navkiranjit Kaur Dhaliwal2
Introduction
“Business ethics,” a subject that for years has been low profile in business publications and business school curriculum, has suddenly gained status. The word “ethics” was once considered irrelevant by corporate loyalists, but now discussion of it is increasingly seen as not only important but also as critical to a company’s success. Till the 1990,s Indian corporate regarded business ethics as a mere extension of philanthropy. Although corporate giants like Tatas and Birlas contributed generously to philanthropic causes, it was only after the entry of MNCs in the Indian market that the definition of business ethics has broadened from the concept of philanthropy. The word ‘ethics’ is derived from the Latin word ‘ethicus’ and the Greek word ‘ethikos,’ meaning character or manners. This meaning can also be extended to imply systematizing, defending and recommending concepts of right and wrong behaviour. Ethics is thus said to be the science of moral, moral principle and recognized rules of conduct. The character of a man is expressed in the terms o this conduct or actions. These actions can be ‘good’ or ‘bad’; ‘right’ or ‘wrong’; ‘moral’ or ‘immoral’. However, they may be amoral as well, which means that they are beyond the sphere of morality. For instance, a petrol bunk owner engaged in selling both petrol and diesel to the customers for a profit is an example of amoral conduct of business. But, if the owner indulges in mixing petrol with kerosene and sells it to customers, then this act is said to be immoral. Thus, ‘right,’ ‘wrong,’ ‘moral,’ and ‘immoral’ are termed as moral judgments. Moral judgments require moral standards by which one judges human conduct. Ethics can thus be defined as ‘the science of character of a person expressed as right or wrong conduct of action. Philosophers viewed ethics as
Introduction
“Business ethics,” a subject that for years has been low profile in business publications and business school curriculum, has suddenly gained status. The word “ethics” was once considered irrelevant by corporate loyalists, but now discussion of it is increasingly seen as not only important but also as critical to a company’s success. Till the 1990,s Indian corporate regarded business ethics as a mere extension of philanthropy. Although corporate giants like Tatas and Birlas contributed generously to philanthropic causes, it was only after the entry of MNCs in the Indian market that the definition of business ethics has broadened from the concept of philanthropy. The word ‘ethics’ is derived from the Latin word ‘ethicus’ and the Greek word ‘ethikos,’ meaning character or manners. This meaning can also be extended to imply systematizing, defending and recommending concepts of right and wrong behaviour. Ethics is thus said to be the science of moral, moral principle and recognized rules of conduct. The character of a man is expressed in the terms o this conduct or actions. These actions can be ‘good’ or ‘bad’; ‘right’ or ‘wrong’; ‘moral’ or ‘immoral’. However, they may be amoral as well, which means that they are beyond the sphere of morality. For instance, a petrol bunk owner engaged in selling both petrol and diesel to the customers for a profit is an example of amoral conduct of business. But, if the owner indulges in mixing petrol with kerosene and sells it to customers, then this act is said to be immoral. Thus, ‘right,’ ‘wrong,’ ‘moral,’ and ‘immoral’ are termed as moral judgments. Moral judgments require moral standards by which one judges human conduct. Ethics can thus be defined as ‘the science of character of a person expressed as right or wrong conduct of action. Philosophers viewed ethics as
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