Ethics plays a vital role in shaping moral health of a person, a society, a government, or a corporate. Laws, and legislation however much necessary, will never fashion the attitude and character of a person, but ethics will. The sense of accountability to all stake holders, fair treatment to all in interpersonal relationships, integrity, and honesty are the parameters that characterize ethical behavior.
Business sustainability demands ethical conduct; otherwise, it will fail. Famous Satyam scandal in 2009 is a shining example of, how business fails due to unethical business practices - Satyam's accounts had been overstated to the tune of 7000 crore rupees or 1.5 Billion US Dollars over several years. According to Jamsetji Tata, business must operate in a way that respects the rights of all its stakeholders and creates an overall benefit for society - this is ethical business conduct.
Yet, the standards of conduct in personal and professional life can be different for some people. A person who gives respect to his acquaintances may not give respect to his peers at work place; however, it is an irrational behavior, which is not desired.
To normalize the differences among individuals’ behavior in business, to make ethical behavior measurable, and to take corrective actions accordingly, institutions usually have an Ethics committee to evaluate and maintain their professional code of conduct. When a business decision provokes a conflict between personal ethics and professional ethics, one can refer the standards, and various caselets available for ready reference, and take an appropriate decision.
My Personal Ethics Vs Professional Ethics:
My work-life spans across two organizations, MindTree and Accenture. There have been no instance where my personal ethics was in conflict with my professional ethics till now. To me there is no difference between personal and professional ethics. I believe that...