Ethical Practices for Indian Business
ETHICAL PRACTICES FOR INDIAN BUSINESSES: THE STRATEGY TO ACHIEVE GLOBAL SUCCESS
Abstract:
Business ethics is not codified but yet literature’s on the subject matter has developed to extent that it has made its identity visible in corporate world and business at large. With the rapid pace globalization is gaining momentum it is must for organizations operating all over the world to adopt ethics in trade. Since, the ethical practices are culture specific, the Indian business ethics practice is also found to be differentiated on the basis of nature of business and demographic location of business. This paper concentrates upon ethical business practices to be adopted by the MNC’s of Indian origin for achieving success on a global platform. Through this paper an attempt has been made to identify some of the best ethical practices, Indian MNCs should adopt while operating in foreign land and in the home country. The paper also brings in light real examples of ethical practices from the Indian corporate that set lessons for other organizations operating worldwide.
Keywords: Business ethics, Corporate social responsibility, Indian MNCs, globalization
“When we transform ourselves, the world will be transformed. When we reform ourselves, the world will be reformed.” Pandit Shriram Sharma Acharya (Founder Gayatri Pariwar)
Business, Globalization and Ethics:
Business itself is as old as civilization and the most significant feature of business today is globalization. Globalization is a process of interaction, integration and interdependence among people, corporations and government of distinct nations. The driving force behind globalization is international trade, investment and rapid growth in information technology.Globalisation has effect on economy, environment, culture, political system, prosperity and on human physical well being in societies around the globe. Ethics continuous to constitute a part of business since the time business existed in its
Abstract:
Business ethics is not codified but yet literature’s on the subject matter has developed to extent that it has made its identity visible in corporate world and business at large. With the rapid pace globalization is gaining momentum it is must for organizations operating all over the world to adopt ethics in trade. Since, the ethical practices are culture specific, the Indian business ethics practice is also found to be differentiated on the basis of nature of business and demographic location of business. This paper concentrates upon ethical business practices to be adopted by the MNC’s of Indian origin for achieving success on a global platform. Through this paper an attempt has been made to identify some of the best ethical practices, Indian MNCs should adopt while operating in foreign land and in the home country. The paper also brings in light real examples of ethical practices from the Indian corporate that set lessons for other organizations operating worldwide.
Keywords: Business ethics, Corporate social responsibility, Indian MNCs, globalization
“When we transform ourselves, the world will be transformed. When we reform ourselves, the world will be reformed.” Pandit Shriram Sharma Acharya (Founder Gayatri Pariwar)
Business, Globalization and Ethics:
Business itself is as old as civilization and the most significant feature of business today is globalization. Globalization is a process of interaction, integration and interdependence among people, corporations and government of distinct nations. The driving force behind globalization is international trade, investment and rapid growth in information technology.Globalisation has effect on economy, environment, culture, political system, prosperity and on human physical well being in societies around the globe. Ethics continuous to constitute a part of business since the time business existed in its
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