MANAGEMENT OF ETHICS IN INDIAN INDUSTRY

Presented by Isha : 92016 Lokesh : 92063 Ravi sarup : 92079 Neelendra : 92066 Kishor : 92062 Sandeep : 92071

Vishnugupta?? Kautilya?? Chanakya

Minister in the kingdom of ChandraguptaMaurya during 317-293 B.C.

Explained his views on State, War, Social Structure, Diplomacy, Ethics, Politics and Statecraft very clearly in his much celebrated book Arthashastra.

Arthashastra
How
How

talks about

to expand their kingdom multifold increase market share.

to protect the kingdom against powerful enemies - develop a strategy against competitors. develop winning strategies, habits and practices based on ethics & values.

How

Arthashastra

talks about

Kautilya gave an insight to balance short term/long term objectives and strategies for the business.
Kautilya's Arthashastra is unique in emphasizing the imperative of economic growth and welfare of all in the society as well as an organizational set-up. He believed that ethical values pave the way to heaven as well as to prosperity on the earth, that is, have an intrinsic value as well as an instrumental value. He extended the conceptual framework to deal with conflict of interest situations arising from the emerging capitalism. Kautilya tried to integrate ethics and economics together in his view. Thus, Kautilya has given significant contribution to the field of ethics which is relevant to present business environmental set-up.

It has been said that-

"So long as the Human mind remains filled with its negativities of jealousy, ego, hatred and over indulgence, so long as humanbeings require self control, discipline and management., 'Kautilaya's Arthashastra' will remain relevant."

Be sure you are right, then go ahead.

Davy Crockett (1786 1836)

Ethics
Dictionary meaning : A system of moral principles, rules and conduct. The origin is from a Greek word Ethos which means character. Ethics is defined as the ability to distinguish between right and wrong and to act accordingly.

Ethics

Ethics originates from

Religions Social environment Parents and Teachers

Ethics is degree of faith in oneself. Ethics is essentially a matter of concern of inner contents of individual. Ethical person is the person of integrity and character who brings the same for the organization.

Ethics in Business
Ethics in business is : The dos and donts by the business users A set of principles a business man ought to follow. The business should be conducted according to recognized moral standards. Few unethical elements in the present day business are:
Cheating Stealing Lying Bribing Corrupting etc.

Corporate Ethics
Based on principles of integrity and fairness Ensures a fair and responsible behaviour of the organization as a whole Focuses on

Stakeholders and employees. Quality of product and services Customer satisfaction. Community and environment

Corporate Ethics Implementation

Define the framework of the acceptable behavior. Create benchmarks for self evaluation. Enhance sense of responsibility towards society. Create transparency in the business activities. Foster higher standards of business ethics. Comply with government laws and norms.

Who is responsible for ethics in the company?

Everyone

Ethics: Management Perspective

What is included in corporate ethics? Purpose of the Business People Society Government Environment
Factors to be kept in mind Involvement of the Senior Management Involvement of employees Picking the tried and tested model

Management of ethics : Function of Board of Directors

Accountable for corruption or impropriety in a company. Boards decisions on resource allocation, performance targets or promotions always trump official statements of ethical values. Whistleblowers are to be given protection Influence the pressures which the CEOs handle in managing ethics

TATA Steel Management of Business Ethics (MBE) Programme

July is celebrated as Ethics Month for reinforcing employee involvement and passion in the (MBE) Each employee take Ethics Pledge Board of Directors to adopt and implement the Whistle Blower Policy Policy encourages the employees to raise their concerns without fear Policy also provides for protection of the Whistle Blower by a Whistle Blower Protection Committee Concerns received during the year were resolved expeditiously

TATA Steel Management of Business Ethics (MBE) Programme

A Gift Policy was adopted by the Company Various steps were taken to create awareness amongst the employees about this policy The salient features of the Policy were also communicated to other stakeholders like vendors, contractors etc A Central Forum for Ethics was formed to promote and uniformly deploy the MBE Process in associate companies

Ethics Management @ NDTV

Has a central Ethics Committee headed by the chief Managing Editor. It has a elaborate editorial procedures to maintain editorial standards fortify NDTV's commitment to credible reporting The Editorial Board headed by the chairperson The aim of the Editorial Board
Take regular steps and pre-emptive action on issues arising from editorial direction Focal point for answering any queries or complaints on editorial matters

Ethics Management @ NDTV

A Whistleblower policy to help employees to raise any concerns and protection under the policy A gifts and entertainment policy

Anti-sexual harassment policy for making the workplace more suitable for everyone. A disciplinary procedure which helps improve employee behavior and help in the growth of the company

Ethics Management in Construction Industry

Concerns Bid shopping

No Payments Issues Inflated Claims, False Claims Threats

Ethics Management @LANCO

Focus on negotiating, using such delivery methods as design-build and integrated project delivery Competition & Fair Dealing Policy Clear vision articulated by the senior management Create ethics as a personal success measurement. Training: set clear policies at the site level, HO level.

Principals for ethically run Business

Principle 1 Productivity is much more important than profitability Principle 2 The customer is not sheep that can be sheared Principle 3 The buyer's domain is more important than the middlemen's domain Principle 4 Be diplomatic with your competitors

Importance of Ethics in Business

Ethics corresponds to basic human needs. It creates credibility of the company within society. It gives transparency in the management of the company. It increases the goodwill among various stakeholders like vendors, suppliers and above all customers It increases customer loyalty.

Conclusion:

In order to win the game, you need to plan. To plan information is imperative. Get it through legal and ethical means. Its fact that to win consistently, you need to play by rules. In life play hard, play fair. In life and Business
Ethical Standard Must be Set Ethical Standard Must be Met.