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Professional Ethics For Inclusive Growth

Posted by Employable Bootcamp on May, 10, 2023

"Professional ethics towards productivity inclusive growth in MNC’s and Domestic market"

An Enterprises are major players in today’s global economy. Socioeconomic development is influenced through their investment and sourcing decisions, as well as their overall corporate policies and practices, which take into account their broader role and responsibility in society – corporate social responsibility (CSR). Developing countries are attracting a significant portion of global foreign direct investments. Governments of such countries often compete fiercely for attracting multinational corporations (MNCs) in the expectation of the advantages they will bring to their economies, often prioritising economic goals over fundamental human rights. For a long time, economists have analysed the economic impacts of MNCs, while a parallel strand of work in political science, business ethics and international law investigates the repercussions of MNC operations on human rights. Despite the significant relatedness and complementarities, these two bodies of literature have so far poorly interacted.

The word ethics is derived from the Greek ethos, meaning customary or conventional. Ethics is built on good work practices & what is right, it provides general guidelines on good behaviour/conduct of individuals, group, and organization as a whole. Ethics determiners what is right or wrong and choosing what is right. Ethics governs the behaviour and conduct of individuals/groups in the workplace. Ethics is one of the hallmarks of a well-run Company. Ethics can re assure investors/stakeholders about the Company’s approach to its non-financial risks. Ethics also help to protect/enhance Corporate/business reputation. Example, corporate image/branding,). To be ethical in the sense of ethos is to conform to what is typically done, to obey the conventions and rules of one’s society and religion. Ethics involves a discipline that examines good or bad practices within the context of a moral duty. Moral conduct is behaviour that is right or wrong. Business ethics include practices and behaviours that are good or bad. Ethics is defined as a theory or a system of moral values an ethic of service is at war with a craving for gain. Ethics may also be defined as the branch of philosophy that tries to determine the good and right thing to do, choices regarding right & wrong.

Ethics is based on a set of moral and ethical values. These values must be absolute - that is, you must take them seriously enough to override any human rationalization, weakness, ego, or personal faults. When all else fails, you will always look back to these core values to guide you. Unfortunately, life is not that easy and there's always disagreement about what values should reign supreme.

The Tata Group has always sought to be a value-driven organization. These values continue to direct the Group's growth and businesses. The five core Tata values underpinning the way we do business are:

Integrity; Understanding; Excellence; Unity; and Responsibility.

SAIL (Steel Authority of India) is to be a respected world Class Corporation and the leader in Indian steel business in quality, productivity, profitability and customer satisfaction. Maruti Udyog: We believe our core values drive us in every endeavour: Customer obsession; flexible and first mover; innovation and creativity; networking and partnership; openness and learning. ONGC: To be a world-class Oil and Gas Company integrated in energy business with dominant Indian leadership and global presence.

The Spirit of Wipro is the core of Wipro. Spirit is rooted in current reality, but it also represents what Wipro aspires to be – thus making it future active.

Reliance Industries: Reliance believes that any business conduct can be ethical only when it rests on the nine core values of: Honesty; Integrity; Respect; Fairness; Purposefulness; Trust; Responsibility; Citizenship; and Caring.

Infosys Technologies is a globally respected corporation that provides best-of-breed business solutions, leveraging technology, delivered by best-in-class people and achieves its objectives in an environment of fairness, honesty, and courtesy towards our clients, employees, vendors and society at large.

Ethical Values of Johnson & Johnson include: high quality and prompt service at reasonable price with a view to making fair profit; to respect individuality of employees keeping in mind their job security and means of fulfilling family responsibility; Informal communication; Just and ethical action; and to encourage community service. Ethical values of

IBM include: Respect for individual; IBM anthem; Devotion to customers; Lifetime employment; and Open-door program. For IBM Ethics matters because it makes good business sense to "do the right thing". Additionally good corporate ethics results in: Attracting better talent;

Retaining employees; Attracting new customers; Retaining customers; Positive effect on Corporate Reputation.

In the 21st century India, all businesses can afford to pay all due taxes and avoid corrupt practices while still making good profits needed for survival and growth. This is a fact that has to be understood clearly by all.

They have a large number of good examples of successful and ethical businesses in India to emulate; and their number is increasing due to the changed expectations of multinational corporations from their Indian vendors and partners.

Only a firm resolve by the top management can make it possible for a business organisation to behave ethically in its interface with the government. The top alone can decide not to evade taxes and simultaneously find ethically right ways of making the business grow.

Individuals and businesses can manage to get their due rights without bribing if they opt for so doing. A substantial number of small, medium and large businesses in India avoid such corrupt practices today by simply adhering to the rules and regulations correctly. Thereby they make themselves non-vulnerable to undue pressures from government functionaries.

Use of information technology has made it possible to bring in great transparency in systems and has eliminated corruption at many levels. India is marching internally towards better democracy, improved governance, fewer unduly restrictive laws and simplified tax regime. Externally, India is getting increasingly integrated with the businesses and institutions from the advanced countries that are far ahead in ethical behaviour in business. The external as well as the internal pressure for businesses to behave ethically also in their interface with the government are increasing.

In current scenerio's the employer's are willing to adhere to ethical standards.

This entry was posted on May, 10, 2023 at 08 : 58 am and is filed under Recruitment Partner. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response from your own site.

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