Corporate Ethics: (Yojana September 2020) (Download PDF)

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Corporate Ethics

Corporate Ethics

Learning at mother՚s feet – learning and values instilled in the formative years shape the character and help form a personality and discern between right and wrong.

Honesty, Integrity, Moral Code of Conduct

  • Businessman – must not cheat customer with inaccurate weights or treating workers unfairly
  • Employee leverage an opportunity to maximize gains for oneself & to earn reward and recognition
  • Professionally managed organization strive for good governance and adhere to compliance measures
  • Besides profit – good corporate governance & ethical framework is must – compliance and pervasive ethical practices
  • Surrogate advertising (e. g. , alcohol promotion is banned in India – but if under another brand name indirectly recalling it)
  • Code of conduct – mix of rules to be adhered for allegiance and adherence (executives should practice ethics in daily dealings; middle layer are shock absorbers for organizational culture; Juniors look over seniors as role models in daily interactions)
  • Check mechanism (gifts mask for bribery) – timing of gift (festivity) ; presence of obligations; value of gifts; known to others (in open environment) ; Disclosed to organization; accountability in organization՚s book of account
  • What weaponize code of conduct – misbehavior, corruption, conflict of interest, discriminatory practice, and frauds
  • Example – scrutiny of medical bills of employees – claim was higher than actual expense
  • 2 employees hire cab for same distance for same work, but the bills produced are different
  • Ethics – consciousness of right and wrong and doing things rightly – morally right and socially responsible.

- Published/Last Modified on: December 23, 2020

Agriculture/Agro Industries, Govt. Schemes/Projects, Yojana

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