Business ethics: an Indian perspective/ A.C. Fernando.

PART 1: THEORIES UNDERLYING THE ISSUES AND PROBLEMS
OF BUSINESS ETHICS
Chapter 1: Business Ethics: An Overview
Introduction - ... i ;; f' it;; M-> i
Principles of Personal Ethics «rir^ v -,.' • • ■
Principles of Professional Ethics . ' ! ■ ' , ^
What is Business Ethics? ■ ■■ .. .••.r ' C -,
What is Not Business Ethics? • - -/i-s -'
Code of Conduct and Ethics for Managers .
Evolution of Ethics Over the Years : •
importance and Need for Business Ethics
Significance of Business Ethics
Honesty, integrity and Transparency are the Touchstones of Business Ethics
Values and Ethics in Business
Values, Ethics and Business Strategy
Distinction Between Values and Ethics .
' *{*» - •
Roots of Unethical Behaviour ■
V\/hy Does Business Hove Such a Negative Image? . 'i
Why Should Businesses Act Ethically? ^ .
Ethical Decision Making
How Corporations Observe Ethics in Their Organizations? ■' ■ ' > ■'
Changing Business Environment and Ethical Challenges
Corporate Governance Ethics •
How Ethics Con Moke Corporate Governance More Meaningful? ■
Benefits from Managing Ethics in Workplace _
Characteristics of an Ethical Organization
Recognizing Ethical Organizations
CASE STUDY: Infosys Technologies—the Best Among Indian Corporations
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Chapter 2: Concepts and Theories of Business Ethics
Introduction
Definitions of Ethics
Personai Ethics and Business Ethics
Morality and Law
How Are Moral Standards Formed?
Religion and Morality
Morality, Etiquette and Professional Codes
Management and Ethics
Normative Theories
Ethical Theories in Relation to Business
Some More Normative Theories of Business Ethics
Teachings of the Church
Indian Ethical Traditions
CASE STUDY: Biocon—India's Own Home-Grown Biotech Company
Chapter 3: Ethical Dilemmas, Sources and Their Resolutions
What Is an Ethical Dilemma?
How Ethical Dilemmas in Business Affect the Stakeholders?
Corporate Dilemma Over Ethical Behaviour
Sources of Ethical Problems
Why Does Business Have a Negative Image?
Why Businesses Should Act Ethically?
How Corporations Observe Ethics to Reduce Dilemmas?
Code of Personal Ethics for Employees
How to Create an Ethical Working Environment?
How Does a Company Establish Ethical Standards?
Walton's Six Models of Business Conduct
How to Resolve on Ethical Problem?
How to Resolve Ethical Dilemmas
CASE STUDY: Hil's Folly: Mercury Spill in Kodoikanal
Chapter 4; Ethical Decision Making in Business
introduction
Ethical Models that Guide Decision Making
Which Approach to Use?
Ethical Decision Making with Cross-Holder Conflicts and Competition
Applying Moral Philosophy to Ethical Decision Making
Kohlberg's Model of Cognitive Moral Development
Influences on Ethical Decision Making
Personal Values and Ethical Decision Making
Corporate Values and Ethical Decision Making
Role of Corporate Governance in Ensuring Ethics in the Workplace
A Framework of Ethical Decision Making
ThP Process of Making Good Ethical Decisions
CASE STUDY Global Trust Bank: The Bank that Went Bust
Chapter 5: Globalization and Business Ethics
Growth of Global Corporations
Factors Facilitating Giobalization
Doing Business in A Diverse Worid
Role of Multinational Corporations
Excessive Economic Clout
Current Issues—Multinational Corporations
International Business Issues
Benefits of MNCs to the Host Nation
Disadvantages of MNCs to the Host Countiy
International Codes of Business Conduct
The Limits of Voluntary Approach
Coux Round Table: Principles for Business
Challenges of Globalization in the Context of Growing Market
Economies
Public Awareness and Scrutiny
Technological Challenges and Opportunities
The Physical Environment
The Social Environment
Key Global Issues for Business
Corporate Governance is a Prerequisite for Globalization
Global Compact
CASE STUDY: Sterlite: Using Money Clout to Maximum Advantage
Chapter 6: Creating an Ethical Organization
Introduction
The Problem Is Not with Corporations, but the People Who Ruh Them
Fat Pay Did Not Ensure Better Governance
Fraudulent Accounting Too Played Its Destructive Role
Independent Directors Too Did Not Help Reduce Malpractices
Reasons for the Failure of Conventional Measures
Suggestions to Improve Corporate Virtue
Role of Corporate Governance
The Role of Corporate Culture
Role of Corporate Social Responsibility
Other Influences in Creating an Ethical Organization
Developing and Executing a Comprehensive Ethics Programme
Codes of Conduct
Ethics Committees
Ethics Communication Systems
Ethics Office/Officers
Ethics Training Programmes
Disciplinary System
CASE STUDY: Wipro Limited: An Earnest Effort to Create an Ethioal
Organization
PART 2: HOW CAN ETHICS BE APPLIED IN DAY-TC-DAY BUSINESS?
Chapter 7: Corporate Ethics: Good Governonce
What Is Corporate Governance?
Definitions of Corporate Governance
Desiderata of Corporate Governance
A Historical Perspective of Corporate Governance
Significance of Corporate Governance to Developing Countries
issues in Corporate Governance
Major Thrust Areas of Corporate Governance
Strategies and Techniques Basic to Sound Corporate Governance
Benefits to Society
Benefits to Corporation
Indian Model of Corporate Governance
What is 'Good' Corporate Governance?
Obligation to investors
Obligation to Employees
Obligation to Customers
Managerial Obligation
Legislative Changes
Introduction of Regulations
Implementation of Recommendations of Birlo Committee Report
The Reserve Bank's and Other Regulations
Self-Regulation
Pioneers in Good Governance Practices
Corporate Governance in India—A Performance Appraisal
Future of Corporate Governance In India
Impetus for the Growth of Corporate Governance In India
CASE STUDY: Tata Steel—A Company that also Makes Steel
Chapter 8: Corporate Ethics: Investors Rights, Privileges, Problenns
ond Protection
Introduction
Ethical Governance Needed to Protect Stakeholders
Theoretical Basis—Agency Costs
Long-Term Shareholder Value
Rights of Shareholders
Views of Various Committees on the Issue
Dr J. J. Irani Committee Report on Company Law, 2005
Poor Track Record of Shareholder Protection In India
Guide for Investors/Shareholders
Investor Protection
Investor Protection in India
N, K. Mitro Committee on Investors Protection
Problems of Investors in India
Law Enforcement for Investor Protection
Lacunae in Investor Protection
Sebi's Poor Performonce ond Suggestions for Improvement
CASE STUDY; On Insider Troding (HLL-BBLIL Merger)
Chapter 9: Handmaid of Ethics: Corporate Socioi Responsibility
Introduction
Wtiy Social Responsibility of Business?
Definitions of GSR
Toddy's Corporote Socioi Responsibility
Theoreticoi Justificotion for GSR
Wtiot Are Gorporotions Expected to Do?
Models for Implementotion of GSR
GSR OS o Business Strotegy for Sustoinoble Development
Advontoges of GSR
Scope of GSR
Steps to Attoin GSR
Externoi Stondords on GSR
Prestigious A\ftrords for GSR
Thie Indion Perspective \ •
Indio on the Ethicol/GSR Motrix
Gore-Bcsd Indio
Ethics ond Socioi Responsibility of Business
Socioi Responsibility ond Indion Gorporotions—A Score Gord
Future of Indian GSR
CASE STUDY: Dr Redd/s Loborotories: Commitment to All-Round Corporote Exoeience
Chapter 10: The Ethics of Consumer Protection
Consumer—An Importont Stokeholder
Hidden Toxotion on Society
Stokeholder Ailionce
Consumer ond Consumer Proteotion
Porties to Consumer Protection
History ond Growth of Consumer Protection
Roiph Nader's Contribution to Consumer Protection
Consumer Protection, Why ond How
Consumer Duties ond Responsibilities
Consumer Protection: Indion Scenorio
Spote of Consumer-Oriented Legislotions
How Are indion Consumers Exploited?
Consumer Protection in Indio
Legol Protection to Consumers
Consumer Protection Act 1986
Consumer Protection (Amendment) Act 2002
Prevention of Food Adulterotion Act, 1954
Institutionoi Arrongements Under Copra
Quoiity Stondords
Standards of Weights and Measures
Role and Initiatives of Voluntary Organizations
Other initiatives to Promote Consumer Protection
CASE STUDY: Wockhordt Ltd—Divergence Between Precepts and Practices
Chapter 11: Environmental Ethics
Introduction
Environmental Concerns
History of Environmentolism
Environmental Philosophy
Environmental Preservation: Role of Stakeholders
Future Outlook on Environment
Partnerships
International Issues
Sustainable Development
Costs and Benefits of Environmental Regulation
Trade and the Environment
industrial PoiiuTion
Role of Corporations in Environmental Management
Innovative Business Responses to Environmental Regulations
Waste Management and Pollution Control
improving Corporate Environmental Performance
Need for a New Approach
Environmental Audit
Managing Environmental issues
Product Differentiation
Managing Regulation
Redefining Markets
Environmental Risk Management
Environmental Management in India
Charter for Voluntary Pollution Control
Corporate India Gets Eco Friendly
India's Environment Policy
CASE STUDY-1: E-Woste: The Latest Conmbutor to Environmental Degradation
CASE STUDY-2: Tirupur—A Study on Its Environmental Degradation
Chapter 12: Role of Vorious Agencies in Ensuring Ethics in Corporotions
introduction
Public Opinion
Role of Auditors in Ensuring Business Ethics
Role of Board of Directors in Ensuring Ethical Business
Medic and Business Ethics
Ethics in Advertising
Role of Gcyernment Agencies in Ensuring Ethical Practices
Dnip of the Judiciary
Role of SEBI in Ensuring Ethical Corporate Governance
L.
Role of Whistle-blowing
CASE STUDY-1: Keton Porekh Scam 2001
CASE STUDY-2: Solvendra Dubey: A Potriotio but Unfortunate
Whistle-blower
Chapter 13: Ethics and Indian Business
Impact of Globalization
Role of Securities Market in Economic Growth
Phenomenal Growth of Indian Capital Market
Nature of the Indian Capital Market
Development of the Indian Capital Market
Deficiencies in the Indian Capital Market
Major Indian Scams
Can Unethical Behaviour Be Avoided?
Reasons for Unethical Practices Among Indian Corporations
Business Ethics in India Today
Corporations in India Cannot Afford to Be Ethical
Some Unethical Issues in India
Why Should Indian Business Be Ethical?
Studies on Ethical Attitudes of Managers
Some Questionable Business Practices
CASE STUDY: Demat Scam 2003-2005
PART 3: FUNCTIONAL AREAS IN BUSINESS MANAGEMENT
Chapter 14: Marketing Ethics
Role of Marketing
Defining Marketing Ethics
The Context of Indian Economy
Normative Marketing Ethics
Areas in Marketing Ethics
Beyond the Four Ps
CASE STUDY: The Colo Conundrum
Chapter 15: Ethicai issues in Human Resource Management
Introduction
Definition
Genesis and Growth of Human Resource Management
Scope of Human Resources Management
Different Aspects of Human Resources Management
Different Functional Areas of HRM
Emerging Challenges of HRM
Changing Profile of HR Professionals
HR-related Ethical Issues
Role of HRM in Creating an Ethical Organization
Institutional Culture
Creating an Etl-iicai Organization
CASE STUDY-1; Ttie Ptioneesh Murthy Sexual Harassment Case
CASE STUDY-2: HMSI—Better Wages Cannot Suppress Workers' Demand
for TTieir Rigtits
CASE STUDY-3: The HR Intervention at Rourkela Steel Plant: Involving People
In Quality-driven Improvement Culture
Chapter 16: IT Industry: An Overview and Ethical Perspective
Introduotlon
Struoture of IT-ITES Industry
Unique Characteristics of IT-ITES Industry
Ethical Perspective of IT-ITES Industry
CASE STUDY-1: Mphasis Case: If Individuals Do Not Comply, Safeguards
Achieve Little
CASE STUDY-2: Credit Card Data Fraud
CASE STUDY-3: Cyber Crimes—The Glitches Amidst the Glo\w
Chapter 17: Financial Management: An Overview and Ethical Perspective
Introduction
Financial Accounting
Management Accounting
Financial Management
Ethical Issues in Finance
Frauds in Banks
Measures Against Bank Frauds
Constraints to Ethical Practices in Indian Nationalized Banks
Frauds in the Insurance Sector
Ethical Issues Arising Out of Activities of Professional Players
MINI CASE 1: Xeroxing Corruption
MINI CASE 2: Fouiplay by Soundcroft Industries' Promoter
MINI CASE 3: Tricking Investors for Personal Gain
MINI CASE 4: Dereliction of Duty by a CFO