Business ethics: an Indian perspective/
A.C. Fernando.
- Chennai: Pearson, 2009.
- 513 p. ill. 24 cm.
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 ■ ; V 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