Business Ethics by Vardhaman Open University Pdf

Download Business Ethics by Vardhaman Open University Pdf book free online – from Business Ethics by Vardhaman Open University Pdf book; This note covers the following topics: Corporate Governance, Corporate Social Responsibility, Indian Spiritual Traditions, Ethics in Action, Financial Ethics, Marketing Ethics, Ethics in Human Resource Management Indian Management Thought, Indian Management Models.

Ethics means norms for the conduct of people in social groupings. Ethics is derived from Greek word “Ethos”
which means culture – the prevalent behavior in the society. Thus, it is a code of conduct which has social
acceptance. Ethics has often been misunderstood to be conforming to law. On the contrary, ethics is about
voluntarily conforming to what is good/acceptable/desirable behaviour without the force of any legal/social
obligation.

Role of ethics in business has been a perpetual issue. It has been gaining importance in the recent times due to
geographical spread, growing size of businesses and their ever growing capability to impact the lives of
millions and millions of people. It has also been highlighted by the colossal scams in some businesses in recent
times. The purpose of business is to earn profits. And almost every business tries to maximise its profits. But
the question that arises here is how much profit and at what social and other costs? In a market place, beyond
a certain point, one man’s profit is at the cost of loss to some one else.

Business Ethics can be defined as the critical, structured examination of how people & institutions should
behave in the world of commerce. In particular, it involves examining appropriate constraints on the pursuit of
self-interest, or (for firms) profits, when the actions of individuals or firms affect others.

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