- Vidya Yedavalli, Director & Head VFBO Program
Business Ethics is a topic concerned with morals, Code of Conduct of employees, Policies concerning the product and service deliverables in the best interest of the all the stake holders, Governance for fair conduct of the business and transparent policies and practices in the matters of potential controversies such as corruption, discrimination, CSR and corporate fiduciary responsibilities.
It is often found that businesses breach ethics in the spree for sustenance and growth in the economy. The compromises made for bagging contracts, enhancing profits, complexities of man management and competition - in short, everything drives businesses to make choices between doing the things right way or finding shortcuts.
The 'ease of doing business' sometimes stays on the paper and the system issues take a toll on the management time and finances. These also contribute to the pain and to find via media to resolve things at lesser costs.
These short cuts and compromises made set up inferior culture in the organizations and sometimes back fires putting the management at the spot to regret the decisions taken in the past. The employees, competition, customers and suppliers are the watchdogs. Government reforms and the alert media / social media make it more complex.
So, the question, should organizations maintain high Business Ethics or keep it workable is always a matter of debate.
What do you think about it? Post your views below and add to the discussion.