The abstract is typically a short summary of the contents of the document. Type the abstract of the document here.MUMBAI [Type the company address] [Type the phone number] [Type the fax number] 1/15/2012 . The abstract is typically a short summary of the contents of the document.] NITIE.qwertyuiopasdfghjklzxcvbnmqwer tyuiopasdfghjklzxcvbnmqwertyuio pasdfghjklzxcvbnmqwertyuiopasd fghjklzxcvbnmqwertyuiopasdfghjk ETHOS IN BUSINESS ENVIRONMENTINDIAN WAY lzxcvbnmqwertyuiopasdfghjklzxcv bnmqwertyuiopasdfghjklzxcvbnm qwertyuiopasdfghjklzxcvbnmqwer tyuiopasdfghjklzxcvbnmqwertyuio pasdfghjklzxcvbnmqwertyuiopasd fghjklzxcvbnmqwertyuiopasdfghjk lzxcvbnmqwertyuiopasdfghjklzxcv bnmqwertyuiopasdfghjklzxcvbnm qwertyuiopasdfghjklzxcvbnmqwer Pi tyuiopasdfghjklzxcvbnmqwertyuio pasdfghjklzxcvbnmqwertyuiopasd fghjklzxcvbnmrtyuiopasdfghjklzxc vbnmqwertyuiopasdfghjklzxcvbn mqwertyuiopasdfghjklzxcvbnmqw ertyuiopasdfghjklzxcvbnmqwertyu 1/15/2012 Pi [Type the abstract of the document here.

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but not impossible. When financial scams and scandals are being reported by the media almost as a weekly feature. the insignia and talisman of a professional manager.The ability to do the right thing and. It must become the done thing. doing it every time is the noblesse oblige in the managerial milieu. It is in this setting that the importance of instilling basic ethical norms in the process and progress of a professional career in commerce takes the driving seat. following questions arise for introspection. accepted and followed by all the countries. but it was impossible to be honest. where does one look for relief and redemption? Mahatma Gandhi once said that it was difficult. doing it every time (even when no one is watching) is the noblesse oblige in the managerial milieu. when even the world of sports is tainted with treachery and painted with perversion and political skullduggery. thus it has developed own ethical values and understanding of ethical principles. customs and traditions. Which values does s/he promote in her/his actions and decisions? Which responsibility does s/he take? Only towards the bottom line or also towards the growth of mankind? When one looks at the current commercial scenario. • There is no international ethical code of conduct. Perhaps. the insignia and talisman of a professional manager. Business is no longer confined to a national state but is really borderless. it was not enough to meet the greed of a few. what is more important. acceptable and important for representatives of all the continents simultaneously within different types of international cooperation projects. The ability to do the right thing and. . It must become the done thing. He advocated a simple and self-sustaining lifestyle based on the dictum that while there was always adequate means to meet the needs of everyone. what is more important. • There is a lack of governments’ initiative to create ethical cooperation framework and thus to enhance ethical behavior in international business. Today it is characterized by the following elements: • Every culture and nation has its own values. ETHOS IN MANAGEMENT PRACTICES Ethics and values must find a place in the art and science of management. International business ethics has a number of open questions and dilemmas. amass wealth. • It is hard to outline those ethical values which would be understandable. the curriculum of management education in India must be reoriented to reflect its national culture and character. history. to be an honest businessman. In this "lawless land" the responsibility of the executive is greater than ever. and also. Hence business from the international viewpoint cannot be regulated by governments unless international agreements can be reached. ETHOS –RISING IMPORTANCE IN BUSINESS Human values are necessary in today's management.

Making payments to obtain business is common practice in many developing markets in Asia.S.Financial crisis of 2007-2008 underlined importance of ethical behavior. Mr. Justice Dept. financial and legal aspects of a business. Or the recent downfall of the one of the blue-eyed boys of The Wall Street. These days the business world has gone global.). together with its emphasis on collaboration through the two-way flow of information and the use of teams. which has been accused of making a $2 billion payment to a Saudi prince to secure $80 billion in government contracts. but also recognizes and manages the values that operate at the heart of any enterprise. These values affect everyone in the organization and all of those with which it has some association. there is no such thing as a value-free organization. it is important that they be identified and managed in the best interests of the organization and the people that it is there to serve Much current management theory implicitly (and sometimes explicitly) recognizes the importance of the ethical dimension. holds potential for effective ethical management. c. b. (The company denied the allegation.Rajat Gupta. The TQM approach is based on recognition of the need for continual review of the processes of production and provides diagnostic tools of measurement to determine performance and measure progress. compliance and integrity. . they can contribute to the organization’s ability to achieve its objectives or they can act as a hindrance. which is being investigated by the U. which has admitted to nearly $2 billion in bribes. ROLE OF ETHOS IN ORGANISATION Ethical Management is a form of management that is concerned not only with the technical. which has intensified the ethics debate. As noted above. values are what shape the corporate climate within which all the other productive processes are operating. For example. in order to act professionally. Africa. leading to the resignations of both its board chairman and its CEO in 2007. honesty. Consider Germany's Siemens. the Middle East. and Eastern Europe. Given that values shape an organization’s ‘climate’ or 'culture'. TQM's emphasis on a management style that is consultative and participatory. In point of fact. Professionalism also consists in ethical behavior. It is no longer enough to be knowledgeable and experienced in a particular domain. All these instances point not only the growing decay of moral ethos at the workplace but also the least importance that is being attached to these factors when the under deals are finalized or a bribe is taken. a. That is. Britain's BAE Systems. The values adopted by an organization can be for good or for ill. and some companies feel obliged to play the game to compete. the principles of Total Quality Management (TQM) contain the seeds for sound ethical management.

The CEO and top management must engage with employees around the world to insist on transparency and compliance. There are many organizations whose members can recite the canon of values. rules and regulations .while at the same time behaving in ways that are diametrically opposed to the principles that are espoused. and Novartis whose well established ways serve as the guiding path for other organizations to follow. His question was a deceptively simple one. such a process rarely . This lack of effectiveness can result even where there is a regime of strict enforcement. The interests of shareholders could only be properly protected if directors saw their role as that of trustee. Stimulating the development of a corporate philosophy and ethos Some directors are tempted to believe that the introduction of a Code of Conduct will absolve them of the responsibility to manage the values of an organization. there is a need to develop a set of guiding principles founded on established values. Consider the examples of companies like ExxonMobil. This failure of integrity is not. Their employees throughout the world know precisely what is expected of them. who lived in Athens at around 500 BC. But such recognition comes at a price. He asked: “What ought one to do?”Not many people are comfortable when the discussion turns towards being ethical or moral. Nothing could be further from the truth. However. visions. then there is a need to provide a framework in which decisions can be made. when there is a diversity of immediate interests . The need for a corporate philosophy and ethos Ethics is about as practical a subject as you can get! For example. That is. as some think. ‘Black Letter Law’ solutions are rendered relatively ineffective if applied in a culture where those affected have little understanding of the underlying principles that inform the Code and/or where there is no disposition to ensure that the Code is applied consistently. a conscious act of hypocrisy. Goldman Sachs. and they know that nothing destroys reputations faster than ethical violations.some of which may compete. As is the case in the general community. don't tell" approach is bound to destroy your company's reputation. High standards must be enforced with a zero tolerance policy. Rather. It is a relatively simple matter to decide what one ought to do if one's obligations are seen to be exhausted in service of the interests of current shareholders. While relatively cheap and convenient. Socrates.Engaging the CEO in the process Operating ethically requires much more than a code of conduct. The company must have a closed-loop system of monitoring and auditing local marketing practices. Nothing is more important to these companies than their reputations. The "don't look. it is symptomatic of a culture in which people have failed to engage with the meaning of that which they profess. one of the first questions in ethics was asked by the Greek philosopher.

Indian business practices are unique – and may give rise to ethical behavior that may or may not be compatible with the prevailing Western viewpoint. does not always mesh well with the Indian value of loyalty to one’s group. In terms of government rules and regulations. for example. The life of mahapurush. Enforcement is also lax. the government acts as a gatekeeper rather than an enabler. a complex bureaucracy and corruption. This journey was made smooth through factors like innovations by Indian companies. Wipro. then so has the board failed in its overview of one of the critical functions of management? INDIAN ETHOS IN GLOBAL ATMOSPHERE 'Indian Management' has traveled a long journey from 'neglect to acceptance to Appreciation'. companies are more likely to buy from the company’s customers. Airtel etc. Indian ethos Means application of principles of managing an organization revealed in our ancient wisdom described in Gita and Upanishads. Out of the few outputs of the research happening over the period of time one aspect which has pulled our attention is that Indian Management is primarily value based management which works towards larger benefit and aims at sustainable and holistic growth of the organizations. friendship and clanship. success of grass root organizations such as AMUL. After the recent meltdown. Indian business culture puts a premium on favors. INDIAN ETHOS IN MANAGEMENT The Indian ethos is the outcome of the Hindu way of life. Western business has its own versions of these ideas: Procurement departments in U. Reliance. Indian ethos. not in a participatory way. society and nation. The Western concept of conflict of interest. The Indian ethos will prove to be of immense help as well as practical use to the managers in an organization. To the extent that such a process fails. in India. Infosys. whether based on multigenerational family friendships. Indian corporate experiences all are 'mines' for new management mantras from India. Friendship is highly valued. their writings. Indian ethos would certainly help the future as well as existing organizations to tackle the changes and canalizing it for their development. once more the idea of value based management is haunting everyone's mind. SEWA.S. LizzatPapad etc worldwide impression created by organizations like Tata. with slow approval. Features of Indian ethos . There is a considerable difference in the manner the Indian management style differs from that in the West: Decisions are made by the person at the top.progresses the cause of integrating values into the culture of the organization. school friendships or personal friendships.

There is nothing perfect other than the supreme soul. total quality management can be assured through excellence at work through self motivation and self development. Indian ethos focuses on the existence of human being as a truth. Indian Ethos is better than other ethos present in other countries. • Team achievement rather than individual achievement. Bhagwad Gita and Purans. Indian ethos focuses on. • Spiritual attainment rather than material prosperity. • Yielding rather than dominating. 2. Indian ethos emphasizes on inner resources. Need for Indian ethos for business We need Indian ethos in our management for the following reasons:  To develop proper management system in the organization. Indian management methods are bound to work in India. Strength and cooperation for excelling in work comes from divine. • Self control rather than outside control. According to Indian ethos. Inner resources are much more powerful than outer resources.Following are the essential features of Indian ethos and insight 1. According to Indian ethos. Character is the real power and health. 3. Elements of Indian Ethos Indians are the products of Indian Ethos. Knowledge is not power. The Indian ethos gives greater emphasis on values and ethics. As we think. 1. “if you are good then the whole world is good”. • Concept of duties rather than concept of rights. Indians believe:• Ego sublimation rather than ego assertion. so we become. • Concern for this age world and improvement. All will enjoy the highest good by mutual cooperation and respect. • Sacrificing spirit rather than fighting spirit. 4. Indian ethos are principle derived from the Upanishads. The following are some of the Indian Ethos relevant to management that can improve work culture in organization. there must be balance between spiritual values and secular values so that even a rich person can lead a life of materialism and spirituality. so we succeed. 3. One who works with calm and even mend achieves most. • Respect for and search for all truth whatever be its source. All work is an opportunity for doing well to the world and thus gaining materially and spiritually in our work. . 2.

conglomerate. with the result that a few .  To ensure all round development. Your image is bright. Nothing is more important for any organization . they should not only focus on teaching ethics in the right way and living up to the right honor code. ETHOS LEARNINGS AT B-SCHOOL If business schools are to consistently produce outstanding ethical leaders. The management must fulfill expectations of all stakeholders. The Indian Ethos emphasizes on the concept like sacrificing individual desires in favour of social benefits. Unfortunately. preferring long term benefits over short term gains. Manager cannot control and manage others without self exercising self management. business schools "signal" talent to employers. 3. Valueoriented management system can be established with the help of Indian ethos. and further empower the graduate through their privileged educational processes. productivity. growth and prosperity i. too many business schools themselves make bad people decisions when it comes to choosing their own enrollees. suggesting that the degree recipient is competent to run an organization.Attitude of the management :– This refers to the attitude of top management towards ethics and values. than making great people decisions.  Indian ethos teaches us that if you work sincerely for the society. They also need to do a much better job of filtering the people they invite into their exclusive cadres. 2. you will really enjoy your life through money harmony.. Every result an organization produces depends on the people we choose. peace and bliss. Armed with an MBA. A dynamic meditation is a process of transforming of lower consciousness into higher consciousness. Top management must have belief in value-oriented holistic management of business.Meditation :– Meditation helps to solve many complex problems of management and organization demanding higher consciousness.Self management :– The manager should first learn to manage and control himself.e. Application of Indian ethos The applications of Indian ethos are as follows 1.Management systems based on principles as per ancient wisdom are of immense help for the smooth conduct of business. such an individual enters the business from a strengthened position and is promoted more quickly to top ranks. marketing and profitability.  Indian wisdom indicates that productivity of human being is more important than plant capacity. for your organization and for the Nature. In selecting candidates for the MBA degree.

They overlook the fact that their graduates companies directly affect the lives of many stakeholders. business schools should drastically revamp their admissions processes. Ethical values are more important than brilliant academic and even professional credentials. Great professors are great leaders who inspire the right students and set them on fire. not only in their teaching but also in the way in which they live their own lives. Professors need to show high integrity.MBAs at the top have produced great damage. They can awake great callings towards a life of significance and generous contribution. rather than selfish success and personal wealth. In order to assure that the people they line up for positions of power do good for all stakeholders. business schools should also improve their batting average when hiring and promoting their professors. the environment and the public in general. but also larger communities. Those who train tomorrow's executives should be exemplary when it comes to putting their personal values into practice. including not only employees and their families. . Finally. Schools should make sure that they admit a larger proportion of individuals with the right values in the first place. Schools too often fail to understand that their initial selection of candidates has huge social consequences.

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