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Rape of the Rock: Coca-Cola & Pepsi Harm India's Ecology
Trideep Sahu (57) 2nd Year, MBA
RAVENSHAW MANAGEMENT CENTRE
Ravenshaw University, College Square, Cuttack - 753003.
ACKNOWLEDGEMENT I would like to express my gratitude to all those who gave me the possibility to complete this thesis we deeply indebted to Dr. S.Ramaratnam (Faculty, Business Ethics),his stimulating suggestions and encouragement helped me in all the time of research for and writing of this thesis. I wish to thank him for guiding and correcting us throughout the execution of this project. I also express our sincere gratitude towards the faculty and administrative staff of Ravenshaw Management Centre. I also cordial thank to our batch mates for encouraging and supporting us. I am thankful to that power that always inspires me to take right step in the journey of success my life.
1.Abstract 2.Aanalyis of the organisation 3.Background and History of the case 4.Identification of the problem 5.Ethical issues involved 6.Assumptions and their Evaluation 7.Reccomendations and their Evaluation 8. Code of Ethics 9. Seven steps for implementing the code 10.Conclusion 11.Reference
Laws and regulations are a major tool in protecting the environment. To put those laws into effect, government agencies create and enforce regulations. The talk will review three Supreme Court cases and theirn unintended consequences: The Sriram Food and Fertilizer Case of 1986, which the Court used to attempt to control the Bhopal Gas Leak litigation; the Delhi Pollution Case of 1985-2002, which disempowered executive authority; and the still ongoing Godavarman Case of 1996, which has brought the Court full scale into the field of forest protection, empowering certain institutions and disempowering others. Talk will also point out that the Supreme Court has NEVER stopped a large project, E.g. Narmada, despite its rhetoric about concern for the human rights of project-affected people. And Prof. Rosencranz will raise the question of what happens when an activist Supreme Court turns to the right, as it has done recently. In this section, you'll find a basic description of how laws and regulations come to be, what they are, and where to find them The Indian constitution is amongst the few in the world that contains specific provisions on environment protection.
Environmental law is a complex and interlocking body of statutes, common law, treaties, conventions, regulations and policies which, very broadly, operate to regulate the interaction of humanity and the rest of the biophysical or natural environment, toward the purpose of reducing or minimizing the impacts of human activity, both on the natural environment and on humanity itself. Environmental law draws from and is influenced by principles of environmentalism, including ecology, conservation, stewardship, responsibility and sustainability. From an economic perspective it can be understood as concerned with the prevention of present and future externalities. Areas of concern in environmental law include air quality, water quality, global climate change, agriculture, biodiversity, species protection, pesticides and hazardous chemicals, waste management, remediation of contaminated land and brown fields, smart growth, sustainable development, impact review, and conservation, stewardship and management of public lands and natural resources.
Environmental laws in India
In the Constitution of India it is clearly stated that it is the duty of the state to ‘protect and improve the environment and to safeguard the forests and wildlife of the country’. It imposes a duty on every citizen ‘to protect and improve the natural environment including forests, lakes, rivers, and wildlife’. Reference to the environment has also been made in the Directive Principles of State Policy as well as the Fundamental Rights. The Department of Environment was established in India in 1980 to ensure a healthy environment for the country. This later became the Ministry of Environment and Forests in 1985. The constitutional provisions are backed by a number of laws – acts, rules, and notifications. The EPA (Environment Protection Act), 1986 came into force soon after the Bhopal Gas Tragedy and is considered an umbrella legislation as it fills many gaps in the existing laws. Thereafter a large number of laws came into existence as the problems began arising, for example, Handling and `Management of Hazardous Waste Rules in 1989. ‘Environmental law in India’ is an exhaustive study of the growth of the law relating to environment in India. The third edition highlights the
various aspects of environmental regime law of public nuisance and civil remedies, protection of forest habitat, natural resources and coastal zones, control of pollution, liability for environmental torts, constitutional mandate for environmental protection, judicial review of decisions affecting environment and environmental impact assessment processes. It contains a qualitative analysis of the laws pertaining to the field, reference to relevant international conventions and comments on recent and updated case law, making it an indispensable tool for legal practitioners, decision makers, environmentalists and students of law and environment
Description of Environmental Laws
In the Constitution of India it is clearly stated that it is the duty of the state to ‘protect and improve the environment and to safeguard the forests and wildlife of the country’. It imposes a duty on every citizen ‘to protect and improve the natural environment including forests, lakes, rivers, and wildlife’. Reference to the environment has also been made in the Directive Principles of State Policy as well as the Fundamental Rights. The Department of Environment was established in India in 1980 to ensure a healthy environment for the country. This later became the Ministry of Environment and Forests in 1985. The constitutional provisions are backed by a number of laws – acts, rules, and notifications. The EPA (Environment Protection Act), 1986 came into force soon after the Bhopal Gas Tragedy and is considered an umbrella legislation as it fills many gaps in the existing laws. Thereafter a large number of laws came into existence as the problems began arising, for example, Handling and Management of Hazardous Waste Rules in 1989.
Following is a list of the environmental legislations that have come into effect: General 1986 - The Environment (Protection) Act authorizes the central government to protect and improve environmental quality, control and reduce pollution from all sources, and prohibit or restrict the setting and /or operation of any industrial facility on environmental grounds.
1986 - The Environment (Protection) Rules lay down procedures for setting standards of emission or discharge of environmental pollutants. 1989 - The objective of Hazardous Waste (Management and Handling) Rules is to control the generation, collection, treatment, import, storage, and handling of hazardous waste. 2001 - The Batteries (Management and Handling) Rules, 2001 rules shall apply to every manufacturer, importer, re-conditioner, assembler, dealer, auctioneer, consumer, and bulk consumer involved in the manufacture, processing, sale, purchase, and use of batteries or components so as to regulate and ensure the environmentally safe disposal of used batteries. 1999 - The Environment (Siting for Industrial Projects) Rules, 1999 lay down detailed provisions relating to areas to be avoided for siting of industries, precautionary measures to be taken for site selecting as also the aspects of environmental protection which should have been incorporated during the implementation of the industrial development projects. 2000 - The Municipal Solid Wastes (Management and Handling) Rules, 2000 apply to every municipal authority responsible for the collection, segregation, storage, transportation, processing, and disposal of municipal solid wastes. 2002 - The Noise Pollution (Regulation and Control) (Amendment) Rules lay down such terms and conditions as are necessary to reduce noise pollution, permit use of loud speakers or public address systems during night hours (between 10:00 p.m. to 12:00 midnight) on or during any cultural or religious festive occasion 2002 - The Biological Diversity Act is an act to provide for the conservation of biological diversity, sustainable use of its components, and fair and equitable sharing of the benefits arising out of the use of biological resources and knowledge associated with it Forest and wildlife 1927 - The Indian Forest Act and Amendment, 1984, is one of the many surviving colonial statutes. It was enacted to ‘consolidate the law related to forest, the transit of forest produce, and the duty leviable on timber and other forest produce’.
1972 - The Wildlife Protection Act, Rules 1973 and Amendment 1991 provides for the protection of birds and animals and for all matters that are connected to it whether it be their habitat or the waterhole or the forests that sustain them. 1980 - The Forest (Conservation) Act and Rules, 1981, provides for the protection of and the conservation of the forests. Water 1956 - The River Boards Act enables the states to enroll the central government in setting up an Advisory River Board to resolve issues in inter-state cooperation. 1970 - The Merchant Shipping Act aims to deal with waste arising from ships along the coastal areas within a specified radius. 1977 - The Water (Prevention and Control of Pollution) Cess Act provides for the levy and collection of cess or fees on water consuming industries and local authorities. 1978 - The Water (Prevention and Control of Pollution) Cess Rules contains the standard definitions and indicate the kind of and location of meters that every consumer of water is required to affix. 1991 - The Coastal Regulation Zone Notification puts regulations on various activities, including construction, are regulated. It gives some protection to the backwaters and estuaries.
Air 1948 – The Factories Act and Amendment in 1987 was the first to express concern for the working environment of the workers. The amendment of 1987 has sharpened its environmental focus and expanded its application to hazardous processes. 1981 - The Air (Prevention and Control of Pollution) Act provides for the control and abatement of air pollution. It entrusts the power of enforcing this act to the CPCB . 1982 - The Air (Prevention and Control of Pollution) Rules defines the procedures of the meetings of the Boards and the powers entrusted to them.
1982 - The Atomic Energy Act deals with the radioactive waste. 1987 - The Air (Prevention and Control of Pollution) Amendment Act empowers the central and state pollution control boards to meet with grave emergencies of air pollution. 1988 - The Motor Vehicles Act states that all hazardous waste is to be properly packaged, labelled, and transported. Purpose of Environmental Law A significant challenge for jurists, for public policy makers, and for the public in general is the degree to which economic development is to be curtailed in the interests of environmental preservation. A Utopian model might offer a scenario of collective reduction in consumerism and a global redistribution of assets, as a means toward reversing the current pattern of human impact on the physical environment. However, realities of human nature and current perceptions of quality of life and standard of living necessitate development of models reflecting modern realities. Subsequently increasing tensions exist between competing interests in terms of the approach to be taken in economic development and interaction with the physical environment. Environmental law has moved from the realm of individual protection, tort and negligence-based law to the statutory, public policy arena in which case law has deemed that the interests of economic development will coexist with the interests of environmental protection. The challenge for law makers is achieving the appropriate balance of competing interests. Why do we need to protect the environment? Our new Constitution says that everyone has the right to a safe and healthy environment. The quality of our environment affects all of us no matter where we live. The environment is our home. If it is not healthy, nor are we. When people abuse the environment, this affects us all. If water is polluted, if the air is full of smoke and chemicals, if food contains poisons, people (and plants and animals) get sick. All people also have a responsibility to protect and use the environment in a way that will protect it for ourselves, our children, and our grandchildren.
Many people don't understand why we need to worry about the environment. They think people's needs and environmental needs cannot both be looked after, and that people are more important than the environment. They say that our major aim must be creating economic growth and jobs, and that the green (environmental) agenda must take second place. Some people feel hurt or insulted when others show concern over endangered species like rhinos when children do not have enough to eat. INTERNATIONAL ENVIRONMENTAL LAW In international law, a distinction is often made between hard and soft law. Hard international law generally refers to agreements or principles that are directly enforceable by a national or international body. Soft international law refers to agreements or principles that are meant to influence individual nations to respect certain norms or incorporate them into national law. Although these agreements sometimes oblige countries to adopt implementing legislation, they are not usually enforceable on their own in a court. Only nations are bound by treaties and conventions. In international forums, such as the International Court of Justice (ICJ), countries must consent to being sued. Thus, it is often impossible to sue a country. The final question in the jurisdictional arena is who may bring a suit. Often, only countries may sue countries. Individual citizens and nongovernmental organisations (NGOs) cannot. This has huge repercussions. First, the environmental harm must be large and notorious for a country to notice. Second, for a country to have a stake in the outcome of the subject matter, some harm may have to cross the borders of the violating country into the country that is suing. Finally, even if transboundary harm does exist, the issue of causation, especially in the environmental field, is often impossible to prove with any certainty. CORE ISSUES RELATING TO INTERNATIONAL ENVIRONMENTAL LAW Consider for a moment why any law is enacted - domestically or internationally. Some would maintain that it is a moral statement about behaviour that a society cannot tolerate. Some would argue that certain conduct is outlawed to deter that conduct, which is why we also attach a penalty. Some would argue, especially in light of the inefficiencies in enforcement, that laws socialize society's members to behave in a certain way by defining a code.
What is the purpose of international environmental law-is it a moral statement, a deterrence, or a socializing tool? If it is a moral statement, which many of the framework conventions seem to be, is it merely aspirational? Do we honestly believe that all nations will achieve all the ideals expressed in all the agreements? Or do we, as a global community, simply like to think of ourselves as the kind of people who believe in these things? If it is intended as deterrence, why are there not more international forums for dispute resolution, more international bodies empowered to enforce agreements, more substantive requirements, and more 'hard law' self-executing agreements? If there were, would any nation sign them? If it is intended as a socialization technique, is it working? Are nations more environmentally aware? INDIA'S INTERNATIONAL OBLIGATIONS India has obligations under numerous international treaties and agreements that relate to environmental issues. As a contracting party, India must have ratified a treaty, that is, by adopting it as national law before it came into force, or by acceding to it after it has come into force. For a treaty to enter into force, the requisite number of countries must ratify the treaty, which then has the force of international law. Specific obligations under any treaty vary, depending on the treaty itself. The nature and degree of compliance and implementation depend on a number of factors, among them: (1) the capabilities and staff of an international institution charged with coordinating national compliance efforts, if there is one; (2) the willingness of other state parties to enforce or comply with the treaty; (3) the political agenda of the government and popular support; (4) trade and diplomatic pressures brought to bear by other countries; and (5) sometimes, judicial or NGO involvement through court cases and publicity.
Introduction Business ethics is a form of applied ethics that examines ethical principles and moral or ethical problems that arise in a business environment. It applies to all aspects of business conduct and is relevant to the conduct of individuals and business organizations as a whole. Applied ethics is a field of ethics that deals with ethical questions in many fields such as medical, technical, legal and business ethics. APPLIED ETHICS Applied ethics is, in the words of Brenda Almond, co-founder of the Society for Applied Philosophy, "the philosophical examination, from a moral standpoint, of particular issues in private and public life that are matters of moral judgment". It is thus a term used to describe attempts to use philosophical methods to identify the morally correct course of action in various fields of human life. Bioethics, for example, is concerned with identifying the correct approach to matters such as euthanasia, or the allocation of scarce health resources, or the use of human embryos in research. Business ethics can be both a normative and a descriptive discipline. As a corporate practice and a career specialization, the field is primarily normative. In academia descriptive approaches are also taken. The range and quantity of business ethical issues reflects the degree to which business is perceived to be at odds with non-economic social values. Historically, interest in business ethics accelerated dramatically during the 1980s and 1990s, both within major corporations and within academia. For example, today most major corporate websites lay emphasis on commitment to promoting non-economic social values under a variety of headings (e.g. ethics codes, social responsibility charters). In some cases, corporations have redefined their core values in the light of business ethical considerations (e.g. BP's "beyond petroleum" environmental tilt). Business Culture of India The business culture of India is a reflection of the various norms and standards followed by its people. Indians have various cultural yardsticks, which extend to their business culture too. Thus, it is important that a
person visiting the country has an idea of the business culture of India. Thus, it is important that a person visiting the country has some basic idea regarding the business ethics and customs followed here. Having a good grasp on Indian business culture will ensure that you succeed in maintaining a well-earned affinity with your business counterparts. If you are unsure of how to deal with an Indian when it comes to business, we are here to simplify the task. Read on to know about the things that are to be strictly adhered to, while forming any kind of business associations with Indians. Doing Well by Doing Good Although ethics is not the same as self interest, business executives often want to be assured that it is the same. They want to make certain that “one can do well by doing good,” meaning that one can succeed in business by being ethical. There is no denying that one can often do well by doing good. An ethical company is more likely to build a good reputation, which is more likely to bring financial rewards over the long term. But good behaviour cannot be grounded in tangible reward alone. People who are interested only in reward will behave ethically when it suits their purpose, but they will go astray whenever the incentives change. There is a deeper confusion here, too. To look to ethics for motivation is to misunderstand what ethics is all about. It is like studying finance to find a reason to make money. Finance does not teach one to want to be rich. It teaches one how to be rich, assuming one wants to be rich. So it is with ethics. Ethics teaches one how to be good, assuming one wants to be good. It is important to know that one can normally do well by doing good. Otherwise ethical people could go into business only with a high risk of failure. Business ethics, however, addresses the opposite question: how can one do good by doing well? It begins with the premise that managers want to do something good with their lives and investigates how to accomplish this through business. In other words, it treats profit and business success as means to a greater end making the world a little better.
To analysis the rationale behind seasoned companies exploiting natural resources for commercial gains from the business ethics perspective.
ANALYSIS OF THE ORGANISATION:
Soft drinks are playing the vital role in the market and the companies are also getting the good profits on these products. The soft drinks industry has originated in 1772. Now these drinks spread all over the world and the millions of bottles are consumed every day. Now this business is a global one and the companies are facing high competition in this business and they are changing their strategies according to the situations. Non alcoholic soft drink beverage market can be divided into fruit drink and soft drink. Soft drinks can be further divided into carbonated and non carbonated drinks. Colas, lemon and oranges are carbonated drinks while mango drinks come under non-carbonated drinks. Cola, lemon and oranges are carbonated drinks while mango dinks comes under noncarbonated category. The soft drinks market till early 1990’s was in hands of domestic players like Coke, Thumps Up, Limca etc. but with the opening up of economy and coming of MNC players Pepsi and Cock the market has totally under their control. Worldwide, Cock is the leader in carbonated drinks market. In India it is Pepsi, which scores over cock but this difference is fast decreasing. Pepsi entered Indian market in 1991. Cock re-entered (after they were thrown out in 1977, by then central government) in 1993.Pepsi has been targeting the youth and the sales have been doing well by sticking to this youth segment. Cock on the other hand struggled initially in establishing itself in the market. In a span of 7 years of its operations in the country it changed its CEO four times they seem to have started understanding the pulse of Indian consumers. Soft drinks are available in glass bottles, aluminium cans and PET bottles for home consumption. Fountains also dispense thin in disposable containers. PEPSI COMPANY MISSION STATEMENT: Pepsi Company’s overall mission is to increase the value of their share holder’s investment. They believe that their commercial success depends up on offering quality and value to their consumers and providing
products that are safe, whole some and economically efficient and environmentally sound. Providing a fair return to their investors, while adhering to the highest standards of integrity. HISTORY OF PEPSI AND COCA COLA COMPANY: Pepsi Co Inc. was founded by Donald M. Kendall, President and chief executive officer of Pepsi –Cola and Herman W. Lay, Chairman& Chief executive of FRITO-LAY through the merger of two companies in the year 1965. MAJOR PRODUCTS OF THE NEW COMPANIES ARE: · Pepsi-Cola company Pepsi-Cola(formulate in 1898) · Diet Pepsi(1964) · Mountain Dew (introduced by T.P corporation 1984) · Frito-Lay Inc brand chips Lays brand potato chips · Cheetos brand chew flavoured snacks · Ruffles brand potato chips & Rold Gold brand pretzels Pepsi Company Inc. is among the most successful consumer products company in the world with: 1998 revenues of over $22 billion &1, 51,000 employees. Pepsi company’s brand names are among the best known & most respected in the world .Some of the Pepsi Company’s brand names are 100 years old. FRITO-LAY Company is the world’s largest manufacturer and distributor of snack chip and Tropicana products Inc. is the world’s largest marketer and producer of branded juices. Pepsi Company’s success is the result of · Superior Products. · High Stands of Performances · Distinctive Competitive strategies. · High integrity of its work force PEPSI-COLA COMPANY: Calets Bradham, New Beru and Mc.Druggist who first formulated Pepsi cola founded Pepsi Company’s beverage business at the turn of the
century. Brand Pepsi and other Pepsi-cola products including Diet Pepsi one, Mountain Dew, Slice and mug brands account for nearly 1/3 rd of the total soft drink in United States. Pepsi-cola beverages are available in about 170 countries. Key Pepsi-cola international market includes Argentina, Brazil, china, India, Mexico,Philippines, Saudi Arabia, Spain, Thailand, and the United Kingdom. Pepsi-cola provides advertising, marketing sales and promotion support to the Pepsi-cola bottles. New advertising and existing promotions keep Pepsi-cola young. The company manufacture and sales of the soft drinks are concentrated to the Pepsicola bottles. In 1996, Pepsi entered Japan and Eastern Europe.In 1967, PepsiCo. Stock splits two-for one. In 1986, North America van lines (NAVL), a premier transportation company Pepsi co, and renamed a strong contribution to the Pepsi unit it has divided in 1984. In 1969 in bold modern Pepsi cola packing which was using red, white and blue were introduced. FRITO-LAY introduced fungus brand onion flavoured snacks. In 1970 Pepsi introduces the industry’s first two litter bottles. Pepsi is the first company to respond to consumer preference with light weight, recyclable, plastic bottles. In 1971 Andral E. Pearson was appointed as president of PepsiCo, a position he held until his retirement in 1984.in 1972 don Kendall announced agreement making Pepsi cola the first foreign product sold in U.S.S.R. Pepsi co is given exclusive rights to import Stolichnaya Russian vodka in the U.S. In 1973 and 1974 Pepsi-cola became the first American consumer product to produce made and sold in former Soviet Union.In 1975 Pepsi Lite, with destructive lemon taste, is introduced as an alternative to traditional diet colas. In 1976 PepsiCo adopts code of worldwide business conduct. Pepsi-cola became the single largest selling soft drink brands sold in U.S super markets. In 1977 PepsiCo shares spilt up three for one. In 1987 and 1979 the opening of PepsiCo research and technological center in Vallah N.Y PepsiCo reached 85 billion marks in sales. Pepsi was formed to focus on the overseas development of restaurants. In 1981 PepsiCo fitness center was completed, making PepsiCo, one of the most advancedcompanies in the area of employee’s health and fitness. In 1982 Pepsi free and diet Pepsi free, the first major brands caffeine free colas were introduced.
BACKGROUND AND HISTORY OF THE CASE:
The case discusses the controversy surrounding the Indian subsidiaries of multinational cola majors Coca-Cola and Pepsi in 2002-03. The two companies had caused severe ecological damage in the state of Himachal
Pradesh by painting their advertisements on rocks. The case describes the ecological importance of these rocks and the nature and extent of environmental damage caused by the companies. Besides giving a detailed account of the legal proceedings initiated against them, the case also discusses the efforts taken by the companies to repair the damage. Environmentalists argued that the damage done by the companies to the fragile ecosystem was irreparable. They pointed out that though the damage might seem to be repairable on paper, in reality it was virtually impossible. Commenting on this, Professor Ashok Sahni (Sahni) of Punjab University said, "It becomes a very expensive proposition trying to wash off the paint with gallons and gallons of thinner and then too completely cleaning it and restoring the original surface is impossible."4 Worldwide, companies following good corporate governance policies do not exploit natural formations for commercial purposes. Analysts said that by harming the ecology of the Manali-Rohtang road area, Coke and Pepsi had shown a gross negligence of their duties as socially responsible corporate citizens. Both the companies, however, refused to acknowledge responsibility for the damage done. Instead, they tried to pass the buck to their local partners (distributors, advertisers etc.). While Pepsi stated that it had little operational control over the affected Manali-Rohtang region, Coke argued that it was an 'extremely environment conscious' company and that the incident was a local mistake. As media coverage of this issue intensified, Coke and Pepsi began fearing the damage the controversy could cause to their image and popularity.
IDENTICATION OF THE PROBLEM:
Coca-Cola India (Coke) and Pepsi Foods Limited (Pepsi), the Indian subsidiaries of multinational cola majors Coca-Cola and PepsiCo, found themselves under attack. In an article published by leading Indian newspaper, Indian Express (titled 'Rape of the Rock'); the two companies were accused of destroying the ecological balance of the Himalayan state of Himachal Pradesh (HP). Coke and Pepsi had allegedly defaced rocks that were over 45 million years old along the Manali-Rohtang road in the state. These companies had painted their advertisements on the rocks, thus harming the ecosystem and disfiguring the beauty of the mountainous region (Refer Exhibit I for pictures of the painted rocks). While many other companies were also found to have damaged the rocks in this way, Coke and Pepsi were the most high profile organizations involved in this activity as a
result they attracted the maximum criticism.1 This news report (and many other related reports that followed) generated wide-spread outrage against the companies and their illegal use of government-land for advertising products. Many environmentalists referred to this act as 'commercial vandalism.'
ETHICAL ISSUES INVOLVED:
Environmental issues: Cola Scam Both the companies, however, refused to acknowledge responsibility for the damage done. Instead, they tried to pass the buck to their local partners (distributors, advertisers etc.). While Pepsi stated that it had little operational control over the affected Manali-Rohtang region, Coke argued that it was an 'extremely environment conscious' company and that the incident was a local mistake. As media coverage of this issue intensified, Coke and Pepsi began fearing the damage the controversy could cause to their image and popularity.
Over the decades, many companies in India had painted their advertisements on rocks but nobody seemed to have been bothered by this practice till the Indian Express reported the damage to the ecosystem. Once the controversy erupted, many people suddenly found that they had something to say about the issue. Analysts felt that companies opted for this mode of advertisement since it was very cost-effective - they only had to invest in the paint and labour. Since they did not seek permission from the government, to whom the land belonged, they did not have to make any payment in this regard.
✔ It is believed that the best way of promoting high standards of business practices is through self-regulation. ✔ Business should be conducted in a manner that it earns the goodwill of all concerned through quality, efficiency, transparency and good values. This Code has been designed as a voluntary guideline to achieve these objectives. ✔ Be truthful and realistic in stating claims. ✔ Be responsive to customer needs and concerns.
✔ Treat all stakeholders fairly and with respect. ✔ Protect and promote the environment, conserve water and power and community interests. ✔ Be law abiding and do not suppress the truth howsoever unpleasant it may be in the short run.
SEVEN STEPS FOR IMPLEMENTING THE CODE:
1. 2. 3. 4. 5. 6. 7.
Integration and Endorsement Distribution Breaches Affirmation Contracts Training Nurture
This case was regarded by many corporate, lawyers and environmentalists as one of the cases that who were found guilty should do the restoration work of the important cultural and environmental places.
Reference: www.google.co.in www.buisness-ethics.org www.wisegeek.com