In sanskrit the karma refers to the action , work or deed , it also refers to the sacred law of cause and

effect where purpose and actions of a cause influence the future of that event . Good intent and good
deed add to good karma and future happiness , bad intent and bad deed add to bad karma and future
distress. Types of karma 1. Sukrama: Actions which are adding up to the karmic account are called
Sukrama. These leaver immense impact on karmic account. These increase the worth in the accounts. 2.
Akarma: It has no cause and effects or we can state which does not influence our karmic Akarma: The
events concerning to our dail routine like: daily indispensable activites of gong, toilet, cleansing, eating
etc, are kndwn as Akarma. 3. Vikarma: Actions which are performed under the influence of five vices
(are kaam (lust), krodh (rage). lobh (greed), moh (attachment) and ahankar (conceit)and results in the
reduction in the Karmic accounts of an individual, is called as 'Vikarma: These gives negative impact on
Karmic accounts. Laws of karma
The 12 Laws of Karma
1. The Great Law or the Law of Cause and
Effect
1.THE GREAT LAW=The Great Law states that whatever thoughts or energy we put out, we
get back—good or bad. As you sow, so shall you reap; whatever one
puts out into the Universe will come back to them.
2. The Law of Creation
2.THE LAW OF CREATION=Life does not happen by itself, it requires our participation. The power
to bring your imagination to life lies within you.
3. The Law of Humility
3. THE LAW OF HUMILITY=In order to change something in our life, we must first accept it.
4. The Law of Growth
4. THE LAW OF GROWTH=The universal law of growth is about expansion, within ourselves. Our own
self is the only thing we have control over. For our life to advance the way we want it to, we must
change who and what we are within our hearts.
5. The Law of Responsibility
5. The law of responsibility is about taking ownership for everything that happens in our lives. We
mirror what surrounds us, and what surrounds us mirrors us.
6. The Law of Connection
6.The law of connection states that everything and every step is connected in some way.
Each step leads to the next step, and so forth and so on. Past, Present, and Future are all connected.
7. The Law of Focus
7. THE LAW OF FOCUS= One cannot think of two things at one time. The law of focus states
that we cannot put our energy toward two things simultaneously.
8. The Law of giving and hospitality
8.The law of giving and hospitality teaches selflessness, being giving to
others and practicing what you preach.
9. The Law of here and Now
9. THE LAW OF HERE AND NOW=One cannot be present in the here and now if they are constantly
looking backward to examine what was or forward to worry about the future. Dwelling on old thoughts
holds us back and prevents us from moving forward in life.
10. The Law of Change
10. THE LAW OF CHANGE=History repeats itself until we learn the lessons that we need to change
our path.
11. The Law of Patience and Reward
11. THE LAW OF PATIENCE AND REWARD=This law essentially means “hard work pays off”. It is about
being consistent and resilient, even when no progress can be seen towards your goals yet. Patience is
the key to the rewards we deserve.
12. The Law of Significance and Inspiration
12.The law of significance and inspiration tells us that we all have value to give. Our unique gifts are
meant to be shared with the world and will make a positive impact. So no matter how seemingly small
and unimportant our contribution to the world may seem, it is important. At the same time, it is
important to remember that we only get back what we put into something.
"Values are important and lasting beliefs or ideals shared by the members of a culture about what is
good or bad and desirable or undesirable. Values have major influence on a person's behavior and
attitude and serve as broad guidelines in all situations."
Formation of Values Values develop in various stages during a person's upbringing, and they remain
relatively consistent as children mature into adults. Sociologist Morris Massey has outlined three critical
development periods for an individual's value svstem: Imprint period (birth to age seven): Individuals
begin establishing the template for what will become their own values. • Modelling period (ages eight to
thirteen): The individual's value template is sculpted and shaped by parents, teachers, and other people
and experiences in the person's life. • Socialisation period (ages thirteen to twenty-one): An individual
fine-tunes values through personal exploration and comparing and contrasting with other people's
behaviour.
Where do values come from? Values that an individual hold come from various sources. Some of these
include: • Family. • Peers (social influences). • The workplace (work ethics, job roles). • Educational
institutions such as schools or colleges. • Significant life events (death, major accident and trauma, major
health issues, significant financial losses and so on). • Religion. • Music. • Media. • Technology. • Culture.
• Major historical events (world wars, economic depressions, etc.).
Major factors that influence values are discussed as follows: 1. Social Factors: Social factors include
religious, political institutions of the society. It includes family, school. Values of an individual is greatly
influenced by all the social influences around an individual. Interactions with family members, teachers
and classmates in school, religion interactions have a strong influence on ones value system 2. Cultural
Factors: An individual acquire its values from the culture he belongs to. Every cultura has different values
towards money, relationships etc. 'Thus a person's cultural affiliations has; strong influence in forming
one's value system. 3. Organisational Factors: Values are also imbibed from values prevalent in an
organization which an individual belongs. Every organisation has its own set of values which in turn are
strongly influenced by societal values. A person forms his set of beliefs by interacting with people around
him. 4. Personal Factors: Values are also strongly influenced by one's own attitude, intelligence
education level and perception.
Types of values:- 1. Social Values = Social values are a set of principles that are morally acceptable by
society. These principles are created by the dynamics of the community, institutions in the society,
traditions, and cultural beliefs of the people in the society. The laws are a guide for people in society on
how to conduct themselves appropriately. Social values reflect how we relate to society. Social values
include justice, freedom, respect, community, and responsibility. In today's world, it may seem our
society doesn't practice many values. We have a rise in discrimination, abuse of power, greed, etc
2.Aesthetic Values = Aesthetic value is the value that an object, event, or state of affairs (most
paradigmatically an artwork or the natural environment) possesses in virtue of its capacity to elicit
pleasure (positive value) or displeasure (negative value) when appreciated or experienced aesthetically.
The term “aesthetics” is typically used to describe how things look. In business, that may be seen in
product design, brand image, or corporate identity. Aesthetics, loosely defined as the appreciation of
beauty, subsumes both ethics and economics within an holistic justificatory mechanism for business
decisions. Five essential qualities of aesthetic judgment are identified: disinterest, subjectivity, inclusivity
and internality. 3.Organizational Values = Organizational values are a set of core beliefs held by an
organization. They act as guiding principles that provide an organisation with purpose and direction and
set the tone for its interactions with its customers, employees and other stakeholders. An organisation's
values lay the foundation for what the company cares about most. It provides a common purpose that all
employees should understand, work towards and live by. Once you define and promote your values,
employees come to understand the behaviors that are expected of them that will lead to success.
4.Spiritual Values = The values of truths, peace, love, righteousness, and non- violence are found in all
major spiritual paths, these spiritual paths are also human values and the fundamental roots of a vibrant,
healthy and viable work career. Spiritual values at work means that the individuals and organizations
consider working in a spiritual path, in an opportunity to grow and contribute to society in a meaningful
way, attempting to live their values more fully in the work they do.

Business values are the concepts that guide your business. Business values can help you make decisions,
foster a culture of teamwork and collaboration and create a positive working environment. Types of
Business Values There are four types of values that we find in an organisational setting: individual values,
group values. organisational values and environmental values. • Individual Values: Individual values
reflect values and principles that individual live by and what they consider important for their self
interest. For example: enthusiasm, creativity, humility and personal fulfillment. Business values are
derived from these individual values. Group Values: Individual values affect the values of various groups
in an organisation These groups may be formal and informal. Values of formal and informal groups affect
the organisational goals. * Organisational Values: Organisational values affect the decision making of the
firm. They organisational values are derived from individual values, societal values. They reflect priorities
obiectives, commitment of an organisation. Organisational values include: pursuit of excellence
teamwork, honesty etc. • Environmental Values: Environment values reflect how an organisation relates
to society and all its stakeholders. Societal values include: future generations, environmental awareness
ecology and sustainability.

Importance of Business Values ==Decision-making: Core values belp companies in the decision-making
processes. For example, if one of the core values of a company is quest for excellence, any products not
reaching the satisfactory standard are automatically eliminated. Values show the right path to follow.
•Guidelines to Employees: Values provide standards of behaviour to employees. Core values that a
company stand for our guiding light for all employees regarding their behaviour. Values stand as a norm
or standard of conduct. • Competitive Advantage: Core values educate clients and potential customers
about what the company is about and clarify the identity of the company. Especially in this competitive
world, having a set of specific core values that speak to the public is definitely a competitive advantage.
•Attract Talented People: Company's values towards employee acts as an incentive for talented
personnel to join the company. Most people want to work for a company who value them. Core values
are becoming primary recruiting and retention tools. • Credibility among Shareholders: Business values
of an organisation strongly influences the image of an organisation. Values improve credibility of an
organisation among shareholders and investors. • Better Relationship with Customers: Core values and
commitment of an organisation towards its customers helps in creating better relationship with
customers. It improves the trust of customers and thus has strong impact on sales and profitability of
an organisation.
The word "Ethics" is derived from Greek word 'ethikos pertains to character. Ethics is thus said to be the
science of conduct. It deals with certain standard of human conduct and morals. "Ethics" is a set of
principles used to determine what is "right" when it comes to the conduct or behaviour of an individual.
Ethics is the practice of doing right actions or the art of living the good life. It is also defined as the
science of the highest good. Ethics as a moral of standard of human conduct covers following dilemmas: .
how to live a good life. • our rights and responsibilities. • the language of right and wrong. • moral
decisions - what is good and bad?
Importance of ethics
1. 'The objective of ethics is to define the greatest good of man. It deals with concepts such as good and
evil, right and wrong, virtue and vice etc. 2. Establish moral standards of behaviour. 3. It assess the
overall human behaviour in terms of morality. 4. Apply judgement upon human behavior based on these
standard and norms. 5. Ethics provide suggestions regarding moral behaviour and right or wrong.
6. The concept of ethics is applied to human beings only as they have freedom of choice and means of
tree will. 7. Study of Ethics is a normative science as it deals with what ought to be then what is the case.
Business Ethics
Business ethics, also referred to as corporate ethics, is the application of the ethical principles used to
determine "right" conduct of individuals in a professional situations.
Business ethics involves the application of moral standards to the systems and business organizations
and to the people who work within these systems and organizations.
The purpose of laying down business ethics is the development of a set of moral standards that must be
hold by organisation and its members. The laid down ethics are justified and logical, able to be accepted
and applied to the many types of choices and decisions in business, personal, and social settings.
For example: As consumers, most people believe that business should be held to standards of morality
that apply to how they interact in their dealings with customers.
Features of Business Ethics =Code of Conduct: Business ethics is a code of conduct. It tells what to do
and what not to do for the welfare of the society. All businessmen must follow this code of conduct.
•Based on Moral and Social Values: Business ethics is based on moral and social values. It contains
moral and social principles (rules) for doing business. This includes: Fairness towards customers,
employees, shareholders etc. •Commitment Towards Stakeholders: Business ethics requires
commitment towards all stakeholders i.e. consumers, employees, small businessmen, government,
shareholders, creditors, etc. Provides norms and standards :-
Unethical behaviour Unethical behaviour is an action that falls outside of what is considered morally
right or proper for; person, a profession or an industry. Individuals can behave unethically, as can
businesses, professionals and politicians. Some of the cases/instances of Unethical behaviour are
discussed as follows: 1. Mistreating Employees/Unethical behaviour Towards Employees: Many
examples exist & unethical corporate conduct toward employees or other workers in the supply chain.
Some OF them include: • Hiring child labour. • Gender based discrimination against female emplovees
=Caste/Community based discrimination among employees. •Paying less than the minimum wages
prescribed by government. • Harassment,
2. Financial Misconduct • Examples of financial misconduct include price-fixing, or an illegal agreement
between industry competitors to "fix" the price of a product at an artificially inflated level. • Chasing
short-term profit by placing investor's money in questionable investments. • Tax evasions. • Paying
unjustifiable salaries and bonuses to top officials regardless of work performance. •Bank frauds.
3. Misrepresentation: Corporate misrepresentation can take many forms. Some of the examples
are: . False or misleading advertising. . Cover-up of illegal workplace conditions or transactions. •
Falsified data in a shareholder report. • Lying to a union about corporate profits. • Hiding or denying
safety problems with a product. • Corporate board members with conflict of interests. *Doctors who
push the most expensive drugs rather than the most effective ones. *Brokers who recommend stocks
that they own in an effort to drive up the price. 4. Environmental: Unethical behaviour by companies,
such as releasing pollutants into the air, can affect society in a most dangerous manner. Though accidents
can occur, the release of harmful toxins into the environment due to lax safety standards, improper
maintenance of equipment or other preventable reasons is unethical
Ethical Decision Making Step-1: Identify the Problem: Identify the main issue surrounding which a
decision has to be made. Definitions and all the factors must be examined deeply. Step-2: Identify the
Potential Issues Involved: Identify if this decision or situation could be damaging to someone or to some
group? Does this decision involve a choice between a good and bad alternative? Step-3: Review
Relevant Ethical Guidelines: It is important to examine the norms and standards laid down by society in
general or stakeholders. Step-4: Know Relevant Laws and Regulations: Rules and regulations laid down
by regulatory bodies must be considered before taking any decision as default or flouting of rules can
have serious implications for the business. Step-5: Obtain Consultation: To implement decision with
greatest care and concern for all its stakeholders, consultation with managers and leadership is
important before taking final decision. Step-6: Consider Possible and Probable Courses of Action: This
step involves identifying all the alternatives before taking an ethical decision. Step-7: List the
Consequences of the Probable Courses of Action: Evaluate the options by asking the following
questions: *Which alternative will produce the most good and do the least harm? •Which alternative
best respects the rights of all stakeholders? • Which alternative best serves the community as a whole,
not just some members? Step-8: Decide on What Appears to be the Best Course of Action: Based on all
the facts, figures, consultations and analysis, choose the best option.
A code of ethics is a guide of principles designed to help professionals conduct business honestly and
with integrity. A code of ethics document may outline the mission and values of the business or
organization, how professionals are supposed to approach problems, the ethical principles based on the
organization's core values, and the standards to which the professional is held. A code of ethics, also
referred to as an "ethical code," may encompass areas such as business ethics, a code of professional
practice, and an employee code of conduct. Types of Codes of Ethics
1.Compliance-Based Code of Ethics For all businesses, laws regulate issues such as hiring and safety
standards. Compliance-based codes of ethics not only set guidelines for conduct but also determine
penalties for violations. In some industries, including banking, specific laws govern business conduct.
These industries formulate compliance-based codes of ethics to enforce laws and regulations. Employees
usually undergo formal training to learn the rules of conduct. Because noncompliance can create legal
issues for the company as a whole, individual workers within a firm may face penalties for failing to
follow guidelines. To ensure that the aims and principles of the code of ethics are followed, some
companies appoint a compliance officer. This individual is tasked with keeping up to date on changes in
regulation codes and monitoring employee conduct to encourage conformity. This type of code of ethics
is based on clear-cut rules and well-defined consequences rather than individual monitoring of personal
behavior. Despite strict adherence to the law, some compliance-based codes of conduct do not thus
promote a climate of moral responsibility within the company. 2. Value-Based Code of Ethics A value-
based code of ethics addresses a company's core value system. It may outline standards of responsible
conduct as they relate to the larger public good and the environment. Value-based ethical codes may
require a greater degree of self-regulation than compliance based codes. Some codes of conduct contain
language that addresses both compliance and values. For example, a grocery store chain might create a
code of conduct that espouses the company's commitment to health and safety regulations above
financial gain. That grocery chain might also include a statement about refusing to contract with
suppliers that feed hormones to livestock or raise animals in inhumane living conditions. 3. Code of
Ethics - Based on Professions Certain professions, such as those in the finance or health fields, have
specific laws that mandate codes of ethics and conduct. Accountants Certified public accountants, who
are not typically considered fiduciaries to their clients, still are expected to follow similar ethical
standards, such as integrity, objectivity, truthfulness, and avoidance of conflicts of interest, according to
the American Institute of Certified Public Accountants (AICPA). Financial Advisers Financial advisers
registered with the Securities and Exchange Commission (SEC) or a state regulator are bound by a code
of ethics known as a fiduciary duty. This is a legal requirement and also a code of loyalty that requires
them to act in the best interest of their clients.