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Ethics refers to a system of moral principles a sense of right and wrong, and goodness and badness of actions and the motives and consequences of these actions. As applied to business firms, ethics is the study of good and evils, right and wrong and just and unjust actions of businessmen. Ethics is a body of principles or standards of human conduct that govern the behavior of individuals and groups. Ethics arise not simply from man's creation but from human nature itself making it a natural body of laws from which man's laws follow. Ethics is a branch of philosophy and is considered a normative science because it is concerned with the norms of human conduct, as distinguished from formal sciences such as mathematics and logic, physical sciences such as chemistry and physics, and empirical sciences such as economics and psychology. Ethics is seen as an individual’s own personal attitude and a believe concerning what is right or wrong, good or bad. It is important to note that ethics reside within individuals and that organization doesn’t have ethics. People have ethics. Consequently, its definition and understanding varies from person to person. These are not absolute, but are relative. Ethical behaviors are in the eye of beholder. What is right or wrong is a personal individual matter, but is still influenced by socially accepted norms. Right, and proper and fair are the ethical terms. It expresses a judgment about behavior towards people they felt to be just. Ethics are useful tools for sorting out the good and bad components within complex human interactions. Business ethics does not differ from generally accepted norms of good or bad practices. If dishonesty is considers to be unethical and immoral in the society, then any business man who is dishonest his or her employees, customer’s shareholders, or competitors is unethical and immoral person. Businessmen should not try to evolve their own principles to justify ‘what is right and what is wrong’
A.16 Formation of ethics
An individual’s ethics are formulated through the operation of forces in the individual’s environment. These are discussed in the succeeding paragraphs.
The formation of ethics begins when the individual is a child. Thus the family environment has a significant influence in determining what the child learns about good and bad, right and wrong.
As the child develops contacts outside the home through home, school, play and work, peers exert considerable influence on the individual’s ethical beliefs.
As a person matures and develops as a human being, he or she will be exposed to many critical experiences that will be affect his or her ethical standards.
Values and morals
One’s ethical standards are also greatly influenced by values and morals. People who place high value on money and material possessions may not have strong ethical standard regarding behaviors that facilitate the accumulation of that wealth.
People often change their ethics in response to unknown situational factors. An employee, who is threatened with loosing a job that has been held for years, may commit unethical acts in order to save the job.
One of the oldest sources of ethical inspiration is religion. More than 1,00,000 different religion exist across the globe .Despite doctrinal differences, the major religion coverage on the believe that ethics is an expression of divine will that reveals the nature of right and wrong in business and others walks of life.
The legal system
Laws are rules of conduct, approves by legislatures, that guide human behavior in any society .They codify ethical expectations and change as new evils emerge. But law cannot cover all ethical expectation of society. Whenever ethics the law codifies, it is binding on businesses. The society expects businesses to abide by the law. Obeying the law is presumed to be ethical behavior .Law breaking in business is common. Taxes are evaded, hundred of employees die because of occupational disease, many perish because of industrial accidents, and million others receive disabling injuries on the job. The blame for these death and injuries had to be shared by employees and employers who fail to adhere to occupational health and safety
laws. Consumer suffer because of poor quality and high priced products by the supplied by the businessmen .Businesses that degrade the environment by disregarding environment protection laws cause misery to the society.
and language. for several reasons as stated below: Ethics corresponds to basic human needs. • • Valued give the management credibility with its employees. The HR management can have credibility with its employees simply because it has credibility with the people. Neither a sound business strategy. when perceived by employee as genuine. since people believe that the company offers value for money. because they perceive its purpose activities to be honest and beneficial to society. A company perceived by the public to be ethical and socially responsive will be honored ands respected even by those who have no intimate knowledge of its actual working.A. Its public issues will attract an immediate response.Organisational ethics. • Values create credibility with the public. Moreover. create common goals. It is men basic nature that he desires to be ethical. These bases ethical needs compel the organizations to be ethical oriented. not only in his private life but also in his business affairs where. Values are supposed to be a common language to bring the leadership and its people together. nor a generous compensation . they (managers) themselves feel an equal need to be genuinely proud of the company they are directing. being a manager he knows that his decisions may affect the life of thousands of employees. values. most people want to be the part of organization which they can respect and be proud of. There will be an instinctive prejudice in favour of its products. Most HR manager would like to respond to this need of their employees and.17 IMPORTANCE OF BUSINESS ETHICS Ethics is important to business in general and HR in particular.
Another point of great importance is that an ethical attitude helps the management make better decisions. This is so because respect for ethics will force a management to take various aspecteconomic. • Ethics and profit go together. • Law can’t protect society. social and ethical-in making decision. Ethics is important because. An ethicallyoriented management takes measures to prevent pollution and protect workers health even before being mended by law . the government cannot always regulate all activities which are harmful to the society. Where law fails. law and lawyer cannot do every thing to protect society. Value-driven companies are most likely to be successful in long run. who can reach out to agitated employees.decision which are in the interest of the public. that is . People in an industry know the dangers in the particular technology better than the regulatory agencies.policy and fringe benefits can win employee credibility. Technology develops faster than the government can regulate. • . but perceived moral and social uprightness can. ethics can. and the company’s own long-term good. even though the decision making is slower. A company which is inspired by ethical conduct is also profitable.Futher. ethics can succeed. though in the short run.An ethically sound HR manager. their employees. they may lose money. will quell a trouble more effectively than the police. Values help better decision making.
besides giving an individual identity to that organization. They provide positive and productive orientation and direction to the code of business. Haryana and Delhi chamber of commerce has also lately formulated a code of ethics. The Punjab. The code constitutes a primary level.A. For example.which includes the MNCs)has recently issued a declaration on Norms of business consisting of ten points. self regulation character for enlighten citizenship among business entities. by leading private sector industrialist in western India. These are intra and inter organizational in nature and relate to all activities of an organization and its environment.Nearly 95 percent of the Fortune 500 companies have codes.The CFBP president claimed that sustained pressure from his council has resulted in creation of Advertising standards Council of India (ASOI) and in promulgation of the consumer protection act (CPA) . its purpose is to provide guidance to manager and employees when they face ethical dilemma. The CFBP has initiated a set of prizes and awards called ‘Jamnalal Bajaj Uchit Vyavahar Puraskar’ or(Jamnalal Bajaj prize for fair Business Practices) to promote exemplary application of the above norms . An internal enforcement mechanism. . adds teeth to the code. and adopted a code of fair business practices.1986. Code of ethics is guidelines to steer the conduct of both the organizations and its employees in all business activities. including penalties for violating the codes. Industry association have evolved codes of conduct their own. the council of fair business practices (CFBP) established in 1916.18 Code of ethics Code of ethics has become popular . The most effective codes are those drawn up with the cooperation and widespread participation of employees. Whoever evolves the code.The Federation of Indian chambers of commerce industry (FICCI. and a trend is visible in the corporate sector in India also.
but by demonstrating through leaders the commitment of the organization to ethical behavior. . public relations. so that they know how to conduct themselves in terms of ethical behavior and give them a sense of common identity. Initiative: it provides initiative and stimulation to the suppliers and customers for proper conduct by creating a sense of moral obligation Ethical culture: It promotes a culture of excellence by not just formally teaching ethics. fair completion. and corporate behaviors with in and with out. or rules that guide behaviors.Code of ethics provide general guidelines with respect to the values and ethical standards of the company Business ethics is concerned with truth and justice and has a variety of aspects. A code is a statement of policies. consumer autonomy. advertising.19 Objectives of code of ethics A code of ethics aims at the following: Guidance: It provides direction to the most important element of an organization namely the “People”. A. such as expectation of society. Confidence: It inspires public confidence besides enhancing the reputation of the organization. social responsibilities. Principles.
ethical behavior within its own walls-to and by employees-is a must. Further. a well-communicated commitment to ethics sends a powerful message that ethical behavior is considered to be a business imperative. measurement and a new ethical code have been developed. However. Once training. Ethical behavior starts at the top. . Ethics are important not only in business but in all aspects of life because it is an essential part of the foundation on which of a civilized society is build. A business or society that lacks ethical principles is bound to fail sooner or later. Companies now commit considerable time and money to illustrate their reliance on ethical behavior. just as efficiency and productivity companies must innovate ways to measure ethical behavior. and starting ethics hotlines to report possible policy violations. Hiring a full-time ethics officer is another signal to employees that ethical violations will be taken very seriously. this person isn't just a watchdog-they will take a proactive approach to identifying possible violations before they develop. Companies are also interested in determining whether ethical behavior can be measured. Modern ethics codes aren't just some simple platitudes set in a break-room plaque. led by top management. companies are also hiring full-time ethical compliance officers.20 Business ethics Companies. which in turn motivates ethical behavior. and top management dictates the mood. Ethical behavior by the leaders of an organization will inevitably set the tone for the rest of the company-values will remain consistent. Before a company can expect to be viewed as ethical in the business community. are increasingly adopting ethical codes of conduct.A.
To neither give nor take any illegal payment. health. donation. The company’s resources should not be utilized by the employees for their personal usage Company should provide better environment condition Information about employee’s personal lives. Employee should report to management any actual or possible violation of code or an event that could affect the business or reputation of the employee’s company.color . loyalty. To comply with all regulations regarding preservation of the environment. benefits to obtain business or favours. The polices should be fair and transparent Proper provision of safety should be provided by the company to the employees.A. or comparable. remuneration. There should be proper honesty. Regular measurement of employee satisfaction should by company. and integrity in the employees.21 THE MAJOR PRINCIPLES OF BUSINESS ETHICS: No discrimination should be done on the basis of caste . and work evaluations should be kept confidential. gift. . and religion.
executive perquisites. In some cases. or a higher percentage increase than what competitive practice calls for. pressure is exerted to . and separation agreements.The HR function is often presumed to justify a higher level of base salaries. training and development. long term incentive plans. and HRIS (hr ethical issues) Cash and incentives plans Performance appraisal Race and disability Ethical issues Employment issues Privacy issues Safety and health Restructuring and layoffs Cash and incentives plans This includes base salaries. labour relations.A.21 HR ETHICAL ISSUES Ethical issues abound in HR activities. Base salaries. remuneration and benefits. annual incentive plans. Areas of ethical misconduct in the personnel function include employment. health and safety.
Performance Appraisal Performance appraisal lends itself to ethical issues. Ethical issues arise when the HR executive is put to pressure to favour top management interests over those of other employees an investors Executive perquisites.losing making public sector undertaking whose CEO spend 20 lakh to get swimming pool built at his residence. or disability has largely been stopped.Executive perquisites make the ethical standard of the HR executive difficult because their cost is often out of proportion to the value added. Gender. Annual incentive plan.The HR manager is often forced to design and administer top-management incentive plans. A common rationale presented to the HR executive for bending the rules is the fear of losing the outstanding executives.Just as with annual incentive plan. Assessment of an individual’s performance is based on observation and judgment. Long-term incentive plan. but in consultation with CEO and an external consultant. Ethics should be the cornerstone of performance evaluation. Age. For example a story relates to Bangalore –based . HR manager are expected to observe the performance in order to judge its effectiveness. sex. many HR executives have the responsibility of designing and administering the firm’s long term incentive plans. and the overall objective of high ethical performance reviews should to provide an honest assessment of the performance and mutually develops a plan to improve the ratee’s effectiveness. Race. at higher raters than what the individuals deserve. ethnic origin. if higher incentives are not paid. A framework of laws and regulations ahs evolved that has significantly improved work .re-evaluate the position to a higher grade for the purpose of justifying a larger than normal increase. and Disability The practice of treatment of employees according to their race.
Vigorously pursue violations and. remuneration. through email . political. rewards. when necessary. vigorously work to defend the enterprise against unfounded allegations. Privacy issues Privacy issues to protecting a person’s private life from intrusive and unwarranted actions. woman. the choice becomes difficult when the applicant has a blend of skills set and a proven track record with his or her previous employers. and the disable opportunities for employment. Monitor the selection. HR practitioners are more likely to face ethical dilemmas in the areas of employee hiring. Another area related to employment is that of faked credentials submitted by a job applicant. Employment Issues While discrimination and harassment situation receives mort publicity. it may not be inappropriate to intrude into an employee’s private matter if it is suspected that he or she discusses with competitor. No enterprise today dare to publicly state it denies minorities. the appraisal system to ensure that they are consistent with the principles and norms. For example. While discovery of this kind of fabrication usually leads to termination of the employment. and social believes as well as personal life style are private matters and should be safe guarded from being snooped or analysed. and growth prospects different from those given to others. The employee believes that his or her religious. development and.place behavior. In this environment the role of HR function is to: Monitor the principles and norms of the enterprise to ensure that they reflect the values of the society as expressed in its law.Exceptions are permitted grudgingly only when job involvement is clearly involved. One challenge commonly encountered is pressure to hire a relative o a friend of a highly placed executive.
policy ethics. This is because of the extensive use of high speed and noisy machinery. It is likely that the quality assurance man overlooks minor defects and approves a lot delivered by a supplier because of the personal relationship that the two enjoy. the action is ethical. There are ethical implications in the process by which termination decisions are made and actions taken. Restructuring and Layoffs Restructuring and consequent layoffs have become relevant because of poor management. . but incompetence does not become unethical. Ethical Dilemmas Several ethical dilemmas comfort an HR manager.how the news will be communicated . Business is composed of this human transaction.Accidents. The ethical dilemmas arise from three sources-faces to face ethics. Face to face ethics These arise mainly because there is a human element in most business transactions. For example if restructuring requires closing a plant . new categories of accident and illness have emerged. it should not be surprising that face to face ethical dilemmas arise often.messages.If conducted in an atmosphere of fairness and equity and with dignity of the affected individuals in mind. the process by which that plant is chosen .and the time frame for completing the layoffs are ethically important . production processes requiring high temperature. injuries and illnesses are likely to occur under these circumstances. including the fast growing job safety problem of office injuries. the specification of newly developed product not yet launched into the market. and functional area ethics. Safety and health Much of the industrial work is hazardous. Over past decade. an increasing reliance on chemical compounds .
Account standard ensure a high level of honest an ethical accounting disclosure.Honesty. Functional area Ethics Functional area of a business is likely to comfort ethical issues.Modern technology has replaced older methods of production which has in turn resulted in hundreds being jobless. and discriminating pricing are temptation to both parties. It can set an ethical tone and send right signals to all employees as well as external stakeholder.Corporate policy ethics Companies are often faced with ethical dilemmas that affect their operations across all departments and divisions. investors. Accounting is a critical function of any business. Bribes. Accounting statements reveals to the manager and owner the financial soundness of a company. tax collectors and trade unions rely on accounting data to makedecisions. The Hr manager and directors are responsible for making policies and implementing them too. integrity accuracy are absolute requirements of the accounting functions. kickbacks. . Ethical dilemmas crop up in purchasing departments where strong pressure is to obtain the lowest possible prizes from suppliers and where too felt similar need it bag lucrative contracts. Managers. regulating agencies. The ethical content of their policies can have enormous impact throughout the company. The consequences of employment contraction in labour intensive basic industries because of the improved methods of production . The ethical burden of deciding corporate policy matters normally rests upon a company’s HR management.
now replaced by FEMA. Some of the acts which seek to ensure fair business practices in our country are the followings: • The Foreign Exchange Regulation Act.defining proper and improper behaviour.that is to reduce to written rules. it is rarely possible for written rules to capture all the sublet variations that people give to ethics. • The Environment Protection Act. 1955. • The Companies Act.idea about what is right and what is wrong in various walks of like. • The Monopolies and Restrictive Trade Practices Act. Ethics deals with human dilemmas that frequently go beyond the formal language of laws and the meanings given to legal rules. 1986. legal rules help promote ethical behaviour in organization. • The Essential Commodities Act.Ethics And Law Laws and ethics have common aim. 1973. 1956. Laws are the society’s attempt to formalize. . Similarities and differences apart. But the two are not quite same. Ethical concepts are more complex than writing rules. However. • The consumer Protection Act. 1969. 1986.
fair trade and ethical trade. human resource management and community development . Social and ethical accounting model there is no standard balance sheet or units of currency. and by societal norms and deregulations. The process typically links a company’s value to the development of policies and performance targets and to the assessment and communication of the performance. In this way and through engagement with stakeholder social and ethical issues are tied into a company’s strategic management and operations. the social and ethical accounting framework implicitly concerns itself with issues as a wide as economic performance working conditions . environmental and economic. and community development and hence with the sustainability of a company’s activities.Social and ethical accountability Social and ethical accounting is a process that can help businesses to stakeholders. Much of this is. of course. Companies have begin to open themselves up to their stakeholders. More and more companies are now incorporating stakeholder in their decision making processes. and to improve performance. Instead. With the focus on the concerns of society . . human rights. partly because of the “push” factor of the pressure group activities but also because the realize that a greater awareness of the impact of their activities and how they are perceived is necessary to improve strategic decision making. standard business practice talking to customers and suppliers to identify the issues as they arise to satisfy new needs and a company realize that it is failing to involve important groups or there is mistrust or misleading in its relations with stakeholder. social. environment and animal protection. the are defined by company’s value and aims by the interests and expectation of its stakeholders.
systematic and timely action of the accountings process to support the decision making of an organization and its stakeholders. Continuous management of the process.The inclusion in the accounting process of all appropriate areas of activity relating to an organization’s social and ethical performance. Regularity and timeliness. Other principles can be put into three broad relating to the: Scope and nature of the company’s social ethical accounting process. .The need for regular. or in assessing its quality.The inclusion of significant information that is likely to affect stakeholder groups and their assessment of an organization’s social and ethical performance. Materiality.Principle of social and ethical accounting These principles can be used in designing and managing a process. This principle requires that the aspirations needs of all stakeholder groups are taken into account at all stages of the social and ethical accounting process. The dominant principle of social and ethical accounting is inclusively. Meaningfulness of the information created by the process. Scope and nature of the process Completeness.
The ability to compare information on an organization’s performance with previous periods. statutory regulation or non statutory norms. improvement.The characteristic that allows an organization and its stakeholders to depend on the information provided by the accounting to be free from significant error or bias. not just a one-off exercise to produce a report.Making the accounting process part of an organization’s operations.Meaningfulness of information Quality Assurance. or external benchmarks drawn from other organizations. or systems integration. Accessibility – Appropriate and effective communication to an organization’s stakeholders of its accounting process and its performance. Reliability. The audit is concerned with building credibility in the process with all stakeholder groups. Continuous management of the process Embedded ness. Continuous . systems and policy making. and hence developing meaningful stakeholder engagement. performance targets. that is.The audit of an organization’s process by an independent and competent third party.Steps taken to improve performance in response to the results of the accounting process. Comparability.
The Social and Ethical accountability model Plan ning Stakeholder Engagement Auditing And Reporting Accounting Embedding .
.The generic model of social & ethical accounting includes six elements in a continuing process that a business undergoes in order to manage & improve its accountability & performance.
& defines & reviews its values & social & ethical objectives & targets. At every stage a company should incorporate useful experience from the previous cycle. information is collated & analysed.The company commits to the process of social & ethical accounting.The process of preparing the report & the report itself are externally audited. . auditing & reporting.The concerns of stakeholder are addressed at each stage of the process through regular involvement. structure & systems are developed to strengthen the process & to integrate it into the company’s activity.To support each of the stages. ACCOUNTING- The scope of the process is defined. on the company’s systems & REPORTING- AUDITING. A report performance is prepared.it must be flexible enough to learn & innovate from the process. & the report is made accessible to stakeholder in order to obtain feedback from them. EMBEDDING. STAKEHOLDER ENGAGEMENT. & performance targets & improvement plans are developed. PLANNING.
Members shall not falsely or maliciously attempt to injure the reputation of others. Section 2 – Honesty. Integrity. Section 4. Fidelity to trust.Members shall not make false. and inviolability of confidence are incumbent upon every member as professional obligations. fairness. Loyalty. nor shall they engage in false or deceptive advertising. Literature review Article 1 . Section 3. misleading or unwarranted statements.Section 1 – Membership of any class shall be contingent upon conformance with the established principle of professional Ethics. Section 5 – Member shall endeavor to cooperate with others in profession and shall encourage the ethical dissemination of geoscientific knowledge. Impartiality. representation or claims in regards to professional matters.
The award. legal or ethical issues that a Wiproite may face. RIL is the first and only private sector company from India to feature in the 2004 Fortune Global 500 list of 'World's Largest Corporations' and ranks amongst the world's Top 200 companies in terms of profits. This helpline comprises senior members of the company. Wipro has compiled an "Integrity Manual" that defines the way Wiproites should deal with their customers.2 in 'India's Most Respected Companies' survey India's Most Respected Companies Survey IMRB International Business world. 2004.Wipro gets PHDCCI's Ethics in Business Award Our Corporate Bureau 30 November 2002 Mumbai: Wipro has been awarded the “Ethics is Good Business” award for the Year 2002. Article 2 Press release. recognizes Wipro’s ethics and value-based business performance. Wipro has also introduced a helpline known as “Wipro SOS”. Haryana and Delhi Chamber of Commerce and Industry (PHDCCI). who are available for guidance on any moral. RIL also emerged as the only Indian company in the list of global companies that create most value for their shareholders. 3 November 2004 Reliance Industries ranks No. Article 3 . like Chairman Azim Premji.2 in 'India's Most Respected Companies' Reliance emerges as India's 'Most Dynamic Organization' Reliance Industries ranks No. instituted by the Punjab.
Article 5 . however. Chairman. no formal instructions as such. in consonance with its philosophy of recognizing and celebrating business at its best. Castrol India Ltd.Thursday. Article4 ``Ethics in business has to reflect ethics in society' Our Bureau Kolkata. the ethical dimension of business has to rest on the three key aspects of "legitimacy. 1998 Infosys Technologies is chosen Company of the Year The Economic Times today announced its Awards for Corporate Excellence. Nobody teaches us ethics. Infosys is expected to be the first Indian company to have its shares listed on an American stock exchange. Dutta. June 22 Mr. “Ethics was such an inborn concept that all of it cannot be contained in our law. The company has arguably pioneered in India the concept of valuing intellectual capital. S.M. While admitting that the primary task of business was to create wealth by adding economic value to society. and we are just left to learn it through experimentation. and former Chairman of HLL said that. has an employee stock offer plan in place for five years now. 3 September. equitability and transparency". and has aggressively attempted to introduce employee stock options .it.
administered by our HR Department. It has its own budget. it ensures responsible consumption of natural resources through processes that are eco-friendly. Ranbaxy ensures transparency in their dealings with enforcement agencies. Supdt. Because we are a public sector corporation. Ranbaxy is India’s largest pharmaceutical company. Saket Gupta. or the interests of Ranbaxy. It stresses the fact that the company is a responsible corporate citizen. We have a Corporate Citizenship Policy. funded from a percentage of our profits.Date: 2005/7/19 Contact person: Mr. As a responsible corporate citizen. Engineer (E&T) “ONGC's Communication on Progress on Global Compact” Our corporate mission also explicitly requires us to maintain high standards of business ethics and to enrich the quality of community life through our commitment to Safety. Reliance Industries Limited .As for the environment. The company also urges its employees to avoid actions or relationships that might conflict with their job responsibilities. and extends their co-operation to officers of statutory bodies for the purpose of audits and inspections. Health and the Environment. an integral part of our business is reaching out to the community. The company is now moving from a generic company to a research oriented company and it is at the same time increasing its international presence. Ranbaxy Founded in 1962. the figure is substantial. It manages operations with a high concern for safety and the environment.
S. the Indian subsidiary of personal care products giant Unilever. "We certainly find it useful to benchmark ourselves against companies like Infosys. Emphasize every employee’s responsibility in environmental performance. recycling. As for business ethics practices. The company has its own set of environmental policies and the policies are available to the public. It is located in Bangalore Infosys has become a well-known player in the software industry for its ethical business practices and generous treatment of employees. and it was the first Indian company to be listed on a U. it offers a stock option plan to employees. maximize discharges and emissions. Infosys Founded in 1981 by a former socialist. Conserve natural resources by their responsible and efficient use in all our operations." said the chairman of Hindustan Lever. suppliers and customers for shared responsibility towards environment protection. develop green belt and promote lush green surroundings at manufacturing locations to work in harmony with nature. and reduce wastes. Plant trees. stock exchange.Reliance is India’s largest private sector enterprise and it plays a major role in India’s petrochemicals sector. Highlights of its policies are: Prevent pollution. Reliance stresses environmental responsibility. . Its books are open to investors. Reliance has India’s largest marketing network and all its brands are market leaders. Promote awareness among contractors. ensure appropriate operating practices and training.
" Respect for People: Balrampur contributes its success today to its people and is committed to treating its people with dignity. and to increase shareholder confidence in management. provides ambulances and trains people in primary health care. playgrounds. Outside its business. library furniture. catalysts and adsorbents. books. and a subsidized bus service for school children. the company is known for its rural development programs. Community: One of the company’s goals is to focus not only on its earnings but also on its efforts to make the world a better place to live. Balrampur Chini Mills Limited Balrampur is India’s premier sugar company. Transparency: Balrampur strives to maintain global standards of corporate transparency. established in 1969. It maintains a set of ethical standards and emphasizes the following: Integrity: "We demand of ourselves and others the highest ethical standards. . constructs primary health centers. is the pioneering petrochemical company in India.Indian Petrochemicals Corporation Limited (IPCL) Indian Petrochemicals Corporation Limited. Its products include polymers. It also supports environmental preservation. solvents. and one of the leading petrochemical companies. The program sets up low cost sanitation facilities to rural families and provides school buildings. surfactants. IPCL also provides technical assistance to the National Institute for the Blind and camps for social welfare. Furthermore. synthetic fiber. The company is backed by strong R&D and is continuously innovating its processes and products.
The company set up a Committee for Philanthropy in 1991 to come up with ways to make corporate responsibility to society a part of the company’s activities. the Mitsubishi International Corporation Foundation was also established to help serve the educational needs of economically disadvantaged young people.000) company employees 1997 0 1998 1 1999 1 2000 0 . conducts various businesses in India including marine product trading and automotive parts.562) 0+ contractor employees * * directly or indirectly to third parties. ($ 4.Mitsubishi Corporation Mitsubishi Corporation.000) ($89. The company has its own internal environmental guidelines for business activities and has formulated an Environmental Charter that follows the international standard for environmental management systems. Environmental responsibility is also an integral part of Mitsubishi’s corporate philosophy. Bribes solicited and/or 23 4 3 4 accepted by Shell (small) ($75.000) ($153. In addition. Reported cases of bribery in Shell Number of bribes and total value $ Bribes offered and/ or paid by Shell company ($ 300) ($ 300) employees directly or indirectly to third parties Bribes offered and /or 1 paid by intermediaries. one of the major global enterprises. Shell’s Shell’s 2001 annual report provides details of disciplinary action taken by the company against staff who has breached the company’s code with regard to bribery. The company is committed to serving the welfare of world and local communities.
. Any business-related personal benefits which you or your family give receive must be reported in writing within three working days to the person to whom you normally report. imprinted with the company’s name……) which are less than $10 in value.Brides solicited and/ or accepted by intermediaries . HONEYWELL No employee will give. With the following expectations: Items of a strictly advertising nature (that is. .. + One Case in which a shell employee used an intermediary to make payments of us$300 has been included in the vases concerning company employees. offer or promise to give. Standard Chartered Bank Nothing may be given or received which might distort commercial judgment or harm the Groups reputation…. or ask or accept anything of value…. contractor employees or others * * 1 1 (unknown) (Zero) * Data not available.
Nokia launches tree for a mobile initiativeTaking a eco-friendly initiative. Nokia has announced a scheme.” Nokia. a tree will be planted. “We already have 1. The company has in the past has taken up issues like recycling e- . The Nokia ecoinitiative was announced on the World Environment Day (June 05) and the company said that it had tied up with NGOs in Tamil Nadu and Karnataka for planting the trees. Nokia India.300 bins at our main dealers' shops around the country where people can throw in their junk phones. Not only this. director of corporate affairs. a tree will be planted. informed that the programme will be introduced in 15 more cities. which has highest share in the mobile phone market in the country has been working for environmental causes. whereby for every junk mobile returned to the company dealer. adding. mobile phone giant Nokia has launched a scheme whereby for every junk mobile returned to the company dealer. the mobile phones will be recycled in a eco-friendly manner. the mobile phones will be recycled in a eco-friendly manner TO SAVE the environment. Ambrish Bakaya. Not only this.
waste and reducing the carbon footprint. . Bakaya also revealed that Nokia was working with other manufacturers and concerned government bodies to strengthen steps for e-waste management and recycling of waste.
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