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Only personal values & sense of business ethics can help a strategies to distinguish between moral & amoral use of politics & power as a means to attain organisational goals.
MEANINGS OF VALUES & ETHICS
Personal values refer to a conception of what an individual or group regard as describe. Thus a benign attitude to labour welfare is a value which may prompt an industrialist to do much more for worker than the labour laws stipulate. Personal values are imbibed from parents, teachers & elders, & as an individual grows, values are adapted & refined in the light of new knowledge & experiences. Within organisations, values are imparted by founded-entrepreneur or a dominate chief executive, & these remain in some from a long time after that person is not there.
IMPORTANCE OF VALUES & ETHICS
The twin issues of personal values & business ethics come to occupy centre stage in management. There is increasing awareness around the world ethical practices in business. Within India , there are significant social, cultural, political technological, & Economic factors affecting the state of personal values & business ethics within industry.
VALUES ETHICS & STRATEGY
Personal values & ethics important for all important for all human beings. They are specially important for strategists as they are custodians of immense economic power vested in business organisations by society. The possession of personal values by strategists is good, but the important issue is whether it is right to let them affect the consideration for strategy formulation & implementation . Business ethics has traditionally been considered to integrate core values, such as, honesty trust, respect & fairness into strategic management, policymaking, practising management, & decision-making.
BUSINESS ETHICS IS BEING IDENTIFYING AS A
MAJOR SOURCE OF COMPETITIVE ADVANTAGE
Constant monitoring of compliance by superior staff & top management Consistent nurturing of values within the organistion through their integration in to policies, practices, & actions. Incorporating the statement of values & code ethics in to employee training & educational programmes. Communication of the values & code of ethics through wide publicity & explanation of compliance procedures.
SOCAIL RESPONSIBILITY & STRATEGIC MANAGEMENT
Strategic planning, through environmental & organisational appraisals, provides answer to what an organisation might & can do. Personal values justify what an organisation wants to do. Social responsibility, along with business ethics, tells what an organisation ought to do. The issues of responsibility of business toward society merits consideration in all phases of strategic management; but to make it explicit & meaningful, it should be fore grounded during strategy implementation.
SCOPE OF SOCIAL RESPONSIBILITY
The scope of social responsibility is wide & could be considered in terms of different factors. Some people consider social responsibility in terms of claimants or stakeholders: the insiders & outsiders. The insiders are the employees & share holders ., while the outsiders include customers, suppliers, creditors, the government, union competitors & the general public. Another way in which the scope of social responsibility could be defined is in terms of social concern. Thus, the business organisation, depending on its nature, size, & breadth of activity , could extend social responsiveness to the problem of the whole world, nation, local community, industry & to itself.
SOCIAL RESPONSIBILITY FUNCTION PERFORMED BY INDIAN COMPANIES
Asian paints funded a large-scale community development project enable farmers to use local resources effectively. BHEL contributed to the development of the quality of life in rural areas, health café & family welfare, adult education, & so on. Colgate- Palmolive did pioneering work in the promotion of sports, dental health & small industry development. ITC ltd was socially active in the areas of agriculture, culture, sports & pollution control.
SOCIAL RESPONSIVENESS & STRATEGIC
We may consider social responsiveness as the level of interest exhibited by an organisation in discharging social responsibility. It is generally the top management which takes the major decision regarding the choice of social concerns, definition of the scope of activities, & resource allocation to social responsibility function. This decision are based on the views, opinions, personal values, & consideration of the business ethics of the top management. The role of the board of directors is crucial in generating a high level of social responsiveness. Then it is for the chief executive to takes up the task in discharging social responsibility