Ethics in business is the application of moral or ethical norms to business.
Ethics of an organization is critical to its successful leadership & long term sustainability.
Ethical deficit is more relevant than fiscal deficit.
The culture, values & Ethics are the determinants for the long term sustainability of any organization.
World over, at present, the presence of ethics in management is more relevant than even before.
The reasons for the fall of companies such as Enron, Lehman Brothers, WorldCom, Satyam, IL&Fs fiasco ,Jet Airways & Zee TV financial problems, in broader terms, is nothing but disregard for Ethics and deviation from spirituality.
Apart from others, Ethics is one of the main catalysts for making a Great Organization.
Ethics in business stands for moral principles based on honesty, integrity and ethical conduct that organizations are expected to follow.
Ethics in business also includes conducting business in a way thereby conserving natural resources & environment in general.
Ethical conduct is both necessary & important for following reasons :-
- Ethical conduct ensures long term sustainability of Business. An ethical organization earns the trust & goodwill of all its stakeholders.
- An ethical organization gains a competitive advantage & builds long-term values foritself.
- An ethical organization builds harmonious relationships with society.
- An unethical organization lose its image, its market share & its very right to exist.
Spirituality – Ethics & Spirituality go side by side. An spiritual awakening is a pre-requisite for the leadership to ensure ethical conduct in the organization.
Gautam Budhha, Mahatma Gandhi, Mother Teresa, all ordinary human beings become GOD, Mahatma & saint because they followed spiritual values in their life.
Similarly an organization can become a great organization if it follows ethics & spirituality in its business & day to day affairs. In fact, If we search for Great organization in world we would find all follow ethics & good governance practices.
VERY SIMPLE TO UNDERSTAID BUT DIFFICULT TO FOLLOW, HOWEVER
IT IS TRUE
IT IS TRUE
IT IS TURE!
Advantages of being Ethical in business and being Spiritual in personal life.
Adversity – A corporate following ethical values, can handle & sail through easily all recessions, mishaps & crisis.
A spiritual individual can easily withstand & sail through all adversities & crisis in his life or in the life of his near & dear ones.
Relationship – Both develop good relationships with their respective stakeholders & general public.
Attracting – An ethical organization always attracts talents.
A spiritual individual always attract good people, law of Attraction.
Success – An ethical organization has competitive advantage over its competitors.
A spiritual individual has competitive advantage over others.
“ALL THE BEST”
CS Deepak Jain
Company Secretary & Motivational Speaker
Founder, Vijayash Foundation – Inspiring Life
