Business Values and Ethics
Year / Semester: 
4th Semester

This paper aims at providing the students the understanding of ethical issues related to business.


Meaning and Nature of Values; Values in context of Business; Mission Statament and Role of Corporate Values in shaping it; influence of Individual Values on Morality of Managers; Indian Values and Changing Value systems of India. Ethics; Evolution of Ethics and their relation to values, norms, morals. Nature of Ethics and Relevance to Business; Virtue theory; Utilitariansm and its Applications to Business; Rights; Justice; Profit Maximization vis-à-vis Ethics. Contemporary Issues: Workplace Spirituality; Indian Ethos for Business; Vedanta and Managers. Corporate Social Responsibility: Public Policy of a Corporation and its role in a market society; the nature of an ethical corporation; concept of Total Ethical Management.
Ethical Responsibilities of Business towards customers; Ethical Issues in Marketing; Issues relating to Product Safety, Product Quality, Pricing and Promotion. Ethical Responsibility of Business towards employees; wistleblowing; the changing workplace; employees discrimination; harassment of female workforce; rights and obligations of employees and employers.

Suggested Readings: 

1. Buchholz and Rossthal, Business Ethics, Prentice Hall
2. David Stewart, Business Ethics, McGraw Hill
3. Stoner, Freeman, Gilbert, Management
4. Corporate Governance and Business Ethics – AIMA; Excel Books
5. S.A. Sherletar, Ethics in Management, Himalaya Publishers