This book is based on the syllabus prescribed by the University of Mumbai, which has been designed to educate the final year students of Banking and Insurance domain of commerce about ethics, governance and corporate social responsibilities. The book deals with concepts as well as its mechanism of application in Indian context.
The first chapter helps in developing an understanding towards the conceptual part of ethics in general and business ethics in specific. It also covers an overview of different functional areas under the scope of business ethics like marketing, foreign trade, copyright, etc.
The second chapter helps in developing decision-making skill and entails about various approaches to reduce ethical dilemma. These mechanisms are based on the theories developed by philosophers like Immanuel Kant, Aristotle, Jeremy Bentham, etc. Mahatma Gandhi suggested trusteeship principle as approach towards managing business. The application of this principle, and in general, the Gandhian approach for managing modern businesses has also been discussed in detail. The chapter also covers the functional areas like advertising and finance in light of the unethical practices and approaches to eliminate or minimize them.
The third chapter is dedicated to the concept of Corporate Governance. It discusses about the importance and principles of corporate governance and focusses mainly on the Indian Corporate Governance System. The mechanism of Corporate Governance in India comprises The Companies Act, 2013, SEBI and Clause 49 of listing agreement. The unit also helps in viewing various perspectives of Corporate Governance by studying the theories.
The ancient Indian approach towards governance was based on the teachings of the scriptures like Arthashastra and religious scriptures like Geeta, Quran and Bible. The fourth chapter also deals with the modern evolution of corporate governance in India.
Finally, the global perspective of Business Ethics is discussed. With the evolution of businesses, variety of scams and frauds have also taken place. The knowledge of these scams will help us developing a strong and ethical business set-up for long-term benefit of all the stakeholders.
1. Introduction to Business Ethics
2. Application of Ethical Theories in Business
3. Introduction to Corporate Governance
4. Genesis and Implementation of Corporate Governance in India
5. Global Scenario Business Ethics in Global Economy