Ethics is more than what we have actually been seeing here..in the land which boasts of Gandhi, it's sad to see us falling on the "ethical standards barometer"
Is the unethical behavior that we witness a price we pay for our form of capitalism and free market policies, or are businesses basically amoral?
Where business is concerned, I feel that the starting point is the recognition that whilst Gandhi had genuine saintly qualities, he was also a man of the world, a man who went about with his eyes open and a man who was aware of what was going on, good and bad, around him. Not only was Gandhi very aware of the world of business, we know that he depended on certain industrialists to support a number of his ventures and, to some extent, himself personally.
Some elements of what one can say about Gandhi and business ethics would relate equally as well to today as when he lived – for example, that Gandhi seemed to make little distinction between ethics in the different spheres of life.
The ethics that applied to an individual also generally applied to businesses of all sizes and to individuals in business. He believed a business could and should be conducted with complete honesty. Indeed, a business that was run honestly would be more successful than one which was not.
In business as well as personal life he subscribed to the view : "Honesty is the best policy." A business person had every right to earn a livelihood from their business, although if vast income was earned from the business, the business person should give what he or she did not need to the community. This ideal was contained in his theory of Trusteeship. Fundamentally, Gandhi viewed business as a form of service to the community. This was the spirit in which the business person should approach their labor.
The above aspects of Gandhi’s attitude to business ethics relate to today as much as to during his lifetime. If we are seeking a contemporary context, Gandhi’s thoughts need to undergo interpretation because of the development the business world has undergone in the last 50 years.
Trusteeship was derived from Gandhi’s spirituality.
When corporates fail to meet the objectives that they have set for themselves, a review of corporate governance practices follows and fresh regulation is introduced. However, the public debate on the standards of acceptable corporate behavior appears devoid of moral expectations.
Our corporations should not only be legal and economic beings but moral ones too. Gandhi’s concept of “trusteeship” can serve as a philosophical foundation for businesses and provide requisite moral guidance.
Gandhi, better known for leading India’s nonviolent freedom struggle, advocated “trusteeship” as a moral basis for individuals in positions of wealth. He conceived trusteeship as a system wherein the individual considers that part of his wealth in excess of his needs as being held in trust for the larger good of society and acts accordingly.
Gandhi believed that economic policy and business behavior could not ignore moral values. He stated that nature provided enough to satisfy man’s needs but not man’s greed. Since the rich had wealth in excess of their needs, it was their duty to use the balance for the welfare of the others.
Gandhiji told such words to Jaman Lal Bajaj.
Trusteeship means you are not the owner of the business empire. You are running the business keeping the mind the interests of various stakeholders i.e. shareholders, bankers and lenders, employees, public affecting from pollution due to running of industries, government's share of taxes etc.
As the businessmen were not taking care such issues (taking care of interests of stakeholders); CORPORATE SOCIAL RESPONSIBILITIES, CORPORATE GOVERNANCE etc. have been LODGED on them by LAW.
For more reading and insights into "TRUSTEESHIP" please follow these links:
http://www.ccleague.org/files/public...sourcesAll.pdf
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http://gvpwardha.in <link fixed>
http://stthomas.edu <link updated to site home>
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http://tmu.ac.in <link fixed>
Is the unethical behavior that we witness a price we pay for our form of capitalism and free market policies, or are businesses basically amoral?
Where business is concerned, I feel that the starting point is the recognition that whilst Gandhi had genuine saintly qualities, he was also a man of the world, a man who went about with his eyes open and a man who was aware of what was going on, good and bad, around him. Not only was Gandhi very aware of the world of business, we know that he depended on certain industrialists to support a number of his ventures and, to some extent, himself personally.
Some elements of what one can say about Gandhi and business ethics would relate equally as well to today as when he lived – for example, that Gandhi seemed to make little distinction between ethics in the different spheres of life.
The ethics that applied to an individual also generally applied to businesses of all sizes and to individuals in business. He believed a business could and should be conducted with complete honesty. Indeed, a business that was run honestly would be more successful than one which was not.
In business as well as personal life he subscribed to the view : "Honesty is the best policy." A business person had every right to earn a livelihood from their business, although if vast income was earned from the business, the business person should give what he or she did not need to the community. This ideal was contained in his theory of Trusteeship. Fundamentally, Gandhi viewed business as a form of service to the community. This was the spirit in which the business person should approach their labor.
The above aspects of Gandhi’s attitude to business ethics relate to today as much as to during his lifetime. If we are seeking a contemporary context, Gandhi’s thoughts need to undergo interpretation because of the development the business world has undergone in the last 50 years.
Trusteeship was derived from Gandhi’s spirituality.
When corporates fail to meet the objectives that they have set for themselves, a review of corporate governance practices follows and fresh regulation is introduced. However, the public debate on the standards of acceptable corporate behavior appears devoid of moral expectations.
Our corporations should not only be legal and economic beings but moral ones too. Gandhi’s concept of “trusteeship” can serve as a philosophical foundation for businesses and provide requisite moral guidance.
Gandhi, better known for leading India’s nonviolent freedom struggle, advocated “trusteeship” as a moral basis for individuals in positions of wealth. He conceived trusteeship as a system wherein the individual considers that part of his wealth in excess of his needs as being held in trust for the larger good of society and acts accordingly.
Gandhi believed that economic policy and business behavior could not ignore moral values. He stated that nature provided enough to satisfy man’s needs but not man’s greed. Since the rich had wealth in excess of their needs, it was their duty to use the balance for the welfare of the others.
Gandhiji told such words to Jaman Lal Bajaj.
Trusteeship means you are not the owner of the business empire. You are running the business keeping the mind the interests of various stakeholders i.e. shareholders, bankers and lenders, employees, public affecting from pollution due to running of industries, government's share of taxes etc.
As the businessmen were not taking care such issues (taking care of interests of stakeholders); CORPORATE SOCIAL RESPONSIBILITIES, CORPORATE GOVERNANCE etc. have been LODGED on them by LAW.
For more reading and insights into "TRUSTEESHIP" please follow these links:
http://www.ccleague.org/files/public...sourcesAll.pdf
<link outdated-removed> ( Search On Cite | Search On Google )
http://gvpwardha.in <link fixed>
http://stthomas.edu <link updated to site home>
<link no longer exists - removed>
http://tmu.ac.in <link fixed>