Volume : II, Issue : IV, April - 2013

Business Ethics and Corporate Governance in India

Dr. M. Venkata Subba Reddy, Mahammed Saleem

Abstract :

Business ethics is the study of business situations, activities, and decisions where issues of right and wrong are addressed. Business ethics arises from considering the conditions under which modern business is conducted can be oadly described as concern for the social responsibility of business. The corporate governance framework should promote transparent and efficient markets, be consistent with the rule of law and clearly articulate the division of responsibilities among different supervisory, regulatory and enforcement authorities. Good corporate governance is the glue that holds together responsible business practices, which ensures positive workplace management, marketplace responsibility, environmental stewardship, community engagement, and sustained financial performance. This is even more true now as we work worldwide to restore confidence and promote economic growth. A well-governed company takes a longer-term view that integrates environmental and social responsibilities in analyzing risks, discovering opportunities and allocating capital in the best interests of shareowners. There can be no better way to restore public confidence in both businesses and markets and build a prosperous future. Creating business value to the role of any board is guiding corporate strategy and creating wealth for shareholders. Many new business opportunities are emerging to address corporate citizenship priorities. Forward-thinking businesses are best placed to benefit. Immediate benefits cited by leading companies include improved reputation, higher employee retention rates, greater productivity, and cost benefits through operational improvements and innovation in products and services

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Article: Download PDF   DOI : 10.36106/ijsr  

Cite This Article:

Dr. M. Venkata Subba Reddy,Mahammed Saleem Business Ethics and Corporate Governance in India International Journal of Scientific Research, Vol.II, Issue.IV April 2013

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