Gemstone Beads: You can choose where to start

Tweet Gemstone Beads have been associated with humans since centuries and have an impressive historical track. They have been used since ancient times to create precious jewellery with varied colors and pattern. Primarily used for decoration, trade money, medium of protection etc, Gemstone Beads have touched virtually almost all religions and culture in human history. …

Silver Beads : Archaeological Treasure that glitters in Jewellery

Tweet Silver Beads have been the buzz word of fashion industry right from prehistoric days across the world. Tribes ranging from North America Continent to Asian Continent have used beads, which symbolize the importance of beads in their cultural history.  But today across the world, Bali silver beads are popular because of the specialized skills …

Social Media Conquers another frontier

Tweet As i have been evaluating the usage of Social Media across different platforms , industries the usage of Social Media to influence the world by Israel Army has been really innovative. Irrespective of the outcomes of War or who is correct(Which is more of a political matter), i think countries across world will surely …

Doctors prescribe Social Media

Tweet Social Media has always surprised many. Its initial intent was just communication between friends. But it has risen above the original image and today it has become a tool that is shaping generations across the world. I read a recent report on the impact of Social Media in medical industry. Here i have expressed …

Can Social Media empower people of Afghanistan

Tweet Afghanistan has limited access to internet, but more people have cellphone. Still militants staying in locations which are probably the world most remote use social media to spread messages. It is surprising that people who banned it once are themselves using it because Social media power has been amazing. To counter the militants,  the …

A New Beginning of Social Media – Revolution in Arab States

Tweet As a child i saw a TV advertisement which showed that it is easy to break a single piece of wood but not multiple woods combined together. That is what is the power of togetherness or We strength. Social Media over the years is smartly developing into a virtual tool that can unite distinct …

Even though globalization affects the world’s economies in a positive way, its negative side should not be forgotten

Tweet Even though globalization affects the world’s economies in a positive way, its negative side should not be forgotten. This has been hotly debated topic today in the India because of policies that will be favoring investments from abroad. The Government claims that this is necessary for the growth of Country. Politicians across the world …

Reading as a stress buster

Tweet Books have been the driving factor for the growth in life. Right from childhood day’s in order to enter good school and then college, knowledge in books was the only source. This was the mantra that was build into my head by my parents and society. Reading books to clear the exams was the …

Ethics in Business: Ethics or Ethical law, what comes first?

I prepared this ppt for a competition organised by “Guajrat NRE coke and economic times” on the eve of global steel conference being held in goa from 11-13th Feb 2010

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Integrity Theme Presentation

The Concept – Background – The world is moving from the 1800s, which were the European century, and the 1900s, which were the American century, into the Asian century. Asian countries are trading with each other, and India is poised to become an innovative economy, not just a location for low-end jobs. As Indian economy is upbeat to take quantum jumps in the growth path, she is today embracing the world for greater foreign investment and economic development. More and more companies across the world are vying for a share in the growing Indian market as India unshackles herself from the socialistic economy of the 60s and 70s to an open modern economy of the new century. This shift will redefine business practices.

The path to become an economic superpower does not merely gets paved by liberalized economic policies formulated at the ministries of commerce and finance. For a sustainable development, a road map and awareness of an ethical business practice is also of similar importance. Many businesses have gained a bad reputation just by being in business. To some people, businesses are interested in making money, and that is the bottom line. Making money is not wrong in itself. It is the manner in which some businesses conduct themselves that brings up the question of ethical behavior.

What are the implications of these differences – and of India’s rise – for business ethics? Ethics need to be anchored to the idea of business as a profession. The most important among them is respecting the law of the land. All those interested in conducting business in India need to learn to respect the law of our country, abide by the tax systems and the process in which contracts are awarded and being executed. This also rises a pertinent question that are our laws transparent enough to conduct business in an ethical manner and is our implementation and monitoring mechanism robust enough to catch the rotten apple and throw it away from the basket. These are matter of intense debate.

There should be global standards of governance, but their application need to be adapted to local conditions. Business should run by being a subsystem to the social system and should promote ethics for improving health and wealth of the society consistently. Among other ideas, there is the need for a shift from a focus on shareholders to a focus on stakeholders and businesses need to work for the welfare of its stakeholders, for a sustainable development of the country and its people.

Ethics in business is a very broad term and includes among other things the social responsibility of business. Designing a proper rehabilitation mechanism of those affected by business and implementing it with utmost sincerity creates an air of trust and faith and removes the many bottlenecks in land acquisition (both forest and agricultural), for mine development and industrial activity. Taking the stakeholders in confidence and carrying them along the development path is the key to any sustainable development. Sensitive approach to the environment and the community in which a business operates speaks volume of the ethical behavior practiced in business, not to mention being fair and transparent to the employee and to the consumer.

And all these need to happen in the set framework of the legal system of the country. Also are our systems geared up to take the challenge thrown open by the changing socio-economic scenario? These are very vital issues that need to be addressed so that the fruits of development get percolated to the entire strata of the society or else the much hyped growth story faces a danger of getting lost in the oblivion, in the murk of distrust and anarchy being fuelled by corruption and unethical behavior of a handful.

The Contest Topic –Ethics in Business: Ethics or Ethical law, what comes first?

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References for vodafone – hutch deal Report

Tweet Below are just some of the reference that i have remembered. there is lot of scattered information available on the web    Business Week(http://www.businessweek.com)  Reserve Bank Of India – Publications   2008 Consulting Report by EQUITEQ  The Strategic Healthcare M&A Report(Walden Group)  The March Group(A private Banking Investment Firm) – www.marchgroup.com  ‘Reflections …