During a Gd session recently happened in my college for the placement assistance team, On the very first day i came across a quite a general topic but it was difficult for me to react, with appropriate words at that time, so now as i have studied a bit about "business ethics", I would like to share my own perception about the whole topic.
Business ethics where they stand in present scenario.After the collapse of wall street last year, an old age debate of business fraternity about being ethical has been rekindled.
Truth is that without ethics,business is not even legitimate.The collapse of firms like lehman brothers and bear sterns has threatened those who are unaware of the menace created by eroding basics of a capitalist economy and being excessively greedy,as the mad rush for revenue and profit generation is no9w reaching its most logical downward trend,the time has come to revisit some of the basic concepts of being ethical in business.
We have had enough of an era when the companies were openly flouting the legal and financial norms to benefit there stake holders.
But business ethics where they stand in last year's disaster rather than a necessity they had became a commodity.
The whole edifice of the new generation of the economy is based on trust , so we can say that the importance of ethical value has also increased with the time.
But the very thing is transparency and clarity in corporate behavior, which is only able to attract both customers and investors.
-mrinal
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