Managerial decision making is classified in three ways; choice about the law, choice about economic and social issues beyond the domain of law – ‘people values’ and choices between self interest and interests of the company-stakeholders. Business Ethics studies of how moral norms apply to these activities and goals of commercial enterprise and how business context poses its unique problems for morality acting as agents of system. Exercising power with responsibility calls for knowledge, perception, a well-developed philosophy and a set of ethical values, which can be systematically developed through pedagogy because these needs arisen to teach ethics. Managers encompass ethical frameworks to function effectively revolving around the anchor base of values. Experts take pleasure in comparing different theories and approaches, what needed in management education and practices is an honest attempt to balance means and ends, processes and products, consumption and preservation, competition and co-operation self and society. This business-framework is perceived as relationship, community, extended family operating in web of moral obligation and privileges. Balancing force energizes every step in this process is a contract ‘grass-root’. Public administers monitor it, while ethics goes further and appeals to humanizing and socializing factors, before touching spiritual realms. Indian traditional concept being oneness with self, others and with Nature becomes yardstick to measure moral values in managerial ethics. Not only individuals, but organizations and corporations also possess strong, amiable and expressive characters. Future successful managers shall be sensitized to the fundamental human values in analyzing social and global issues. Ethics need to be inward looking to the self and outward shining accountable to the outside society. Ethics teachings need to be relevant to Indian context; empirical problem solving approach with student participation must be used. Business Ethics consider a management discipline since birth of social business responsibility.
Loading....