$user = $this->Session->read('Auth.User');
//find the group of logged user
$groupId = $user['Group']['id'];
$viewFile = '/var/www/html/newbusinessage.com/app/View/Articles/view.ctp'
$dataForView = array(
'article' => array(
'Article' => array(
'id' => '2452',
'article_category_id' => '134',
'title' => '“In The Long Run, Ethics Pays”',
'sub_title' => '',
'summary' => null,
'content' => '<div>
</div>
<div>
<span style="font-size:14px;"><strong>Prof C Panduranga Bhatta</strong> is a Professor and founder coordinator of Business Ethics and Communication Group and Coordinator of Management Centre for Human Values at the Indian Institute of Management Calcutta (IIMC). He has been continuously involved in academic administration of the IIMC since 1999. In an interview with The Corporate’s <strong>Angila Sharma</strong>, he discussed core principles of business ethics and its relevance in the present context. <strong>Excerpts</strong></span><strong>:</strong></div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>Generally business ethics and CSR are treated as synonymous. How to distinguish them?</strong></span></div>
<div>
Before the introduction of the term Corporate Social Responsibility (CSR), business ethics’ definition was limited to not doing corruption in business. But now, business ethics is defined and understood in a broader way and includes Corporate Social Responsibility. So, I would like to say that CSR is one of the aspects of business ethics. As such, the business houses that are active in their CSR can be called ethical because they have realized that they have a duty to perform. </div>
<div>
</div>
<div>
Earlier, business houses would conduct business in an ethical manner but would not be concerned with the community. But, now, they should also be concerned with the society because they make profit because of the ordinary people around them. So, CSR is a part of business ethics.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>The popular view including that of the government is that business ethics and profit making cannot go hand in hand. What is your opinion on this? </strong></span></div>
<div>
This is the biggest mistake people are making. We can take examples of corporations in the international arena that are making profit ethically. Ethics means taking care of the safety of the products; it means you don’t do wrong to the customers through your products. Business ethics means that corporations allocate certain amount of their profit for the betterment of the people. So, the corporations, which are conducting business in an ethical manner, also earn profit.</div>
<div>
</div>
<div>
This issue can be looked upon in two ways. It depends on the business corporation whether it is looking at the short term or long term. Short-term business means operating for a small period of time, earning profit in any manner and then shifting to a new place. We describe these kinds of businesses as ‘fly by night operators’. This type of activity is completely unethical and we do not consider these types of activities as business. We are talking about business corporations that operate for a long period of time. Such business corporations do not limit themselves to stopping corrupt activities, but widen their view to the entire society. Thus, in the long run, such business houses survive, make profit and are considered as ethical business firms. In the long run, ethics pays.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>In today’s competitive world, how can business houses gain comparative advantage through practicing business ethics?</strong></span></div>
<div>
Globalization can give you advantage as well as disadvantage. Firstly, if you are an ethical company, you are welcomed everywhere. This is because of the reputation of the business house which is built on ethics. Business houses have to take care of ethics. For example: Infosys is a company that is present throughout the world. They have a motto that says ‘Powered by Intellect; Driven by values’. They have been practicing it and people have been watching their loyalty towards their motto.If people are convinced, they will accept the company. This way the business houses can gain comparative advantage. Their ethics provide them the comparative advantage.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>What innovative methods are being practiced or developed to instil human values in the management of business organizations?</strong></span></div>
<div>
Human Values is a very comprehensive term. It includes the behaviour of the business houses towards its customers, employees, community and the environment. The business house has to be concerned about the environment and the community while practicing business. </div>
<div>
</div>
<div>
Business houses can instil human values in their practice through the development of caring attitude.Any business houses should consider human beings as their first priority.As a businessperson, relationship matters a lot. If business houses fail to maintain good relationship with the employees, customers and the community, it fails. </div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>How do you see the situation of business in South Asia?</strong></span></div>
<div>
The situation is picking now because of globalization. People are exposed to the activities of business houses.Earlier, the situation was such that business houses would carry out their work in an unethical manner and to cover it up, they would do some charity and give donations. But, now, how any corporation makes business is noticed and reported. </div>
<div>
</div>
<div>
Another thing that is improving the situation is the international ranking. Every business house wants to participate in the international ranking. For example: Transparency International ranking.The moment you perform corrupt activities or you compromise with the safety of the employees and customers, you are ranked in the top of the most corrupt company. Earlier, companies were not concerned with the country’s image, but now, companies are tied up with the country. If the country does not have good image, nobody would want to do business in that country. Countries are the conglomerates of certain companies. This has helped in improving the situation of business ethics in South Asia and rest of the world.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>Marketing profession is derided as an example of unethical business practice. What is your suggestion to this professional field for overcoming this challenge?</strong></span></div>
<div>
In marketing, what matters the most is the product. Communication becomes very important while marketing. If you are giving false information to the consumers while selling the product, then, you lose reputation. If you are marketing a product that does no harm to the consumers, then it is not unethical.</div>',
'published' => true,
'created' => '2014-01-20',
'modified' => '2014-01-27',
'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
'description' => 'Prof C Panduranga Bhatta is a Professor and founder coordinator of Business Ethics and Communication Group and Coordinator of Management Centre for Human Values at the Indian Institute of Management Calcutta (IIMC). He has been continuously involved in academic administration of the IIMC since 1999. In an interview with The Corporate’s Angila Sharma, he discussed core principles of business ethics and its relevance in the present context. Excerpts:',
'sortorder' => '2295',
'image' => null,
'article_date' => '0000-00-00 00:00:00',
'homepage' => false,
'breaking_news' => false,
'main_news' => false,
'in_scroller' => false,
'user_id' => '0'
),
'ArticleCategory' => array(
'id' => '134',
'name' => 'Interview',
'parentOf' => '119',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '90',
'del_flag' => '0',
'homepage' => false,
'display_in_menu' => false,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 12:22:12'
),
'User' => array(
'password' => '*****',
'id' => null,
'user_detail_id' => null,
'group_id' => null,
'username' => null,
'name' => null,
'email' => null,
'address' => null,
'gender' => null,
'access' => null,
'phone' => null,
'access_type' => null,
'activated' => null,
'sortorder' => null,
'published' => null,
'created' => null,
'last_login' => null,
'ip' => null
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
[maximum depth reached]
)
),
'Slider' => array()
),
'current_user' => null,
'logged_in' => false
)
$article = array(
'Article' => array(
'id' => '2452',
'article_category_id' => '134',
'title' => '“In The Long Run, Ethics Pays”',
'sub_title' => '',
'summary' => null,
'content' => '<div>
</div>
<div>
<span style="font-size:14px;"><strong>Prof C Panduranga Bhatta</strong> is a Professor and founder coordinator of Business Ethics and Communication Group and Coordinator of Management Centre for Human Values at the Indian Institute of Management Calcutta (IIMC). He has been continuously involved in academic administration of the IIMC since 1999. In an interview with The Corporate’s <strong>Angila Sharma</strong>, he discussed core principles of business ethics and its relevance in the present context. <strong>Excerpts</strong></span><strong>:</strong></div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>Generally business ethics and CSR are treated as synonymous. How to distinguish them?</strong></span></div>
<div>
Before the introduction of the term Corporate Social Responsibility (CSR), business ethics’ definition was limited to not doing corruption in business. But now, business ethics is defined and understood in a broader way and includes Corporate Social Responsibility. So, I would like to say that CSR is one of the aspects of business ethics. As such, the business houses that are active in their CSR can be called ethical because they have realized that they have a duty to perform. </div>
<div>
</div>
<div>
Earlier, business houses would conduct business in an ethical manner but would not be concerned with the community. But, now, they should also be concerned with the society because they make profit because of the ordinary people around them. So, CSR is a part of business ethics.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>The popular view including that of the government is that business ethics and profit making cannot go hand in hand. What is your opinion on this? </strong></span></div>
<div>
This is the biggest mistake people are making. We can take examples of corporations in the international arena that are making profit ethically. Ethics means taking care of the safety of the products; it means you don’t do wrong to the customers through your products. Business ethics means that corporations allocate certain amount of their profit for the betterment of the people. So, the corporations, which are conducting business in an ethical manner, also earn profit.</div>
<div>
</div>
<div>
This issue can be looked upon in two ways. It depends on the business corporation whether it is looking at the short term or long term. Short-term business means operating for a small period of time, earning profit in any manner and then shifting to a new place. We describe these kinds of businesses as ‘fly by night operators’. This type of activity is completely unethical and we do not consider these types of activities as business. We are talking about business corporations that operate for a long period of time. Such business corporations do not limit themselves to stopping corrupt activities, but widen their view to the entire society. Thus, in the long run, such business houses survive, make profit and are considered as ethical business firms. In the long run, ethics pays.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>In today’s competitive world, how can business houses gain comparative advantage through practicing business ethics?</strong></span></div>
<div>
Globalization can give you advantage as well as disadvantage. Firstly, if you are an ethical company, you are welcomed everywhere. This is because of the reputation of the business house which is built on ethics. Business houses have to take care of ethics. For example: Infosys is a company that is present throughout the world. They have a motto that says ‘Powered by Intellect; Driven by values’. They have been practicing it and people have been watching their loyalty towards their motto.If people are convinced, they will accept the company. This way the business houses can gain comparative advantage. Their ethics provide them the comparative advantage.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>What innovative methods are being practiced or developed to instil human values in the management of business organizations?</strong></span></div>
<div>
Human Values is a very comprehensive term. It includes the behaviour of the business houses towards its customers, employees, community and the environment. The business house has to be concerned about the environment and the community while practicing business. </div>
<div>
</div>
<div>
Business houses can instil human values in their practice through the development of caring attitude.Any business houses should consider human beings as their first priority.As a businessperson, relationship matters a lot. If business houses fail to maintain good relationship with the employees, customers and the community, it fails. </div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>How do you see the situation of business in South Asia?</strong></span></div>
<div>
The situation is picking now because of globalization. People are exposed to the activities of business houses.Earlier, the situation was such that business houses would carry out their work in an unethical manner and to cover it up, they would do some charity and give donations. But, now, how any corporation makes business is noticed and reported. </div>
<div>
</div>
<div>
Another thing that is improving the situation is the international ranking. Every business house wants to participate in the international ranking. For example: Transparency International ranking.The moment you perform corrupt activities or you compromise with the safety of the employees and customers, you are ranked in the top of the most corrupt company. Earlier, companies were not concerned with the country’s image, but now, companies are tied up with the country. If the country does not have good image, nobody would want to do business in that country. Countries are the conglomerates of certain companies. This has helped in improving the situation of business ethics in South Asia and rest of the world.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>Marketing profession is derided as an example of unethical business practice. What is your suggestion to this professional field for overcoming this challenge?</strong></span></div>
<div>
In marketing, what matters the most is the product. Communication becomes very important while marketing. If you are giving false information to the consumers while selling the product, then, you lose reputation. If you are marketing a product that does no harm to the consumers, then it is not unethical.</div>',
'published' => true,
'created' => '2014-01-20',
'modified' => '2014-01-27',
'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
'description' => 'Prof C Panduranga Bhatta is a Professor and founder coordinator of Business Ethics and Communication Group and Coordinator of Management Centre for Human Values at the Indian Institute of Management Calcutta (IIMC). He has been continuously involved in academic administration of the IIMC since 1999. In an interview with The Corporate’s Angila Sharma, he discussed core principles of business ethics and its relevance in the present context. Excerpts:',
'sortorder' => '2295',
'image' => null,
'article_date' => '0000-00-00 00:00:00',
'homepage' => false,
'breaking_news' => false,
'main_news' => false,
'in_scroller' => false,
'user_id' => '0'
),
'ArticleCategory' => array(
'id' => '134',
'name' => 'Interview',
'parentOf' => '119',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '90',
'del_flag' => '0',
'homepage' => false,
'display_in_menu' => false,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 12:22:12'
),
'User' => array(
'password' => '*****',
'id' => null,
'user_detail_id' => null,
'group_id' => null,
'username' => null,
'name' => null,
'email' => null,
'address' => null,
'gender' => null,
'access' => null,
'phone' => null,
'access_type' => null,
'activated' => null,
'sortorder' => null,
'published' => null,
'created' => null,
'last_login' => null,
'ip' => null
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
'article_id' => '2452',
'hit' => '350'
)
),
'Slider' => array()
)
$current_user = null
$logged_in = false
$image = 'https://www.old.newbusinessage.com/app/webroot/img/news/'
$user = null
include - APP/View/Articles/view.ctp, line 115
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
Notice (8): Trying to access array offset on value of type null [APP/View/Articles/view.ctp, line 115]
$user = $this->Session->read('Auth.User');
//find the group of logged user
$groupId = $user['Group']['id'];
$viewFile = '/var/www/html/newbusinessage.com/app/View/Articles/view.ctp'
$dataForView = array(
'article' => array(
'Article' => array(
'id' => '2452',
'article_category_id' => '134',
'title' => '“In The Long Run, Ethics Pays”',
'sub_title' => '',
'summary' => null,
'content' => '<div>
</div>
<div>
<span style="font-size:14px;"><strong>Prof C Panduranga Bhatta</strong> is a Professor and founder coordinator of Business Ethics and Communication Group and Coordinator of Management Centre for Human Values at the Indian Institute of Management Calcutta (IIMC). He has been continuously involved in academic administration of the IIMC since 1999. In an interview with The Corporate’s <strong>Angila Sharma</strong>, he discussed core principles of business ethics and its relevance in the present context. <strong>Excerpts</strong></span><strong>:</strong></div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>Generally business ethics and CSR are treated as synonymous. How to distinguish them?</strong></span></div>
<div>
Before the introduction of the term Corporate Social Responsibility (CSR), business ethics’ definition was limited to not doing corruption in business. But now, business ethics is defined and understood in a broader way and includes Corporate Social Responsibility. So, I would like to say that CSR is one of the aspects of business ethics. As such, the business houses that are active in their CSR can be called ethical because they have realized that they have a duty to perform. </div>
<div>
</div>
<div>
Earlier, business houses would conduct business in an ethical manner but would not be concerned with the community. But, now, they should also be concerned with the society because they make profit because of the ordinary people around them. So, CSR is a part of business ethics.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>The popular view including that of the government is that business ethics and profit making cannot go hand in hand. What is your opinion on this? </strong></span></div>
<div>
This is the biggest mistake people are making. We can take examples of corporations in the international arena that are making profit ethically. Ethics means taking care of the safety of the products; it means you don’t do wrong to the customers through your products. Business ethics means that corporations allocate certain amount of their profit for the betterment of the people. So, the corporations, which are conducting business in an ethical manner, also earn profit.</div>
<div>
</div>
<div>
This issue can be looked upon in two ways. It depends on the business corporation whether it is looking at the short term or long term. Short-term business means operating for a small period of time, earning profit in any manner and then shifting to a new place. We describe these kinds of businesses as ‘fly by night operators’. This type of activity is completely unethical and we do not consider these types of activities as business. We are talking about business corporations that operate for a long period of time. Such business corporations do not limit themselves to stopping corrupt activities, but widen their view to the entire society. Thus, in the long run, such business houses survive, make profit and are considered as ethical business firms. In the long run, ethics pays.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>In today’s competitive world, how can business houses gain comparative advantage through practicing business ethics?</strong></span></div>
<div>
Globalization can give you advantage as well as disadvantage. Firstly, if you are an ethical company, you are welcomed everywhere. This is because of the reputation of the business house which is built on ethics. Business houses have to take care of ethics. For example: Infosys is a company that is present throughout the world. They have a motto that says ‘Powered by Intellect; Driven by values’. They have been practicing it and people have been watching their loyalty towards their motto.If people are convinced, they will accept the company. This way the business houses can gain comparative advantage. Their ethics provide them the comparative advantage.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>What innovative methods are being practiced or developed to instil human values in the management of business organizations?</strong></span></div>
<div>
Human Values is a very comprehensive term. It includes the behaviour of the business houses towards its customers, employees, community and the environment. The business house has to be concerned about the environment and the community while practicing business. </div>
<div>
</div>
<div>
Business houses can instil human values in their practice through the development of caring attitude.Any business houses should consider human beings as their first priority.As a businessperson, relationship matters a lot. If business houses fail to maintain good relationship with the employees, customers and the community, it fails. </div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>How do you see the situation of business in South Asia?</strong></span></div>
<div>
The situation is picking now because of globalization. People are exposed to the activities of business houses.Earlier, the situation was such that business houses would carry out their work in an unethical manner and to cover it up, they would do some charity and give donations. But, now, how any corporation makes business is noticed and reported. </div>
<div>
</div>
<div>
Another thing that is improving the situation is the international ranking. Every business house wants to participate in the international ranking. For example: Transparency International ranking.The moment you perform corrupt activities or you compromise with the safety of the employees and customers, you are ranked in the top of the most corrupt company. Earlier, companies were not concerned with the country’s image, but now, companies are tied up with the country. If the country does not have good image, nobody would want to do business in that country. Countries are the conglomerates of certain companies. This has helped in improving the situation of business ethics in South Asia and rest of the world.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>Marketing profession is derided as an example of unethical business practice. What is your suggestion to this professional field for overcoming this challenge?</strong></span></div>
<div>
In marketing, what matters the most is the product. Communication becomes very important while marketing. If you are giving false information to the consumers while selling the product, then, you lose reputation. If you are marketing a product that does no harm to the consumers, then it is not unethical.</div>',
'published' => true,
'created' => '2014-01-20',
'modified' => '2014-01-27',
'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
'description' => 'Prof C Panduranga Bhatta is a Professor and founder coordinator of Business Ethics and Communication Group and Coordinator of Management Centre for Human Values at the Indian Institute of Management Calcutta (IIMC). He has been continuously involved in academic administration of the IIMC since 1999. In an interview with The Corporate’s Angila Sharma, he discussed core principles of business ethics and its relevance in the present context. Excerpts:',
'sortorder' => '2295',
'image' => null,
'article_date' => '0000-00-00 00:00:00',
'homepage' => false,
'breaking_news' => false,
'main_news' => false,
'in_scroller' => false,
'user_id' => '0'
),
'ArticleCategory' => array(
'id' => '134',
'name' => 'Interview',
'parentOf' => '119',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '90',
'del_flag' => '0',
'homepage' => false,
'display_in_menu' => false,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 12:22:12'
),
'User' => array(
'password' => '*****',
'id' => null,
'user_detail_id' => null,
'group_id' => null,
'username' => null,
'name' => null,
'email' => null,
'address' => null,
'gender' => null,
'access' => null,
'phone' => null,
'access_type' => null,
'activated' => null,
'sortorder' => null,
'published' => null,
'created' => null,
'last_login' => null,
'ip' => null
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
[maximum depth reached]
)
),
'Slider' => array()
),
'current_user' => null,
'logged_in' => false
)
$article = array(
'Article' => array(
'id' => '2452',
'article_category_id' => '134',
'title' => '“In The Long Run, Ethics Pays”',
'sub_title' => '',
'summary' => null,
'content' => '<div>
</div>
<div>
<span style="font-size:14px;"><strong>Prof C Panduranga Bhatta</strong> is a Professor and founder coordinator of Business Ethics and Communication Group and Coordinator of Management Centre for Human Values at the Indian Institute of Management Calcutta (IIMC). He has been continuously involved in academic administration of the IIMC since 1999. In an interview with The Corporate’s <strong>Angila Sharma</strong>, he discussed core principles of business ethics and its relevance in the present context. <strong>Excerpts</strong></span><strong>:</strong></div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>Generally business ethics and CSR are treated as synonymous. How to distinguish them?</strong></span></div>
<div>
Before the introduction of the term Corporate Social Responsibility (CSR), business ethics’ definition was limited to not doing corruption in business. But now, business ethics is defined and understood in a broader way and includes Corporate Social Responsibility. So, I would like to say that CSR is one of the aspects of business ethics. As such, the business houses that are active in their CSR can be called ethical because they have realized that they have a duty to perform. </div>
<div>
</div>
<div>
Earlier, business houses would conduct business in an ethical manner but would not be concerned with the community. But, now, they should also be concerned with the society because they make profit because of the ordinary people around them. So, CSR is a part of business ethics.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>The popular view including that of the government is that business ethics and profit making cannot go hand in hand. What is your opinion on this? </strong></span></div>
<div>
This is the biggest mistake people are making. We can take examples of corporations in the international arena that are making profit ethically. Ethics means taking care of the safety of the products; it means you don’t do wrong to the customers through your products. Business ethics means that corporations allocate certain amount of their profit for the betterment of the people. So, the corporations, which are conducting business in an ethical manner, also earn profit.</div>
<div>
</div>
<div>
This issue can be looked upon in two ways. It depends on the business corporation whether it is looking at the short term or long term. Short-term business means operating for a small period of time, earning profit in any manner and then shifting to a new place. We describe these kinds of businesses as ‘fly by night operators’. This type of activity is completely unethical and we do not consider these types of activities as business. We are talking about business corporations that operate for a long period of time. Such business corporations do not limit themselves to stopping corrupt activities, but widen their view to the entire society. Thus, in the long run, such business houses survive, make profit and are considered as ethical business firms. In the long run, ethics pays.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>In today’s competitive world, how can business houses gain comparative advantage through practicing business ethics?</strong></span></div>
<div>
Globalization can give you advantage as well as disadvantage. Firstly, if you are an ethical company, you are welcomed everywhere. This is because of the reputation of the business house which is built on ethics. Business houses have to take care of ethics. For example: Infosys is a company that is present throughout the world. They have a motto that says ‘Powered by Intellect; Driven by values’. They have been practicing it and people have been watching their loyalty towards their motto.If people are convinced, they will accept the company. This way the business houses can gain comparative advantage. Their ethics provide them the comparative advantage.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>What innovative methods are being practiced or developed to instil human values in the management of business organizations?</strong></span></div>
<div>
Human Values is a very comprehensive term. It includes the behaviour of the business houses towards its customers, employees, community and the environment. The business house has to be concerned about the environment and the community while practicing business. </div>
<div>
</div>
<div>
Business houses can instil human values in their practice through the development of caring attitude.Any business houses should consider human beings as their first priority.As a businessperson, relationship matters a lot. If business houses fail to maintain good relationship with the employees, customers and the community, it fails. </div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>How do you see the situation of business in South Asia?</strong></span></div>
<div>
The situation is picking now because of globalization. People are exposed to the activities of business houses.Earlier, the situation was such that business houses would carry out their work in an unethical manner and to cover it up, they would do some charity and give donations. But, now, how any corporation makes business is noticed and reported. </div>
<div>
</div>
<div>
Another thing that is improving the situation is the international ranking. Every business house wants to participate in the international ranking. For example: Transparency International ranking.The moment you perform corrupt activities or you compromise with the safety of the employees and customers, you are ranked in the top of the most corrupt company. Earlier, companies were not concerned with the country’s image, but now, companies are tied up with the country. If the country does not have good image, nobody would want to do business in that country. Countries are the conglomerates of certain companies. This has helped in improving the situation of business ethics in South Asia and rest of the world.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>Marketing profession is derided as an example of unethical business practice. What is your suggestion to this professional field for overcoming this challenge?</strong></span></div>
<div>
In marketing, what matters the most is the product. Communication becomes very important while marketing. If you are giving false information to the consumers while selling the product, then, you lose reputation. If you are marketing a product that does no harm to the consumers, then it is not unethical.</div>',
'published' => true,
'created' => '2014-01-20',
'modified' => '2014-01-27',
'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
'description' => 'Prof C Panduranga Bhatta is a Professor and founder coordinator of Business Ethics and Communication Group and Coordinator of Management Centre for Human Values at the Indian Institute of Management Calcutta (IIMC). He has been continuously involved in academic administration of the IIMC since 1999. In an interview with The Corporate’s Angila Sharma, he discussed core principles of business ethics and its relevance in the present context. Excerpts:',
'sortorder' => '2295',
'image' => null,
'article_date' => '0000-00-00 00:00:00',
'homepage' => false,
'breaking_news' => false,
'main_news' => false,
'in_scroller' => false,
'user_id' => '0'
),
'ArticleCategory' => array(
'id' => '134',
'name' => 'Interview',
'parentOf' => '119',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '90',
'del_flag' => '0',
'homepage' => false,
'display_in_menu' => false,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 12:22:12'
),
'User' => array(
'password' => '*****',
'id' => null,
'user_detail_id' => null,
'group_id' => null,
'username' => null,
'name' => null,
'email' => null,
'address' => null,
'gender' => null,
'access' => null,
'phone' => null,
'access_type' => null,
'activated' => null,
'sortorder' => null,
'published' => null,
'created' => null,
'last_login' => null,
'ip' => null
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
'article_id' => '2452',
'hit' => '350'
)
),
'Slider' => array()
)
$current_user = null
$logged_in = false
$image = 'https://www.old.newbusinessage.com/app/webroot/img/news/'
$user = null
include - APP/View/Articles/view.ctp, line 115
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
Notice (8): Trying to access array offset on value of type null [APP/View/Articles/view.ctp, line 116]
//find the group of logged user
$groupId = $user['Group']['id'];
$user_id=$user["id"];
$viewFile = '/var/www/html/newbusinessage.com/app/View/Articles/view.ctp'
$dataForView = array(
'article' => array(
'Article' => array(
'id' => '2452',
'article_category_id' => '134',
'title' => '“In The Long Run, Ethics Pays”',
'sub_title' => '',
'summary' => null,
'content' => '<div>
</div>
<div>
<span style="font-size:14px;"><strong>Prof C Panduranga Bhatta</strong> is a Professor and founder coordinator of Business Ethics and Communication Group and Coordinator of Management Centre for Human Values at the Indian Institute of Management Calcutta (IIMC). He has been continuously involved in academic administration of the IIMC since 1999. In an interview with The Corporate’s <strong>Angila Sharma</strong>, he discussed core principles of business ethics and its relevance in the present context. <strong>Excerpts</strong></span><strong>:</strong></div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>Generally business ethics and CSR are treated as synonymous. How to distinguish them?</strong></span></div>
<div>
Before the introduction of the term Corporate Social Responsibility (CSR), business ethics’ definition was limited to not doing corruption in business. But now, business ethics is defined and understood in a broader way and includes Corporate Social Responsibility. So, I would like to say that CSR is one of the aspects of business ethics. As such, the business houses that are active in their CSR can be called ethical because they have realized that they have a duty to perform. </div>
<div>
</div>
<div>
Earlier, business houses would conduct business in an ethical manner but would not be concerned with the community. But, now, they should also be concerned with the society because they make profit because of the ordinary people around them. So, CSR is a part of business ethics.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>The popular view including that of the government is that business ethics and profit making cannot go hand in hand. What is your opinion on this? </strong></span></div>
<div>
This is the biggest mistake people are making. We can take examples of corporations in the international arena that are making profit ethically. Ethics means taking care of the safety of the products; it means you don’t do wrong to the customers through your products. Business ethics means that corporations allocate certain amount of their profit for the betterment of the people. So, the corporations, which are conducting business in an ethical manner, also earn profit.</div>
<div>
</div>
<div>
This issue can be looked upon in two ways. It depends on the business corporation whether it is looking at the short term or long term. Short-term business means operating for a small period of time, earning profit in any manner and then shifting to a new place. We describe these kinds of businesses as ‘fly by night operators’. This type of activity is completely unethical and we do not consider these types of activities as business. We are talking about business corporations that operate for a long period of time. Such business corporations do not limit themselves to stopping corrupt activities, but widen their view to the entire society. Thus, in the long run, such business houses survive, make profit and are considered as ethical business firms. In the long run, ethics pays.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>In today’s competitive world, how can business houses gain comparative advantage through practicing business ethics?</strong></span></div>
<div>
Globalization can give you advantage as well as disadvantage. Firstly, if you are an ethical company, you are welcomed everywhere. This is because of the reputation of the business house which is built on ethics. Business houses have to take care of ethics. For example: Infosys is a company that is present throughout the world. They have a motto that says ‘Powered by Intellect; Driven by values’. They have been practicing it and people have been watching their loyalty towards their motto.If people are convinced, they will accept the company. This way the business houses can gain comparative advantage. Their ethics provide them the comparative advantage.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>What innovative methods are being practiced or developed to instil human values in the management of business organizations?</strong></span></div>
<div>
Human Values is a very comprehensive term. It includes the behaviour of the business houses towards its customers, employees, community and the environment. The business house has to be concerned about the environment and the community while practicing business. </div>
<div>
</div>
<div>
Business houses can instil human values in their practice through the development of caring attitude.Any business houses should consider human beings as their first priority.As a businessperson, relationship matters a lot. If business houses fail to maintain good relationship with the employees, customers and the community, it fails. </div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>How do you see the situation of business in South Asia?</strong></span></div>
<div>
The situation is picking now because of globalization. People are exposed to the activities of business houses.Earlier, the situation was such that business houses would carry out their work in an unethical manner and to cover it up, they would do some charity and give donations. But, now, how any corporation makes business is noticed and reported. </div>
<div>
</div>
<div>
Another thing that is improving the situation is the international ranking. Every business house wants to participate in the international ranking. For example: Transparency International ranking.The moment you perform corrupt activities or you compromise with the safety of the employees and customers, you are ranked in the top of the most corrupt company. Earlier, companies were not concerned with the country’s image, but now, companies are tied up with the country. If the country does not have good image, nobody would want to do business in that country. Countries are the conglomerates of certain companies. This has helped in improving the situation of business ethics in South Asia and rest of the world.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>Marketing profession is derided as an example of unethical business practice. What is your suggestion to this professional field for overcoming this challenge?</strong></span></div>
<div>
In marketing, what matters the most is the product. Communication becomes very important while marketing. If you are giving false information to the consumers while selling the product, then, you lose reputation. If you are marketing a product that does no harm to the consumers, then it is not unethical.</div>',
'published' => true,
'created' => '2014-01-20',
'modified' => '2014-01-27',
'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
'description' => 'Prof C Panduranga Bhatta is a Professor and founder coordinator of Business Ethics and Communication Group and Coordinator of Management Centre for Human Values at the Indian Institute of Management Calcutta (IIMC). He has been continuously involved in academic administration of the IIMC since 1999. In an interview with The Corporate’s Angila Sharma, he discussed core principles of business ethics and its relevance in the present context. Excerpts:',
'sortorder' => '2295',
'image' => null,
'article_date' => '0000-00-00 00:00:00',
'homepage' => false,
'breaking_news' => false,
'main_news' => false,
'in_scroller' => false,
'user_id' => '0'
),
'ArticleCategory' => array(
'id' => '134',
'name' => 'Interview',
'parentOf' => '119',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '90',
'del_flag' => '0',
'homepage' => false,
'display_in_menu' => false,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 12:22:12'
),
'User' => array(
'password' => '*****',
'id' => null,
'user_detail_id' => null,
'group_id' => null,
'username' => null,
'name' => null,
'email' => null,
'address' => null,
'gender' => null,
'access' => null,
'phone' => null,
'access_type' => null,
'activated' => null,
'sortorder' => null,
'published' => null,
'created' => null,
'last_login' => null,
'ip' => null
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
[maximum depth reached]
)
),
'Slider' => array()
),
'current_user' => null,
'logged_in' => false
)
$article = array(
'Article' => array(
'id' => '2452',
'article_category_id' => '134',
'title' => '“In The Long Run, Ethics Pays”',
'sub_title' => '',
'summary' => null,
'content' => '<div>
</div>
<div>
<span style="font-size:14px;"><strong>Prof C Panduranga Bhatta</strong> is a Professor and founder coordinator of Business Ethics and Communication Group and Coordinator of Management Centre for Human Values at the Indian Institute of Management Calcutta (IIMC). He has been continuously involved in academic administration of the IIMC since 1999. In an interview with The Corporate’s <strong>Angila Sharma</strong>, he discussed core principles of business ethics and its relevance in the present context. <strong>Excerpts</strong></span><strong>:</strong></div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>Generally business ethics and CSR are treated as synonymous. How to distinguish them?</strong></span></div>
<div>
Before the introduction of the term Corporate Social Responsibility (CSR), business ethics’ definition was limited to not doing corruption in business. But now, business ethics is defined and understood in a broader way and includes Corporate Social Responsibility. So, I would like to say that CSR is one of the aspects of business ethics. As such, the business houses that are active in their CSR can be called ethical because they have realized that they have a duty to perform. </div>
<div>
</div>
<div>
Earlier, business houses would conduct business in an ethical manner but would not be concerned with the community. But, now, they should also be concerned with the society because they make profit because of the ordinary people around them. So, CSR is a part of business ethics.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>The popular view including that of the government is that business ethics and profit making cannot go hand in hand. What is your opinion on this? </strong></span></div>
<div>
This is the biggest mistake people are making. We can take examples of corporations in the international arena that are making profit ethically. Ethics means taking care of the safety of the products; it means you don’t do wrong to the customers through your products. Business ethics means that corporations allocate certain amount of their profit for the betterment of the people. So, the corporations, which are conducting business in an ethical manner, also earn profit.</div>
<div>
</div>
<div>
This issue can be looked upon in two ways. It depends on the business corporation whether it is looking at the short term or long term. Short-term business means operating for a small period of time, earning profit in any manner and then shifting to a new place. We describe these kinds of businesses as ‘fly by night operators’. This type of activity is completely unethical and we do not consider these types of activities as business. We are talking about business corporations that operate for a long period of time. Such business corporations do not limit themselves to stopping corrupt activities, but widen their view to the entire society. Thus, in the long run, such business houses survive, make profit and are considered as ethical business firms. In the long run, ethics pays.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>In today’s competitive world, how can business houses gain comparative advantage through practicing business ethics?</strong></span></div>
<div>
Globalization can give you advantage as well as disadvantage. Firstly, if you are an ethical company, you are welcomed everywhere. This is because of the reputation of the business house which is built on ethics. Business houses have to take care of ethics. For example: Infosys is a company that is present throughout the world. They have a motto that says ‘Powered by Intellect; Driven by values’. They have been practicing it and people have been watching their loyalty towards their motto.If people are convinced, they will accept the company. This way the business houses can gain comparative advantage. Their ethics provide them the comparative advantage.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>What innovative methods are being practiced or developed to instil human values in the management of business organizations?</strong></span></div>
<div>
Human Values is a very comprehensive term. It includes the behaviour of the business houses towards its customers, employees, community and the environment. The business house has to be concerned about the environment and the community while practicing business. </div>
<div>
</div>
<div>
Business houses can instil human values in their practice through the development of caring attitude.Any business houses should consider human beings as their first priority.As a businessperson, relationship matters a lot. If business houses fail to maintain good relationship with the employees, customers and the community, it fails. </div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>How do you see the situation of business in South Asia?</strong></span></div>
<div>
The situation is picking now because of globalization. People are exposed to the activities of business houses.Earlier, the situation was such that business houses would carry out their work in an unethical manner and to cover it up, they would do some charity and give donations. But, now, how any corporation makes business is noticed and reported. </div>
<div>
</div>
<div>
Another thing that is improving the situation is the international ranking. Every business house wants to participate in the international ranking. For example: Transparency International ranking.The moment you perform corrupt activities or you compromise with the safety of the employees and customers, you are ranked in the top of the most corrupt company. Earlier, companies were not concerned with the country’s image, but now, companies are tied up with the country. If the country does not have good image, nobody would want to do business in that country. Countries are the conglomerates of certain companies. This has helped in improving the situation of business ethics in South Asia and rest of the world.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>Marketing profession is derided as an example of unethical business practice. What is your suggestion to this professional field for overcoming this challenge?</strong></span></div>
<div>
In marketing, what matters the most is the product. Communication becomes very important while marketing. If you are giving false information to the consumers while selling the product, then, you lose reputation. If you are marketing a product that does no harm to the consumers, then it is not unethical.</div>',
'published' => true,
'created' => '2014-01-20',
'modified' => '2014-01-27',
'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
'description' => 'Prof C Panduranga Bhatta is a Professor and founder coordinator of Business Ethics and Communication Group and Coordinator of Management Centre for Human Values at the Indian Institute of Management Calcutta (IIMC). He has been continuously involved in academic administration of the IIMC since 1999. In an interview with The Corporate’s Angila Sharma, he discussed core principles of business ethics and its relevance in the present context. Excerpts:',
'sortorder' => '2295',
'image' => null,
'article_date' => '0000-00-00 00:00:00',
'homepage' => false,
'breaking_news' => false,
'main_news' => false,
'in_scroller' => false,
'user_id' => '0'
),
'ArticleCategory' => array(
'id' => '134',
'name' => 'Interview',
'parentOf' => '119',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '90',
'del_flag' => '0',
'homepage' => false,
'display_in_menu' => false,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 12:22:12'
),
'User' => array(
'password' => '*****',
'id' => null,
'user_detail_id' => null,
'group_id' => null,
'username' => null,
'name' => null,
'email' => null,
'address' => null,
'gender' => null,
'access' => null,
'phone' => null,
'access_type' => null,
'activated' => null,
'sortorder' => null,
'published' => null,
'created' => null,
'last_login' => null,
'ip' => null
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
'article_id' => '2452',
'hit' => '350'
)
),
'Slider' => array()
)
$current_user = null
$logged_in = false
$image = 'https://www.old.newbusinessage.com/app/webroot/img/news/'
$user = null
$groupId = null
include - APP/View/Articles/view.ctp, line 116
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
Prof C Panduranga Bhatta is a Professor and founder coordinator of Business Ethics and Communication Group and Coordinator of Management Centre for Human Values at the Indian Institute of Management Calcutta (IIMC). He has been continuously involved in academic administration of the IIMC since 1999. In an interview with The Corporate’s Angila Sharma, he discussed core principles of business ethics and its relevance in the present context. Excerpts:
Generally business ethics and CSR are treated as synonymous. How to distinguish them?
Before the introduction of the term Corporate Social Responsibility (CSR), business ethics’ definition was limited to not doing corruption in business. But now, business ethics is defined and understood in a broader way and includes Corporate Social Responsibility. So, I would like to say that CSR is one of the aspects of business ethics. As such, the business houses that are active in their CSR can be called ethical because they have realized that they have a duty to perform.
Earlier, business houses would conduct business in an ethical manner but would not be concerned with the community. But, now, they should also be concerned with the society because they make profit because of the ordinary people around them. So, CSR is a part of business ethics.
The popular view including that of the government is that business ethics and profit making cannot go hand in hand. What is your opinion on this?
This is the biggest mistake people are making. We can take examples of corporations in the international arena that are making profit ethically. Ethics means taking care of the safety of the products; it means you don’t do wrong to the customers through your products. Business ethics means that corporations allocate certain amount of their profit for the betterment of the people. So, the corporations, which are conducting business in an ethical manner, also earn profit.
This issue can be looked upon in two ways. It depends on the business corporation whether it is looking at the short term or long term. Short-term business means operating for a small period of time, earning profit in any manner and then shifting to a new place. We describe these kinds of businesses as ‘fly by night operators’. This type of activity is completely unethical and we do not consider these types of activities as business. We are talking about business corporations that operate for a long period of time. Such business corporations do not limit themselves to stopping corrupt activities, but widen their view to the entire society. Thus, in the long run, such business houses survive, make profit and are considered as ethical business firms. In the long run, ethics pays.
In today’s competitive world, how can business houses gain comparative advantage through practicing business ethics?
Globalization can give you advantage as well as disadvantage. Firstly, if you are an ethical company, you are welcomed everywhere. This is because of the reputation of the business house which is built on ethics. Business houses have to take care of ethics. For example: Infosys is a company that is present throughout the world. They have a motto that says ‘Powered by Intellect; Driven by values’. They have been practicing it and people have been watching their loyalty towards their motto.If people are convinced, they will accept the company. This way the business houses can gain comparative advantage. Their ethics provide them the comparative advantage.
What innovative methods are being practiced or developed to instil human values in the management of business organizations?
Human Values is a very comprehensive term. It includes the behaviour of the business houses towards its customers, employees, community and the environment. The business house has to be concerned about the environment and the community while practicing business.
Business houses can instil human values in their practice through the development of caring attitude.Any business houses should consider human beings as their first priority.As a businessperson, relationship matters a lot. If business houses fail to maintain good relationship with the employees, customers and the community, it fails.
How do you see the situation of business in South Asia?
The situation is picking now because of globalization. People are exposed to the activities of business houses.Earlier, the situation was such that business houses would carry out their work in an unethical manner and to cover it up, they would do some charity and give donations. But, now, how any corporation makes business is noticed and reported.
Another thing that is improving the situation is the international ranking. Every business house wants to participate in the international ranking. For example: Transparency International ranking.The moment you perform corrupt activities or you compromise with the safety of the employees and customers, you are ranked in the top of the most corrupt company. Earlier, companies were not concerned with the country’s image, but now, companies are tied up with the country. If the country does not have good image, nobody would want to do business in that country. Countries are the conglomerates of certain companies. This has helped in improving the situation of business ethics in South Asia and rest of the world.
Marketing profession is derided as an example of unethical business practice. What is your suggestion to this professional field for overcoming this challenge?
In marketing, what matters the most is the product. Communication becomes very important while marketing. If you are giving false information to the consumers while selling the product, then, you lose reputation. If you are marketing a product that does no harm to the consumers, then it is not unethical.
FormHelper::create() - CORE/Cake/View/Helper/FormHelper.php, line 383
include - APP/View/Articles/view.ctp, line 273
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp'
$dataForView = array(
'article' => array(
'Article' => array(
'id' => '2452',
'article_category_id' => '134',
'title' => '“In The Long Run, Ethics Pays”',
'sub_title' => '',
'summary' => null,
'content' => '<div>
</div>
<div>
<span style="font-size:14px;"><strong>Prof C Panduranga Bhatta</strong> is a Professor and founder coordinator of Business Ethics and Communication Group and Coordinator of Management Centre for Human Values at the Indian Institute of Management Calcutta (IIMC). He has been continuously involved in academic administration of the IIMC since 1999. In an interview with The Corporate’s <strong>Angila Sharma</strong>, he discussed core principles of business ethics and its relevance in the present context. <strong>Excerpts</strong></span><strong>:</strong></div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>Generally business ethics and CSR are treated as synonymous. How to distinguish them?</strong></span></div>
<div>
Before the introduction of the term Corporate Social Responsibility (CSR), business ethics’ definition was limited to not doing corruption in business. But now, business ethics is defined and understood in a broader way and includes Corporate Social Responsibility. So, I would like to say that CSR is one of the aspects of business ethics. As such, the business houses that are active in their CSR can be called ethical because they have realized that they have a duty to perform. </div>
<div>
</div>
<div>
Earlier, business houses would conduct business in an ethical manner but would not be concerned with the community. But, now, they should also be concerned with the society because they make profit because of the ordinary people around them. So, CSR is a part of business ethics.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>The popular view including that of the government is that business ethics and profit making cannot go hand in hand. What is your opinion on this? </strong></span></div>
<div>
This is the biggest mistake people are making. We can take examples of corporations in the international arena that are making profit ethically. Ethics means taking care of the safety of the products; it means you don’t do wrong to the customers through your products. Business ethics means that corporations allocate certain amount of their profit for the betterment of the people. So, the corporations, which are conducting business in an ethical manner, also earn profit.</div>
<div>
</div>
<div>
This issue can be looked upon in two ways. It depends on the business corporation whether it is looking at the short term or long term. Short-term business means operating for a small period of time, earning profit in any manner and then shifting to a new place. We describe these kinds of businesses as ‘fly by night operators’. This type of activity is completely unethical and we do not consider these types of activities as business. We are talking about business corporations that operate for a long period of time. Such business corporations do not limit themselves to stopping corrupt activities, but widen their view to the entire society. Thus, in the long run, such business houses survive, make profit and are considered as ethical business firms. In the long run, ethics pays.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>In today’s competitive world, how can business houses gain comparative advantage through practicing business ethics?</strong></span></div>
<div>
Globalization can give you advantage as well as disadvantage. Firstly, if you are an ethical company, you are welcomed everywhere. This is because of the reputation of the business house which is built on ethics. Business houses have to take care of ethics. For example: Infosys is a company that is present throughout the world. They have a motto that says ‘Powered by Intellect; Driven by values’. They have been practicing it and people have been watching their loyalty towards their motto.If people are convinced, they will accept the company. This way the business houses can gain comparative advantage. Their ethics provide them the comparative advantage.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>What innovative methods are being practiced or developed to instil human values in the management of business organizations?</strong></span></div>
<div>
Human Values is a very comprehensive term. It includes the behaviour of the business houses towards its customers, employees, community and the environment. The business house has to be concerned about the environment and the community while practicing business. </div>
<div>
</div>
<div>
Business houses can instil human values in their practice through the development of caring attitude.Any business houses should consider human beings as their first priority.As a businessperson, relationship matters a lot. If business houses fail to maintain good relationship with the employees, customers and the community, it fails. </div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>How do you see the situation of business in South Asia?</strong></span></div>
<div>
The situation is picking now because of globalization. People are exposed to the activities of business houses.Earlier, the situation was such that business houses would carry out their work in an unethical manner and to cover it up, they would do some charity and give donations. But, now, how any corporation makes business is noticed and reported. </div>
<div>
</div>
<div>
Another thing that is improving the situation is the international ranking. Every business house wants to participate in the international ranking. For example: Transparency International ranking.The moment you perform corrupt activities or you compromise with the safety of the employees and customers, you are ranked in the top of the most corrupt company. Earlier, companies were not concerned with the country’s image, but now, companies are tied up with the country. If the country does not have good image, nobody would want to do business in that country. Countries are the conglomerates of certain companies. This has helped in improving the situation of business ethics in South Asia and rest of the world.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>Marketing profession is derided as an example of unethical business practice. What is your suggestion to this professional field for overcoming this challenge?</strong></span></div>
<div>
In marketing, what matters the most is the product. Communication becomes very important while marketing. If you are giving false information to the consumers while selling the product, then, you lose reputation. If you are marketing a product that does no harm to the consumers, then it is not unethical.</div>',
'published' => true,
'created' => '2014-01-20',
'modified' => '2014-01-27',
'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
'description' => 'Prof C Panduranga Bhatta is a Professor and founder coordinator of Business Ethics and Communication Group and Coordinator of Management Centre for Human Values at the Indian Institute of Management Calcutta (IIMC). He has been continuously involved in academic administration of the IIMC since 1999. In an interview with The Corporate’s Angila Sharma, he discussed core principles of business ethics and its relevance in the present context. Excerpts:',
'sortorder' => '2295',
'image' => null,
'article_date' => '0000-00-00 00:00:00',
'homepage' => false,
'breaking_news' => false,
'main_news' => false,
'in_scroller' => false,
'user_id' => '0'
),
'ArticleCategory' => array(
'id' => '134',
'name' => 'Interview',
'parentOf' => '119',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '90',
'del_flag' => '0',
'homepage' => false,
'display_in_menu' => false,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 12:22:12'
),
'User' => array(
'password' => '*****',
'id' => null,
'user_detail_id' => null,
'group_id' => null,
'username' => null,
'name' => null,
'email' => null,
'address' => null,
'gender' => null,
'access' => null,
'phone' => null,
'access_type' => null,
'activated' => null,
'sortorder' => null,
'published' => null,
'created' => null,
'last_login' => null,
'ip' => null
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
[maximum depth reached]
)
),
'Slider' => array()
),
'current_user' => null,
'logged_in' => false
)
$article = array(
'Article' => array(
'id' => '2452',
'article_category_id' => '134',
'title' => '“In The Long Run, Ethics Pays”',
'sub_title' => '',
'summary' => null,
'content' => '<div>
</div>
<div>
<span style="font-size:14px;"><strong>Prof C Panduranga Bhatta</strong> is a Professor and founder coordinator of Business Ethics and Communication Group and Coordinator of Management Centre for Human Values at the Indian Institute of Management Calcutta (IIMC). He has been continuously involved in academic administration of the IIMC since 1999. In an interview with The Corporate’s <strong>Angila Sharma</strong>, he discussed core principles of business ethics and its relevance in the present context. <strong>Excerpts</strong></span><strong>:</strong></div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>Generally business ethics and CSR are treated as synonymous. How to distinguish them?</strong></span></div>
<div>
Before the introduction of the term Corporate Social Responsibility (CSR), business ethics’ definition was limited to not doing corruption in business. But now, business ethics is defined and understood in a broader way and includes Corporate Social Responsibility. So, I would like to say that CSR is one of the aspects of business ethics. As such, the business houses that are active in their CSR can be called ethical because they have realized that they have a duty to perform. </div>
<div>
</div>
<div>
Earlier, business houses would conduct business in an ethical manner but would not be concerned with the community. But, now, they should also be concerned with the society because they make profit because of the ordinary people around them. So, CSR is a part of business ethics.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>The popular view including that of the government is that business ethics and profit making cannot go hand in hand. What is your opinion on this? </strong></span></div>
<div>
This is the biggest mistake people are making. We can take examples of corporations in the international arena that are making profit ethically. Ethics means taking care of the safety of the products; it means you don’t do wrong to the customers through your products. Business ethics means that corporations allocate certain amount of their profit for the betterment of the people. So, the corporations, which are conducting business in an ethical manner, also earn profit.</div>
<div>
</div>
<div>
This issue can be looked upon in two ways. It depends on the business corporation whether it is looking at the short term or long term. Short-term business means operating for a small period of time, earning profit in any manner and then shifting to a new place. We describe these kinds of businesses as ‘fly by night operators’. This type of activity is completely unethical and we do not consider these types of activities as business. We are talking about business corporations that operate for a long period of time. Such business corporations do not limit themselves to stopping corrupt activities, but widen their view to the entire society. Thus, in the long run, such business houses survive, make profit and are considered as ethical business firms. In the long run, ethics pays.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>In today’s competitive world, how can business houses gain comparative advantage through practicing business ethics?</strong></span></div>
<div>
Globalization can give you advantage as well as disadvantage. Firstly, if you are an ethical company, you are welcomed everywhere. This is because of the reputation of the business house which is built on ethics. Business houses have to take care of ethics. For example: Infosys is a company that is present throughout the world. They have a motto that says ‘Powered by Intellect; Driven by values’. They have been practicing it and people have been watching their loyalty towards their motto.If people are convinced, they will accept the company. This way the business houses can gain comparative advantage. Their ethics provide them the comparative advantage.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>What innovative methods are being practiced or developed to instil human values in the management of business organizations?</strong></span></div>
<div>
Human Values is a very comprehensive term. It includes the behaviour of the business houses towards its customers, employees, community and the environment. The business house has to be concerned about the environment and the community while practicing business. </div>
<div>
</div>
<div>
Business houses can instil human values in their practice through the development of caring attitude.Any business houses should consider human beings as their first priority.As a businessperson, relationship matters a lot. If business houses fail to maintain good relationship with the employees, customers and the community, it fails. </div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>How do you see the situation of business in South Asia?</strong></span></div>
<div>
The situation is picking now because of globalization. People are exposed to the activities of business houses.Earlier, the situation was such that business houses would carry out their work in an unethical manner and to cover it up, they would do some charity and give donations. But, now, how any corporation makes business is noticed and reported. </div>
<div>
</div>
<div>
Another thing that is improving the situation is the international ranking. Every business house wants to participate in the international ranking. For example: Transparency International ranking.The moment you perform corrupt activities or you compromise with the safety of the employees and customers, you are ranked in the top of the most corrupt company. Earlier, companies were not concerned with the country’s image, but now, companies are tied up with the country. If the country does not have good image, nobody would want to do business in that country. Countries are the conglomerates of certain companies. This has helped in improving the situation of business ethics in South Asia and rest of the world.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>Marketing profession is derided as an example of unethical business practice. What is your suggestion to this professional field for overcoming this challenge?</strong></span></div>
<div>
In marketing, what matters the most is the product. Communication becomes very important while marketing. If you are giving false information to the consumers while selling the product, then, you lose reputation. If you are marketing a product that does no harm to the consumers, then it is not unethical.</div>',
'published' => true,
'created' => '2014-01-20',
'modified' => '2014-01-27',
'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
'description' => 'Prof C Panduranga Bhatta is a Professor and founder coordinator of Business Ethics and Communication Group and Coordinator of Management Centre for Human Values at the Indian Institute of Management Calcutta (IIMC). He has been continuously involved in academic administration of the IIMC since 1999. In an interview with The Corporate’s Angila Sharma, he discussed core principles of business ethics and its relevance in the present context. Excerpts:',
'sortorder' => '2295',
'image' => null,
'article_date' => '0000-00-00 00:00:00',
'homepage' => false,
'breaking_news' => false,
'main_news' => false,
'in_scroller' => false,
'user_id' => '0'
),
'ArticleCategory' => array(
'id' => '134',
'name' => 'Interview',
'parentOf' => '119',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '90',
'del_flag' => '0',
'homepage' => false,
'display_in_menu' => false,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 12:22:12'
),
'User' => array(
'password' => '*****',
'id' => null,
'user_detail_id' => null,
'group_id' => null,
'username' => null,
'name' => null,
'email' => null,
'address' => null,
'gender' => null,
'access' => null,
'phone' => null,
'access_type' => null,
'activated' => null,
'sortorder' => null,
'published' => null,
'created' => null,
'last_login' => null,
'ip' => null
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
'article_id' => '2452',
'hit' => '350'
)
),
'Slider' => array()
)
$current_user = null
$logged_in = false
include - APP/View/Elements/side_bar.ctp, line 60
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/view.ctp, line 391
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]
$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp'
$dataForView = array(
'article' => array(
'Article' => array(
'id' => '2452',
'article_category_id' => '134',
'title' => '“In The Long Run, Ethics Pays”',
'sub_title' => '',
'summary' => null,
'content' => '<div>
</div>
<div>
<span style="font-size:14px;"><strong>Prof C Panduranga Bhatta</strong> is a Professor and founder coordinator of Business Ethics and Communication Group and Coordinator of Management Centre for Human Values at the Indian Institute of Management Calcutta (IIMC). He has been continuously involved in academic administration of the IIMC since 1999. In an interview with The Corporate’s <strong>Angila Sharma</strong>, he discussed core principles of business ethics and its relevance in the present context. <strong>Excerpts</strong></span><strong>:</strong></div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>Generally business ethics and CSR are treated as synonymous. How to distinguish them?</strong></span></div>
<div>
Before the introduction of the term Corporate Social Responsibility (CSR), business ethics’ definition was limited to not doing corruption in business. But now, business ethics is defined and understood in a broader way and includes Corporate Social Responsibility. So, I would like to say that CSR is one of the aspects of business ethics. As such, the business houses that are active in their CSR can be called ethical because they have realized that they have a duty to perform. </div>
<div>
</div>
<div>
Earlier, business houses would conduct business in an ethical manner but would not be concerned with the community. But, now, they should also be concerned with the society because they make profit because of the ordinary people around them. So, CSR is a part of business ethics.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>The popular view including that of the government is that business ethics and profit making cannot go hand in hand. What is your opinion on this? </strong></span></div>
<div>
This is the biggest mistake people are making. We can take examples of corporations in the international arena that are making profit ethically. Ethics means taking care of the safety of the products; it means you don’t do wrong to the customers through your products. Business ethics means that corporations allocate certain amount of their profit for the betterment of the people. So, the corporations, which are conducting business in an ethical manner, also earn profit.</div>
<div>
</div>
<div>
This issue can be looked upon in two ways. It depends on the business corporation whether it is looking at the short term or long term. Short-term business means operating for a small period of time, earning profit in any manner and then shifting to a new place. We describe these kinds of businesses as ‘fly by night operators’. This type of activity is completely unethical and we do not consider these types of activities as business. We are talking about business corporations that operate for a long period of time. Such business corporations do not limit themselves to stopping corrupt activities, but widen their view to the entire society. Thus, in the long run, such business houses survive, make profit and are considered as ethical business firms. In the long run, ethics pays.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>In today’s competitive world, how can business houses gain comparative advantage through practicing business ethics?</strong></span></div>
<div>
Globalization can give you advantage as well as disadvantage. Firstly, if you are an ethical company, you are welcomed everywhere. This is because of the reputation of the business house which is built on ethics. Business houses have to take care of ethics. For example: Infosys is a company that is present throughout the world. They have a motto that says ‘Powered by Intellect; Driven by values’. They have been practicing it and people have been watching their loyalty towards their motto.If people are convinced, they will accept the company. This way the business houses can gain comparative advantage. Their ethics provide them the comparative advantage.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>What innovative methods are being practiced or developed to instil human values in the management of business organizations?</strong></span></div>
<div>
Human Values is a very comprehensive term. It includes the behaviour of the business houses towards its customers, employees, community and the environment. The business house has to be concerned about the environment and the community while practicing business. </div>
<div>
</div>
<div>
Business houses can instil human values in their practice through the development of caring attitude.Any business houses should consider human beings as their first priority.As a businessperson, relationship matters a lot. If business houses fail to maintain good relationship with the employees, customers and the community, it fails. </div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>How do you see the situation of business in South Asia?</strong></span></div>
<div>
The situation is picking now because of globalization. People are exposed to the activities of business houses.Earlier, the situation was such that business houses would carry out their work in an unethical manner and to cover it up, they would do some charity and give donations. But, now, how any corporation makes business is noticed and reported. </div>
<div>
</div>
<div>
Another thing that is improving the situation is the international ranking. Every business house wants to participate in the international ranking. For example: Transparency International ranking.The moment you perform corrupt activities or you compromise with the safety of the employees and customers, you are ranked in the top of the most corrupt company. Earlier, companies were not concerned with the country’s image, but now, companies are tied up with the country. If the country does not have good image, nobody would want to do business in that country. Countries are the conglomerates of certain companies. This has helped in improving the situation of business ethics in South Asia and rest of the world.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>Marketing profession is derided as an example of unethical business practice. What is your suggestion to this professional field for overcoming this challenge?</strong></span></div>
<div>
In marketing, what matters the most is the product. Communication becomes very important while marketing. If you are giving false information to the consumers while selling the product, then, you lose reputation. If you are marketing a product that does no harm to the consumers, then it is not unethical.</div>',
'published' => true,
'created' => '2014-01-20',
'modified' => '2014-01-27',
'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
'description' => 'Prof C Panduranga Bhatta is a Professor and founder coordinator of Business Ethics and Communication Group and Coordinator of Management Centre for Human Values at the Indian Institute of Management Calcutta (IIMC). He has been continuously involved in academic administration of the IIMC since 1999. In an interview with The Corporate’s Angila Sharma, he discussed core principles of business ethics and its relevance in the present context. Excerpts:',
'sortorder' => '2295',
'image' => null,
'article_date' => '0000-00-00 00:00:00',
'homepage' => false,
'breaking_news' => false,
'main_news' => false,
'in_scroller' => false,
'user_id' => '0'
),
'ArticleCategory' => array(
'id' => '134',
'name' => 'Interview',
'parentOf' => '119',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '90',
'del_flag' => '0',
'homepage' => false,
'display_in_menu' => false,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 12:22:12'
),
'User' => array(
'password' => '*****',
'id' => null,
'user_detail_id' => null,
'group_id' => null,
'username' => null,
'name' => null,
'email' => null,
'address' => null,
'gender' => null,
'access' => null,
'phone' => null,
'access_type' => null,
'activated' => null,
'sortorder' => null,
'published' => null,
'created' => null,
'last_login' => null,
'ip' => null
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
[maximum depth reached]
)
),
'Slider' => array()
),
'current_user' => null,
'logged_in' => false
)
$article = array(
'Article' => array(
'id' => '2452',
'article_category_id' => '134',
'title' => '“In The Long Run, Ethics Pays”',
'sub_title' => '',
'summary' => null,
'content' => '<div>
</div>
<div>
<span style="font-size:14px;"><strong>Prof C Panduranga Bhatta</strong> is a Professor and founder coordinator of Business Ethics and Communication Group and Coordinator of Management Centre for Human Values at the Indian Institute of Management Calcutta (IIMC). He has been continuously involved in academic administration of the IIMC since 1999. In an interview with The Corporate’s <strong>Angila Sharma</strong>, he discussed core principles of business ethics and its relevance in the present context. <strong>Excerpts</strong></span><strong>:</strong></div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>Generally business ethics and CSR are treated as synonymous. How to distinguish them?</strong></span></div>
<div>
Before the introduction of the term Corporate Social Responsibility (CSR), business ethics’ definition was limited to not doing corruption in business. But now, business ethics is defined and understood in a broader way and includes Corporate Social Responsibility. So, I would like to say that CSR is one of the aspects of business ethics. As such, the business houses that are active in their CSR can be called ethical because they have realized that they have a duty to perform. </div>
<div>
</div>
<div>
Earlier, business houses would conduct business in an ethical manner but would not be concerned with the community. But, now, they should also be concerned with the society because they make profit because of the ordinary people around them. So, CSR is a part of business ethics.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>The popular view including that of the government is that business ethics and profit making cannot go hand in hand. What is your opinion on this? </strong></span></div>
<div>
This is the biggest mistake people are making. We can take examples of corporations in the international arena that are making profit ethically. Ethics means taking care of the safety of the products; it means you don’t do wrong to the customers through your products. Business ethics means that corporations allocate certain amount of their profit for the betterment of the people. So, the corporations, which are conducting business in an ethical manner, also earn profit.</div>
<div>
</div>
<div>
This issue can be looked upon in two ways. It depends on the business corporation whether it is looking at the short term or long term. Short-term business means operating for a small period of time, earning profit in any manner and then shifting to a new place. We describe these kinds of businesses as ‘fly by night operators’. This type of activity is completely unethical and we do not consider these types of activities as business. We are talking about business corporations that operate for a long period of time. Such business corporations do not limit themselves to stopping corrupt activities, but widen their view to the entire society. Thus, in the long run, such business houses survive, make profit and are considered as ethical business firms. In the long run, ethics pays.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>In today’s competitive world, how can business houses gain comparative advantage through practicing business ethics?</strong></span></div>
<div>
Globalization can give you advantage as well as disadvantage. Firstly, if you are an ethical company, you are welcomed everywhere. This is because of the reputation of the business house which is built on ethics. Business houses have to take care of ethics. For example: Infosys is a company that is present throughout the world. They have a motto that says ‘Powered by Intellect; Driven by values’. They have been practicing it and people have been watching their loyalty towards their motto.If people are convinced, they will accept the company. This way the business houses can gain comparative advantage. Their ethics provide them the comparative advantage.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>What innovative methods are being practiced or developed to instil human values in the management of business organizations?</strong></span></div>
<div>
Human Values is a very comprehensive term. It includes the behaviour of the business houses towards its customers, employees, community and the environment. The business house has to be concerned about the environment and the community while practicing business. </div>
<div>
</div>
<div>
Business houses can instil human values in their practice through the development of caring attitude.Any business houses should consider human beings as their first priority.As a businessperson, relationship matters a lot. If business houses fail to maintain good relationship with the employees, customers and the community, it fails. </div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>How do you see the situation of business in South Asia?</strong></span></div>
<div>
The situation is picking now because of globalization. People are exposed to the activities of business houses.Earlier, the situation was such that business houses would carry out their work in an unethical manner and to cover it up, they would do some charity and give donations. But, now, how any corporation makes business is noticed and reported. </div>
<div>
</div>
<div>
Another thing that is improving the situation is the international ranking. Every business house wants to participate in the international ranking. For example: Transparency International ranking.The moment you perform corrupt activities or you compromise with the safety of the employees and customers, you are ranked in the top of the most corrupt company. Earlier, companies were not concerned with the country’s image, but now, companies are tied up with the country. If the country does not have good image, nobody would want to do business in that country. Countries are the conglomerates of certain companies. This has helped in improving the situation of business ethics in South Asia and rest of the world.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>Marketing profession is derided as an example of unethical business practice. What is your suggestion to this professional field for overcoming this challenge?</strong></span></div>
<div>
In marketing, what matters the most is the product. Communication becomes very important while marketing. If you are giving false information to the consumers while selling the product, then, you lose reputation. If you are marketing a product that does no harm to the consumers, then it is not unethical.</div>',
'published' => true,
'created' => '2014-01-20',
'modified' => '2014-01-27',
'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
'description' => 'Prof C Panduranga Bhatta is a Professor and founder coordinator of Business Ethics and Communication Group and Coordinator of Management Centre for Human Values at the Indian Institute of Management Calcutta (IIMC). He has been continuously involved in academic administration of the IIMC since 1999. In an interview with The Corporate’s Angila Sharma, he discussed core principles of business ethics and its relevance in the present context. Excerpts:',
'sortorder' => '2295',
'image' => null,
'article_date' => '0000-00-00 00:00:00',
'homepage' => false,
'breaking_news' => false,
'main_news' => false,
'in_scroller' => false,
'user_id' => '0'
),
'ArticleCategory' => array(
'id' => '134',
'name' => 'Interview',
'parentOf' => '119',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '90',
'del_flag' => '0',
'homepage' => false,
'display_in_menu' => false,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 12:22:12'
),
'User' => array(
'password' => '*****',
'id' => null,
'user_detail_id' => null,
'group_id' => null,
'username' => null,
'name' => null,
'email' => null,
'address' => null,
'gender' => null,
'access' => null,
'phone' => null,
'access_type' => null,
'activated' => null,
'sortorder' => null,
'published' => null,
'created' => null,
'last_login' => null,
'ip' => null
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
'article_id' => '2452',
'hit' => '350'
)
),
'Slider' => array()
)
$current_user = null
$logged_in = false
simplexml_load_file - [internal], line ??
include - APP/View/Elements/side_bar.ctp, line 60
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/view.ctp, line 391
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
file not found!
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]
$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp'
$dataForView = array(
'article' => array(
'Article' => array(
'id' => '2452',
'article_category_id' => '134',
'title' => '“In The Long Run, Ethics Pays”',
'sub_title' => '',
'summary' => null,
'content' => '<div>
</div>
<div>
<span style="font-size:14px;"><strong>Prof C Panduranga Bhatta</strong> is a Professor and founder coordinator of Business Ethics and Communication Group and Coordinator of Management Centre for Human Values at the Indian Institute of Management Calcutta (IIMC). He has been continuously involved in academic administration of the IIMC since 1999. In an interview with The Corporate’s <strong>Angila Sharma</strong>, he discussed core principles of business ethics and its relevance in the present context. <strong>Excerpts</strong></span><strong>:</strong></div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>Generally business ethics and CSR are treated as synonymous. How to distinguish them?</strong></span></div>
<div>
Before the introduction of the term Corporate Social Responsibility (CSR), business ethics’ definition was limited to not doing corruption in business. But now, business ethics is defined and understood in a broader way and includes Corporate Social Responsibility. So, I would like to say that CSR is one of the aspects of business ethics. As such, the business houses that are active in their CSR can be called ethical because they have realized that they have a duty to perform. </div>
<div>
</div>
<div>
Earlier, business houses would conduct business in an ethical manner but would not be concerned with the community. But, now, they should also be concerned with the society because they make profit because of the ordinary people around them. So, CSR is a part of business ethics.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>The popular view including that of the government is that business ethics and profit making cannot go hand in hand. What is your opinion on this? </strong></span></div>
<div>
This is the biggest mistake people are making. We can take examples of corporations in the international arena that are making profit ethically. Ethics means taking care of the safety of the products; it means you don’t do wrong to the customers through your products. Business ethics means that corporations allocate certain amount of their profit for the betterment of the people. So, the corporations, which are conducting business in an ethical manner, also earn profit.</div>
<div>
</div>
<div>
This issue can be looked upon in two ways. It depends on the business corporation whether it is looking at the short term or long term. Short-term business means operating for a small period of time, earning profit in any manner and then shifting to a new place. We describe these kinds of businesses as ‘fly by night operators’. This type of activity is completely unethical and we do not consider these types of activities as business. We are talking about business corporations that operate for a long period of time. Such business corporations do not limit themselves to stopping corrupt activities, but widen their view to the entire society. Thus, in the long run, such business houses survive, make profit and are considered as ethical business firms. In the long run, ethics pays.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>In today’s competitive world, how can business houses gain comparative advantage through practicing business ethics?</strong></span></div>
<div>
Globalization can give you advantage as well as disadvantage. Firstly, if you are an ethical company, you are welcomed everywhere. This is because of the reputation of the business house which is built on ethics. Business houses have to take care of ethics. For example: Infosys is a company that is present throughout the world. They have a motto that says ‘Powered by Intellect; Driven by values’. They have been practicing it and people have been watching their loyalty towards their motto.If people are convinced, they will accept the company. This way the business houses can gain comparative advantage. Their ethics provide them the comparative advantage.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>What innovative methods are being practiced or developed to instil human values in the management of business organizations?</strong></span></div>
<div>
Human Values is a very comprehensive term. It includes the behaviour of the business houses towards its customers, employees, community and the environment. The business house has to be concerned about the environment and the community while practicing business. </div>
<div>
</div>
<div>
Business houses can instil human values in their practice through the development of caring attitude.Any business houses should consider human beings as their first priority.As a businessperson, relationship matters a lot. If business houses fail to maintain good relationship with the employees, customers and the community, it fails. </div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>How do you see the situation of business in South Asia?</strong></span></div>
<div>
The situation is picking now because of globalization. People are exposed to the activities of business houses.Earlier, the situation was such that business houses would carry out their work in an unethical manner and to cover it up, they would do some charity and give donations. But, now, how any corporation makes business is noticed and reported. </div>
<div>
</div>
<div>
Another thing that is improving the situation is the international ranking. Every business house wants to participate in the international ranking. For example: Transparency International ranking.The moment you perform corrupt activities or you compromise with the safety of the employees and customers, you are ranked in the top of the most corrupt company. Earlier, companies were not concerned with the country’s image, but now, companies are tied up with the country. If the country does not have good image, nobody would want to do business in that country. Countries are the conglomerates of certain companies. This has helped in improving the situation of business ethics in South Asia and rest of the world.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>Marketing profession is derided as an example of unethical business practice. What is your suggestion to this professional field for overcoming this challenge?</strong></span></div>
<div>
In marketing, what matters the most is the product. Communication becomes very important while marketing. If you are giving false information to the consumers while selling the product, then, you lose reputation. If you are marketing a product that does no harm to the consumers, then it is not unethical.</div>',
'published' => true,
'created' => '2014-01-20',
'modified' => '2014-01-27',
'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
'description' => 'Prof C Panduranga Bhatta is a Professor and founder coordinator of Business Ethics and Communication Group and Coordinator of Management Centre for Human Values at the Indian Institute of Management Calcutta (IIMC). He has been continuously involved in academic administration of the IIMC since 1999. In an interview with The Corporate’s Angila Sharma, he discussed core principles of business ethics and its relevance in the present context. Excerpts:',
'sortorder' => '2295',
'image' => null,
'article_date' => '0000-00-00 00:00:00',
'homepage' => false,
'breaking_news' => false,
'main_news' => false,
'in_scroller' => false,
'user_id' => '0'
),
'ArticleCategory' => array(
'id' => '134',
'name' => 'Interview',
'parentOf' => '119',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '90',
'del_flag' => '0',
'homepage' => false,
'display_in_menu' => false,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 12:22:12'
),
'User' => array(
'password' => '*****',
'id' => null,
'user_detail_id' => null,
'group_id' => null,
'username' => null,
'name' => null,
'email' => null,
'address' => null,
'gender' => null,
'access' => null,
'phone' => null,
'access_type' => null,
'activated' => null,
'sortorder' => null,
'published' => null,
'created' => null,
'last_login' => null,
'ip' => null
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
[maximum depth reached]
)
),
'Slider' => array()
),
'current_user' => null,
'logged_in' => false
)
$article = array(
'Article' => array(
'id' => '2452',
'article_category_id' => '134',
'title' => '“In The Long Run, Ethics Pays”',
'sub_title' => '',
'summary' => null,
'content' => '<div>
</div>
<div>
<span style="font-size:14px;"><strong>Prof C Panduranga Bhatta</strong> is a Professor and founder coordinator of Business Ethics and Communication Group and Coordinator of Management Centre for Human Values at the Indian Institute of Management Calcutta (IIMC). He has been continuously involved in academic administration of the IIMC since 1999. In an interview with The Corporate’s <strong>Angila Sharma</strong>, he discussed core principles of business ethics and its relevance in the present context. <strong>Excerpts</strong></span><strong>:</strong></div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>Generally business ethics and CSR are treated as synonymous. How to distinguish them?</strong></span></div>
<div>
Before the introduction of the term Corporate Social Responsibility (CSR), business ethics’ definition was limited to not doing corruption in business. But now, business ethics is defined and understood in a broader way and includes Corporate Social Responsibility. So, I would like to say that CSR is one of the aspects of business ethics. As such, the business houses that are active in their CSR can be called ethical because they have realized that they have a duty to perform. </div>
<div>
</div>
<div>
Earlier, business houses would conduct business in an ethical manner but would not be concerned with the community. But, now, they should also be concerned with the society because they make profit because of the ordinary people around them. So, CSR is a part of business ethics.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>The popular view including that of the government is that business ethics and profit making cannot go hand in hand. What is your opinion on this? </strong></span></div>
<div>
This is the biggest mistake people are making. We can take examples of corporations in the international arena that are making profit ethically. Ethics means taking care of the safety of the products; it means you don’t do wrong to the customers through your products. Business ethics means that corporations allocate certain amount of their profit for the betterment of the people. So, the corporations, which are conducting business in an ethical manner, also earn profit.</div>
<div>
</div>
<div>
This issue can be looked upon in two ways. It depends on the business corporation whether it is looking at the short term or long term. Short-term business means operating for a small period of time, earning profit in any manner and then shifting to a new place. We describe these kinds of businesses as ‘fly by night operators’. This type of activity is completely unethical and we do not consider these types of activities as business. We are talking about business corporations that operate for a long period of time. Such business corporations do not limit themselves to stopping corrupt activities, but widen their view to the entire society. Thus, in the long run, such business houses survive, make profit and are considered as ethical business firms. In the long run, ethics pays.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>In today’s competitive world, how can business houses gain comparative advantage through practicing business ethics?</strong></span></div>
<div>
Globalization can give you advantage as well as disadvantage. Firstly, if you are an ethical company, you are welcomed everywhere. This is because of the reputation of the business house which is built on ethics. Business houses have to take care of ethics. For example: Infosys is a company that is present throughout the world. They have a motto that says ‘Powered by Intellect; Driven by values’. They have been practicing it and people have been watching their loyalty towards their motto.If people are convinced, they will accept the company. This way the business houses can gain comparative advantage. Their ethics provide them the comparative advantage.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>What innovative methods are being practiced or developed to instil human values in the management of business organizations?</strong></span></div>
<div>
Human Values is a very comprehensive term. It includes the behaviour of the business houses towards its customers, employees, community and the environment. The business house has to be concerned about the environment and the community while practicing business. </div>
<div>
</div>
<div>
Business houses can instil human values in their practice through the development of caring attitude.Any business houses should consider human beings as their first priority.As a businessperson, relationship matters a lot. If business houses fail to maintain good relationship with the employees, customers and the community, it fails. </div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>How do you see the situation of business in South Asia?</strong></span></div>
<div>
The situation is picking now because of globalization. People are exposed to the activities of business houses.Earlier, the situation was such that business houses would carry out their work in an unethical manner and to cover it up, they would do some charity and give donations. But, now, how any corporation makes business is noticed and reported. </div>
<div>
</div>
<div>
Another thing that is improving the situation is the international ranking. Every business house wants to participate in the international ranking. For example: Transparency International ranking.The moment you perform corrupt activities or you compromise with the safety of the employees and customers, you are ranked in the top of the most corrupt company. Earlier, companies were not concerned with the country’s image, but now, companies are tied up with the country. If the country does not have good image, nobody would want to do business in that country. Countries are the conglomerates of certain companies. This has helped in improving the situation of business ethics in South Asia and rest of the world.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>Marketing profession is derided as an example of unethical business practice. What is your suggestion to this professional field for overcoming this challenge?</strong></span></div>
<div>
In marketing, what matters the most is the product. Communication becomes very important while marketing. If you are giving false information to the consumers while selling the product, then, you lose reputation. If you are marketing a product that does no harm to the consumers, then it is not unethical.</div>',
'published' => true,
'created' => '2014-01-20',
'modified' => '2014-01-27',
'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
'description' => 'Prof C Panduranga Bhatta is a Professor and founder coordinator of Business Ethics and Communication Group and Coordinator of Management Centre for Human Values at the Indian Institute of Management Calcutta (IIMC). He has been continuously involved in academic administration of the IIMC since 1999. In an interview with The Corporate’s Angila Sharma, he discussed core principles of business ethics and its relevance in the present context. Excerpts:',
'sortorder' => '2295',
'image' => null,
'article_date' => '0000-00-00 00:00:00',
'homepage' => false,
'breaking_news' => false,
'main_news' => false,
'in_scroller' => false,
'user_id' => '0'
),
'ArticleCategory' => array(
'id' => '134',
'name' => 'Interview',
'parentOf' => '119',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '90',
'del_flag' => '0',
'homepage' => false,
'display_in_menu' => false,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 12:22:12'
),
'User' => array(
'password' => '*****',
'id' => null,
'user_detail_id' => null,
'group_id' => null,
'username' => null,
'name' => null,
'email' => null,
'address' => null,
'gender' => null,
'access' => null,
'phone' => null,
'access_type' => null,
'activated' => null,
'sortorder' => null,
'published' => null,
'created' => null,
'last_login' => null,
'ip' => null
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
'article_id' => '2452',
'hit' => '350'
)
),
'Slider' => array()
)
$current_user = null
$logged_in = false
$xml = false
include - APP/View/Elements/side_bar.ctp, line 133
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/view.ctp, line 391
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 133]
$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp'
$dataForView = array(
'article' => array(
'Article' => array(
'id' => '2452',
'article_category_id' => '134',
'title' => '“In The Long Run, Ethics Pays”',
'sub_title' => '',
'summary' => null,
'content' => '<div>
</div>
<div>
<span style="font-size:14px;"><strong>Prof C Panduranga Bhatta</strong> is a Professor and founder coordinator of Business Ethics and Communication Group and Coordinator of Management Centre for Human Values at the Indian Institute of Management Calcutta (IIMC). He has been continuously involved in academic administration of the IIMC since 1999. In an interview with The Corporate’s <strong>Angila Sharma</strong>, he discussed core principles of business ethics and its relevance in the present context. <strong>Excerpts</strong></span><strong>:</strong></div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>Generally business ethics and CSR are treated as synonymous. How to distinguish them?</strong></span></div>
<div>
Before the introduction of the term Corporate Social Responsibility (CSR), business ethics’ definition was limited to not doing corruption in business. But now, business ethics is defined and understood in a broader way and includes Corporate Social Responsibility. So, I would like to say that CSR is one of the aspects of business ethics. As such, the business houses that are active in their CSR can be called ethical because they have realized that they have a duty to perform. </div>
<div>
</div>
<div>
Earlier, business houses would conduct business in an ethical manner but would not be concerned with the community. But, now, they should also be concerned with the society because they make profit because of the ordinary people around them. So, CSR is a part of business ethics.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>The popular view including that of the government is that business ethics and profit making cannot go hand in hand. What is your opinion on this? </strong></span></div>
<div>
This is the biggest mistake people are making. We can take examples of corporations in the international arena that are making profit ethically. Ethics means taking care of the safety of the products; it means you don’t do wrong to the customers through your products. Business ethics means that corporations allocate certain amount of their profit for the betterment of the people. So, the corporations, which are conducting business in an ethical manner, also earn profit.</div>
<div>
</div>
<div>
This issue can be looked upon in two ways. It depends on the business corporation whether it is looking at the short term or long term. Short-term business means operating for a small period of time, earning profit in any manner and then shifting to a new place. We describe these kinds of businesses as ‘fly by night operators’. This type of activity is completely unethical and we do not consider these types of activities as business. We are talking about business corporations that operate for a long period of time. Such business corporations do not limit themselves to stopping corrupt activities, but widen their view to the entire society. Thus, in the long run, such business houses survive, make profit and are considered as ethical business firms. In the long run, ethics pays.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>In today’s competitive world, how can business houses gain comparative advantage through practicing business ethics?</strong></span></div>
<div>
Globalization can give you advantage as well as disadvantage. Firstly, if you are an ethical company, you are welcomed everywhere. This is because of the reputation of the business house which is built on ethics. Business houses have to take care of ethics. For example: Infosys is a company that is present throughout the world. They have a motto that says ‘Powered by Intellect; Driven by values’. They have been practicing it and people have been watching their loyalty towards their motto.If people are convinced, they will accept the company. This way the business houses can gain comparative advantage. Their ethics provide them the comparative advantage.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>What innovative methods are being practiced or developed to instil human values in the management of business organizations?</strong></span></div>
<div>
Human Values is a very comprehensive term. It includes the behaviour of the business houses towards its customers, employees, community and the environment. The business house has to be concerned about the environment and the community while practicing business. </div>
<div>
</div>
<div>
Business houses can instil human values in their practice through the development of caring attitude.Any business houses should consider human beings as their first priority.As a businessperson, relationship matters a lot. If business houses fail to maintain good relationship with the employees, customers and the community, it fails. </div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>How do you see the situation of business in South Asia?</strong></span></div>
<div>
The situation is picking now because of globalization. People are exposed to the activities of business houses.Earlier, the situation was such that business houses would carry out their work in an unethical manner and to cover it up, they would do some charity and give donations. But, now, how any corporation makes business is noticed and reported. </div>
<div>
</div>
<div>
Another thing that is improving the situation is the international ranking. Every business house wants to participate in the international ranking. For example: Transparency International ranking.The moment you perform corrupt activities or you compromise with the safety of the employees and customers, you are ranked in the top of the most corrupt company. Earlier, companies were not concerned with the country’s image, but now, companies are tied up with the country. If the country does not have good image, nobody would want to do business in that country. Countries are the conglomerates of certain companies. This has helped in improving the situation of business ethics in South Asia and rest of the world.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>Marketing profession is derided as an example of unethical business practice. What is your suggestion to this professional field for overcoming this challenge?</strong></span></div>
<div>
In marketing, what matters the most is the product. Communication becomes very important while marketing. If you are giving false information to the consumers while selling the product, then, you lose reputation. If you are marketing a product that does no harm to the consumers, then it is not unethical.</div>',
'published' => true,
'created' => '2014-01-20',
'modified' => '2014-01-27',
'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
'description' => 'Prof C Panduranga Bhatta is a Professor and founder coordinator of Business Ethics and Communication Group and Coordinator of Management Centre for Human Values at the Indian Institute of Management Calcutta (IIMC). He has been continuously involved in academic administration of the IIMC since 1999. In an interview with The Corporate’s Angila Sharma, he discussed core principles of business ethics and its relevance in the present context. Excerpts:',
'sortorder' => '2295',
'image' => null,
'article_date' => '0000-00-00 00:00:00',
'homepage' => false,
'breaking_news' => false,
'main_news' => false,
'in_scroller' => false,
'user_id' => '0'
),
'ArticleCategory' => array(
'id' => '134',
'name' => 'Interview',
'parentOf' => '119',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '90',
'del_flag' => '0',
'homepage' => false,
'display_in_menu' => false,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 12:22:12'
),
'User' => array(
'password' => '*****',
'id' => null,
'user_detail_id' => null,
'group_id' => null,
'username' => null,
'name' => null,
'email' => null,
'address' => null,
'gender' => null,
'access' => null,
'phone' => null,
'access_type' => null,
'activated' => null,
'sortorder' => null,
'published' => null,
'created' => null,
'last_login' => null,
'ip' => null
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
[maximum depth reached]
)
),
'Slider' => array()
),
'current_user' => null,
'logged_in' => false
)
$article = array(
'Article' => array(
'id' => '2452',
'article_category_id' => '134',
'title' => '“In The Long Run, Ethics Pays”',
'sub_title' => '',
'summary' => null,
'content' => '<div>
</div>
<div>
<span style="font-size:14px;"><strong>Prof C Panduranga Bhatta</strong> is a Professor and founder coordinator of Business Ethics and Communication Group and Coordinator of Management Centre for Human Values at the Indian Institute of Management Calcutta (IIMC). He has been continuously involved in academic administration of the IIMC since 1999. In an interview with The Corporate’s <strong>Angila Sharma</strong>, he discussed core principles of business ethics and its relevance in the present context. <strong>Excerpts</strong></span><strong>:</strong></div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>Generally business ethics and CSR are treated as synonymous. How to distinguish them?</strong></span></div>
<div>
Before the introduction of the term Corporate Social Responsibility (CSR), business ethics’ definition was limited to not doing corruption in business. But now, business ethics is defined and understood in a broader way and includes Corporate Social Responsibility. So, I would like to say that CSR is one of the aspects of business ethics. As such, the business houses that are active in their CSR can be called ethical because they have realized that they have a duty to perform. </div>
<div>
</div>
<div>
Earlier, business houses would conduct business in an ethical manner but would not be concerned with the community. But, now, they should also be concerned with the society because they make profit because of the ordinary people around them. So, CSR is a part of business ethics.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>The popular view including that of the government is that business ethics and profit making cannot go hand in hand. What is your opinion on this? </strong></span></div>
<div>
This is the biggest mistake people are making. We can take examples of corporations in the international arena that are making profit ethically. Ethics means taking care of the safety of the products; it means you don’t do wrong to the customers through your products. Business ethics means that corporations allocate certain amount of their profit for the betterment of the people. So, the corporations, which are conducting business in an ethical manner, also earn profit.</div>
<div>
</div>
<div>
This issue can be looked upon in two ways. It depends on the business corporation whether it is looking at the short term or long term. Short-term business means operating for a small period of time, earning profit in any manner and then shifting to a new place. We describe these kinds of businesses as ‘fly by night operators’. This type of activity is completely unethical and we do not consider these types of activities as business. We are talking about business corporations that operate for a long period of time. Such business corporations do not limit themselves to stopping corrupt activities, but widen their view to the entire society. Thus, in the long run, such business houses survive, make profit and are considered as ethical business firms. In the long run, ethics pays.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>In today’s competitive world, how can business houses gain comparative advantage through practicing business ethics?</strong></span></div>
<div>
Globalization can give you advantage as well as disadvantage. Firstly, if you are an ethical company, you are welcomed everywhere. This is because of the reputation of the business house which is built on ethics. Business houses have to take care of ethics. For example: Infosys is a company that is present throughout the world. They have a motto that says ‘Powered by Intellect; Driven by values’. They have been practicing it and people have been watching their loyalty towards their motto.If people are convinced, they will accept the company. This way the business houses can gain comparative advantage. Their ethics provide them the comparative advantage.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>What innovative methods are being practiced or developed to instil human values in the management of business organizations?</strong></span></div>
<div>
Human Values is a very comprehensive term. It includes the behaviour of the business houses towards its customers, employees, community and the environment. The business house has to be concerned about the environment and the community while practicing business. </div>
<div>
</div>
<div>
Business houses can instil human values in their practice through the development of caring attitude.Any business houses should consider human beings as their first priority.As a businessperson, relationship matters a lot. If business houses fail to maintain good relationship with the employees, customers and the community, it fails. </div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>How do you see the situation of business in South Asia?</strong></span></div>
<div>
The situation is picking now because of globalization. People are exposed to the activities of business houses.Earlier, the situation was such that business houses would carry out their work in an unethical manner and to cover it up, they would do some charity and give donations. But, now, how any corporation makes business is noticed and reported. </div>
<div>
</div>
<div>
Another thing that is improving the situation is the international ranking. Every business house wants to participate in the international ranking. For example: Transparency International ranking.The moment you perform corrupt activities or you compromise with the safety of the employees and customers, you are ranked in the top of the most corrupt company. Earlier, companies were not concerned with the country’s image, but now, companies are tied up with the country. If the country does not have good image, nobody would want to do business in that country. Countries are the conglomerates of certain companies. This has helped in improving the situation of business ethics in South Asia and rest of the world.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>Marketing profession is derided as an example of unethical business practice. What is your suggestion to this professional field for overcoming this challenge?</strong></span></div>
<div>
In marketing, what matters the most is the product. Communication becomes very important while marketing. If you are giving false information to the consumers while selling the product, then, you lose reputation. If you are marketing a product that does no harm to the consumers, then it is not unethical.</div>',
'published' => true,
'created' => '2014-01-20',
'modified' => '2014-01-27',
'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
'description' => 'Prof C Panduranga Bhatta is a Professor and founder coordinator of Business Ethics and Communication Group and Coordinator of Management Centre for Human Values at the Indian Institute of Management Calcutta (IIMC). He has been continuously involved in academic administration of the IIMC since 1999. In an interview with The Corporate’s Angila Sharma, he discussed core principles of business ethics and its relevance in the present context. Excerpts:',
'sortorder' => '2295',
'image' => null,
'article_date' => '0000-00-00 00:00:00',
'homepage' => false,
'breaking_news' => false,
'main_news' => false,
'in_scroller' => false,
'user_id' => '0'
),
'ArticleCategory' => array(
'id' => '134',
'name' => 'Interview',
'parentOf' => '119',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '90',
'del_flag' => '0',
'homepage' => false,
'display_in_menu' => false,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 12:22:12'
),
'User' => array(
'password' => '*****',
'id' => null,
'user_detail_id' => null,
'group_id' => null,
'username' => null,
'name' => null,
'email' => null,
'address' => null,
'gender' => null,
'access' => null,
'phone' => null,
'access_type' => null,
'activated' => null,
'sortorder' => null,
'published' => null,
'created' => null,
'last_login' => null,
'ip' => null
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
'article_id' => '2452',
'hit' => '350'
)
),
'Slider' => array()
)
$current_user = null
$logged_in = false
$xml = false
simplexml_load_file - [internal], line ??
include - APP/View/Elements/side_bar.ctp, line 133
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/view.ctp, line 391
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
