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Business Ethics & its Scope Business ethics Business ethics is a specialized study of moral right or wrong it concentrates

on moral standards as they apply to business institutions, organizations and behavior (individually) in organization The most influential institutions with in contemporary societies may be their economic institutions. They are designed to achieve two ends a) Production of goods and services to the members of the society to satisfy their wants and need b) Distributions of these goods and services to the various members of society. The economic institutions determine who will carry out the work of production, how the work will be organized what resources the work will consume and how the products and benefits will be distributed among societys members. Business ethics is the study of moral standards and how they apply to various social systems(:Economic, legal, political ) and organizations through which modern societies produce and distribute goods & services and to the behavior of the people who work within these organizations. Thus 3 different issues the business ethics investigates System related Social systems and institutions within which business operate. Corporate issues- An individual company taken as a whole. (Goodrichs corporate culture or corporate decision to qualify A7D brake) company and their behaviors and decisions

-Particular individual or individuals within a

Business organizations are in a position to control and regulate their own and their members action by framing appropriate rules and codes for moral standards and behavior and people working in organizations have the responsibility of behaving and acting in conformity to the rules and codes of moral standards. The failure of an individual to comply with these codes & rules can be judged as wrong doings and that individual can be held morally responsible for his/her act and its consequences. Therefore responsibility of ethical behavior which relates to morality of decisions and actions in business practices rest on individual working in organizations. Ethics in business practice are reflected through the display of feelings, reasoning, deliberations and actions of individuals in business

Business comprises systems (corporate), process and its people (including customers, suppliers, investors & share holders) where is an individual or group is empowered by the company takes decisions and action on behalf of the enterprise to further the cause of business objective These individuals who own invest or work in the company are guided by motives and as directed by the company and rules framed by the company in order to co ordinate and control individual actions & efforts to accomplish certain objectives. Therefore companys actions & behavior have to be equally moral and responsible as that of a individual so as to ensure right direction and no wrongdoing or have to the society employees, investors, suppliers etc. Analysis of ethics in business says people working in organization are expected to act with feelings, reasoning and deliberations while working for and on behalf of business. Further ethics in business consider if these individuals or groups who are working the company have upheld the acceptable moral standards in their acts and deeds during the course of their business operations and if act has not been judged moral or ethical and the same had the approval of the company then the responsibility of the consequences of that act rests with the organization and not the individual. Most aspects of ethics & moral behavior in business arise from the concepts of rights, duties, justice, fairness of deals & care with respect to the various stake holders. Ethics & corporate Governance Corporate governance is a set of process, policies, regulations, rules, customer & laws governing the way a corporation should be directed, administered and controlled to maximize the efforts of its employees and resulting gains for all stake holders. Major part of corporate governance involves exchanging information and managing relationships amongst these stakeholders in order to meet or satisfy their needs and interests. Displays of moral and ethical behavior are not the purpose of corporate governance purse but are necessary enablers to accomplish the strategic objective. Strategic approach to corporate governance give rise to two main streams of activities. 1) Processes, rules and regulations by which the company directs administers and controls the business operations for the efficiency of its operations & services. 2) Economic and business policies for maximizing returns that go in servicing its stake holders The basic purpose of corporate governance structuring is to motivate executives and employees to a fair business practice and to effectively utilize various resources so as to maximize efficiency of the business for economic, moral and environmental benefits.

Nowadays many management experts feel that corporate governance should be equally concerned with employee morale, technological improvement, product quality product reliability, customer satisfaction and environmental protection. Business ethics thus acts as a reminder to the necessity of holding ethical & moral principle in framing or adjusting rules and policies for governance. Important issues relating to ethics that corporate governance must focus on are setting ethical standards and rules in the company , accountability of actions managing the trust with respect to fiduciary duty and managing economic efficiency without compromising ethical principles and values To achieve good corporate governance the following ethical aspects must be ensured. 1) Rights & equitable treatment of shareholders. 2) Protection of interests of other stake holders- including protection of environment &

ecology 3) Role & responsibilities of the Board. 4) Integrity and ethical behavior. 5) Disclosure and transparency. Corporate Social Responsibility Corporate social responsibility is the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of work force and their families as well as of the local community and society at large. There are those who argue that corporate social responsibility is a scheme by which a company takes of its external business forces- such as politics society, the Govt. and others which are not necessarily beneficial to the business goals. They also believe that traditional business ethics based on broad principles of integrity, justice and fairness and should focus on the issues of internal stakeholders- such as product quality, customer satisfaction, employee wage benefits etc External focus may, at best integrate local community and environmental responsibilities with the companys business philosophy.

Variables affecting moral development: in organizations Individual characteristics every person joins an organization with a relatively entrenched set of values. Our values developed at a young age from parents, teachers, friends, and others represent basic convictions about what is right and wrong.

Thus, managers in the same organization often possess very different personal values. Although values and stage of moral development may seem similar, theyre not. Values are broad and cover a wide range of issues; the stage of moral development specifically is a measure of independence from outside influences. Two personality variables also have been found to influence an individuals actions according to his or her beliefs about what is right or wrong: ego strength and locus of control. Locus of control is a personality attribute that measures the degree to which people believe they control their own fate. People with an external locus believe that what happens to them is due to luck or chance . Also , employee with an internal locus of control are likely to be more consistent in their moral judgments and actions that those with an external locus of control.

Structural Variables An organizations structural design influences whether employees behave ethically. Some structures provide strong guidance, whereas others create ambiguity and uncertainty. Structural designs that minimize ambiguity and uncertainty through formal rules and regulations and those that continuously remind employees of what is ethical are more likely to encourage ethical behavior. Other organizational mechanisms that influence ethics include the use of goals, performance appraisal systems ,and reward allocation procedures. Although many organizations use work goals to guide and motivate employees, research has shown that the use work goals can create some unexpected problems, especially as it relates to unethical behavior. People who didnt meet set goals were more likely to engage in unethical behavior, even when they did or did not have economic incentives to do so. The researchers concluded that goal setting can lead to unethical behavior. Examples of such behaviors abound from companies shipping unfinished products sales goals or managing earnings to meet financial analysis expectations, to schools excluding certain groups of students when reporting standardized test scores to make their pass rate look better. The organizations performance appraisal systems also can influence ethical behavior. Some systems focus exclusively on outcomes,whereas others evaluate means as well as ends. When employees are evaluated only on outcomes,they may be pressured to do whatever is necessary to look good on the outcome variables, and not be concernd with how they got those

results Research suggest that success may serve to excuse unethical behaviors.Just think of the impact of this type of thinking. The danger is that if managers take a more lenient view of unethical behaviors for successful employees,other employees will model their behavior on what they see. Closely associated with the organizations appraisal system is the way rewards are allocated. The more that rewards or punishment depend on specific goal outcomes,the more pressure there is on employees to do whatever they must to reach those goals,perhaps compromising their ethical standards. Although these structural factors are important influences on employees, theyre not the most important.What is the most important? Research continues to show that the behavior of managers is the single most important influence on an individuals decision to act ethically or unethically. People look to see what those in authority are doing and use that as a benchmark for acceptable practices and expectations

Organizations Culture: The content and strength of an organizations culture also influence ethical behavior. Culture most likely to encourage high ethical standards is one thats high in risk tolerance, control and conflict tolerance. Employees in such a culture are encouraged to be aggressive and innovative, are aware that unethical practices will be discovered, and feel free to openly challenge expectations they consider to be unrealistic or personally undesirable A strong culture will exert more influence on employees than a weak one. If the culture is strong and supports high ethical standards, it has a very powerful and positive influence on their decision to act ethically or unethically. BUSINESS ETHICS What is Ethics?

The Discipline that examine ones moral standards or the moral standards of the society. A person starts to do ethics when he or she takes the moral standard absorbed from family or church and friends and in a particular situation and asks are they reasonable for me to hold.

It can therefore be said that ethics is about self education and self regulation as to how to be guided in actions and decision by some moral principle and values so that one is satisfied about his or her own actions. Thus acting in keeping with ones ethics also involves making an effort to know the possible consequences of ones action (not for the benefit of the immediate result) and then to be sure that the actions is to his or her satisfaction. Example Helping beggars on roadside Thus ethics is a system of moral principles and attitude that guides ones action to be morally correct. And in doing so one has to be concerned not only with actions but also with the outcome of the actions. What is Morality? We can define morality as the standards that an individual or group has about what is right or wrong or good or evil. (the case of Goodrichs vandivier is the A7D air break care) Ethics covers wider area, Block diagram shows the difference Morality and morality of actions are yardsticks of ethics. Morality is the subject matter that ethics investigates through a process of moral reasoning i.e. to determine whether a person has been ethical , his moral beliefs and moral standards have to be examined by moral reasoning.

Moral Standards The norms about the kinds of actions we believe are normally right or wrong as wells as the values placed on the kinds of objects believed to be morally good or bad. What are the characteristics that distinguish moral standards from standards that are not moral.

1.Moral standard deals with matters we think can seriously injure or benefit human beings. 2. It is not established by law or legislature (self regulatory) 3. Should be preferred to other values including self interest. 4. Based on impartial considerations. 5. Moral standards are self inflicting. Note:-

Ethics is not the only way to study morality.

The social sciences such as anthropology, sociology and psychology also study morality but to do so in a way quire different from the approach to morality that is characteristics of ethics. One is normative (An investigation that attempts to reach conclusions about what things are good or bad or what actions are right or wrong) and later sociology, anthropology etc are descriptive study (An investigation that attempts to describe or explain the world without reaching any conclusion about whether the world is as it should be). Sources of moral development: 1.Genetic inheritance In recent years socio-biologists have lots of evidence and arguments to suggest that the evolutionary forces of natural selection influence the development of traits such as cooperation and altruism that lie in the core of our ethical system. Those qualities of goodness often associates with ethical conduct may is some measures be a product of genetic traits strengthend over time by evaluationary forces 2. Religious process Many people throughout the ages including some modern businessman built their ethics upon religion. The ethical rule book for Christians it is bible, for Muslim it is Koran and for Hindu it is Bhagavat gita etc. Pilgrimage to makka, sakat, pilgrimage to Thirupathi, Dharmastala.

3. Ten commandments You shall not kill You shall not commit adultery You shall not steal You shall not bear false witness against your neighbor You shall not covet your neighbors home, wife nor his slave,OX, ass or anything that belong to him

4.The philosophical system The epicureans who taught that pleasure was the chief good (American-western) The doctrine of the stoic, a school of ancient philosophy strongly oppose to the above (they are for disciplined , hardworking, thirftly lifestyle) Indian philosophy?

5. Code of conduct (in company etc) Company codes Company operative policies (a gift, customer complaints etc) Code of ethics (Professional or industrial association have developed codes of ethics

6.Cultural Experience Steiners refers to the rules, customers & standard transmitted from generation to generation as guide lines for appropriate conduct. Individual values are shaped in large measures by the norms of society

Stage of moral development: Research confirms the existence of three levels of on developing moral understanding ( Lawrence Kohlberg).Each composed of two stages. At each successive stage, an individuals moral judgement become less and less dependent on outside influences. The three levels and six stages are described in below exhibit The first level is labeled preconvention. At this level, a persons choice between rights or wrong is based on personal consequences involved, such as physical punishment, reward, or exchange of favors. Ethical reasoning at the conventional level indicates that moral values reside in maintaining expected standards and living up to the expectations of others. At the principled level, individuals make a clear effort to define moral principles apart from the authority of the groups to which they belong or society in general. We can draw some conclusions from research on the levels and stages of moral development. First, people proceed through the six stages sequentially. They move up the moral ladder, stage by stage 4. They are limited to obeying the rules and will be inclined to behave ethically, although for different reasons. For instance, a manager at stage 4 will try to be a good corporate citizen by making decisions that respect the organizations rules and procedures; and a stage 5 manager is likely to challenge organizational practices that he or she believes to be wrong

Moral Responsibility Establishing Moral responsibility has the connotation of law or rules in addition to its ethical implication.

Moral standards are not about the effect of ones act and deeds on the self only. They are more about ones act on the health hygiene, safety and well being of others. Therefore the principles to establish moral responsibility are:-

1.Ignorance of fact or consequence 2.Ignorance of moral standards 3.Ignorance generally connected Uncertainty, difficulty and involvement. ETHICAL ISSUES IN SOCIETY 1. Corruption 2. Fraud(Deception) or dishonesty 3. Theft 4. Unfair discrimination 5. Coercion (force of intimidation)

1. Corruption Building fall down due to noncompliance of building norms

-Misappropriation of vehicles -Adultering drugs -Education not providing for rural childrens Causes of corruption Low salaries Cultural way of offering gift Absence of rules, policies and legislations Absence of transparency Absence of accountability Absence of watch dog institutions Shortcoming in judicial system


Fraud Criminal law(sec 420) Civil law (tort) civil wrong Under criminal law- deliberately deceiving any person in order to damage them misrepresentation of cheque etc. Under civil law making false representation of a fact- false loan offerings.


Theft have different characteristics Forcefully removing goods and article from anothers possession White collar theft like- copyright, trade mark, patents etc.

4.Unfair discrimination 1. Job discrimination 2. Pay and promotion discrimination 3. Sex discrimination 4. Age discrimination 5. Discrimination on the basis of caste 5.Sexual harassment in India Vishaka V state of Rajasthan 1997 the supreme court of India provided certain remarks Physical contact Demand or request for sexual favours Sexually coloured remarks Display of pornography Any other unwelcome-physical, verbal or nonverbal conduct of sexual nature

These will lead to sexual harassment

6.Coercion Coercion is the practice of compelling a person to act by employing threat or force. Coercion means compelling another to act or think in a certain way through the use of pressure, threats or intimidation.

Ex: black mailing, extortion etc

The three unsettling demand for rights Ethical concepts of rights The right to privacy The right to individual choice(eg. a) right to choose by consumers b) right to choose employment) Right to a minimum standard of living

Six institutions for regulating ethics 1.Market systems 2.Respect for family and other institutions for socializing individuals 3.Respect for law 4.Respect for professional codes 5.Organizations as vehicles of ethical synergy 6.Respect for rituals and symbols Two time honored formulae The golden Rule and the criterion of Universal ability The Greatest good for the greatest numbers

Test for Ethics Front page test Golden rule test Dignity and liberty test Equal treatment test Personal gain test Congruence test Procedural justice test Sixteen basic overlapping sometimes contradictory vaues

Controlled Greed (Lobha) Pursuit of pleasure (satisfaction of participating in a company with his ethical values where it is valued) Efficiency and work Ethics(Bhagavatgeetha) Truthfulness Transparency and honesty Compassion and charity Piety(Bhakthi)

-Sacrifice (eg P C Ray) Stoic dignity (ending with courage-pain, adversity and failure) Righteous pride, envy and violence Camaraderie and fraternity (Brotherhood) Trust and co operation Tolerance, pluralism and meliorism Gratitude and respectfulness Harmony with self, society and nature Evolutionary destiny of co operation

INDIAN ETHOS The Vedantic Concepts The Vedantic vision is essentially one that concerns the Ascent of Man from Jivatma to Paramatma summarised in the Mahavakayas of the Vedas such as Tattwamasi(Thou art that)or Aham Brahmasmi(I am Brahma) or Ayam Atma Brahma (This individual conseiousness is Brahma) or Pragyanan Brahma (Supreme wisdom is veinly Brahmam) This concept of ascent has been nicely encapsulated in Taithiriya upanishad in the description of the five Koshas Annamay (material), Pranamay(life -force energy) Manomay (the realm of mind), Vignanamy(scientific analysis and Anadmoy(Joy in sweetness),joy of fearlessness, Joy of utter equality the undifferntiated joyful soul)to the state of Paramatma. Manu Samhita

We quote Manusamhita (7-99)in this connection (of corporate objective) Alabdham chaiwa lipsita Labdham rakshed prayanthatha Rakshidm Wardhayennityam Wriddhang pathreshu nikshipath [The unattained target should be sought after The attained should be maintained and cared for The maintained should be grown The accumulated should be righteously applied]

The last sentence again explicitly encourages accumulated wealth derived out of efficiently achieving corporate objective to be ethically employed. The Indian ethos is the result of Hindu way of life. It says Indian life has 4 fundamental goals- dharma, artha, kama and Moksha. They call it Purushartha. (human purpose aims of human life) To fulfill these goals,human life is divided into 4 stages Brahmacharya(Student life), Grihastha(household life), Vanaprastha(Retired life) and sannyas.

Each stage spans specific period of individuals life and during which a particular goal dominates. For example during Grihasthashram the fulfilment of artha or kama goals predominate, where as during sanyashram the quest for moksha dominates.

To achieve the above mentioned goals of life 3 fundamentals paths have been suggested. KARMA (action) Bhakti(Devotion) and Jnana(Knowledge). The adaption by an individual of a marga depends on the degree and level of his psycological and spiritual evaluation , his individual volition(praverthi), his sampskara(culture), vasana(passion)and on his Gunas- namely Satva, rajas, tamus.

On the basis of the composition and predominance of the Gunas for each individual his personality takes shape. Based on his pravarthi each individual adopts a particular marga, that is suitable to his nature which Bhagavatgeetha terms Swadharma. Upanishad- The Vidhya obtained from Guru it is also known as Vedhantham or ultimate in veda.

Sometimes incompatibility among the individuals & Gunas could lead to adverse results. For example if a person is dominated by tamasic gunas adopts a jnana marga(path of knowledge) he will end up as a failure and become frustrated. Therefore Gitas insistence that each individual select his own carrer/job accordingly to his gunas and parinathi(maturity) appears not only good but also logical. Note1[These insights are immensely valuable for the modern organization and management]. Note2[ According to the Upanishads the realities of life and nature are constantly changing and nothing is absolutely permanent on this earth. Social system changes, economic system changes, organizations change, individual change, energy change its form. The only fundamental reality in creation is changeconstant change. Moreover concepts such as truth and morality are in constant flux. Lord Krishna asserted in Gita] Dharma The term Dharma is an Indian spiritual and religious term, it means ones righteous duty or any virtuous path. A hindus Dharma is affected by a persons age, class, occupation and gender. The word Dharma translates as that which uphold or supports and is generally translated into English as LAW. The various Indian religions such as Hinusim, Buddhisam, Jainisam and Sikhism have all accorded a central focus to Dharma and advocates its practice. Each of these religious emphasizes Dharma as the correct understanding of reality in its teachings. The antonym of Dharma is Adharma meaning unnatural or immoral. In traditional Hindu society Dharma has historically denoted a variety of ideas such as vedic ritual, ethical conduct, caste rules and civil & criminal law. As said earlier in Hinduisam Purushartha is one of the cannonical four ends or aims of human life. They are

1) Dharma- Righteousness, duty, morality, virtue, ethics encompassing notions such as Ahimsa, satya etc geetha on righteousness(chapter 16) 2) Artha Wealth, prosperity, Glory 3) Kama - Wish, needs, desire 4) Moksha (liberation of the spirit from samsara) The secular goals of artha & kama are integrated into the model with in the bounds of dharma or ethics moral prosperity and moksha- liberation of the spirit from samsara Practice of Dharma leads to perfect realization of essential unity or the final end, the highest good namely Moksha. The practitioner experience peace, joy, strength and tranquility within himself. His life become thoroughly disciplined. His power and capacities are exceedingly intensified

Dharma is that which leads you to the path of perfection and glory. Dharma is that which help you to have direct communication with the Lord. Dharma which makes you divine. Dharma is the ascending stairway into God. Self realization is the highest Dharma. Dharma means Achara or regulation of daily life . Achara is the supreme Dharma. It is the basis of Tapas or austerity It leads to wealth, beauty, longevity and continuity of his age. Evil conduct and immorality will lead to ill fame, sorrow disease and premature death. Dharma has its roots in morality. The controller of Dharma is God himsel. That which leads to the attainment of Abhyudaya (prosperity in the world)and Nihsreyas total cessation of pain and attainment of eternal blis here after is Dharma. Kinds of Dharma according to Manu there are the ten fold characteristics of Dharma. Sanathana Dharma (Eternal Law) Samanya Dharma ( General duty) Visesha Dharma ( Special duty) Varnashrama Dharma (duties of caste & order) Svadharma (ones own duty) Yuga Dharma ( Duty of the age or period in history) Kula Dharma ( Duty of family) Manava Dharma (Duty of mankind) Purusha Dharma (Duty of male) Stri Dharma (Duty of female) Raja Dharma ( Duty of King) Praja Dharma (Duty of subjects) Pravarthi Dharma ( Worldly life) Nivrth Dharma (Duty in spiritual life) Nishkama Karma Nishkama karma or self less or desire less action is an action performed without any expectation of fruits or results. Is the central tenet of karma yoga path to liberation, which has now found place not just in business management, management studies as well is promoting better business ethics. It advocates achieving success following the principles of Nishkama

karma & going beyond personnel goals and agendas and pursuing actions for greater good. This is the key message of Bhagavat Geetha also. I Indian philosophy action or Karma has been divided into 3 categories according to their intrinsic qualities or guna. Here Nishkama karma belongs to the Ist category the Satisk(pure) or actions which add to calmness. The sakam karma (self centered action) comes in the rajasika category and Akarma(in action) comes under the third tamarika which correlates to darkness or inertia. Holistic approach of Indian Ethos Holistic is about caring all component of the entity; it is an all inclusive approach. The self, individual, society and the universe ; the purpose, means, truths and path or whatsoever it takes to complete the mission of an entity. It is about a sense of respect, harmony and equity in matters pertaining to others in the system. How so ever subtle intangible or tangible that matter could be. On the face of it corporate governance and holistic growth may seem inconceivable- primarily because the traditional belief that business is for profit & business offers little space to think about others. However it is being realized more and more that this focus is not quite tenable as past experiences show(economy in Japan, America etc.) and is proving to be illusory Holistic growth is gradually becoming an integral part of management the world over. Gradually ethics, spirituality and holistic approach to the governance of business becomes integral and essential for sustainability

Note: [Many people believe that ethics and spirituality run counter to economic prosperity . Business devoid of spirituality breeds greed and exploitation both significant factors in the current economic turmoil. The very heart of business will be lost if unethical means are used to make quick profit only. Boldly embracing an ethical approach we can ensure long term business success and sustainable future for all. Indian Ethos Indian ethos refers to the principle of self management and governance of society (as we have discussed), entity or system by wisdom as revealed and brought forth by great scriptures like Veda, Upanishads, Gita, Bible, Koran. The wisdom evolved through the age old practices of Indian Gurus and now found to have profound implication for self management and good governance of a strong society and business environment. The holy books brings to light six basic principles that are applicable to the principles of management & governance namely

1) Holistic approach 2) Equal importance to subjectivity and objectivity 3) KARMA Yoga 4) Respect to each soul as a potential god 5) Co operation 6) Yogah karmashu kushalam 7) The holistic Approach In holistic approach governance is based on the spiritual principle of oneness, non duality or on the concept of Advaita. This is a direction to unity where the entire universe is one- an undivided whole with each element and each entity is connected with the other for well being. It is an integrated approach to consider part in a whole system. Nothing is perfect without the whole of it being complete. In the holistic approach integration, cooperation, synthesis and harmony (based on concept of team and unity of purpose)provide extraordinary power to deliver real prosperity, enduring success and lasting consequences. It is based on Vedic idea of corporate culture.

Sangacahadhvam Samvadadtvam Sammomanamsi janatam Samani va akuti samana hridayani va Samana mastu vo mano yatha va susahasati This is in essence Common be your prayers common be your goal Common be your purpose common be your deliberations Common be your desires, united be your hearts United be your intentions perfect be the union amongst you

2) Equal importance to subjectivity and objectivity This is an important aspect of Indian philosophy where no distinction is made between the subject and the object. They are equally important , while the former is subtle and intangible , the latter is concrete and tangible(visible).

According to Indian Ethos creator is subjective and creation is objective. Insight(the creator) is considered more important than outsight( the creation). Human and ethical values integrity, courage, vision, honesty, purity of mind and soul, truth and social awareness among others are subjective , subtle and intangible process.

These inner resources of human being are important than material objectives, more powerful than external resources They are creator of external resources and there in emerges an important concept of management , that we are not limited by resources but by our ideas. The quality of creator is a critical requirement of todays estranged business enterprise. If they have to overcome the many apparent limitations that lead managers to adopt shortcuts. 3) KARMA Yoga This is yoga of selfless service to others. It is about identifying ones priority and then acting responsibly to accomplish the same. Gita declares Do your duty without ego and without calculating your gain. You have the right to work but not the wish for the fruit. Karma preaches Nishkama work, which is divine. Karma implies work with accountability where you remain responsible to others for what ever goes right or wrong. 4) Respect to each soul as a potential god Implies divinity of soul with immense power for self development. Divinity implies wisdom perfection of knowledge and power. Every human being has the power to raise- if only respected, encouraged and empowered Thus human being are an invaluable resource of power to a nation or in business when it comes doing what is apparently impossible and achieving extra ordinary results 5) Co operation is the road to success. The Gita says By co operation and mutual help all shall achieve the highest human welfare. This implies unity is strength. Co operation, unity and self less ethos can bring all- round prosperity and success in an organization. Or a society. It is a tool of team work. Human beings have a tendency to discriminate and divide but the mantra of co operation inspires to work with each other and work for each other. 6) Yogah karmashu kushalam

Implies working with excellence and with devotions but without attachment. This Mantra is with a view to develop an attitude towards work without hankering/bickering for benefits and rewards. It helps people to develop values and skills for excellence. It binds them to work with devotion and skill- without expecting personnel gain or without being motivated by selfish desire. It teaches us to be part of one system and be valuable to others if we have to add value to ourselves An Alternative Concepts of Business And Industry Basis on

Indian Ethos There are many Models The Chakrabarty Model, Jitatnanda Model and Sheslekar Model. The models consider basic principles of Indian Ethos viz 1. Immense potential energy and talents for perfection as human being has the spirit within his heart. 2. Holistic approach indicating unity between the Divine, individual self, and the universe. 3. Subtle, intangible subject and gross tangible objects are equally important. One must develop ones Third Eye, jnana chakshu, the Eye of Wisdom, Vision, Insight and Foresight. Inner resource are much more powerful than outer resouces. Divine virtues are inner resources. Capital, material, plant and machinery are outer resources. 4. Karma yoga offers double benefits private benefits, self purification and public benefits. 5. Excellence at work through self-motivation and self-development is the best means of total quality management. 6. Cooperation is a powerful instrument for team work and success in any enterprise involving collective work. A comparison of the Western management concepts and parallel concepts based on Indian ethos would be useful at this juncture. As per Indian Ethosin Management the main job of management is not producing results. Workers are to produce results; managers produce performers. Top management is visionary. They plan 5 to 10 years ahead from now. Managers has two duties. To conclude current Management concept and redefining it as per Indian Ethosin Management is given below. MANAGEMENT CONCEPTS