Jagrati AwasthiAIR 2 · CSE 2020 · 198 wordsTheir whole copy
Opening
As the government moves towards a more restricted role in the public sphere, corporates and companies occupy key public spaces. They create employment, provide goods and services.
Ethical practices are seen as antithetical to profit by the companies and they often engage in unethical practices for short term gains.
However, long term survival requires ethical business.
Body · points and prose
- Ethical business
- Transparent
- Fair
- Accountable
- Independent monitoring
Benefits :- (i) Trust of investor when data sharing is transparent and nothing is hidden from them.
(ii) Public trust
- reputation of company as ethical promotes its Brand image eg Tata
- CSR activities of companies earn it social capital in terms of social acceptance
- Product recall when found faulty create a market image. People trust company for its accountability. Thus selling of products increases in long run
(iii) Employee morale & productivity
- culture of fairness, gender-justice, etc improve work culture
- create a sense of pride in belonging to company, loyalty towards company.
Close · a summary
Thus ethical governance is a key to remain in public over a long term TATA are a good example as they survived an entire century in market through their good image.