Business and society have been coeval since time immemorial. Only the nature of relationship between the two has undergone change from profit-drenched motive to people motive. Business history all over the world is replete with such examples that ultimately the businesses conducted in an ethical or good manner survive and succeed and those conducted in an unethical manner flounder and fizzle out in due course of time. The reason is ‘Satymev Jayate’ i.e., only the truth wins. It is against this background, the present paper makes an attempt to explain and exemplify how ethical conduct of business proves good for business itself.
Get full access to this article
View all access options for this article.
References
1.
Anonymous (1983). The complex case of the US vs. Southland, Business Week, 21 November.
2.
BoatrightJohn R. (2003). Ethics and Conduct of Business, New Delhi: Pearson Foundation.
3.
BowieNorman F. (1988). Fair markets, Journal of Business Ethics, 7.
4.
DruckerPeter (1954). The Practice of Management, New York: Harper & Row Publishers.
5.
FriedmanMilton (1962). Capitalism and Freedom, Chicago: University of ChicagPress.
6.
FriedmanMilton (1970). The social responsibility of business is to increase its profits, The New York Times Magazine, September 13.
7.
KhandwallaPradip N. (2004). Management paradigms beyond profit maximization, Vikalpa, 29.
8.
KrebsD. (1982). Altruism: a rational approach, in Altruism and Helping Behaviour (MacaulayJ.BerkowitaL., eds.). New York: Academic Press.
MendonaManuelKanungoRabindra N. (1998). Ethical entrepreneurship: challenges and rewards in Entrepreneurship & Innovation: Model for Development Rabindra N. Kanungo, RabindraN. eds.). New Delhi: Sage Publications India Private Limited.
11.
PaineLynn Sharp (1994). Law, ethics, and managerial judgement, Journal of Legal Studies Education, Vol. 12.
12.
PratleyPeter (1997). The Essence of Business Ethics, New Delhi PrinticeHall of India Private Limited.
13.
SekharR. C. (2002). Ethical Choices in Business, New Delhi: Response Books.
14.
SenAmartya (1993). Does business ethics make economic sense?, Business Ethics Quarterly, 3.
15.
ShethN. R. (2005). Ancient wisdom for a knowledge society: a worm's-eye view, The Journal of Entrepreneurship, 14, (2) July December.
16.
SmithAdam (1776). The Wealth of Nations, New York: Random House.
17.
SteidlmeierPaul (1992). People and Profits: The Ethics of Capitalism, Englewood Cliffs NJ: Printice-Hall.
18.
StevensonSinclair (1984). The Heart of Jainism, New Delhi: Oxford University Press.
19.
StoneChristopher D. (1975). Where the Law Ends? The Social Control of Corporate Behaviour, New York: Harper & Row.
20.
VallanceElizebeth (1995). Business Ethics at Work, Cambridge: Cambridge University Press.
21.
VelasquezManuel G. (2002). Business Ethics (Concepts and Cases), New Delhi: Printice-Hall of India Private Limited.
