Authors

1. Dr. M. Sakthivelmurugan
2. V. R. Sridhar

Affiliation

• Principal D. B. Jain College Thorapakkam Chennai
• Manager-Finance Sundaram Clayton Limited Padi Chennai

Abstract

Ethics is a system or philosophy of conduct. It deals with what is right or wrong, moral duty and obligations. Running a business is ethically well pay-off in terms of profit, incentive in the long run. Business compels the person to follow ethics, due to hyper-competitive environment ethical considerations takes back seat in relation to the business.
This paper aims to bring out the issues involved in dealing with the ethics in different dimensions in business. There may not be any ready-made answers or solutions to ethical problems but an individual should gear up for better resolution of the issues. There are many ethical issues that arise in the normal course of the business. This paper analyses some of the issues in various areas such as Finance, Marketing, HRM and Production.
It also deals with directors’ ethical governance to perform ethical leadership role effectively.
Even there are some critical ethical issues in international business. The Company is expected to follow ethical code which applies in that country but due to hyper competitive world, the employee is forced to break the ethical code. Necessary training has to be provided to the employee to enable him to handle the ethical issues which applies in that country.
Ethical policies and guidance should be more practical and made locally relevant to enable an employee easily understandable. Clear the employees’ doubts about the company’s commitment to ethical code. Implement whistle blowing process to enable employees to approach easily senior management on ethical issues and also for addressing the same. Companies should have mechanism to measure the managers’ and leaders’ personal integrity and develop the culture of the ethics by way of 360-degree feedback, audits or surveys and the ethical results of the same to be linked to their promotions and compensation packages.

Keywords

Working Capital Management , Negative Working capital

References

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