Earlier, it's believed that ethics is a prerogative of individuals, but now this perception has immensely changed. Many companies use management techniques to encourage ethical behavior at an organizational level. Various techniques of managing ethics in business organizations are: Top management – The senior management of a company must be committed to ensure that ethical standards are met. The chief executive of the company must not engage in business practices harmful to employees, or the society. The top management must focus on ethical practices while informing employees of their intention. Code of ethics – One of the best practices for ethics is creating a ‘corporate ethical statement’ and communicating it within the company. Such practices enhance the company’s public image. Ethics committee – There are ethics committees in many firms to help them deal with and advise on work related ethical issues. The Chief Executive Officer can head the committee that includes the Board of Directors. Such a committee answers employee queries, helps the company to establish policies in uncertain areas, advises the Board on ethical issues, and oversees the ...

One of the greatest contributions of India to the world is Holy Gita which is considered to be one of the first revelations from God. Bhagavad Gita means song of the Spirit, song of the Lord. The Holy Gita has become a secret driving force behind the enfoldment of one's life. In the days of doubt this divine book will support all spiritual searches. This divine book will contribute to self reflection, finer feeling and deepen one's inner process. Then life in the world can become a real education—dynamic, full and joyful—no matter what the circumstance. May the wisdom of loving consciousness ever guide us on our journey? What makes the Holy Gita a practical psychology of transformation is that it offers us the tools to connect with our deepest intangible essence and we must learn to participate in the battle of life with right knowledge? The Holy Gita is the essence of the Vedas, Upanishads. It is a universal scripture applicable to people of all temperaments and for all times. It is a book with sublime thoughts and practical instructions on Yoga, Devotion, Vedanta and Action. It is profound in thought and sublime in heights of vision. It brings peace and solace to souls ...

Indian ethos for management means the application of principles of management as revealed in our ancient wisdom brought forth in our sacred books like our Gita, Upanishads, Bible and Kuran. There are 6 basic principles, which come to light in the holy books applicable in today’s management world. They are : Each soul is a potential God Holistic approach Equal importance to Subjectivity/Objectivity Karma yoga Yogah Karmasu Kaushalam Co-operation Each Soul is a potential God A human being has a soul, a spark of the Divine. The divine resides in the heart of a person. The Divine means perfection in knowledge, wisdom and power. Therefore a human being has immense potential power or energy for self – development. Thus human efforts can achieve even an apparently impossible goal and convert the impossible into a reality. The partnership of  God and Man can bring about extraordinary or miraculous results; only if man chooses willingly to collaborate with God and actively participates in the affairs of the society by right action under his guidance and grace. He can bring about not only personal development, harmony, happiness but also prosperity of his own ...

In order to understand the members of a particular society, it is required to have some idea of their daily lives , their tradition , their beliefs , their way of looking at the world , their value system. Values determine what is right and what is wrong for an individual , for a group of people ,for the people living in a particular nation. Individual’s value system decide the dos and the don’ts in their life. It forms the foundations of their characters. Depending on their value system  , in a given situation they behave in a particular manner. The culture of various countries differ. There may be some similarity, but they are not the same. The values, beliefs and  notions of Japan differ that of America, china or India. An organization is a part of the society . therefore, as far as an organization in a particular nation is concerned, its value system also differs from another organization situated in some other country. A comparison of the value system of Japan, china , America and India are given below: Japan Dedicated to service: Japanese believe in hard work being totally dedicated and thus providing best quality products to the customers. It indicates that ...

Of all the recent encounters of the Indian public with the much-celebrated forces of the market, the Unit Trust’s US-64 debacle is the worst. Its gravity far exceeds the stock market downswing of the mid-1990s, which wiped out Rs. 20,000 crores in savings. The debacle is part of the economic slowdown which has eliminated one million jobs and also burst the information technology (IT) bubble. This has tragically led to suicides by investors. And then suspension of trading in US-64made the hapless investors more dejected at the sinking of this "super-safe" public sector instrument that had delivered a regular return since 1964. There is a larger lesson in the US-64 debacle for policies towards public savings and public sector undertakings (PSUs). The US-64 crisis is rooted in plain mismanagement. US-64 was launched as a steady income fund. Logically, it should have invested in debt, especially low-risk fixed-income government bonds. Instead, its managers increasingly invested in equities, with high-risk speculative returns. In the late 1980s UTI was "politicised" with other financial institutions (FIs) such as LIC and GIC, and made to invest in certain favoured scrips. By the ...

Securities Scam 1992 In April 1992, press reports indicated that there was a shortfall in the Government Securities held by the State Bank of India. Investigations uncovered the tip of an iceberg, later called the securities scam, involving misappropriation of funds to the tune of over Rs. 3500 Crores. The scam engulfed top executives of large nationalized banks, foreign banks and financial institutions, brokers, bureaucrats and politicians: The functioning of the money market and the stock market was thrown in disarray. The tainted shares were worthless as they could not be sold. This created a panic among investors and brokers and led to a prolonged closure of the stock exchanges along with a precipitous drop in the price of shares. Soon after the discovery of the scam, the stock prices dropped by over 40%, wiping out market value to the tune of Rs. 100,000 crores. The normal settlement process in government securities was that the transacting banks made payments and delivered the securities directly to each other. The broker's only function was to bring the buyer and seller together. During the scam, however, the banks or at least some banks adopted an alternative settlement ...