Business Ethics

Business ethics (also known as corporate ethics) is a form of applied ethics or professional ethics that examines ethical principles and moral or ethical problems that arise in a business environment. It applies to all aspects of business conduct and is relevant to the conduct of individuals and business organizations as a whole. Business ethics can be both a normative and a descriptive discipline. As a corporate practice and a career specialization, the field is primarily normative. In academia descriptive approaches are also taken. The range and quantity of business ethical issues reflects the degree to which business is perceived to be at odds with non-economic social values.

Management Thoughts In Indian Epics

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?… Read the rest

Abey Francis

Indian Ethos For Modern Management

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 Quran.

There are 6 basic principles, which come to light in the holy books applicable in today’s management world. They are :

  1. Each soul is a potential God
  2. Holistic approach
  3. Equal importance to Subjectivity/Objectivity
  4. Karma yoga
  5. Yogah Karmasu Kaushalam
  6. Co-operation
1. 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.… Read the rest

Abey Francis

A comparative study of Value System of Japan, China , America and India

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.… Read the rest

Abey Francis

Case Study on Corporate Governance: UTI Scam

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.… Read the rest

Abey Francis

Securities Scams In India

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.… Read the rest

Abey Francis

Basel Committee On Banking Supervision

The Basel Committee on Banking Supervision (BCBS) was formed in response to the messy liquidation of a Cologne-based bank in 1974. On 26 June 1974, a number of banks had released Deutsche Mark (German Mark) to the Bank Herstatt in exchange for dollar payments deliverable in New York. On account of differences in the time zones, there was a lag in the dollar payment to the counter-party banks, and during this gap, and before the dollar payments could be effected in New York, the Bank Herstatt was liquidated by German regulators.

This incident prompted the G-10 nations to form towards the end of 1974, the Basel Committee on Banking Supervision, under the auspices of the Bank of International Settlements (BIS) located in Basel, Switzerland.… Read the rest

Abey Francis