THE ROLE OF ETHICS IN CORPORATES IN THE NEW MILLENNIUM

Management

International Conference on "Innovative Management Practices"

This new millennium megatrend is ‘responsible businesses. The consumer movement and human rights activists have become increasingly empowered, and they actively publicize news of unethical conduct of companies. These in turn have tremendous political ramifications in India. Operations of many multinational and Indian corporations have been put under scrutiny by these groups. They demand the companies to have appropriate Code of Ethics (CoE); to end the use opportunistic and discriminatory business practices; or to establish fair wage policies for the local employees, or to have the clear cut public relation norms so far as paid news and derogative advertisements are concerned, etc. Ethics have become an organizational priority. In the 21st century, ethics is neither a luxury nor an option. There is a growing impatience within society with selfish and irresponsible actions that impoverish some, while enriching the crafty.

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