Business Ethics- A Passing Fashion

As per words of Aristotle
“We do not act rightly because we have virtue or excellence, but we rather have those because we have acted rightly”.
Truth don’t have any alternatives the same is true with topic under discussion. Yes business ethics has certainly turned up as a passing fashion nowadays. First of all, what does business ethics means it refers to the moral principles that govern business activities. These provide the code of conduct for managers & employees in performing their business related deeds.
As per Stanley Jones, a famous American, among seven deadly sins one is business without morality. And same is true for today’s business scenarios.
Examples of few years back scandal associated with ENRON, and that associated with SATYAM is still fresh in the minds of common people, had there been ethical practices, things would have been certainly different for the IT giant. Each and every businesses and corporations of today are having their Mission Statement engrossed with customer at the centre, but there is no say of ethical practices and behaviour in achieving the goals and plans of the businesses.
Companies having greased with ethical practices in its organisational systems are more likely to attract investment and human capital, retain talents, differentiate themselves in the markets and create a perception of being friendly.
But, scenario has changed and everything has undergone a transformation as far as ethical practices are concerned. Now every company is just putting the cover of ethical practices in order to lure the best possible gains to the company, in particular, spending few thousands of rupees in the name of corporate social responsibility is just a way to swindle the stakeholders, people and government.
Value based organisations, such as Infosys, has demonstrated that even so-called soft concept can be very powerful. As ethics covers all the possible areas of business, end and means should justifiable as per the norms of society. Rather than to become showy characters businesses should integrate core values, such as, integrity, honesty, fair practices, trust, respect with policy making and decision making.