2.  „Global Village‟-Coined by Marshall Mc Luhan
 Globalization of Economy
1. Migration
2. Cultural exposure
3. Change in value perceptions
 Connected world, not isolated
 Quick modes of travel and instant means of
communication
 Markets, people and ideas linked together

3.  Mr. N.R.Narayan Murthy:
1. Cheapest source of funds
2. Economic production
3. Most profitable markets
 Borderless business or Business without
borders
 Liberalization of business activity
 Economic reform
 Competition or market-driven economy
 Moving towards a world economic order
 Dominance of MNCs

4.  Increased Bilateral and Multilateral trade
agreements
 Increased international trade-
exports/imports
 FDI
 Role of Bretton Woods Institution- IMF and
World Bank
 In a single generation
1. Unparalleled prosperity
2. Increasing poverty
3. Rapid spread of diseases(such as AIDS)
4. Ecological degradation

5.  Unethical exploitation of resources
 Lop-sided development
 Corporate ethics influenced by profit motive
 Accounting scandals such as at Enron, World.com
of USA
 Widening gap between the rich and the poor
countries
 Overriding concern for profit

6.  Emphasizes genuine global economic equality
 Shared responsibilities for global problems
 Inclusive growth
 Sustainable development
 Acknowledging dignity of the human being
 Must be connected by shared values

7.  Holistic approach
 Concerns the whole rather than the parts
 Greater common good or social welfare
 Bourgeois and proletariat or the working
class-class struggle
 Universal brotherhood
 Social justice

8.  Marxist theory: state =coercive power=class
rule
 Fall of Soviet Union on August 19,1991
 Values are the spiritual aspect of life
 It is not religion
 Looking beyond self
 Being compassionate
 Being empathetic

9.  Sharing ,caring, giving and nurturing
 Brings change in self and others
 Spiritual input improves morale
 Spirituality creates meaning in the work place
 Leads to a sense of belongingness
 Guides organizational transformation

10.  Value –driven management
 Unquestionable integrity
 Ethical values
 Social responsibility
 Creates a good man, a good manager
 Influences quality of life

11.  Emphasis on material welfare
 Respect for truth
 Recognizes pluralism
“India is not a secular state”
 Not a theocracy
 No state religion
 All religions are equal

12.  Science enlightens
 Tells how things are in reality
 Provides knowledge
 Tells us how things ought to be
 What should be happening
 What is right and wrong
 B schools educate students in business ethics
 An antidote for inward loneliness