Ethics and Corporate Social Responsibility are recognized as important concerns in making decision in all aspects of our life. And it’s contributing to accelerate the process of overall development of a nation. India being the second most populous country in the world, and have the largest number of people in need of basic amenities call for more intensive efforts as part of such initiatives in the health care space of the nation. We all know that people engage in business to earn profit. However, making profit is not the sole function of the business. It performs number of social function as it is a part of society. It takes care of those who are instrumental in securing its existence and survival. Business ethics are nothing but the application of ethics in business. It proves that business can be and have been ethical and still make profits. Today more and more interest is being given to the application of ethical practices in business dealings and the ethical implications of business. The paper delves into a comprehensive understanding of how Business Ethics and Corporate Social Responsibility involves as concept and the reason that encourage company in India to be socially responsible.
Management’s only social responsibility is to maximize profits by operating the business in the best interests of the stockholders. WTO
Expending the firm’s resources on doing “social good” unjustifiably increases costs that lower profits to the owners and raises prices to consumers.
Management’s only social responsibility is to maximize profits by operating the business in the best interests of the stockholders. WTO
Expending the firm’s resources on doing “social good” unjustifiably increases costs that lower profits to the owners and raises prices to consumers.
Business ethics, Corporate Governance,CSR & SustainabilitySANA KALANIYA
Presentation highlighting Global Ethical Issues Corporate Social responsibilty and Sustainability. Recent Trends of CSR, CSR mandate laws and a video of companies contribution during the COVID-19 considered as CSR activity under the ambit by the Government.
Elated to share this, Happy Learning!
Sustainable development – meaning, social, economic and
environmental dimensions, principles of sustainable
development. Environment management systems – meaning,
scope, objectives, planning and implementation; ISO 14000;
environmental audit; 4Rs; environmental labeling. World
Business Council for Sustainable Development. Millennium
Development Goals and Sustainable
Development Goals – the role of and implications for business
Social Responsibility and Ethics in Strategic ManagementRintis Eko Widodo
The concept of social responsibility proposes that a private corporation has responsibilities to society that extend beyond making a profit. Milton Friedman and Archie Carroll offer two contrasting views of the responsibilities of business firms to society.
A Corporate Social Responsibility, generally noted by “CSR”, refers to a corporation's initiatives to assess and take responsibility for the company's effects on environmental and social well-being. It generally applies to efforts that go beyond what may be required by regulators or environmental protection groups. Governments seeking to advance sustainable development are increasingly turning to policies and strategies that encourage, support, mandate, or directly demonstrate more socially and environmentally sound business practices. A central component of these policies involves promoting increased transparency of economic activities.
Business ethics, Corporate Governance,CSR & SustainabilitySANA KALANIYA
Presentation highlighting Global Ethical Issues Corporate Social responsibilty and Sustainability. Recent Trends of CSR, CSR mandate laws and a video of companies contribution during the COVID-19 considered as CSR activity under the ambit by the Government.
Elated to share this, Happy Learning!
Sustainable development – meaning, social, economic and
environmental dimensions, principles of sustainable
development. Environment management systems – meaning,
scope, objectives, planning and implementation; ISO 14000;
environmental audit; 4Rs; environmental labeling. World
Business Council for Sustainable Development. Millennium
Development Goals and Sustainable
Development Goals – the role of and implications for business
Social Responsibility and Ethics in Strategic ManagementRintis Eko Widodo
The concept of social responsibility proposes that a private corporation has responsibilities to society that extend beyond making a profit. Milton Friedman and Archie Carroll offer two contrasting views of the responsibilities of business firms to society.
A Corporate Social Responsibility, generally noted by “CSR”, refers to a corporation's initiatives to assess and take responsibility for the company's effects on environmental and social well-being. It generally applies to efforts that go beyond what may be required by regulators or environmental protection groups. Governments seeking to advance sustainable development are increasingly turning to policies and strategies that encourage, support, mandate, or directly demonstrate more socially and environmentally sound business practices. A central component of these policies involves promoting increased transparency of economic activities.
Lamb, Hair, McDaniel
2012-2013
CHAPTER 3
Ethics and Social Responsibility
DAETERMINANTS OF A CIVIL SOCIETY
1
DETERMINANTS OF CIVIL SOCIETY
Social Control
Factors keep people and organizations from running amok and harm also create order in a society like ours.
3-1
Model of social control
Ethics.
Law.
Formal and Informal Groups.
Self-regulation.
The Media.
An Active Civil Society.
The Concept Of Ethical Behavior
It has been said that ethics is something everyone likes to talk about but nobody can define.
Ethical Theories:
the ethical theories that apply to marketing :-
DEONTOLOGY
UTILITARIANISM
CASUIST
MORAL RELATIVISM
VIRTUE ETHICS
3-2
ETHICAL BEHAVIOR IN BUSINESS.
Depending upon which, if any, ethical theory a businessperson has accepted and uses in his or her daily conduct, the action taken may vary.
Morality and Business Ethics.
Today’s business ethics actually consist of a subset of major life values learned since birth.
Ethical Development is thought to consist of three levels:-
Preconventional morality, the most basic level, is childlike.
Conventional morality moves from an egocentric viewpoint toward the expectations of society.
Postconventional morality represents the morality of the mature adult.
3-3
3-3a
Ethical Decision Making
The following factors tent to influence ethical decision making and judgments:
Extent of ethical problems within the organization.
Top management’s actions on ethics.
Potential magnitude of the consequence.
Social consensus.
Probability of a harmful outcome.
Length of time between the decision and the onset of consquences.
Number of people to be affected.
3-3b
Ethical Guidelines and Training
Creating ethics guidelines has several advantages;
A code of ethics helps employees identify what their firm recognizes as acceptable business practices.
A code of ethics can be an effective internal control of behavior.
A written code helps eployees avoid confusion when determining whether their decisions are ethical.
The process of formulating the code of ethics facilitates discussion among employees about what is right and wrong and ultimately leads to better decisions.
3-3c
CORPORATE SOCIAL RESPONSIBILITY
(CSR) is a business’s concern for society’s welfare.
Stakeholders and social responsibility:
Stakeholder Theory ethical theory stating that social responsibility is paying attention to the interest or every affected stakeholder in every aspect of a firm’s operation.
3-4
3-4a
Pyramid of corporate social responsibility
A model that suggests corporate social responsibility is composed of economic, legal,
Ethics, and philanthropic responsibilities and
that the firm’s economic performance
supports the entire structure.
3-4b
ARGUMENTS FOR AND AGAINST SOCIAL RESPONSIBILITY
Sustainability
The idea that socially responsibility companies will outperform their p ...
Report- Impact of CSR on financial performance of the companyBindu Priya Pasham
A team of dedicated professionals from IIM Udaipur, Futurescape and Economic Times have worked on the CSR study of 2015 and has listed India’s top 100 companies for CSR in the year. The top 5 companies and the bottom top 4 companies of the list i.e. 95-99 companies will be considered. The financial data of those companies will be taken and ratios will be performed, so that we come to know whether CSR policy has benefited the companies financially or not.
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Microfinance and the Challenge of Financial Inclusion for Sme’s Development i...IOSRJBM
This paper examined microfinance and the challenge of financial inclusion for SMEs development in Nigeria. The study adopted two separate econometrics models for capturing and testing for significance in the stated objectives between 2005 and 2015. The first model determined whether financial inclusion improve the financial well-being of low-income savers in the study period. The second investigated the impact that micro finance has on the performance of small and medium scale enterprises. Each of the models was subjected to the Ordinary Least Square regression to determine the appropriateness of models estimated. Findings from the empirical results in model one (1) and two (2) indicated relationship between financial inclusion in Nigeria, microfinance, and small business enterprises over 10 years period of study. The study found out that there is a significant relationship between financial inclusion and financial well – being of the low income earners. Empirical finding that examines the relationship between microfinance and small business in Nigeria indicates that there is a negative significant relationship between loan to small enterprises and loan to rural areas in Nigeria in the period under study. The study suggests therefore that financial inclusion will have a positive significant impact on the development of small business if the plan to include everyone works in Nigeria.
Corporate Capital of Domestic and Foreign Firms in Africa – An Empirical ReviewIOSRJBM
The study evaluated the existence and nature of systematic competition for corporate capital between local and foreign firms operating in major African economies. The study is motivated by the debate that foreign firms have easier access to corporate capital than domestic firms, and that the problem in the global financial market might push foreign firms to rely more on domestic financial markets for funds. To achieve the goal of this study, both microeconomic and macroeconomic data were sourced from diverse sources – including the World Bank's Global Development Indicators' database and the individual annual financial reports of firms. The data generated a total of 351 firms based in 11 African countries over a period 2009 to 2014. The results show that the average ratio of total liabilities to total assets is slightly higher among the listed foreign firms (at 48.8 percent) than among the listed domestic firms (47.9 percent), although the differences does not appear significant at conventional levels (t-statistic = 0.601; prob.>t = 0.548). For the whole sample also, it is shown that foreign firms have higher long-term liabilities to total asset ratio than domestic firms, and that the difference is significant at 10 percent level. Whereas the average long-term debt ratio among foreign firms stands at 12.1 percent, for domestic firms, the level is 10.7 percent (t-statistic = 1.751; prob.>t = 0.080). In none of the four sub regions, though, does the difference in the long-term debts ratio significantly differ between domestic and foreign firms. Consistent with the statistical evidence, the descriptive results seem to suggest that the survey evidence reported by the World Bank that in Africa, foreign firms are more profitable, larger, more valued in terms of investments in fixed assets, and older than domestic firms is not true. However, as shown in this report, such differences, with the exception of asset tangibility and age, are not very significant at conventional levels. This suggests that the major source of competition for corporate finance in Africa may be on the extent of collateral value and the reputation that arises from firm age
Improvement for Criterion for Minimum Solution of Inventory Model with Algebr...IOSRJBM
For algebraic method to find the minimum point and value of inventory models, we derive the criterion to guarantee the existence and uniqueness of the interior optimal solution. Our findings will help researchers and practitioners apply inventory models in their research without referring to partial derivatives of calculus.
The Relationship between Foreign Trade and Financial Performance of the Liste...IOSRJBM
The main objective of this study was to determine the relationship between foreign trade and financial performance of the listed manufacturing companies in Nigeria. The study focused on the 32 listed companies randomly drawn from the 74 listed manufacturing companies in Nigeria. The secondary data extracted from the financial statement of these companies were subjected to both descriptive and inferential statistics. The result shows a significant positive relationship between the two variables. It was therefore recommended that the management and the board of directors of the listed manufacturing companies should intensify efforts on how the locally produced products will be able to penetrate into the foreign countries as it was discovered that majority of the goods produced by the manufacturing companies in Nigeria are consumed locally
The Government Policy on Foreign Direct Investment in Sri LankaIOSRJBM
management know-how, and access to export markets-that are desperately needed in developing countries. However foreign capital can play an important role in raising investment levels so as to accelerate economic growth in Sri Lanka as in the case of many other developing countries which are handicapped by inadequate domestic savings. The purpose of this study is to examine the Government Policy on Foreign Investment in Sri Lanka. FDI increased initially due to the favourable investment environment created by the 1977 reforms. During the 1983-89 period, the incentives for FDI were eroded by the setbacks in the foreign trade and payments liberalisation momentum and the macroeconomic disequilibrium. Even though FDI was felt down in year 2000, there were increasing trend in FDI up to year 2008 and FDI was diminished as a result of global financial crisis in year 2009. Basically due to the secure macroeconomic environment, Sri Lanka reached highest level of FDI in 2014. The prospect for a significant expansion of FDI inflows in to Sri Lanka, however, do not seems too bright. To attract further investment, it is paramount that Sri Lanka be able to provide policy stability.
The Relationship between Dividend Policy and Shareholder’s Wealth (A Case Stu...IOSRJBM
This research is about the relationship between dividend policy and shareholder’s wealth from 37 mining companies listed in Indonesia Stock Exchange (IDX) from 2011 to 2013. Independent variable which is used in this research are dividend policy and profitability. Dividend policy is measured as dividend per share (DPS) and profitability is measured as Return On Equity (ROE). Dependent variable which is used in this research is shareholder’s wealth. Shareholders’ wealth is measured as Market Price Per Share (MPPS). Investment opportunity which is measured as fixed asset growth, is used as moderating variable which can strengthen the relationship between independent and dependent variable. The result of this research proves that dividend policy has significant influence to shareholder’s wealth, while investment opportunity, as a moderating variable, is proven to strengthen the relationship between dividend policy and shareholder’s wealth.
Understanding Attitudes towards Gasoline Import Demand in Viet NamIOSRJBM
Even with its vast reserves of oil and gas potential, the government has put this fuel resource the top of priority sectors for development, as it views as central to national economic growth as well as energy security, Viet Nam has remained a net importer of petroleum products over the past eight years. On another word, Gasoline importation has been a superior absorbability on the economy of Viet Nam, the determinants of the refined oil products imported activities analysis have been found no study yet. This paper aims to suggest the leading factors affecting import demand performances for petroleum products. The autoregressive distributed lag modelling framework (ARDL) have applied to this research; we estimated various short-run and long-run import demand models for Gasoline using time series study over the period 1995-2015. The results showed that the application of gas is stable prices in both the long and short term. Other principal operators of gas import probably are the real effective exchange rate, domestic petroleum production, and population growth. Moreover, a real economic activity found the most active and influential driver of gasoline demand accordance with the inelastic and elastic coefficients estimated in the short-run and long-run, respectively.
Cost-Volume-Profit Analysis as a Management Tool for Decision Making In Small...IOSRJBM
This study aimed to figure out if small business enterprises utilize cost volume profit (CVP) analysis as a management tool for decision-making process in Bayero University Kano, with a view to shed light on the reality of the use of CVP analysis as a decision-making tool in small business enterprises. The study population is made up of the entire small business enterprises within Bayero University, Kano. Primary source of data were utilized using structured questionnaires. The hypotheses were tested using Mann-Whitney U test and Pearson correlation coefficient. A very weak relationship (0.02) was recorded, it was discovered that there is no statistical significant difference between having the knowledge of a management accounting tools and its application. The study concludes that small business enterprises utilize CVP ignorantly and it is recommended
From Local to Global- Indian Organic Produce an OverviewIOSRJBM
Organic products have a growing market both in India and globally. The study focuses to explore the strengths and weaknesses of this industry so as to tap the global demand and achieve the export target for organic products. The study will aim to perform SWOT analysis and develop TOWS matrix which will provide an insight to the players of Organic market at all levels. The strategies framed are completely based on the researcher’s interpretation of the information collected from secondary sources and telephonic interviews of the agencies
Analysis of Internal, Market & Economic Based Financial Performance Measureme...IOSRJBM
The aim of this study is to investigate the financial performance of 10 commercial banks listed on Dhaka Stock Exchange. In this paper, financial performance has been measured by using three indicators. Internal–based performance measured by Return on Assets, Market-based performance measured by Tobin’s Q model (Price / Book value of Equity) and Economic–based performance measured by Economic Value adds. The correlation and multiple regression of annual time series data is used to find the impact of bank size, credit risk, operational efficiency and asset management on financial performance measured by the three indicators, The study rejected the null hypothesis and it is found that there exist statistically significant impact of bank size, credit risk, operational efficiency and asset management with ROA and Economic Value Added. On the other hand Tobin’s Q has insignificant impact on financial performance of commercial banks
Factors Influencing Purchase Decision of InstitutionalBuyers in Bangladesh: T...IOSRJBM
The Bangladeshi poultry industry is gradually becoming a leading industry in the Bangladeshi market. It is a labor- intensive sector which does not require lengthy training. Almost anyone can be engaged in the poultry farming because it can be done either on a larger scale or in one’s backyard. The purpose of the study is to identify the institutional buyer preference and to find out the purchase criteria factors which influence the purchase decision of the institutional buyers of poultry chickens in Bangladesh. A total of 110 respondents from 8 different categories of institutional buyers, who were directly related to poultry business were randomly selected to be the respondents for the collection of information within the Dhaka Metro City. All factors were randomly selected towards the collection of relevant information following pretested questionnaire. Advance statistical tools were applied for analysis of collected data. A factor analysis was conducted to identify the purchase criteria factors i.e. Brand, Freshness, Halal, How chicken are raised, Meat Cuts (Breast / Leg), Nutrition Value, Packaging, Price Sensitivity, Processed, Production Technology and Taste. Findings from the factor analysis showed that packaging, processed, production technology, taste and how chicken are raised have a significant effect on the selection of purchase criteria of the institutional buyers and their preference..
Effect of Public Services Quality on Satisfaction and Its Implication on Publ...IOSRJBM
: This research aims to determine: 1) The influence of the public services quality on public satisfaction at Samsat Office Kendari City. 2) The effect of public services the quality on public trust at Samsat Office Kendari City. 3) The effect of public satisfaction on public trust at Samsat Office Kendari City. 4) The mediate effect of public satisfaction in strengthening the influence of public services quality on public trust at Samsat Office Kendari City.The design of this research is associative (causal) design. The object of this research is the people who employ Samsat Office services. The samples were taken by purposive sampling (designation intentionally) which employ 110 respondents. The analysis used is descriptive statistical analysis and analysis of Partial Leas Square (PLS).This research concluded that: 1) The public services quality significantly influence the public satisfaction on Samsat Office Kendari City. it indicated that the good quality of public services is reflected by accountability, responsiveness, orientation to service and efficiency indicators which will increase the public satisfaction which is reflected by their attitude to respect service officers, abide by the rules, is proud of the work of the officers, has the spirit and initiative, and avoid of conflict. 2) The quality of public services does not significantly affect the public trust on Samsat Office Kendari City. This means that the public service quality at Samsat Office Kendari city cannot increase public trust significantly caused by the public tust in the service officer has not been optimal. 3) Public satisfaction has significant effect on public trust on Samsat Office Kendari City. This means that the public satisfaction will increase public trust which is reflected by the increasing of public trust in the service facilities. 4) Public Satisfaction mediates the effect of public services quality on public trust on Samsat Office Kendari City. This means that public satisfaction can strengthen the influence of public services quality on public trust.
Impediments and Inducements to Youth Entrepreneurship Development in Sylhet R...IOSRJBM
The purpose of this paper is to explore and identify the key impediments and constraints that obstruct young people from starting and running a new venture and at the same time, inducements and stimuli that trigger youths to entrepreneurial activities. Data were collected from 80 young entrepreneurs of Sylhet, Bangladesh through a questionnaire gleaned from the literature review following a convenience and purposive sampling technique. Findings revealed, insufficient personal savings, high interest rate, and negative attitude of financial institutions to young entrepreneurs due to high default rate are the major impediments to obtaining start-up fund, being their own boss and earning more money are the prime inducements to engage in business. Parents and teachers influenced most to start business while financial risk reported as the most critical demotivator. Managing fund and fierce competition are main problems in running the business successfully. Lack of vocational education and training and inappropriate and inadequate curriculum and study programs are the key educational constraints, unsupportive tax regulations, complex business registration procedure are the leading administrative and regulatory barriers, dearth of information on available business support services and lack of training and business counseling are the major impediments of business support services. The implications of the study bear far-reaching ramifications to the concerned stakeholders for facilitating and encouraging youth entrepreneurship development by addressing the start-up constraints and problems
An Overview of Export Performance of Agricultural Products in IndiaIOSRJBM
Exports are the basis of the overall growth performance of any country. By increasing the rate of exports, any developing country can pave a way for the development by earning international liquidity thereby; sort out the problem of reserves to start up of any project to come out the circle of poverty. So, it becomes a paramount importance for the country like India to start export promotion measures to boost up the pace of its exports and India has already taken many steps to increase the level of its exports. It is concluded from the results of the study that Cotton raw including waste, iron ore, plastic and linoleum and transport equipment has been observed as the products in which exports have been increased at the maximum rate, whereas exports of Tea, Iron and steel, Mica and Leather and Manufacturing have been identified as the area in which satisfied results have not been achieved. So, it is suggested by the results of study that government should promote exports of different sectors by providing different incentives to different sectors to avail the opportunity and fill up the gaps as well. Indian agricultural export has undergone significant changes during recent times. In this context, the present study has analysed the trend in exports of agricultural commodities from India, the changes in the comparative advantage, the Indian agricultural export scenario has witnessed during the past decade and the prospects for further boosting the agricultural export. The study has also analysed the comparative advantage of India’s exports, through revealed comparative advantage (RCA). The RCA was improving in case of cotton, maize, and certain fruits and vegetables over time, but declining in case of some spices, rice and wheat. In case of plantation based spices and other commodities, India is gradually losing its comparative edge, mainly to Asian countries. The study has so identified yield improvement through growth in total factor productivity (TFP) as a potential factor that would result in generation of exportable surpluses and boosting India’s export
Job Satisfaction and Faculty Turnover Intentions: A Case of Pakistani Univers...IOSRJBM
Retaining faculty members has been a problem in many universities for decades. When competent teachers quit, they depart with critical knowledge and experience that are essential for maintaininga competitive advantage. The aim of this study was to measure the impact of four facets of job satisfaction on turnover intentions of faculty members of different universities of Rawalpindi/Islamabad. A 16-item, selfadministered questionnaire was used to gather data on independent and dependent variables. In questionnaire, researchers used 5 point Likert scale for variables to measure respondent’s possible responses. 110 questionnaires were completed and returned back. Pearson Correlation and Multiple Regression tests were used to test the hypothesis. The results showed that the three facets of job satisfaction i.e. remuneration, supervisory support and work life policies have significant and negative relationship with turnover intentions while recognition has insignificant relationship with turnover intentions and this relationship did not support the researchers’ prediction. Results have been discussed andrecommendations have been made for universities’ administrations.
Health System in India: Opportunities and Challenges for EnhancementsIOSRJBM
One of the basic vitalities of good living is quick access to essential services like health care. But many times it could mean a condition of life and death for an individual who is unable to get the access to these services. Thus an important part of social sector development is incomplete without adequate health care facilities. The quality of human health is the foundation upon which the realization of life goals and objectives of a persona, the community or nation as whole depends. It is both an end and means of development strategy. The relationship between health and development is mutually reinforcing- while health contributes to economic development, economic development, in turn, tends to improve the health status of the population in a country. India as a nation has been growing economically at a rapid pace particularly after the advent of New Economic Policy of 1991. However, this rapid economic development has not been accompanied by social development particularly health sector development. Health sector has been accorded very low priority in terms of allocation of resources. Public expenditure on health is less than 1 per cent of GDP in India. This research paper focuses on the current status of the Indian healthcare industry, the challenges faced plus the comparison of few selected Indian states based on health indicators. Furthermore comparison of India with some developed and developing countries is also employed in order get the clear picture of the health sector. In order to boost the development line, some opportunities in the health care industry are also discussed and necessary policy implications. Regarding in this connection India lags behind in regard of health improvement as compared to U.S.A, Canada, China, and Brazil, but contrary to other developing countries like Pakistan, Bangladesh the scenario is better with life expectancy, Mortality ratios, health care spending speak volumes about the healthcare status. When analyzed through the prism eye, within India there are large disparities amongst states in achieving health outcomes as well. Before liberalization the improvement was at a snail’s pace, but after liberalization the whole picture changed because the key initiatives to improve the current healthcare standard a two prong strategy focusing on the infrastructure needs and the technology solution were implemented, which resulted in the healthy scenario of the healthcare industry. Healthcare sector, a leading weapon as the contributor to GDP (approx.8%) is thus the matter to be deeply looked into, so that golden harvest is reaped.
Total Quality Management (TQM) Practices toward Product Quality Performance: ...IOSRJBM
The purpose of this research was to test and analyze the effect of TQM practices impelementation which consists of leadership, strategic planning, customer focus, information and analysis, people management, and process management to product quality performance. The population were 108 food and beverage companies in Makassar, Indonesia. Respondents are production managers or operation managers. Sample technique which used is population sampling. Method of analysis which use both descriptive statistic and Structural Equation Modelling (SEM). Data processing uses two statistic tools i.e: IBM SPSS and AMOS 19.00. The findings of research indicate that leadership has significant effect on product quality performance, strategic planning has significant effect on product quality performance, customer focus has significant effect on product quality performance, information and analysis has significant effect on product quality performance, people management has significant effect on product quality performance, and process management has significant effect on product quality performance. Leadership factor has dominant effect on product quality performance (critical ratio = 9.760 > t-table = 1.960; and probability = 0.000 < α = 0.05).
The Influence of Work Culture, Work Stress to the Job Satisfaction and Employ...IOSRJBM
This research was carried out starting from the phenomenon of the performance which was not maximized by the employees of State Treasury Service Office in Jakarta. Based on the literature there was a suspicion that the performance which was not maximized due to a weak work culture, work stress and the decreasing of job satisfaction. The purpose of this research was to quantify and explain the relationship between variables of work culture, work stress, job satisfaction and employees performance in the State Treasury Service Office Jakarta. The research method was using quantitative methods. Research locations were located in six State Treasury Service Offices in Jakarta with samples of 152 employees. Data analysis technique was using Partial Least Square (PLS) with the help of Smart program. The results showed that the work culture has no effect on job satisfaction. Work stress has no effect on job satisfaction. Work culture affected to the employee performance. Work stress had no effect on employee performance. Job satisfaction had no effect on performance. The implication of this research was to establish a strong working culture to decrease work stress and increase job satisfaction which ultimately improved employee performance.
Work-Life of Indian Railway's Drivers (Loco-Pilots)IOSRJBM
Railways’ Drivers / Loco-Pilots are the most important person in executing the huge task of transporting nearly 25 Million passengers and more than 2.8 Million Tons of freight daily with the help of 2,29,381 wagons, 59,713 coaches and more than 9,213 locomotive engines of various kinds(www.Indian railways, Wikipedia).To transport 25 million passengers and millions of tons of freight and that too with taking care of both the traveler’s convenience and safety is not a mean task, the driver on whose sincerity the journey of a train depends. If he is not capable of carrying his responsibilities then the efforts of the other employees go waste, in this sense we can say that he is the most important person of the railways. The job of a Railway Driver demands hard work and great presence of mind along with courage to handle diverse conditions. For this one should have discipline, patience, responsibility, punctuality, commitment, courage and above all self-confidence. The job requires lots of hard work, stamina, alertness of mind, adaptability to follow difficult time schedules too. But the main and remarkable, highly appreciable role of Railway drivers is the only who works with full honesty, in day & night, in heavy cold, hot & Rainy weather. For Railways’ drivers operating on long distance routes, overnight stays in various locations will be necessary. Furthermore, it can be stressful, as delays and hazards on the track are not uncommon. His cab of the train should be relatively comfortable but it may be quite cold, hot and noisy.
Liquidity Determinants of Sharia and non Sharia StocksIOSRJBM
This study was conducted to analyze and testing stock liquidity differences of sharia and non sharia stock and determinants of sharia and non sharia stock of manufacturing industry at Indonesia Stock Exchange in 2009-2010. Dependent variable of this study is stock liquidity, measured by relative spread and depth. The Independent variable are insider ownership, institutional ownership, blockholder ownership, and foreign institutional ownership, trading volume, stock price, return volatility, Market to book value, dividend policy and size. In addition, this research is also supported by qualitative data obtained from in-depth discussions with key informants, including investment managers, stock exchanges institution and stock brokers. The results showed there is no liquidity difference, both for relative spread and depth of sharia a non sharia stocks. In sharia stocks, trading volume and dividend policy has a negative effect on relative spread, whereas in non sharia stock the trading volume, stock prices and company size has a negative effect on relative spread. Institutional ownership has negative effect, while foreign institutional ownership, trading volume, dividend policy, and size has positive effect on sharia stock liquidity. For non sharia stock, the trading volume, stock prices and company size has a positive effect on depth.
Overview of the fundamental roles in Hydropower generation and the components involved in wider Electrical Engineering.
This paper presents the design and construction of hydroelectric dams from the hydrologist’s survey of the valley before construction, all aspects and involved disciplines, fluid dynamics, structural engineering, generation and mains frequency regulation to the very transmission of power through the network in the United Kingdom.
Author: Robbie Edward Sayers
Collaborators and co editors: Charlie Sims and Connor Healey.
(C) 2024 Robbie E. Sayers
Water scarcity is the lack of fresh water resources to meet the standard water demand. There are two type of water scarcity. One is physical. The other is economic water scarcity.
CFD Simulation of By-pass Flow in a HRSG module by R&R Consult.pptxR&R Consult
CFD analysis is incredibly effective at solving mysteries and improving the performance of complex systems!
Here's a great example: At a large natural gas-fired power plant, where they use waste heat to generate steam and energy, they were puzzled that their boiler wasn't producing as much steam as expected.
R&R and Tetra Engineering Group Inc. were asked to solve the issue with reduced steam production.
An inspection had shown that a significant amount of hot flue gas was bypassing the boiler tubes, where the heat was supposed to be transferred.
R&R Consult conducted a CFD analysis, which revealed that 6.3% of the flue gas was bypassing the boiler tubes without transferring heat. The analysis also showed that the flue gas was instead being directed along the sides of the boiler and between the modules that were supposed to capture the heat. This was the cause of the reduced performance.
Based on our results, Tetra Engineering installed covering plates to reduce the bypass flow. This improved the boiler's performance and increased electricity production.
It is always satisfying when we can help solve complex challenges like this. Do your systems also need a check-up or optimization? Give us a call!
Work done in cooperation with James Malloy and David Moelling from Tetra Engineering.
More examples of our work https://www.r-r-consult.dk/en/cases-en/
Explore the innovative world of trenchless pipe repair with our comprehensive guide, "The Benefits and Techniques of Trenchless Pipe Repair." This document delves into the modern methods of repairing underground pipes without the need for extensive excavation, highlighting the numerous advantages and the latest techniques used in the industry.
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Governing Equations for Fundamental Aerodynamics_Anderson2010.pdf
Ethics in Corporate Social Responsibility
1. IOSR Journal of Business and Management (IOSR-JBM)
e-ISSN: 2278-487X, p-ISSN: 2319-7668, Volume 9, Issue 2 (Mar. - Apr. 2013), PP 16-21
www.iosrjournals.org
www.iosrjournals.org 16 | Page
Ethics in Corporate Social Responsibility
Kh. Tomba Singh1
, M.Sanjoy Singh2
1
Department of Commerce,Manipur University (A Central University), Canchipur-795003(INDIA),
2
Research Scholar Department of Commerce Manipur University, Canchipur, Imphal
Abstract: Ethics and Corporate Social Responsibility are recognized as important concerns in making decision
in all aspects of our life. And it’s contributing to accelerate the process of overall development of a nation. India
being the second most populous country in the world, and have the largest number of people in need of basic
amenities call for more intensive efforts as part of such initiatives in the health care space of the nation. We all
know that people engage in business to earn profit. However, making profit is not the sole function of the
business. It performs number of social function as it is a part of society. It takes care of those who are
instrumental in securing its existence and survival. Business ethics are nothing but the application of ethics in
business. It proves that business can be and have been ethical and still make profits. Today more and more
interest is being given to the application of ethical practices in business dealings and the ethical implications of
business. The paper delves into a comprehensive understanding of how Business Ethics and Corporate Social
Responsibility involves as concept and the reason that encourage company in India to be socially responsible.
Keywords - Corporate Social Responsibility, Economic growth, GDP, Amenity, health.
I. Introduction
In any organization, from the top management to employees at all levels, ethics is considered as
everybody‘s business. It is not just only achieving high levels of economic performance, but also to conduct one
of business‘s most important social challenges, ethically. Ethics in business is nothing but the do‘s and don‘ts by
the business users in business. It is based on a set of moral and ethical values. These values must be absolute -
that is, you must take them seriously enough to have priority over any human rationalization, weakness, ego, or
personal faults. When all else fails, you will always look back to these core values to guide you or take you
through. Unfortunately, life is not that easy and there's always disagreement about what values should reign
supreme. A moral or ethical statement may assert that some particular action of certain kind is right or wrong,
which may offer a distinction between good and bad characters or dispositions; thereof, may propound some
principle from which more detailed judgments of these sorts might be inferred – instance one ought to always
aim at the general happiness or try to minimize the total suffering of all sentient beings, or ... That it is right and
proper for everyone to look after himself. All such statements express first order ethical judgments of different
degrees of generality (Mackie, 1977). If we examine the current literature on ethics, the focus is on lines given
by philosophers, academics and social critics. However, leaders, managers and engineers require more practical
information about managing ethics. Ethical management in the workplace holds tremendous benefit to all
including engineers, managers, organizations and society. This is particularly true today when it is critical to
understand and manage highly diverse groups, with different values at the workplace and operating in globalize
economic conditions of Socrates and Plato guidelines for ethical behavior (Moore, 2004). Ethics involves
learning what is right or wrong, and then doing the right thing -- but "the right thing" is not nearly as
straightforward as conveyed. Most ethical dilemmas in the workplace are not simply a matter of yes or no, on
situation? Business Ethics denotes not only how the business interacts with the world at large, but also their one-
on-one dealings with a single customer, resulting in the business justification in terms of economic, ecological
and social spheres. Today, we live in an age where businesses and society are more connected and interactive
than ever before. The triple bottom line approach has been, and remains, a useful tool for integrating
sustainability into the business agenda. It has now become imperative that sustainability forms an integral part
of strategic planning of contemporary business organization. To be precise, ethics is considered to be the
"Science of Conduct.‖ Ethics includes the fundamental ground rules by which we live our lives. Philosophers
such as Socrates and Plato have given guidelines for ethical behavior. Many ethicists consider emerging ethical
beliefs to be legal principles, i.e., what becomes an ethical guideline today is made into to a law, regulation or
rule. Therefore following law of the land is one of the basic virtues of ethics.Infact, Values, which guide us how
to behave, are moral values, values such as respect, honesty, fairness, responsibility (Spence, 2003). Many of
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these values are self-evident to the intuition of our higher nature. It is widely acknowledged today that Gandhian
philosophy, particularly Ganghi‘s Doctrine of Trusteeship played a pivotal role in the shaping of the contours of
modern corporate ethics.
The liberalization and globalization being sweep changes in the concept of doing business, but the
major by-product like corruption, favoritism and nepotism, deterioration of human values, series of scam in
business, government policies and society are also produced in the 21st
century. There is a loss of faith in
instruments of society. Business houses are becoming big with control of large resources, human, financial and
technical but their surviving purposes to society are always having the doubtful values. Day by day innocent
Indians are losing their faith in laws, courts and govt. At one side business enterprise are coping up with intense
emerged competition and on the other side they are violating the principles of proper public conduct. In the
wake of mounting scandals corporations, all around the world are adopting ethical conduct, code of ethics. They
are excellent organizations, which have shown a spurt of activity towards evaluation of goals, concepts, values
management and conduct. There is at present a growing recognition among corporate leaders that corporate
social responsibility has to be based on an enduring ethical foundation. Ethics today is very wide segment. It is
simple and ‗counterintuitive‘ leading to truth, of course, not everything that is true, is obvious or simple.
However, after this, brief, on ethical management and ethics in general, the paper delves to its main objectives
of ethics in CSR.The study and examination of CSR is generally referred to the corporate world specially in
taking decisions in the field of business. Thus, the purport of this paper explores the different objectives,
method, ways and means which the Business organization must discharge their social responsibilities. To exist
and operate within the social structure they must fulfill their social obligation along with economic obligations.
II. Literature review
Davis and Blomstrom(1975) in their paper examined the corporate social responsibility as social responsibility
is the obligation of decision makers to take actions which protect and improve the welfare of society as a whole
along with their own interests. Its suggests two active aspects of social responsibility—protecting and
improving. To protect the welfare of society implies the avoidance of negative impacts on society. To improve
the welfare of society implies the creation of positive benefits for society. In the modern systematic study,
Davis (1975) anticipated the following five propositions regarding social responsibility of business houses: The
first proposition states that social responsibility of business arises from business social power. He emphasizes
the concern about the consequence of business actions that affects interests of others. Because of these
consequences, the businesses responsibility towards the community arises. The second proposition states that
business has to operate as a two-way open system with the open receipt of inputs from the society and open
disclosure of its operations to the public. The third proposition says that the social cost as well as benefits of an
activity, product or service after thoroughly consideration and calculation should decide whether to continue a
product or stop its production. The fourth proposition states that the social costs of each activity, product or
service should be priced into it so that the user has to pay for the effects of his consumption on society. The fifth
and final proposition is that beyond social costs international business institutions as citizens have
responsibilities for social involvement in areas of their competence where major social needs exist. Hereby
Davis outlines the basic principles for developing socially responsible policies. Robin and Reidenbach (1987)
have shown stakeholders policies can be integrated into the making of organizational strategy. The authors have
applied the social responsibility perspective in the planning process by using the image of an average family for
developing values within an organization. Based on this logical background the authors have shown the
imbibing of values like empathy, care and concern in functioning of the organization. McGuire (1963).explained
the social responsibilities in context vis-à-vis economic and legal objectives. He asserts that the idea of social
responsibility supposes that the corporation has not only economic and legal obligations, but also certain
responsibilities to society which extend beyond these obligations. Although this statement is not fully
operational either, its attractiveness is that it acknowledges the primacy of economic objectives side by side with
legal obligations while also encompassing a broader conception of the firm‘s responsibilities. Chakraborty
(1991) highlighted the beautiful and deep roots of Indian ethos from which the managers and business leaders
can develop a system of values. From this systematic knowledge of values and ethos, the responsible
stakeholders‘ policies can be developed. Garret (1989) has used the due care theory‘ for increasing the
responsibilities of business towards the stakeholders. The theory is based on classical factionalism of Plato and
Aristotle according to which it is the responsibility of the management to lake care of others‘ needs and serves
them. Thus the author has shown through ‗due care‘ theory that corporation can be socially responsible. Sharpin
(1989) has used the concept of public firm in which the management is an agent to all factor suppliers and not
the shareholders alone. As each stakeholder group has interest in a public firm and can monitor the agent, the
public firm tries to carefully administer its contracts with all stakeholders. Here author‘s states that this can be
achieved through the development of socially responsible stakeholder policies. Wokutch (1990) presented the
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Japanese style of corporate social responsibility especially in terms of occupational safety and health practices
of the Japanese firms. Because of the personnel philosophy, Japanese corporations, which give importance to
the human resource, the occupational health and safety procedures are integrated to the core of the production
system. This integration includes high meetings, emphasis on training activities, pursuits of zero accident
standards and effective dual emphasis on behavioral and engineering orientations to promote safety and health
among workers and managers.Anand (2002) studied social responsibility initiatives as building block of
corporate reputation in the Indian contact. He analyzed the reputation from a stakeholder perspective.
Reputation of a firm contributes in positioning a firm‘s identity in a proper and more attractive way. This has
been proved in the case of socially responsible Indian firms are also considered to have good reputation. Biggs
and Ward (2004) tried to link Corporate Social Responsibility, good governance and corporate accountability
through an institutional framework. They found that it is necessary to integrate public governance and CSR
activities for better results. Further they left that corporate must create a more inclusive agenda through a value
framework and showing and caring. Ultimately, firms must have a multi-stakeholder outlook to frame their CSR
policies. Lockwood (2004) explained the critical role of the HR function in organizations playing the leading
part and educating these firms regarding the importance of CSR, while at the same time strategically
implementing sound HR management practices that support the company‘s business and CSR goals. According
to him, firms must shift from first and second generation social responsibility practices of out risking a firm‘s
business success in the name of CSR and move over to third generation CSR practices where a firm addresses
significant societal issues, such as poverty and cleansing the environment and the HR function must lead this
shift.
III. Corporate Social Responsibility
Explicitly, the CSR Voluntary Guidelines (2009) have very rightly provided that, ―government systems
of a company should be underpinned by Ethics, Transparency and Accountability. They should not engage in
business practices that are abusive, unfair, corrupt or anti-competitive‖. Corporate Social Responsibility (CSR)
is also known by a number of other names. These include corporate responsibility, corporate accountability,
corporate ethics, corporate citizenship or stewardship, responsible entrepreneurship, and ―triple bottom line,‖ to
name just a few.CSR is a concept, whereby, companies integrate social and environmental concerns into their
business operations and in their interaction with their stakeholders (employees, customers, shareholders,
investors, local communities, government), on a voluntary basis. CSR is closely linked with the principles of
‗Sustainability‘ which argues that enterprises should make decisions based not only on financial factors such as
profits or dividends, but also based on the immediate and long-term social and environmental consequences of
their activities. CSR has become prominent in the language and strategy of business and by the growth of
dedicated CSR organisations globally. Governments and international governmental organizations are
increasingly encouraging CSR, and, forming CSR partnerships. CSR is rapidly becoming a major part of all
business management courses as it is an important global issue to-day .As CSR issues become increasingly
integrated into modern business practices, there is a trend towards referring to it as ―responsible
competitiveness‖ or ―corporate sustainability.‖ Generally, CSR is understood to be the way firms integrate
social, environmental and economic concerns into their values, culture, decision making, strategy and operations
in a transparent and accountable manner and thereby establish better practices within the firm, create wealth and
improve society. As issues of sustainable development become more important, the question of how the
business sector addresses them is also becoming an element of CSR. The World Business Council for
Sustainable Development has described CSR as the business contribution to sustainable economic development.
Fortuitously, business all by itself cannot stand without society and its responsibility-Social Responsibility,
which are interwoven. They must understand their responsiveness towards society. In fact, CSR is an
evolving concept which does not have a universally accepted definition.
Building on a base of compliance with legislation and regulations, CSR typically includes ―beyond
law‖ commitments and activities pertaining to:- corporate governance and ethics; health and safety;
environmental stewardship; human rights (including core labour rights); sustainable development; conditions of
work including safety and health, hours of work, industrial relations; community involvement, development and
investment; involvement of and respect for diverse cultures and disadvantaged peoples; customer satisfaction
and adherence to principles of fair competition; anti-bribery and anti-corruption measures; accountability,
transparency and performance reporting; and supplier relations, for both domestic and international supply
chains corporate philanthropy and employee volunteering. Corporate Social Responsibility is thus only about
two aspects- a) Reducing the negative effects-; step taken by a company to neutralize, minimize or offset the
harmful effects caused by its processes and products- usage. b) Increasing the positive contributions; further
steps taken using its resources, core competence, skills, location and fund for the benefit of people and
environment.
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3.1 Origins of the corporate Social Responsibility:
There are varied the concepts of CSR. It originated in the 1950s when American corporations rapidly
increase in size and power, and continued during 1960s and 1970s when the nation was confronted with social
problems of poverty, unemployment, race, relations, urban blight and pollution. And in 1980, Corporate Social
Responsibility involved the beyond code of conduct reporting and started taking initiative in NGO‘s multi
stakeholders ethical trading. To be clear, Archie Carroll‘s four part analysis will focuses on the types of social
responsibilities to specify argued what business has. Business depends upon society for the inputs like
manpower; resources, money etc. The very existence, survival and growth of any firm depend upon its
acceptance by society and its environment. Apart from the four-part definition attempts to place economic and
legal expectations of business in perspective by relating them to more socially oriented concerns. These social
concerns include ethical responsibilities and voluntary/discretionary (philanthropic) responsibilities.
He analyses, to begin with is Economic Responsibilities. It may seem odd to call it an economic
responsibility a social responsibility, but, in effect, that is what it is. First and foremost, the American social
system calls for business to be an economic institution. That is, it should be an institution whose orientation is to
produce goods and services that society wants and to sell them at fair prices—prices which society thinks that,
the true values of goods and the services delivered must provide business with profits adequate to ensure its
perpetuation and growth, of course, with a reward to its investors.
This is followed by Legal Responsibilities. Just as society has sanctioned our economic system by
permitting business to assume the productive role mentioned above, as a partial fulfillment of the social
contract, it has also laid down the ground rules—the laws—under which business is expected to operate. Legal
responsibilities reflect a view of ―codified ethics‖ in the sense which embody basic notions of fairness as
established by our lawmakers. Business is bound by Law for the benefit of society. If business does not agree
with laws that have been passed or are about to be passed, our society which has been provided with a
mechanism, by which dissenters can be heard through Court of Laws, specifically Consumer Act, 1985 and
many other such laws.
With this, comes Ethical Responsibilities. This embraces those activities and practices that are
expected or prohibited by societal members even though they are not codified into law. Ethical responsibilities
embody the range of norms, standards, and expectations that reflect a concern for what consumers, employees,
shareholders, and the community regard as fair, to protection moral rights. In one sense, changes in ethics or
values precede the establishment of laws because they become the driving forces behind the very creation of
laws and regulations. For example, the civil rights, environmental, and consumer movements reflect basic
alterations in societal values and thus may be seen as ethical bellwethers foreshadowing and leading to later
legislation. In another sense, ethical responsibilities reflect newly emerging values and norms that society
expects business to meet, even though they may exhibit a higher standard of performance than that currently
required by law.
Finally the four-part analysis is the Discretionary Responsibility. Discretionary responsibility is those
that impose expectations for responses that exceed ethical responsibilities and are truly proactive kinds of
actions on the part of an enterprise. The best example of this is Ronald McDonald House –these houses are
located near hospitals and permit the families of ill children to stay near them without paying the prohibitive
costs of long stays in a hostel. This program is a discretionary and proactive responsibility that benefits society
at large.Thus, the analysis of Archie Carroll, elaborates four kinds of responsibities, where in the concept of
CSR is construed.
The evolution of CSR in India has followed a chronological evolution of 4 thinking approaches given in the
table 1:
TABLE- 1: CSR MODELS
Sl.No Model Time
period
Area of Focus Pioneer
2 Ethical 1930s-1950 Businesses to volunteer to manage their
business entity as a trust held in the interest of
the community i.e. the promotion of ―trusteeship
Gandhiji
3 Statist 1950s-1970 State ownership and legal requirements to
decide the corporate responsibilities
Jawahar Lal
Nehru
4 liberal 1970s-1990 Corporate responsibility is confined to its
economic bottom line i.e. limited to private
owners. This implies that it is sufficient for
business to obey the law and generate wealth,
Milton
Friedman
and
Theodore
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which through taxation and private charitable
choices can be directed to social ends.
Levitt
5 Stakeholder 1990s
present
Expects companies to perform according to
―triple bottom line‖ approach which essentially
measures an enterprise‘s performance against
economic, social and environmental indicators
Edward
Freeman,
Robert
Ackerman
and Archie
B Carroll
Source: Altered Images: The 2001 State of Corporate Social Responsibility in India Poll, a survey conducted by
Tata Energy Research Institute.
On this basics, Corporate Social Responsibility Benefits society and business. A corporation that work
along with the non government organisations or government organisations to solve societal problems such as
substance abuse, education of economically backward sections, human right issues, unemployment, child labour
and Environmental concerns, such as recycling of materials, proper handling of industrial waste, effective
pollution, abatement, effective addressing health hazards and, would not only help society at large but also it
help to build its reputations and long brand equity. It develops confidence and trust in the market place. It
increases the visibility of the organisation. Corporate social responsibility performances, creates benefits for a
corporation in the areas of marketing, share holder value, human resources, innovation and many more. In the
context of Indian, it is essential that the Indian corporations be seen as more responsible by integrating social
issues with business practices. Global customers are demanding increasing social responsibility and community
involvement from corporations they deal with. They prefer to grow a relationship with corporations that are
committed to important societal and environmental causes. Indian corporations deal with not only conduct tier
business ethically, but, also ensure that the business effectively with environmental concerns and social
responsibility issues. Ignoring Corporate Social Responsibility would mean endangering business success in the
global world and its market. Corporate Social Responsibility and responsibility to environment are themselves
large and important matters for any company today.
For this purpose, the sum up of argument for social involvement related to the potential benefits for society
and for business. They is —
a) Changing Public needs and expectations;
b) Moral obligation;
c) Limited resources;
d) Better social environment;
e) long-run profit;
f) Discouragement of further government regulation;
g) Balance of responsibility with power;
h) System interdependence requires social involvement;
i) Business contributed to social problems;
j) Public image;
k) Business has useful resources;
l) Prevention is better than wring;
The paper would be incomplete if the other side of the coin- the arguments against social involvement for
business to point out are:
a) Need for profit maximization;
b) Divided purposes and contused expectations;
c) Cost of social involvement;
d) Weakened international balance of payments;
e) Business has enough power;
f) Lack of social skills;
g) Lack of accountability;
h) Corporate inability to make moral choices;
3.2 How to make CSR work (By institutionalization of ethics)
A company should have a sound ethics policy which requires to be implemented successfully. To do
this, it is essential. They are:
a) The code of ethics is clearly communicated to employees.
b) Employees are formally trained in it.
c) That they are told how to deal with ethical challenges.
d) The code is implemented strongly.
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e) The code is contemporary, and
f) The company leadership adheres to the highest ethical standards.
IV. Conclusion
To conclude, the purport, explores the exact ends. In this world, the economic, social and
environmental depression is seen today in different segments in the global world. One of the main causes is the
impairment of ethical values both morally and socially, which basically the paper shows that ethics cannot be a
matter of choice to be exercised by a company as per its convenience, nor can ethics be something that has to be
preached by to top management and to be followed by the officers and staff of the company .So also, ethical
conduct cannot be an object of display to be shown to the world at large that the company is meeting its social
obligation.
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