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Business Ethics

&

Corporate Governance

Prof Bharat Nadkarni

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Stakeholder Concept

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Business Ethics : Prof Bharat Nadkarni

Who are the Stakeholders of Business ?

Shareholders and Promoters

Customers

Employees

Suppliers and Partners (incl Contractors, Agents etc)

Government

Society

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Business Ethics : Prof Bharat Nadkarni

Most Admired Business

Balancing and Exceeding

the Expectations ofall its

Stakeholders.

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Business Ethics : Prof Bharat Nadkarni

Ethics at Stakeholders level

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Business Ethics : Prof Bharat Nadkarni

Shareholders

Ensure capital appreciation

Ensure steady and regular dividends

Disclose all relevant information

Protect minority shareholders interests

Not to window dress balance sheets

Protect interest in times of mergers, amalgamations and

takeovers

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Business Ethics : Prof Bharat Nadkarni

Customers

Better quality of goods

Goods and services at reasonable price

Not to corner stocks and create temporary shortage

Not to practice discriminatory pricing

No carteling

Not to make false claims about products in advertisements

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Business Ethics : Prof Bharat Nadkarni

Employees

Payments as per skill sets and organisational worth.

Security of job

Better and safe working conditions

Better recommendation

Participative management

Welfare facilities

Equal opportunity employer

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Business Ethics : Prof Bharat Nadkarni

Government

Complying with rules and regulations

Honesty in paying taxes and other dues

Acting as partner in progress of the country

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Business Ethics : Prof Bharat Nadkarni

Society / Community

Concern for poor and down trodden

No discrimination against any particular section or

group

Concern for clean environment

Preservation of scarce resources for posterity

Contributing to better quality of life

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Business Ethics : Prof Bharat Nadkarni

Internal Policy Level

Fair practices relating to recruitment, compensation,

lay-offs, perks, promotion, etc.

Transformational leadership to motivate employees to

aim at better and higher things in life

Better communication at all levels

Respecting principle of collective bargaining

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Business Ethics : Prof Bharat Nadkarni

Personal Policy Level

Not to misuse others for personal ends

Not to indulge in politics to gain power

Not to spoil promotional chances of others

Not to use office car, stationary and other property for

personal use

Not to fall prey to shortcuts and easy money

Promise keeping

No violence, i.e. preventing or not causing physicalharm to others

Mutual help

Respect for persons and property

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Excellence

Habits

Thoughts

Attitude

Values

Behaviour

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Core Values & Concepts of World Class Organizations

Visionary Leadership

Organizational &

Personal Learning

Agility

Valuing Employees &

Partners

Managing for Innovation

Customer- DrivenExcellence

Focus on the Future

Management By Fact

Focus on Results &

Creating Value

Social Responsibility

Systems Perspective