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Values & Ethics

Values( set of preferences) are said to be the cause and Ethics effect.If one operates in a given instance from a Value emotion within the outward action will tend to be Ethical.


Oxford Advanced Learners Dictionary defines the word ethics as moral principle that govern or influence a persons behavior. Ethics is thus a benchmark of human behavior. The conduct of human beings is influenced either by the emotions of life or the actions people perform in different situations. The coordination of action and emotions generates ethics.


Ethical behaviour is characterized by honesty, fairness and equity in interpersonal,professional and academic relationships and in research and scholarly activities. Ethicalbehaviour respects the dignity, diversity and rights of individuals and groups of people.This definition is not a denial of the existence of other ethical duties with respect topractice, professional service delivery, and research.

Nature of Ethics
Ethics refers to two things 1. Ethics relates to a set of well- based standards of right and wrong that provide a framework of human behavior

Supports the pursuit of moral values and standards for the individual, his/her relationship with others and society and for particular segments of society such as professional organisations Expressed as rights, obligations, responsibility, fairness and justice Codes of Professional conducts for professional organisations also prescribe additional standards of behavior such a objectivity, independence and due care


Ethics relates to the study and development of ones ethical standards, leading to the choice of actions or decisions
Our ethical standards are continuously evolving and we are required to: Continuously study our moral beliefs Be aware of changes in our surroundings Have the capacity to identify the right choice of actions and

Indian ethos is drawn from the Vedas, the Ramayana,Mahabharat, the Bhagwadgita, and Upnishads. Right from the Vedic age it has been discovered twobasic universal truths of life. 1. The essential infinitude and divinity of all souls. 2. The essential oneness and solidarity of universeand all life.


Business need not be regarded evil, trained andunethical. Business is scared. It is a matter of attitude,approach and level of management consciousness.

Indian ethos demands subjective management system. 1. Management attitude. 2. Humanizing the organization. 3. Interior sing management 4. Self introspection 5. Brain stilling (decision making in silence) 6. Self dynamising meditation.

Indian Value System

Ancient Indian philosophers did not neglect the social, the economic, and the emotional aspects of life. A careful study of ancient Indian history would reveal that this country was materially progressive and economically sound. Speaking of prosperity of India in ancient times, Radhakrishnan says, She knew how to chisel stone, draw pictures, burnish gold and weave rich fabrics.

Teaching from scriptures and tradition

The Bhagavadgita follows the philosophy of Samadarsana (the unitive view of the Ultimate Reality) and Visamavarttana (differentiated behaviour in the empirical world) to the core. Referring to this devotion to duty, it has been remarked in the Bhagavad-Gita that one should prefer death, while performing ones own Dharma to a change of professional duty.

Ethics in Organizations
Key Terms Used

Ethics,Ethical,Unethical,Corporate Values',' Personal values', Value statement', 'Ethical Framework of a company etc.

Value Statement of ITC

ITC's Core Values are aimed at developing a customer-focused, high-performance organization which creates value for all its stakeholders:

As professional managers, we are conscious that ITC has been given to us in "trust" by all our stakeholders. We will actualize stakeholder value and interest on a long term sustainable basis.

Customer Focus
We are always customer focused and will deliver what the customer needs in terms of value, quality and satisfaction.

Respect For People We are result oriented, setting high performance standards for ourselves as individuals and teams. We will simultaneously respect and value people and uphold humanness and human dignity. We acknowledge that every individual brings different perspectives and capabilities to the team and that a strong team is founded on a variety of perspectives. We want individuals to dream, value differences, create and experiment in pursuit of opportunities and achieve leadership through teamwork. Excellence We do what is right, do it well and win. We will strive for excellence in whatever we do. Innovation We will constantly pursue newer and better processes, products, services and management practices. Nation Orientation We are aware of our responsibility to generate economic value for the Nation. In pursuit of our goals, we will make no compromise in complying with applicable laws and regulations at all levels


TATA Steel:
The Tata Group has always sought to be a value-driven organisation. These values continue to direct the Group's growth and businesses. The five core Tata values underpinning the way we do business are: Integrity Understanding Excellence Unity Responsibility

SAIL (Steel Authority of India):


be a respected world Class Corporation and the leader in Indian steel business in quality, productivity, profitability and customer satisfaction

Maruti Udyog:
We believe our core values drive us in every endeavor: Customer obsession; fast, flexible and first mover; innovation & creativity; networking & partnership; openness & learning.


Respect for individual IBM anthem Devotion to customers Lifetime employment Open door program.