Williams had joined Star Corporation, one of the leading consumer electronics company, only a few days back as the Purchase Manager and he was going through the employees conduct manual. He was attracted by the clause, prohibiting acceptance of gifts by the employees of the purchase department. It read as follows: “Purchase department employees shall not accept gifts from vendors. This is to ensure that no vendor is given any special treatment and the employees work only in the best interest of the firm at all times. Any deviation from the above would be dealt with severely and could mean dismissal from the firm.” Williams remembered his experience with his previous firm, Maple Corporation, where he had worked from 2000 for six years as purchase head prior to joining the Star Corporation. It was only six months since he was with the Maples when it was New Year. With the Continue reading
Business Ethics
Case Study on Corporate Governance: Satyam Scam
Satyam Computers services limited was a consulting and an Information Technology (IT) services company founded by Mr. Ramalingam Raju in 1988. It was India’s fourth largest company in India’s IT industry, offering a variety of IT services to many types of businesses. Its’ networks spanned from 46 countries, across 6 continents and employing over 20,000 IT professionals. On 7th January 2009, Satyam scandal was publicly announced & Mr. Ramalingam confessed and notified SEBI of having falsified the account. The essential facts associated with the case are as follows: On 27 June 1987, Ramalinga Raju founded Satyam Computer Services along with his brother-in-law. At first, there were as little as twenty employees, but the organization determined itself as a large-scale player in the country’s IT sector, concentrating on the services concerned with software outsourcing. In 1991, the company made a successful first public appearance on the Bombay Stock Exchange. In four Continue reading
Business Ethics and Social Responsibility
Ethics also known as moral is determined by the class of philosophy to addresses about morality i.e. concepts such as good vs. bad, right vs. wrong and matters of justice, love, peace and virtue. The term is used to indicate how individuals or organization choose to conduct themselves in relation to universal moral behavior and actions. Ethics involve choosing actions that are right and proper and just. The individual behavior can be right or wrong, proper or improper and the managerial or individual decisions can be fair or unfair. Ethics are vital in businesses and all aspects of living. The foundation of society is built on Ethics. Without ethical principles a business/society is bound to be unsuccessful sooner or later. Business Ethics look at ethical philosophy, moral or ethical problems and deal with issues concerning the moral and ethical rights, duties and corporate authority between a corporation and its shareholders, Continue reading
What is Servant Leadership?
In many situations we are able to draw associations or determine one situation resembles another. When individuals in leadership roles give of themselves so that others may have it is often associated with a negative connotation. Although giving and serving is not viewed in the political or religious aspect, leaders tend to develop their own views and formulate ideas that have been tampered with by politician or religious leaders. Many of the political and religious leaders have a major influence of the day-to-day operation and views of society. We first have to know what leadership is. Leadership is the ability to get other to follow you willingly. A leader must have a vision and know exactly where to go. They also have to take the vision and act upon it and not sit back and let the followers do all the work. Within the vision, they have to communicate with Continue reading
Case Study on Corporate Governance: Enron Scam
Enron is an energy-based company in Houston, Texas that deals with the energy trade on international and domestic based. Enron Corp. Is one of the world’s largest energy, commodities and Services Company was created out of merger of two major gas pipe line in 1985. Enron was created by merge between Houston Natural Gas and Internorth. Houston’s gas’s CEO Kenneth lay headed the merger of the two companies. After that Kenneth lay become the CEO of Enron. Earlier Enron was Enron was solely involved with the distribution and transmission of electricity and gas of United States. In merger, Enron incurred a large amount of debt, and which resulted deregulation, after this Enron was no longer had the rights of its pipelines. The company had to find a way to generate profits and cash flow. Kenneth lay hired Jeffrey Skilling to work for Enron as an accountant. Skilling suggested the practice Continue reading
Concept of Workplace Spirituality
Workplace spirituality has recently emerged as a significant aspect of organizations and hence, a significant topic of inquiry in the organizational science. Since the late 1990s, publications such as Wall Street Journal, Business Week, Fortune and others have reported a growing desire among employees for meaning and purpose at work, for a spiritual dimension to organizational life. Spirituality is the state of intimate relationship with the inner self of higher values and morality as well as recognizing the truth of inner nature of people. The concept of spirituality at workplace can be explained as an experience of interconnectedness, shared by all those involved in the work process, initially triggered by the awareness that each is individually driven by an inner power, which raises and maintains his/her sense of honesty, kindness, and courage, consequently leading to the collective creation of an aesthetically motivational environment characterized by a sense of purpose, high Continue reading