Tag: Transparency

Management Notes

Gandhian Philosophy of Wealth Management

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Mahatma Gandhi, the Father of the Nation in India, offered profound insights into economics and wealth that continue to be relevant in the modern world. While he was not an economist in the conventional sense, his views on wealth management reflect deep ethical, spiritual, and practical wisdom. Gandhi believed that wealth must serve the needs of society and should be earned and used with morality, responsibility, and compassion.

His philosophy centers around simplicity, trusteeship, non-possession, and social justice, emphasizing that wealth must be managed not just for personal gain but for the welfare of all.

Wealth as a Means, Not an End:

Gandhi viewed wealth not as an end goal but as a means to achieve human well-being. He believed that excessive desire for accumulation led to inequality, greed, and social disharmony. According to him, the purpose of wealth should not be to indulge in luxury, but to fulfill basic needs and support others.

He promoted the idea that true happiness comes not from the possession of wealth, but from inner peace, contentment, and service. In Gandhi’s vision, economic activity must be guided by ethical and spiritual principles to ensure that wealth benefits the individual and society alike.

Concept of Trusteeship:

One of the most important contributions of Gandhian philosophy to wealth management is the idea of Trusteeship. Gandhi proposed that wealthy individuals should act as trustees or caretakers of their wealth, managing it not solely for their own benefit but for the upliftment of the less privileged.

In this model, the rich do not have to give up ownership entirely, but they should use their wealth responsibly, ethically, and for the greater good. Gandhi believed that this voluntary sharing would reduce the gap between rich and poor, prevent class conflict, and promote economic justice in society.

Trusteeship encourages corporate social responsibility, philanthropy, fair wages, and ethical business practices. It promotes the idea that economic power should be exercised with moral authority and human compassion.

Principle of Non-Possession (Aparigraha):

Gandhi was deeply influenced by the Indian spiritual concept of Aparigraha, or non-possession. He believed that people should not hoard wealth or material possessions beyond their actual needs. This principle encourages individuals to live simple, purposeful, and need-based lives, rejecting extravagance and consumerism.

According to Gandhi, possession beyond need leads to greed, exploitation, and social injustice. He said, “There is enough for everyone’s need, but not for everyone’s greed.” Wealth management, therefore, should be aligned with limiting desires and ensuring equitable access to resources for all.

Simplicity and Ethical Living:

Gandhi led a life of extreme simplicity, and he expected the same values to reflect in economic behavior. He believed that ethical wealth management required transparency, fairness, and honesty. Business and trade must be based on trust, truthfulness, and the welfare of all stakeholders—not just profit maximization.

He also rejected exploitation in any form, including unethical labor practices and monopolies. Gandhi advocated for self-reliance, local production (Swadeshi), and small-scale industries as a way to democratize wealth and empower rural communities. In this context, wealth must circulate among people, not be concentrated in a few hands.

Wealth and Social Responsibility:

Gandhi firmly believed that the wealthy had a moral and social obligation to give back to society. This does not mean merely charity or donations but includes efforts to uplift the poor, provide employment, support education, and ensure environmental sustainability. He encouraged the wealthy to create systems and structures that promote equal opportunity and economic freedom.

Gandhi’s idea was not to abolish wealth but to humanize its use. He encouraged constructive work that creates shared value rather than selfish accumulation. In today’s terms, this aligns with impact investing, social entrepreneurship, and inclusive capitalism.

Relevance in the Modern World:

In an era of rising inequality, materialism, and environmental degradation, Gandhi’s ideas on wealth management are more relevant than ever. The global economy faces issues of overconsumption, corporate greed, and uneven distribution of resources. Gandhi’s philosophy encourages sustainable and ethical wealth practices that promote human dignity and social harmony.

Modern business leaders and policymakers can draw inspiration from Gandhian thought to develop policies around fair taxation, ethical investing, social justice, and corporate responsibility. His emphasis on need-based consumption and moral responsibility offers a counterbalance to the profit-driven global economy.

Management Notes

Key differences between Ethics and Morality

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Ethics is the branch of philosophy that deals with moral principles and values guiding human behavior. It helps distinguish between what is right and wrong, good and bad, fair and unfair. Ethics provides a framework for making decisions that respect the rights, dignity, and well-being of others. It applies to personal conduct, professional responsibilities, and social interactions. Ethical behavior promotes honesty, integrity, accountability, and justice. In various fields like medicine, law, and business, ethics ensures that actions are not only legal but also morally acceptable. Ultimately, ethics supports harmony, trust, and responsible living in society.

Characteristics of Ethics:

  • Normative Nature

Ethics is normative in nature, meaning it provides norms and standards that guide human behavior. It sets the framework for what people ought to do rather than describing what they actually do. Ethical principles serve as benchmarks for moral conduct, helping individuals and organizations differentiate between right and wrong. These standards are used in decision-making across various professions like medicine, law, and business. Ethics, as a normative science, doesn’t rely on feelings or customs but on reasoned judgments that help create a morally sound and just society.

  • Concerned with Human Conduct

Ethics is primarily concerned with human conduct—how individuals behave in relation to others and society at large. It examines actions, intentions, and consequences to determine whether behavior aligns with accepted moral principles. Unlike laws, which are externally imposed, ethics relies on internal judgment and self-discipline. It emphasizes voluntary actions carried out with a sense of moral responsibility. Ethics applies to personal life, professional settings, and public interactions, guiding individuals to act in ways that promote honesty, fairness, and respect for others’ rights and dignity.

  • Universal Application

Ethical principles often aim to be universal in their application, transcending cultural, religious, and national boundaries. Values such as honesty, justice, and kindness are generally accepted across societies, even if interpreted differently. This universality allows ethics to be relevant in global issues like human rights, environmental protection, and corporate responsibility. However, ethics also respects diversity and acknowledges that moral practices may vary. The balance between universal values and cultural sensitivity is essential in applying ethics in a fair and inclusive way, especially in international and multicultural contexts.

  • Voluntary and Self-Regulating

Ethics is voluntary and based on individual conscience rather than legal compulsion. People are expected to act ethically not because they are forced to, but because they believe it is the right thing to do. This self-regulatory aspect differentiates ethics from laws and rules. Ethical behavior comes from within, often influenced by upbringing, education, and social environment. In professional settings, codes of ethics encourage employees to maintain standards even in situations where legal enforcement may be absent. Voluntary adherence strengthens personal integrity and trustworthiness.

  • Dynamic and Evolving

Ethics is dynamic, not static—it evolves with time, culture, technology, and societal developments. What was once considered ethical may now be seen as outdated or even immoral, and vice versa. For example, business ethics has evolved to include data privacy, environmental sustainability, and corporate social responsibility, which were not prominent concerns in the past. This adaptability allows ethics to stay relevant in changing circumstances. Ethical theories and values are continuously re-evaluated in light of new knowledge, cultural changes, and global challenges.

  • Influences Decision-Making

Ethics plays a crucial role in decision-making by providing a moral compass for individuals and organizations. Ethical considerations often help resolve dilemmas where the law is silent or where multiple choices seem valid. Whether in personal life or business, ethics guides people to choose actions that promote fairness, responsibility, and long-term good over selfish or short-term gains. Ethical decision-making involves weighing consequences, consulting moral values, and thinking about the impact on all stakeholders. It fosters trust and accountability in leadership, governance, and everyday choices.

Morality

Morality refers to the system of beliefs, values, and principles that guide individuals in determining what is right and wrong, good and bad. It shapes human behavior based on societal norms, cultural practices, religion, and personal conscience. Morality influences how people interact, make decisions, and treat others with respect and fairness. It promotes virtues such as honesty, kindness, responsibility, and compassion. While often aligned with ethics, morality is more personal and emotional in nature. It helps maintain social order and fosters trust, empathy, and cooperation within communities, contributing to the overall well-being and stability of society.

Characteristics of Morality:

  • Normative and Prescriptive

Morality is normative in nature, meaning it sets standards for how individuals ought to behave. It prescribes what is considered right or wrong, good or bad, based on ethical principles, societal norms, or religious teachings. Unlike descriptive statements that explain behavior, moral statements guide and influence it. Morality serves as a benchmark for conduct and decision-making in both personal and social life. These norms are not just suggestions; they are often viewed as obligations that people are expected to follow to maintain moral order and social harmony.

  • Concerned with Human Behavior

Morality is deeply concerned with human behavior, especially actions that affect others. It evaluates whether a person’s actions align with accepted standards of right and wrong. Moral values help individuals act responsibly, honestly, and compassionately. Morality applies to intentions as well as actions, meaning that both what we do and why we do it matter. It influences how people relate to family, friends, coworkers, and strangers. This focus on conduct helps promote social cohesion, trust, and fairness, making morality essential for peaceful and respectful human interaction.

  • Universality and General Application

A key feature of morality is its universal nature—it tends to apply broadly across time, cultures, and societies. Although specific moral codes may vary, fundamental values like justice, honesty, respect, and compassion are recognized in most cultures. Moral principles are often seen as general rules that apply to everyone equally, regardless of status or identity. This universality makes morality a shared human concern, forming the basis for global human rights and ethical standards. However, interpretations of moral behavior may be influenced by local customs, beliefs, and historical context.

  • Influenced by Culture and Society

While morality has universal aspects, it is also shaped by culture and society. Different societies develop unique moral systems based on traditions, religious teachings, historical experiences, and social values. For example, moral views on gender roles, marriage, and work can vary significantly across cultures. Social institutions like family, education, religion, and law play a major role in shaping an individual’s moral understanding. As cultures evolve, so do their moral norms. Thus, morality is both a universal guide and a product of the social and cultural environment in which one lives.

  • Internal and Personal

Morality is internalized through conscience and personal reflection. Unlike laws, which are externally enforced, moral values are often upheld by individual conviction. People tend to follow moral principles because they believe it is the right thing to do, not simply to avoid punishment. This internal aspect means that morality often motivates behavior from within, driven by guilt, shame, empathy, or a desire to do good. Personal experiences, upbringing, and moral education influence how deeply these values are rooted. The strength of one’s morality is often seen in how they act under pressure or in private.

  • Dynamic and Evolving

Morality is not static; it evolves over time as societies progress and human understanding deepens. What was once seen as morally acceptable may now be condemned, and vice versa. For example, societal views on slavery, women’s rights, and LGBTQ+ rights have changed significantly in many parts of the world. As science, philosophy, and cultural values shift, so do moral judgments. This dynamic nature allows morality to adapt to new challenges such as bioethics, digital privacy, and environmental sustainability. Evolving morality helps societies remain just, compassionate, and responsive to emerging ethical dilemmas.

Key differences between Ethics and Morality

Aspect Ethics Morality
Basis Principles Beliefs
Nature External Internal
Source Professional Cultural
Application Workplace Personal Life
Regulation Systematic Social
Judgment Rational Emotional
Universality Relative Absolute
Enforcement Formal Informal
Flexibility Adaptive Rigid
Focus Right Action Right Intention
Foundation Code of Conduct Conscience
Dependency Society Individual
Governed By Institutions Traditions
Subject To Change Yes Slowly
Example Context Business Religion
Management Notes

Evolving ethical Values

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Ethical Values are the moral principles that guide decision-making and behavior in business, ensuring fairness, integrity, and responsibility. These values include honesty (truthfulness in communication), integrity (consistency between actions and principles), fairness (equitable treatment of stakeholders), respect (acknowledging the dignity of employees and customers), accountability (taking ownership of decisions), and loyalty (prioritizing ethical commitments over short-term gains). By upholding these values, businesses build trust, maintain a positive reputation, and foster long-term success. Ethical values also help companies navigate dilemmas, comply with legal standards, and contribute positively to society, proving that profitability and ethics can coexist in a sustainable business model.

  • Historical Foundations of Business Ethics

Business ethics has evolved alongside societal changes. In early commerce, trade was governed by basic moral codes, such as honesty in transactions and fair bartering. Religious teachings, like the Protestant work ethic, emphasized diligence and integrity. The Industrial Revolution introduced labor exploitation, prompting early ethical debates on workers’ rights. Philosophers like Adam Smith argued that self-interest, when balanced with moral responsibility, could benefit society. These foundational principles laid the groundwork for modern business ethics, emphasizing trust, accountability, and fairness as timeless values.

  • Rise of Corporate Social Responsibility (CSR)

In the 20th century, businesses faced increasing pressure to go beyond profit-making. The concept of CSR emerged, advocating that companies should contribute to societal well-being. Ethical values expanded to include environmental sustainability, philanthropy, and ethical labor practices. Scandals like the 1984 Bhopal disaster highlighted the consequences of neglecting social responsibility. Today, CSR is integral to corporate strategy, with firms adopting ethical sourcing, carbon neutrality, and community engagement as core values.

  • Technology and Ethical Challenges

The digital age introduced new ethical dilemmas, such as data privacy, AI bias, and automation’s impact on jobs. Companies like Facebook and Google face scrutiny over user data misuse, prompting stricter regulations like GDPR. Ethical values now include transparency in algorithms, cybersecurity, and digital rights. Businesses must balance innovation with ethical considerations, ensuring technology serves humanity without exploitation or discrimination.

  • Globalization and Cross-Cultural Ethics

As businesses expand globally, ethical values must adapt to diverse cultural norms. Practices like bribery, which may be tolerated in some regions, conflict with anti-corruption laws like the U.S. Foreign Corrupt Practices Act. Multinational corporations now emphasize universal human rights, fair wages, and anti-discrimination policies while respecting local customs. Ethical relativism vs. absolutism remains a key debate, requiring businesses to navigate complex moral landscapes.

  • Sustainability as a Core Ethical Value

Climate change has redefined ethical business conduct. Consumers and regulators demand eco-friendly practices, pushing companies to adopt circular economies, renewable energy, and zero-waste policies. Ethical values now prioritize long-term environmental stewardship over short-term profits. For example, Patagonia’s commitment to sustainability has become a competitive advantage, proving that ethical values can drive both impact and profitability.

  • Future of Ethical Values in Business

Emerging trends like ethical AI, stakeholder capitalism, and conscious consumerism will shape future business ethics. Employees and investors increasingly favor companies with strong ethical frameworks, as seen in the rise of ESG (Environmental, Social, and Governance) investing. The next frontier includes addressing income inequality, ethical supply chains, and corporate activism. Businesses that embed evolving ethical values into their DNA will thrive in an era where morality and profitability are intertwined.

Management Notes

Board of Directors (BODs) Meaning, Definitions, Board Meeting, Committee Meeting

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Board of Directors (BODs) is a group of individuals elected or appointed to oversee the activities and strategic direction of a corporation or organization. They represent the interests of shareholders and are responsible for making high-level decisions regarding the company’s policies, goals, and overall management. The board plays a crucial role in ensuring the organization is well-governed and operates in a manner that aligns with its objectives and legal requirements.

Definitions of Board of Directors:

  • Corporate Governance Perspective

The Board of Directors is a collective of individuals tasked with governing a company, making strategic decisions, and ensuring accountability to shareholders.

  • Legal Definition

Legally, the Board of Directors is defined as a group of individuals who have been elected or appointed to manage the affairs of a corporation in accordance with the law and the company’s bylaws.

  • Management Definition

From a management perspective, the Board of Directors serves as a link between the shareholders and management, providing oversight and guidance to enhance organizational performance.

  • Regulatory Perspective

Regulatory bodies often define the Board of Directors as a governing entity that must comply with various laws and regulations regarding corporate conduct, ethics, and financial reporting.

Board Meetings

Board meeting is a formal gathering of the Board of Directors to discuss and make decisions regarding the company’s operations, strategies, and policies. These meetings are essential for ensuring that the board fulfills its responsibilities effectively.

Key Features of Board Meetings:

  • Frequency

Board meetings typically occur at regular intervals, such as quarterly or annually, but can also be convened as needed for urgent matters.

  • Agenda

Each meeting has a predetermined agenda outlining the topics to be discussed, including financial reports, strategic plans, and any pressing issues.

  • Minutes

Minutes are recorded during board meetings to document discussions, decisions made, and action items assigned. These serve as an official record for future reference.

  • Quorum

Quorum is required for decisions to be valid. This means a minimum number of directors must be present, as defined by the company’s bylaws.

  • Voting

Decisions are often made through voting, where each director has a say, and outcomes are determined based on majority rules.

  • Transparency

Board meetings promote transparency and accountability, providing an opportunity for directors to discuss matters openly and share their perspectives.

  • Confidentiality

Discussions in board meetings are typically confidential, protecting sensitive information and strategies from being disclosed outside the board.

Committee Meetings

Committee meetings are gatherings of a subgroup of the Board of Directors that focuses on specific areas of the organization’s operations, such as audit, finance, governance, or compensation. Committees are established to address particular issues more thoroughly than would be feasible in a full board meeting.

Key Features of Committee Meetings:

  • Purpose

Each committee has a distinct purpose, such as overseeing financial audits, ensuring compliance with regulations, or evaluating executive performance.

  • Composition

Committees usually consist of a subset of the board members, often including directors with relevant expertise or experience.

  • Regularity

Committee meetings can occur more frequently than board meetings, allowing for detailed examination and recommendations to the full board.

  • Reports

Committees report their findings and recommendations to the full board, often including detailed analyses and proposed actions.

  • Specialization

Committees allow for specialized attention to complex issues, enabling more informed decision-making by the board as a whole.

  • Decision-Making

While committees can make recommendations, they typically do not have the authority to make final decisions unless explicitly granted that power by the board.

  • Documentation

Like board meetings, committee meetings also require minutes to record discussions and decisions, which are then shared with the full board.

Management Notes

Director Meaning, Definition, Director Identification Number, Position, Rights

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Director is an individual appointed to the board of a company to oversee and manage its affairs and operations. Directors are responsible for making strategic decisions, ensuring legal compliance, and safeguarding shareholders’ interests. They act as fiduciaries, meaning they must prioritize the company’s well-being over personal gain. Under the Companies Act, 2013 (India), a director is defined as “a person appointed to the board of a company.” Directors can be executive, non-executive, or independent, each playing a distinct role in governance. Their duties include policy-making, risk management, financial oversight, and representing the company to stakeholders.

Director Identification Number [DIN]

Director Identification Number (DIN) is a unique identification number assigned to an individual who is appointed as a director of a company or is intending to become a director in India. Introduced under the Companies Act, 2006, and later incorporated into the Companies Act, 2013, the DIN system aims to streamline the governance and tracking of individuals serving as directors across multiple companies. Ministry of Corporate Affairs (MCA) is responsible for issuing and managing the DIN database.

Key Features of DIN:

  • Unique and Lifetime Validity:

DIN is a unique, eight-digit number assigned to an individual for a lifetime. Once issued, it remains valid irrespective of any change in the individual’s directorship status, company affiliation, or personal details. This ensures a consistent track record of a person’s involvement with companies.

  • Mandatory for Directors:

As per the Companies Act, 2013, every individual intending to become a director must first obtain a DIN before they can be appointed to the board of any company. No person can be appointed as a director without possessing a valid DIN.

  • Application Process:

To obtain a DIN, an individual must submit an application through Form DIR-3 on the MCA portal, along with personal details and supporting documents, including proof of identity and address. The form must be digitally signed by a practicing professional (such as a Chartered Accountant or Company Secretary) who verifies the applicant’s credentials.

  • DIN for Foreign Nationals:

Foreign nationals, too, can apply for a DIN if they are appointed as directors of Indian companies. They must follow the same application process, but the identity and address proof requirements may differ based on their country of residence.

  • DIN Database:

Once issued, a DIN is stored in a central database maintained by the MCA. This allows authorities, companies, and stakeholders to track an individual’s involvement in multiple companies, providing transparency and accountability.

  • Updating DIN Information:

Any change in the personal details of the director, such as a change in name, address, or contact information, must be updated through Form DIR-6. This ensures that the records in the MCA database are current.

  • Cancellation or Deactivation of DIN:

DIN can be deactivated by the MCA in cases of disqualification of the director, submission of incorrect information, or upon the director’s resignation or death. Additionally, directors who fail to comply with regulatory requirements, such as not filing financial statements, may also face the suspension of their DIN.

Qualification of Director:

The qualifications required for becoming a director in India are outlined under the Companies Act, 2013, as well as through specific company bylaws or the articles of association. The Act provides a basic framework for eligibility, while individual companies may impose additional criteria based on their industry or governance needs.

1. Minimum Age Requirement

  • A person must be at least 18 years old to be eligible to serve as a director.
  • There is no maximum age limit under the Companies Act, 2013, but a company’s articles of association may set a retirement age for directors.

2. DIN (Director Identification Number)

  • Every person appointed as a director must have a Director Identification Number (DIN). This unique identification number is issued by the Ministry of Corporate Affairs (MCA) and is mandatory for anyone intending to become a director in India.
  • The DIN helps in maintaining a record of all directors and their roles across companies.

3. Nationality

  • A director can be of any nationality, meaning both Indian nationals and foreigners can be appointed as directors in Indian companies.
  • However, certain types of companies (like Public Sector Undertakings or companies in regulated industries) may have specific restrictions regarding the nationality of directors.

4. Educational and Professional Qualification

  • The Companies Act, 2013 does not impose any minimum educational or professional qualifications for directors.
  • However, certain companies, particularly in sectors such as banking, finance, and healthcare, may require directors to have specific qualifications or expertise.
  • Independent directors, as mandated for listed companies, are required to possess appropriate qualifications or experience relevant to the company’s sector.

5. Financial Soundness

  • Directors should not be insolvent or declared bankrupt. If a director has been adjudged insolvent or declared bankrupt and has not been discharged, they are disqualified from holding the position of a director.

6. Sound Mind

  • A director must be of sound mind and capable of making decisions in the company’s best interests. Any individual who has been declared of unsound mind by a court is disqualified from serving as a director.

7. Non-Disqualification under Section 164 of the Companies Act, 2013

Under Section 164 of the Companies Act, 2013, certain disqualifications prevent a person from being appointed as a director. These include:

  • Being convicted of any offence involving moral turpitude or sentenced to imprisonment for a period of six months or more (unless a period of five years has passed since the completion of the sentence).
  • Failure to pay calls on shares of the company they hold.
  • Disqualification by an order of a court or tribunal.
  • Not filing financial statements or annual returns for three continuous financial years.
  • If a person has been a director of a company that has failed to repay deposits, debentures, or interest for more than a year.

8. Residency Requirements

As per the Companies Act, 2013, every company must have at least one director who has stayed in India for a total period of not less than 182 days during the financial year. This provision ensures that there is at least one resident Indian director on the board.

9. Limit on Directorships

  • A person cannot be a director in more than 20 companies at the same time, including private companies. Of these, they can only be a director in 10 public companies at most.
  • This limit ensures that a director can effectively manage and fulfill their duties in all the companies they serve.

Position of Director:

  • Fiduciary Position

Directors hold a fiduciary position, meaning they are entrusted with the responsibility to act in good faith and prioritize the company’s interests over personal or third-party benefits. They must exercise care, diligence, and loyalty when making decisions that impact the company’s operations, financial health, and future.

  • Agent of the Company

As agents, directors act on behalf of the company in dealings with third parties. They represent the company in contractual matters, negotiations, and legal proceedings. The authority they exercise is governed by the company’s memorandum and articles of association. However, directors must always act within the scope of their authority to avoid personal liability.

  • Trustee of the Company’s Assets

Directors are considered trustees of the company’s assets and must manage them responsibly. They cannot misuse company funds or property for personal gain or purposes unrelated to the company’s objectives. As trustees, directors are expected to safeguard the company’s assets, ensuring they are used efficiently for business operations and in line with shareholder interests.

  • Corporate Decision–Maker

Directors play a pivotal role in the company’s decision-making processes. They are responsible for setting the company’s strategic direction, establishing policies, and making high-level decisions that shape the future of the company. Their decisions can include mergers, acquisitions, entering into contracts, approving financial statements, or appointing key management personnel.

  • Governance Role

The position of a director involves a strong governance function, ensuring that the company complies with legal, regulatory, and ethical standards. Directors are tasked with upholding corporate governance principles, maintaining transparency, and ensuring that the company adheres to rules and regulations, such as those outlined in the Companies Act, 2013 (India).

  • Individual and Collective Responsibility

Director operates within a board of directors, which means they share collective responsibility for the board’s decisions. While individual directors may have specific duties based on their role (executive, non-executive, independent), they are also responsible for the overall governance and outcomes of board decisions. Each director is expected to contribute to discussions and decision-making processes and share accountability.

  • Liaison Between Shareholders and Management

Directors serve as a bridge between shareholders and the company’s management. They represent shareholders’ interests by overseeing the performance of the company’s executive team and ensuring that management acts in accordance with the board’s directives. Directors must strike a balance between allowing management operational freedom and maintaining oversight.

  • Legal Status

The position of a director carries legal status under the Companies Act, 2013 (India). They are subject to statutory duties, including maintaining accurate financial records, submitting periodic reports, and ensuring the company follows legal compliance. Directors can be held legally liable for breaches of duty, negligence, or fraudulent activities within the company.

Rights of Director:

  • Right to Participate in Board Meetings

Directors have the right to participate in all board meetings, where they can discuss and make decisions on key business matters. They are entitled to be notified in advance about the meetings and must have access to the agenda and related documents. Participation allows directors to engage in decision-making, express their views, and vote on company policies, strategies, and resolutions.

  • Right to Access Financial Records and Information

Directors have the right to access the company’s books of accounts, financial records, and other key documents. This right ensures that they can evaluate the financial health of the company and make informed decisions. It also helps them oversee the management’s performance, monitor the use of company resources, and ensure compliance with financial regulations.

  • Right to Remuneration

Directors are entitled to receive remuneration for their services. The form and amount of this compensation are typically determined by the company’s articles of association or as decided by the shareholders. Remuneration can be in the form of salaries, fees, commissions, or bonuses. Non-executive and independent directors may receive sitting fees or other compensation for their involvement.

  • Right to Delegate Powers

Directors have the right to delegate certain powers and duties to committees or other directors, provided that the company’s articles of association permit such delegation. This right helps directors manage responsibilities more effectively by appointing specialists or experts to handle specific areas, such as finance, audit, or risk management.

  • Right to Indemnity

Directors have the right to be indemnified for liabilities incurred while performing their duties in good faith. Many companies provide indemnity insurance for directors to cover legal costs, settlements, or damages arising from lawsuits or claims made against them in their official capacity. This right protects directors from personal financial loss when acting in the company’s best interests.

  • Right to Seek Independent Professional Advice

If a director feels that expert guidance is necessary for decision-making, they have the right to seek independent professional advice at the company’s expense. This can include legal, financial, or technical advice, especially in complex matters requiring specialist knowledge. It helps ensure that directors make informed, well-considered decisions.

  • Right to Resist Unlawful Instructions

Directors have the right to refuse to follow any instructions from shareholders, other directors, or management that are illegal, unethical, or detrimental to the company. They must act in the company’s best interest and can challenge decisions or actions that violate the law or harm the company’s reputation or financial stability.

Management Notes

Full Time Directors and Protem Appointment, Qualifications and Duties

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Full-time Director (FTD) plays a crucial role in the overall management and functioning of a company. They are involved in the day-to-day affairs of the company and are an essential part of its leadership. According to the Companies Act, 2013, a whole-time director is defined as a director who is in full-time employment with the company and devotes their entire time and attention to managing its operations. The appointment, qualifications, and duties of a whole-time director are governed by the Companies Act, ensuring that the role is structured to meet corporate governance standards and to ensure effective management of the company.

Appointment of Full-time Director:

The appointment of a Full-time director must follow a structured process that is outlined by the Companies Act, 2013, and subject to certain conditions. The whole-time director can be appointed by the board of directors, shareholders, or as per the company’s articles of association.

  • Appointment by the Board of Directors

The board of directors can appoint a whole-time director through a resolution passed at a board meeting. The company’s articles of association must authorize the appointment of a whole-time director. If the articles do not contain provisions for the appointment, they may need to be amended.

  • Approval from Shareholders

The appointment of a Full-time director also requires approval from the shareholders in the next general meeting. If the board appoints a Full-time director, the shareholders must confirm this appointment. It is also essential that the shareholders are informed about the terms and conditions of the appointment, including remuneration.

  • Compliance with the Companies Act, 2013

In accordance with Section 196 of the Companies Act, 2013, a Full-time director cannot be appointed for a period exceeding five years at a time. However, they may be reappointed after the end of their term. The act also specifies that a whole-time director should not hold office in more than one company at a time, except with the approval of the board and the shareholders.

  • Listed Companies and SEBI Regulations

In the case of listed companies, the appointment of a Full-time director must also comply with the guidelines laid down by the Securities and Exchange Board of India (SEBI). The appointment must be in line with corporate governance principles, and relevant disclosures must be made to the stock exchanges.

  • Remuneration of Full-time Director

The remuneration paid to a Full-time director must comply with the provisions of the Companies Act, 2013 (specifically Section 197), which outlines the limits on managerial remuneration. Any remuneration exceeding the prescribed limits must be approved by the shareholders in a general meeting and be within the overall limit of managerial remuneration for the company.

Qualifications of Full-time Director:

Companies Act, 2013 does not lay down specific educational or professional qualifications for a Full-time director. However, certain general qualifications and restrictions are necessary for an individual to be eligible for this role.

  • Age Requirement

As per Section 196(3) of the Companies Act, 2013, a full-time director must be at least 21 years old and should not be more than 70 years old. However, an individual above 70 years of age can be appointed if the shareholders pass a special resolution with proper justification.

  • Non-disqualification under Section 164

The individual must not be disqualified under Section 164 of the Companies Act. This section specifies that a person who has failed to file financial statements or returns for a continuous period of three years, or who has been convicted of any offense involving moral turpitude, is disqualified from being appointed as a director.

  • Professional Experience

While the Act does not mandate specific qualifications, companies typically expect their full-time directors to have significant experience in business management, finance, operations, or industry-specific expertise. Since whole-time directors are involved in the day-to-day management of the company, their expertise in operational matters is essential.

  • Legal Eligibility

Full-time director must not have been declared bankrupt, must not be of unsound mind, and must not have been convicted of any fraud or financial irregularities. These legal requirements ensure that only individuals with a clean record are eligible for appointment to this key managerial position.

Duties of Full-time Director:

The duties of a Full-time director encompass both operational and strategic aspects of the company. As full-time employees of the company, whole-time directors are expected to take an active role in ensuring the efficient running of the business. Some key duties are:

  • Day-to-Day Management

Full-time director is responsible for managing the day-to-day affairs of the company. This includes overseeing various functions such as production, sales, marketing, human resources, and finance. They ensure that the company’s operations align with its objectives and strategies.

  • Compliance with Laws and Regulations

One of the primary duties of a Full-time director is to ensure that the company complies with all applicable laws and regulations. This includes filing statutory returns, adhering to tax laws, maintaining proper records, and ensuring compliance with corporate governance requirements as laid down by SEBI and the Companies Act, 2013.

  • Reporting to the Board of Directors

Full-time director is required to report regularly to the board of directors regarding the company’s performance, challenges, and opportunities. The director provides the board with updates on operational matters, financial health, and any significant issues that may affect the company.

  • Corporate Governance

Full-time directors play a crucial role in ensuring that the company adheres to strong corporate governance practices. They must ensure transparency in decision-making, fair dealings with stakeholders, and compliance with ethical standards. This also includes taking decisions that protect the interests of shareholders and stakeholders.

  • Leadership and Employee Management

Full-time director provides leadership to the company’s employees. They are responsible for setting corporate culture, motivating employees, managing conflict, and ensuring that all employees are aligned with the company’s goals. Additionally, they oversee the performance of key managers and ensure efficient execution of corporate strategies.

  • Strategic Planning and Implementation

Full-time directors are involved in the formulation and implementation of the company’s strategic plans. They work closely with the board to develop business strategies, set objectives, and identify areas for growth. They also ensure that the company is well-positioned to capitalize on opportunities and mitigate risks.

  • Financial Oversight

Whole-time directors are responsible for overseeing the financial performance of the company. This includes budgeting, managing cash flow, ensuring that financial records are accurate, and preparing financial statements. They must ensure that the company’s financial practices adhere to the regulations laid down by the Companies Act and other relevant authorities.

  • Risk Management

Full-time director is also responsible for identifying and managing risks that could affect the company’s performance. This includes financial, operational, reputational, and compliance risks. By managing risks effectively, whole-time directors help protect the company’s assets and ensure long-term stability.

  • Representing the Company

In many instances, the Full-time director represents the company in external matters, such as negotiations with suppliers, business partners, investors, and regulators. They act as a spokesperson for the company and are expected to uphold its reputation in all dealings.

Protem Directors

The term “Protem Director” is derived from the Latin phrase pro tempore, which means “for the time being”. In corporate governance, a Protem Director refers to a temporary director appointed to manage the affairs of a company until the regular board of directors is duly constituted. Though the Companies Act, 2013 does not explicitly define “Protem Director,” the concept is acknowledged in corporate and legal practice, especially during the incorporation phase of a company.

In newly formed companies, the persons named in the Articles of Association or the subscribers to the Memorandum of Association usually act as Protem Directors. Their main role is to facilitate the initial setup—such as opening bank accounts, appointing statutory auditors, calling the first board meeting, or issuing share certificates—until the shareholders formally elect permanent directors in the first general meeting.

Protem Directors typically have limited authority and are not expected to make strategic decisions unless authorized. Their role is transitional, focused on ensuring that the company begins functioning in compliance with legal norms. Once regular directors are appointed, the role of the Protem Director ceases, unless they are retained or reappointed by shareholders.

This provision ensures that companies are not left ungoverned or without legal authority during the critical startup period. Although informal in legal codification, Protem Directors are essential for ensuring early-stage corporate governance and continuity in a lawful and structured manner.

Natures of Protem Directors

  • Temporary Appointment

Protem Directors are appointed temporarily, typically at the time of incorporation of a company. Their tenure is limited to the period before regular directors are formally appointed by the shareholders. The term “protem” literally means “for the time being,” highlighting the temporary and transitional nature of their role. They do not serve permanently unless reappointed. Their presence ensures that the company has legally recognized individuals to act on its behalf during the initial organizational phase.

  • Not Explicitly Defined in the Companies Act

The Companies Act, 2013 does not specifically define or regulate Protem Directors. However, the concept is recognized through corporate practice and legal interpretation. Typically, the subscribers to the Memorandum of Association act as Protem Directors until the first general meeting. Though not defined in statutory law, the validity of their actions stems from necessity and implied authority to manage affairs until formal governance mechanisms are in place.

  • Role in Initial Set–Up

Protem Directors play a critical role in setting up the company’s basic infrastructure. They are responsible for tasks such as opening a bank account, appointing the first statutory auditor, issuing share certificates, and calling the first board meeting. Their authority is generally limited to these necessary and administrative duties. They help establish the corporate identity and ensure that the company can operate legally and efficiently from the moment it is incorporated.

  • Not Elected by Shareholders

Unlike regular directors who are appointed in a general meeting, Protem Directors are not elected by shareholders. Their appointment is either specified in the Articles of Association or assumed by the subscribers to the Memorandum at the time of incorporation. This bypasses the normal shareholder approval process and is based on the logic that some governance structure is essential until the first formal meeting of shareholders is held.

  • No Fixed Term or Contract

Protem Directors do not have a fixed term of office or formal employment contract. Their term ends as soon as the company’s first directors are duly appointed. Since their role is transitional, there is no need for a detailed contract or fixed duration. However, their names may be mentioned in incorporation documents, and any decisions they take must be within the legal scope of company formation activities.

  • Limited Powers and Responsibilities

The powers of a Protem Director are restricted to essential duties required for launching the company’s basic operations. They do not make strategic or policy decisions unless explicitly authorized. Their decisions are expected to be in the best interest of the company and aimed solely at enabling legal and operational functionality. They are not usually involved in managing core business operations or representing the company in external affairs beyond incorporation-related activities.

  • Subject to Company Law Provisions

Even though they are temporary, Protem Directors must comply with applicable provisions of the Companies Act, 2013. This includes maintaining statutory registers, complying with filing requirements, and ensuring the company’s legal obligations are met during the transition phase. They can also be held liable for non-compliance during their tenure. Thus, their role, though temporary, carries legal accountability and should be exercised with care and integrity.

  • Transition to Regular Directors

The appointment of regular directors marks the end of the Protem Director’s role. This usually occurs at the first general meeting of the company. If required, Protem Directors can be reappointed as regular directors through the normal shareholder approval process. This transition ensures smooth continuity and is a critical moment in formalizing the company’s governance structure, transferring control to duly elected board members.

  • No Entitlement to Remuneration

Protem Directors are usually not entitled to remuneration, especially in the absence of any shareholder resolution. Their role is honorary or minimal in compensation terms unless specific provisions are made in the Articles or decided at the first board meeting. This is because they primarily serve in a caretaker capacity, and their involvement is often limited to procedural compliance rather than revenue-generating or strategic leadership.

Management Notes

Approaches to the Study of Business Ethics

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Ethical means relating to morals, values, and principles that define what is right and wrong. It involves acting with integrity, honesty, fairness, and responsibility. Ethical behavior respects the rights of others, follows accepted standards, and promotes justice and trust in personal, professional, and social contexts.

Deontological Approach:

The deontological approach emphasizes moral duty over consequences. It holds that certain actions are inherently right or wrong, regardless of outcomes. For instance, lying or breaking a promise is considered unethical, even if it leads to a positive result.

This perspective has strong philosophical and religious roots. Scriptures like the Bhagavad Gita, Quran, and Guru Granth Sahib define moral absolutes, treating ethics as unchanging divine commandments. Similarly, philosopher Immanuel Kant argued that morality must be universal—actions should be judged based on whether they could become a universal law. For example, truthfulness is a principle everyone should follow unconditionally.

Deontology relies on intrinsic moral principles, such as those found in the Ten Commandments or Dharma, to determine right and wrong.

Teleological Approach (Consequentialism):

The teleological approach judges actions based on their outcomes. An act is ethical if it maximizes overall societal welfare, even if the means are questionable. For example, lying to save a life may be justified if it results in greater good.

Philosophers like John Stuart Mill and Jeremy Bentham supported utilitarianism, which measures morality by an action’s net benefit to society. An act is ethical if it creates more happiness than harm—not just for the individual, but for society as a whole.

For instance, breaking a contract may benefit one party but harm societal trust in business dealings. Thus, teleological ethics prioritizes collective well-being over rigid moral rules.

Emotive Approach:

Proposed by A.J. Ayer, the emotive approach argues that moral judgments are subjective expressions of personal emotions rather than universal truths. What one person considers ethical may differ based on feelings and perspectives.

For example, tax evasion may seem acceptable to an individual if they believe the system is unfair, even though society deems it unethical. Similarly, refusing military service may be seen as immoral by society but justified by personal anti-war beliefs.

An extension of this theory is virtue ethics, which focuses on personal integrity, character, and long-term ethical consistency rather than rigid rules. This allows individuals to rely on community standards without complex moral calculations.

Justice Approach:

The justice approach demands fairness, equality, and impartiality in ethical decisions. It opposes discrimination based on caste, gender, religion, or economic status, aligning with constitutional values like those in the Indian Constitution.

In organizations, this means uniform enforcement of rules—whether for a CEO or an entry-level employee. For example, harassment policies should apply equally to all, ensuring unbiased treatment.

This approach upholds the principle that ethical decisions must be free from favoritism, ensuring equitable treatment for all.

Moral-Rights Approach:

This approach emphasizes protecting fundamental human rights, such as those enshrined in the Indian Constitution and the U.N. Declaration of Human Rights. Ethical behavior must respect:

  • Right to safety (e.g., protection from hazardous products)

  • Right to truth (e.g., no fraudulent business practices)

  • Right to privacy (e.g., unauthorized data collection is unethical)

For instance, companies must ensure product safety and truthful advertising to uphold consumer rights. Violations, like privacy breaches, are considered morally unjustifiable.

Management Notes

Principles and Scope of Business Ethics

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Business ethics refers to the application of moral principles and standards to business behavior and decision-making. It involves evaluating what is right or wrong in the workplace, considering fairness, honesty, integrity, responsibility, and respect for stakeholders. Business ethics guides companies in maintaining transparency, building trust, and complying with laws while also considering social and environmental impacts. Ethical businesses strive not only for profit but also for long-term sustainability and positive contributions to society. In today’s globalized world, ethical conduct is essential for reputation, customer loyalty, employee satisfaction, and avoiding legal issues or public backlash.

Principles of Business Ethics:

  • Integrity

Integrity is the foundation of ethical business conduct. It refers to being honest, transparent, and consistent in actions and decisions, even when no one is watching. Businesses that operate with integrity build trust with employees, customers, investors, and the public. It involves fulfilling promises, avoiding deception, and being accountable for one’s actions. Integrity strengthens organizational culture, reduces corruption, and ensures that decisions are guided by truth and fairness rather than convenience or profit. Upholding integrity at all levels ensures long-term credibility and protects the organization from ethical lapses and reputational harm.

  • Accountability

Accountability means taking responsibility for one’s actions, decisions, and their consequences. In business, this applies to individuals, teams, and organizations as a whole. Ethical businesses acknowledge their mistakes, make efforts to correct them, and learn from them. Accountability encourages transparency, as it demands that actions be justifiable to stakeholders. It also promotes a culture of trust and responsibility where employees are motivated to act ethically. In the corporate context, accountability extends to financial reporting, compliance with laws, and delivering on promises made to customers, employees, shareholders, and the community.

  • Fairness

Fairness in business ethics means treating all stakeholders justly and without bias or favoritism. It involves offering equal opportunities, practicing non-discrimination, and promoting diversity and inclusion. Fair treatment extends to hiring, promotion, compensation, and customer service. Ethical companies also ensure fairness in competition and supplier relationships. By avoiding exploitation and upholding justice, businesses create an environment where employees and partners feel valued and respected. Fairness fosters loyalty, reduces internal conflicts, and enhances an organization’s reputation as an ethical and responsible player in the market.

  • Transparency

Transparency involves openly sharing relevant information with stakeholders and avoiding secrecy or deceit. Ethical businesses disclose information honestly in areas such as pricing, product quality, financial status, and business practices. Transparency builds trust, especially in a time when consumers and investors demand greater openness. It also supports informed decision-making, prevents misunderstandings, and holds the organization accountable. Transparent communication, both internally and externally, helps businesses avoid legal trouble, promotes ethical behavior, and reinforces the brand’s credibility. In governance, transparency in reporting and leadership decisions is key to public confidence.

  • Respect for Stakeholders

Respecting stakeholders means recognizing the rights, interests, and dignity of everyone affected by business decisions, including employees, customers, investors, suppliers, and the community. Ethical businesses actively listen to stakeholder concerns, treat people humanely, and foster positive relationships. This principle includes respecting labor rights, consumer rights, and environmental responsibilities. It discourages harmful practices such as exploitation, false advertising, and environmental degradation. Companies that respect their stakeholders often experience higher employee morale, customer satisfaction, and community support, which contributes to sustainable success and a positive corporate image.

  • Adherence to the Law

Obeying the law is a basic but critical ethical principle. Legal compliance ensures businesses operate within the rules set by governments, industry regulators, and international bodies. This includes labor laws, tax laws, environmental regulations, and consumer protection acts. Ethical businesses go beyond mere compliance by also following the spirit of the law—acting in a way that is just and responsible. Failing to adhere to laws can lead to penalties, lawsuits, and reputational damage. Upholding this principle maintains order, builds public trust, and protects stakeholders from unethical or illegal conduct.

Scope of Business Ethics:

  • Employee Ethics and Workplace Behavior

One major area within the scope of business ethics is employee behavior and internal workplace ethics. This includes issues like honesty, integrity, discipline, equal treatment, workplace safety, and fair compensation. Ethical organizations create policies to promote diversity, inclusion, and respect for employee rights. Ethical HR practices also discourage discrimination, harassment, and exploitation. Encouraging a culture of transparency, whistleblower protection, and accountability is essential. Employees are expected to follow codes of conduct, and management must model ethical leadership. Ensuring an ethical workplace boosts morale, productivity, and organizational loyalty.

  • Consumer Ethics and Customer Relations

Businesses have ethical responsibilities toward consumers, which fall under the scope of consumer ethics. This involves ensuring product safety, transparent pricing, honest advertising, and protection of customer data. Misleading advertisements, false claims, and defective products violate ethical principles. Ethical businesses provide accurate product information, fair return policies, and prompt customer service. They must avoid exploiting consumer trust and prioritize customer satisfaction. In today’s digital age, protecting consumer privacy and data security is a growing ethical obligation. Ethical customer relations help build trust, brand loyalty, and a strong corporate reputation.

  • Corporate Governance and Transparency

Corporate governance is a critical area within business ethics that deals with the responsibilities of directors, executives, and shareholders. Ethical governance ensures transparency, accountability, and fairness in decision-making. This includes proper disclosure of financial statements, ethical audit practices, and prevention of insider trading or fraud. Companies are expected to act in the best interest of all stakeholders—not just shareholders. Transparent governance fosters investor confidence and aligns the company’s objectives with ethical standards. Strong ethical governance prevents corruption, ensures compliance with regulations, and supports sustainable and long-term business success.

  • Environmental Ethics and Sustainability

Environmental concerns are now a significant part of the scope of business ethics. Companies have a responsibility to minimize environmental harm, reduce pollution, and promote sustainable practices. Ethical businesses strive to conserve resources, manage waste properly, and reduce their carbon footprint. Adopting green technologies, supporting renewable energy, and complying with environmental laws are ethical imperatives. Businesses are also expected to consider long-term ecological impacts in their strategies. Environmental ethics reflect a company’s commitment to future generations, corporate responsibility, and alignment with global sustainability goals like the UN Sustainable Development Goals (SDGs).

  • Ethics in Global Business and Social Responsibility

In a globalized economy, businesses operate across diverse cultures, legal systems, and ethical norms. The scope of business ethics includes respecting international labor standards, avoiding exploitation, and being culturally sensitive in global operations. Ethical companies reject practices like child labor, forced labor, and unethical sourcing. Corporate Social Responsibility (CSR) is also part of this scope, where businesses actively contribute to societal well-being through community development, education, and philanthropy. Upholding ethical standards globally enhances brand image and ensures compliance with international norms, while supporting social and economic development in various regions.

Bangalore University B.com Notes

Business Ethics Bangalore University B.com 2nd Semester NEP Notes

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Unit 1 Nature and Essence of Business Ethics {Book}
Meaning of Ethics, Scope & Importance of Ethics VIEW
Types of Ethics VIEW
Business Ethics Introduction, Meaning, Importance VIEW VIEW
Characteristics of Business Ethics VIEW
Factors Influencing Business Ethics VIEW
Principles & Scope of Business Ethics VIEW
Approaches to the study of Business Ethics VIEW
Arguments for and against Business Ethics VIEW
Unit 2 Personal & Professional Ethics {Book}
Personal Ethics Meaning VIEW
Principles of Personal Ethics, Importance VIEW
Emotional Honesty VIEW
Virtue of Humility VIEW
Karma Yoga concept VIEW
Professional Ethics Concept VIEW
Emergence of Professional Ethics VIEW
Need for Professional Ethics VIEW
Ethical Dilemmas in Profession: Healthcare, Education, Corporate, Social work VIEW
Reasons for the crisis of Professional Ethics (Nepotism, favoritism etc.) VIEW
Moral Entrepreneur VIEW
Unit 3 Business Ethics in Marketing & Finance {Book}
Meaning of Marketing, Need of Ethics in Marketing VIEW
Ethical dilemmas in Marketing VIEW
Unethical practices in Marketing VIEW
Ethical issues in Advertising, Promotions and Distribution VIEW
Common deceptive marketing practices VIEW
Role of Consumerism VIEW
Meaning of Finance, Ethics in Finance, Need of Ethics in Finance VIEW
Scope & Code of Ethics in Finance VIEW
Unethical practices in Finance VIEW
Creative Accounting Definition, Importance and Methods VIEW
Earnings Management & Accounting Fraud VIEW
Hostile takeovers in India VIEW
Case study: Kingfisher Airlines Scam, Satyam Scam. VIEW
Unit 4 {Book}
HRM Meaning, Definition, Need VIEW VIEW
HRM Types VIEW
Areas of HRM ethics VIEW
Ethical issues in HR, Unethical practices of HRM VIEW
Meaning & Importance of Workplace Ethics VIEW
Role of Management in inculcating workplace ethics VIEW
Factors shaping ethical behavior at work VIEW
Importance of Employee Code of Conduct VIEW
Ethical Leadership VIEW
IT – Ethical issues relating to Computer Applications VIEW
Information Security VIEW VIEW
Security Policies & Procedures, Information Protection VIEW VIEW
Ethical codes in Information Technology VIEW VIEW
Reducing threat to Information Systems VIEW
Objectives and Features of Cyber Laws in India VIEW VIEW
Objectives and Features of The Information Technology Act 2000 VIEW
Computer Crime VIEW VIEW
Computer Viruses Meaning, Types & Prevention VIEW
Ecological Ethics VIEW
Environment Protection and pollution control by businesses VIEW
VIEW VIEW
Unit 5 Corporate Governance & Corporate Social Responsibility {Book}
Corporate Culture Meaning, Characteristics, Importance VIEW
Positive and Negative impact of corporate culture in business VIEW
Role of CEOs in shaping Business culture VIEW VIEW
Corporate Governance Meaning, Scope, Principles, Benefits VIEW
Corporate Governance Characteristics VIEW
Corporate Governance Limitations VIEW
Corporate Governance Norms VIEW
Changes in Corporate Governance issues as per Companies Act 2013 VIEW
Various Committees on Corporate Governance VIEW
Board of Directors VIEW
Board of Directors Appointment & Duties VIEW VIEW
Cadbury Committee VIEW
Narasimhan Committee VIEW
Narayana Murthy Committee VIEW
Structure of Corporate Governance VIEW
CSR: Concept, Scope, Types, Various models VIEW
CSR Principles VIEW
CSR Strategies VIEW
Importance of CSR in contemporary society VIEW
Lucknow University BBA Notes

Business Ethics LU BBA 5th Semester NEP Notes

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Unit 1 Business Ethics [Book]
Business Ethics: An Overview, Concept, Nature VIEW VIEW
Evolving ethical values VIEW
Arguments against Business Ethics VIEW
Ethical theories and approaches: The Teleological approach and the Deontological approach VIEW
Universalism vs. Ethical relativism VIEW
Utilitarianism VIEW
Ethical principles in Business VIEW
Ethics and Morality VIEW
Ethical dilemma, Resolving ethical Dilemma VIEW
Ethical Decision making VIEW
Ethical Competency VIEW
Conflict of Interest VIEW
Unit 2 [Book]
Work life in Indian Philosophy VIEW
Indian ethos for work life VIEW
Indian values for the work place VIEW VIEW
Work-life balance VIEW VIEW
VIEW VIEW
Gandhian Philosophy of Wealth Management VIEW
Philosophy of Trusteeship VIEW
Values: Concept & Relevance in Business, Types of values VIEW
Values & ethical behaviour VIEW
Professional values VIEW
VIEW VIEW
Unit 3 [Book]
Application of Business Ethics in the world of business
Intellectual property rights: VIEW VIEW
Designs VIEW VIEW
Patents VIEW VIEW
Trademarks VIEW VIEW
Copyrights VIEW VIEW
Ethics in Marketing (Consumer rights, Advertising, Dumping) VIEW
Ethics in Finance (Financial disclosures, Insider trading, Window dressing) VIEW
Ethics in Information technology and systems usage (Data confidentiality) VIEW
Ethics in Human Resources Management (Whistle blowing, Discrimination) VIEW
Environmental ethics (Carbon trading) VIEW VIEW
Unit 4 [Book]
Corporate Social Responsibility VIEW VIEW
Social Responsibility of business with respect to different stakeholders VIEW
Carroll’s Pyramid of Corporate Social Responsibility VIEW
CSR and Strategy VIEW VIEW
Shareholder theory of the firm, Voluntary guidelines VIEW VIEW
Regulatory mandates for CSR VIEW VIEW
Corporate Governance Concept, Definition VIEW VIEW
Corporations and their characteristics VIEW VIEW
Global Corporate Governance Practices VIEW

 

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