Today, values hold a prominent place both in business ethics and in organization theory. However, there persists considerable confusion about what these values are and what role they play in these theories and, therefore, how they can be developed both within the individual and within the organization. Therefore, this paper seeks to define a conception of values based on a theory of human action that can provide a basis for an organization theory, and to propose a series of ideas about (...) how personal and organizational values can be fostered. (shrink)

First I briefly review the emergence and development of business ethics, following three stages (1978–1984; 1984–1994; 1994 to the present) and driven by four factors: the inheritance of Chinese traditional ethics; the influence of Marxist philosophy and ethics; the reflections on the economic reform; and the influence of business ethics from abroad. Then, from a practical and a theoretical perspective, I discuss the main challenges for business ethics in China: issues of the economic system, of corporate ethics, and of management. (...) After commenting on the role of business ethics for the social development in China, I offer some reflections about what China can contribute to, and learn from, other peoples. (shrink)

This article examines the business practices of Jamsetji Nusserwanji Tata, the founder the Tata group of business in India in the 19th century, from the perspective of stakeholder welfare. Jamsetji Nusserwanji Tata was concerned about the welfare of all major stakeholder constituents. His business practices promoted the welfare of employees, customers, society, owners, competitors, environment and other stakeholders. He implemented several measures even before law mandated them thus acting as a forerunner in promoting stakeholder welfare. His business plans became the (...) foundation for an economically strong India. This article, after an initial overview of the stakeholder framework, describes the business practices of Jamsetji Nusserwanji Tata with regard to major stakeholder constituents. Relevant research findings regarding each stakeholder constituent studied have been cited to show that the practices of Jamsetji Nusserwanji Tata have relevance to business even today. (shrink)

This article investigates the universal values scale, Schwartz Value Survey for its applicability to measure cultural context-specific values. The study establishes a need to construct a new scale by identifying and incorporating Indian culture-specific values in SVS. Deriving data using self-assessment questionnaires from 709 respondents in 2 studies and analysing them using principal component analysis and structural equation modelling, the article reconceptualizes Schwartz’s Portrait Values Questionnaire and the 10 motivational value factors and develops a new 76-item Holistic Values Scale to (...) measure Indian values using well-established scale development methods. The article further presents the research and policy implications and future research areas in this domain. (shrink)

In recent times there have been scores of corporate failures all over the world due to moral turpitude, lack of good governance, and erosion of values. The need for a change in corporates’ approach towards stakeholder management is greater now than ever before. Though the term ‘stakeholder’ was first used in the West in the 1930s, this concept has been highlighted in the ancient Indian scriptures written centuries ago. These highlight the methodologies the kings used to ensure the welfare of (...) all their stakeholders. The kings of yore, who considered themselves as trustees of their kingdom, can be compared to the top management in corporates of this era. Thus, the concepts highlighted in these ancient scriptures find as much relevance and applicability even in today's times. This article takes a brief look at few of the studies undertaken in this area and also highlights excerpts from the ancient Indian scriptures to prove that the concept of stakeholder management owes its origin to India. (shrink)

This paper presents the concept of character competence as a basis for creating ethical organizations. In view of the gaps between the 'statement' of values and the 'state' of values that have been witnessed recently in many corporates, the need to improve character competence of the corporates has become critical to the success of organizations. While corporates pay a lot of attention to core competence, they hardly pay much to character competence. Drawing upon various paradigms of ethics, this paper suggests (...) a holistic framework of business ethics rooted in ethical imperatives for individuals, organizations and markets. The framework developed in the paper forms the foundational basis for the concept of character competence. The author suggests the need for developing a character competence index and rating corporates on such an index. Further, it is suggested that ethical sensitivity can be inculcated through development of ethics-based management models with roots in character competence. (shrink)

The relevance of the guna theory to applications of Western management practice is seen in this paper as an insight holding capacity to guide managerial behaviour. In its essence, the guna theory depicts values which constitute human personality into a sattwa-rajas delineation of deepened understanding, giving direction to action and which, in turn, illustrates negative values likely to cause obstruction. For managers to appreciate this level of understanding, while simultaneously sensing those values which inhibit purposeful action, may be regarded as (...) containing strength in a more intuitive, subjective way than values of moral judgement adopted to guide managerial action in the West. As such, the guna theory has deep relevance in the face of egotistical, contractual or legal values, so often defining the parameters of Western management. (shrink)

This paper is an inspired address by the author to engage in a momentous battle for character and human values in life and worklife. The keynote of the author's exposition on values-centred manage ment is the concept of dharma. Here the Indian ideal of dharma is compared to and contrasted with the Western notion of integrity. While integrity is based on the human virtues of wholeness, goodness and having the courage and self-discipline to live by the inner truth, dharma gives (...) a radically different orientation to any human endeavour by upholding the notions of spirit, rightness, and fearlessness. There is also a distinction between individual dharma and organizational dharma, which the author defines as the organization's inner law. In the concluding part of the paper, the author crystallizes the wisdom contained in the Bhagavad Gita and asserts that hidden away in our inner nature is the law, the writ of our life that enables us to transcend the purposelessness of pomp, power, property and pedigree towards a more meaningful human existence. (shrink)

Job involvement as an attitude is an important variable that helps in maximizing organizational effectiveness. The higher the degree of job involvement of the members of an organization, the greater its effectiveness. In order to improve the degree of job involvement, one must have a realistic view of what determines it. Among the various views on job involvement, the most realistic one would be that it is a function of personality and organizational climate. Therefore, an attempt is made to study (...) on the relationship of personality, organizational climate and job involvement. To identify the personality types, an inventory is developed based on the Indian theory of psychological forces—the guna dynamics. Based on the analysis of the data collected, the concluding observation of the study is: ‘the less tamasic a person, the more will he be involved in his job’. (shrink)

The essay begins by the author's recollections of his younger days when people were seldom worried about moral decline in society. Today, however, it has become a real concern. Literature, philosophy, spiritual works are all essentially a celebration of human values. The paper examines the issue of scale of graded values as against that of absolutist universal values. A scrutiny of English literature reveals that some key literary figures in eighteenth-nineteenth century England drew attention to the decline of human values (...) accompanying increasing industrialization. The author discusses his own views on the management and role of human values in it, as also on human values and man's divine nature. He discusses the leader's role and an action programme for human values. The universality of Vedantic monism, and its triple idealism, is suggested as a basis for the regeneration of human values. (shrink)