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According to the article "Indian Philosophy and Business Ethics: A Review", by Chandrani Chattopadyay, Hindus follow "Dharma" as Business Ethics and unethical business practices are termed "Adharma". Businessmen are supposed to maintain steady-mindedness, self-purification, non-violence, concentration, clarity and control over senses.
The Caux Round Table (CRT) is an international organization of senior business executives formed to promote ethical business practices. [1] It was founded in 1986 by Frits Philips, [2] President of Philips, Olivier Giscard d'Estaing, and Ryuzaburo Kaku, President of Canon.
Organizations that lack ethical practices as a mandatory basis of their business structure and corporate culture, have commonly been found to fail due to the absence of business ethics. Corporate downfalls would include, but are not limited to, the recent Enron and WorldCom scandals, two primary examples of unethical business practices ...
In its 2007 International Good Practice Guidance, "Defining and Developing an Effective Code of Conduct for Organizations", provided the following working definition: "Principles, values, standards, or rules of behaviour that guide the decisions, procedures, and systems of an organization in a way that (a) contributes to the welfare of its key stakeholders, and (b) respects the rights of all ...
Ethical codes are adopted by organizations to assist members in understanding the difference between right and wrong and in applying that understanding to their decisions. An ethical code generally implies documents at three levels: codes of business ethics , codes of conduct for employees, and codes of professional practice.
The Business for Peace Foundation encourages the private sector to follow responsible business practices. The Business for Peace Foundation promotes the concept of being "business-worthy", “ethically creating economic value that also creates value for society.” [8] [4] Such an approach seeks to raise business practices from short-term win-lose dynamics to fulfilling longer-term win-win ...