With the aim to discuss some of the most pertinent questions related to ethics and its significance in today’s business scenario, XlRI–Xavier School of Management, in collaboration with XlRI Alumni (Mumbai Chapter) organised the ‘2nd Business Ethics Conference’ in Mumbai. Fr. E Abraham, director of XlRI, Fr. Ozzie Mascarenhas, SJ JRD Tata Chair Professor of Business Ethics at XlRI and founder of XlRI Ethics Research Center–XlERC, and key note address was delivered by Mukund Rajan, brand custodian, member, and group spokesperson–Group Executive Council, Chief Ethics Officer, Tata Sons in presence of other dignitaries.
“Given XlRI’s Jesuit background as an institution with grounding in social justice, we have always stressed upon the importance of pursuing an ethical code of conduct both in the workplace and in the business world. We believe that no management education curriculum is really complete, unless and until the students are instilled with a set of enduring values–that are indispensable ingredients for any aspiring business leader in today’s world. It is for this reason that a core course on “Managerial Ethics” is compulsorily offered to all our students at XlRI since early nineties,” remarked Fr. E Abraham, SJ Director of XlRI.
Mukund Rajan said, “India needs to create a positive environment for whistle blowers since anonymity is a concern. We would have to adopt similar policies followed in developed economies where whistle blowers are considered an essential aspect of corporate governance.’’ Fr. Ozzie Mascarenhas, said, “Ethics deals with human behavior and is currently reckoned as a responsible action program for the betterment of individuals, groups, organisations and societies. Ethics empowers us to chart and live a new value-laden direction in life. It becomes relevant wherever people interact and function together. Hence, every field of business such as planning and strategy, accounting, finance, human resources management, business law, marketing, business research, and production management involves ethical issues and challenges”.
“Most corporate failures today reflect low levels of wisdom and phronesis, low level of ethical maturity, and often, a badly trained conscience. In the past two decades, corporate fraudulent business practices have precipitated cash crises and subsequent bankruptcies - consider Enron, WorldCom, Global Crossing, Qwest Communications, and Tyco; Satyam, 2G, 3G, CWG and Sahara. Organization that stays ethical in all its products and services will have corporate advantage that translates to higher revenues, market share, profitability, and market capitalization,” he remarked.