Being Ethical : Ethics as the Foundation of Business

by S. Manikutty

Businesses have to act in self interest but to what extent should they sacrifice ethical behaviour? The question has become increasingly relevant with the recent high profile corporate scandals such as Satyam and the 2G scam. But can, and should, a business behave ethically at all? Is the corporate social responsibility of a company just to make profits as Nobel Prize winning economist, Milton Friedman, once famously declared? In this timely book, Professor Manikutty takes us through the minefield of business and ethics looking at the ways in which ethics enters work and the choices available to companies and to individuals. He argues that being ethical is not a simple question of doing the right thing vs the wrong thing; it is to find a balance between multiple right or wrong choices, arriving at not a solution but a compromise. Using a variety of examples and case studies from Indian businesses, Being Ethical is an indispensable book for any responsible manager.

Unknown Binding

First published December 1, 2011

Reviews

[Dhruv Sharma · Rating 4 out of 5]

My first book of IIMA business books. Am not disappointed and like it. It is great learning and good interesting book.

Book explains that being ethical is not a simple question of doing the right thing vs the wrong thing, it is to find a balance between multiple right or wrong choices, arriving at not a solution but a compromise.

What I liked the most is various case studies mentioned at various instances. Also the reference to Indian Epic Hindu literature like Ramayan and Mahabharata.

What I did not like is that there is also very obvious stuff filled in and I guess if these couple of chapters are removed then it is overall very interesting.

Recommend for reading if you love Business books.

[Shikhar Verma · Rating 4 out of 5]

“Relativity applies to physics, not ethics” is a quote attributed to Albert Einstein as mentioned in this book, and I love it. I'd say this book is a must read for people like me who are deeply interested in learning what goes into creating a business that's trusted by customers. Since I don't come from a business family and neither do I have the money nor the time to go to a business school to do an MBA, these books come in really handy.

[Manas Deep · Rating 5 out of 5]

A very useful book that takes reference of real life business situations to explain the stands that manager could and should take and what behaving ethically entails.

[Arpan · Rating 4 out of 5]

This book is an essential primer to the world of Corporate Ethics as it encompasses a vast range of sub-topics. These mainly include:

1. Analysis of ethical issues through multiple approaches.
2. Reconciliation of perspectives of various stakeholders such as shareholders, customers, employees, community, and society.
3. The role of ethics in pricing, advertising, disclosing product features, and in dealing with a defective product/service.
4. Obligations of an employee and that of an employer.
5. Dealing with competitors.
6. Understanding the role of firms towards the environment in which they operate - how firms should be taking into account the issues of pollution, and depletion of resources.
7. Building an ethical organization by defining and institutionalizing values and standards.
8. The path to becoming an ethical manager through the Values Development Cycle.
9. Incorporating ethics in Management education such that business decisions and their consequences are viewed in a broader context.

Prof. Manikutty has done a commendable job of writing this book in an easy-to-read manner, replete with case studies to supplement the concepts discussed. He emphasizes the need for business leaders to engage in the process of understanding themselves better, form a strong value system, experience and reflect on events, question existing beliefs and modify them if need be.

[Anand Manikutty · Rating 5 out of 5]

5 stars.