A Critical Analysis on Business Ethics in Judicial Perspective

Abstract

“This study examines the condition of business ethics and corporate governance in the Indian context, focusing on the IT/Software, Health/Pharmaceuticals, Education, Government sector/Public utilities, Financial Services, Consulting, and Manufacturing industries. The purpose of this study is to evaluate the current state of business ethics in these industries and to identify the underlying factors that contribute to unethical behaviour. The study commences with a thorough introduction that provides an overview of corporate governance, business ethics, and their complex interplay. It examines the definitions and purposes of corporate governance and business ethics, with an emphasis on the central role played by ethics in ensuring effective governance practises. The problem statement emphasises the importance of confronting unethical behaviour and deficiencies in extant codes of conduct and corporate governance systems. Prior studies and research in the field are analysed through a comprehensive literature review to establish a firm theoretical foundation for the study. Defined objectives and research queries serve as governing principles for the duration of the research process. The methodology section describes the research strategy, data collection methods, and analysis techniques used. The scope of the study is defined to include the selected industries and their ethical landscape. A chapter is devoted to the historical evolution of business ethics, shedding light on the evolution of ethical practises within the business domain. The study then investigates principles of business ethics and key ethical issues in corporate governance, with a particular focus on codes of ethics and the board's role. The study investigates in depth the difficulties associated with incorporating ethics into business practises. This includes a thorough examination of ethical leadership, organisational culture, ethical decision-making, ethical supply chain management, and global factors. The conclusion of the chapter emphasises the significance of incorporating ethics into all aspects of business operations. Another chapter examines the relationship between whistleblowing and corporate governance ethics. It examines the definition, benefits, challenges, legal framework, policies, and procedures of whistleblowing, illuminating its role in shaping corporate culture. Case studies and examples from the real world illustrate the effects of whistleblowing. The study concludes by investigating the contribution of the legal system to the concept of business ethics. It examines judicial interpretations, examples of case law, and the effects of judicial decisions on corporate governance practises and ethical conduct. The chapter concludes by emphasising the crucial role of the judiciary in achieving an equilibrium between competing ethical considerations. In short, the purpose of this study is to provide a comprehensive comprehension of business ethics in India's main industries. By identifying areas for improvement, this study aims to improve corporate governance practises, reduce unethical behaviour, and cultivate an ethical culture in Indian businesses. The study contributes to the ongoing discussion on promoting responsible business conduct and bolstering ethical standards in the Indian business landscape...”