BUSINESS ETHICS & GOVERNANCE

UNIT II

Indian Ethos for work life

Ethos
•It is a Greek word meaning Character, Personality or Custom.

The oxford dictionary defines Ethos as the characteristics, spirit and beliefs of
community people and the way they react to various problems and situations
in life.
It refers to habitual character of a group or community.
Organizations which have ignored the Indian philosophy of work, have only
gained external development at the cost of internal growth and inner peace.
Indian Philosophy emphasises on Mental peace and inner harmony.
Definition of Indian ethos
Indian ethos is a set of values and ethics derived from the Indian cultures asit
is depicted in the epics like Ramayana, Mahabharata and holy books like
Bhagwad Geeta and Vedas
Features of Indian Ethos
• Focuses on the existence of human being as truth. There is nothing more
perfect than the supreme soul.
• Indian ethos is principally derived from the Upanishads, Bhagwad Geeta, and
Puranas.
• Balance between spiritual values and secular values.
• Knowledge, good health and sound character impart real power.
• Emphasis on Inner Resources.
Ethos of Vedanta in Management
Ethos of Vedanta is based on supreme truth and supreme soul. If you do
good to someone, you will get good, the whole world will be good to you.
Management ethics is the ethical treatment of employees, stockholders, owners and the public
by a company. A company, while making a profit, should have good ethics. Employees
should be treated well, whether they are employed here or overseas. By being respectful of
the environment in the community a compound ethics, and good, honest records also show
respect to stockholders and owners. Most of us would agree that it is ethics in practice that
makes sense; just having it carefully drafted and redrafted in books may not serve the
purpose. Of course, all of us want businesses to be fair, clean and beneficial to the society.
For that to happen, organizations need to abide by ethics or rule of law, engage themselves in
fair practices and competition; all of which will benefit the consumer, the society and
organization. When ethics is used in management, organization grow at a different level. In
these days of globalization, Vedanta-based values will surely have to make a sympathetic
assessment of values of the people in the organization.

• The Mahabharata talks about four types of dealing with people

✓ Saam (Treating equally/Appreciation)

✓ Daam (Rewarding)

✓ Dand (Punishment)

✓ Bhed (Discrimination/Creating differences)

1. Saam - the policy of getting work done through peaceful negotiation

2. Daam - the policy of getting work done through money or allurement
3. Dand - the policy of getting work done through punishment or fear
4. Bhed - the policy of getting work done through creating differences or divide and rule
policy.

• According to our scriptures, people are oriented towards three-character

sets:
✓ Tamasik (the simpleton)
✓ Rajasik (the forceful/ambitious)
✓ Satwik (the wise)
This is how we conduct four types of transactions with three-character sets.

Basic Principles of Indian Ethos

Indian Values for the Workplace
• Respect for the elders
• The significance of relationship at workplace
• Respect for Hierarchy and Status
• Simple Living and High Thinking
• Balance and Moderation
• Work is Worship
• Significance of Wisdom (Knowledge vs values)

Work Life Balance

Work life balance is about Creating & Maintaining supportive & healthy
environments which will enable individuals to have balance between work &
personal responsibilities and thus strengthening loyalty & productivity.

• Work-life balance is the ability to experience a sense of control and to stay

productive and competitive at work while maintaining a happy, healthy home
life with sufficient leisure.
• It is attaining focus and awareness, despite seemingly endless tasks and
activities competing for one’s time and attention
• Work life balance is the term used to describe the balance that an individual
need between time
allocated for work and other aspects of life.
• Work-life balance is a term used for the idea that you need time for both
work and other aspects of life, whether those are family-related or personal
interests.

Causes of Imbalances
• Societal Expectations – Human being is a social animal and the society of
twenty first century expects a lot more from him. Like a painter’s master piece
is never perfect according to critics, which leads a painting to turn into crypt.
Similarly, society’s expectations take a toll on human beings. Society
(neighbours, teachers, relatives, friends etc.) expects a young boy to turn into a
businessman, an engineer, a doctor or actor at same time whilst leaving no
stone unturned to make him feel shabby.
• Extreme Ambition – Aiming high is always been the best piece of advice
people throw towards each other. But wait, keeping/setting and defining such
extreme ambition(s) that may sound like drawing blueprints to time travel are
definitely not the most alluring thing people should do. However, we should
always keep it in mind what we can certainly do things that sounds impossible
but again, everything has its own sheer limitations. People with aspirations to
be a Banker with extreme phobia of numbers…!! Gentleman, you need to
rework on your aspirations rather than blaming luck and using your true
potential towards betterment of society by trying some other trait. Yes… Who
knows you can be an excellent customer in same bank or maybe an HR
personnel.
• Desperateness for Perfection – People in modern world are knowingly or
unknowingly getting aware of new things that surrounds them and then the
feeling to exhibit the best to their social circles is the follow up reaction. We
want everything intact as seen. Be it a song “Main Heroine hoon” or a movie
“Mujhe Madhuri Dixit Banna Hai”, both are excellent examples of how people
are serious about seeking and then owing/being the 100% of perceived
 item/personality. Just try to focus on wedding ceremonies taking place 20
years back.
• Denied Depression (Depression – Addiction – Denial) - “Avoiding emotions,
such as sadness, keeps us from processing what is going on”. It keeps us from
being able to accept and move past the event. Negative emotions are useful,
especially sadness. Sadness can improve your judgment and motivation. Those
who allow themselves to experience sadness can use this emotion as a catalyst
to push them out of their comfort zone and do more to start to feel better. In
fact, those who process their sadness also show greater perseverance.”
Other Reasons
• Unhealthy environment
• Poor HR Policy
• Poor organizational structure
• Unsupportive superior

How to achieve work life balance

• Establish boundaries at work and stick to them
• Learn how to let go of things
• Prioritize your time
• Be selfish about your “ME” time.
• Ask for help
• Meditate (Exercise, Limit time wasters, Change life Schedule, Unplug
yourself from situations)

Importance of Work life Balance

1. Increased productivity
2. Lower absenteeism
3. Happier and less stressed employees
4. Improvements in employee health and well being
5. Positive image of the company
6. Greater employee loyalty
7. Greater Commitment
8. Motivated workforce