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BUSINESS ETHICS AND CORPORATE GOVERNANCE (PGDM)

Module-I: Ethics in Business:


Meaning of Ethics, Definition of Ethics and Business Ethics, Introduction to Business ethics, Need, Importance, Nature, Scope, Objectives of Business Ethics, Factors influencing Business Ethics, Characteristics of Business Ethics, Ethical decision making, Discrimination on the basis of gender, caste or race. Facts, morals, values, norms, beliefs and standards in ethics, Ethical subjectivism and Relativism, Moral Development (Kohlbergs 6 stages of Moral Development), Myth of a moral business. Decision making (Normal Dilemmas and Problems): Application of Ethical theories in Business (i)Utilitarianism (J.Bentham and J.S. Mill), (ii) Deontology (I. Kant), Virtue Ethics (Aristotle). Economic Justice: Distributive Justice (John Rawls), Libertarian Justice (Robest Nozick), Ethical Issues in Functional Areas of Business. Marketing: Characteristics of Free and Perfect competitive market, Monopoly, oligopoly, Ethics in Advertising (Truth in Advertising). Finance: Fairness and Efficiency in Financial Market, Insider Trading, Green Mail, Golden parchate. HR: Workers Right and Duties, Work place safety, sexual harassment, whistle blowing. POM: Working conditions, gifts, hearing damages, hazards, vibration and shock affecting peoples lives.

Module II: Corporate Governance:


What is Corporate Governance, Origin and Development of Corporate governance, Separation of ownership and control, OECD principles, Sarbanes Oxley act, Issues in Corporate Governance, Need for and importance of Corporate Governance, Benefits of good governance to companies and to the society, Theories underlying Corporate Governance (Agency theory, Stewardship theory, Stake holder theory, Sociology theory), Corporate Governance Mechanism and Models (Anglo-American Model, German Model, Japanese Model and Indian Model). Obligation to society, Investors, employees and customers, managerial obligations, emphasis on Corporate governance, Ethics and Governance, Process and Corporate Governance (Transparency, Accountability and Empowerment).

Module III: Role Players and Committees:


Role of Board of Directors and Board Structure, Role of the Non - executive Director, Role of Auditors, SEBI and Government, Growth of Corporate Governance in India, Recommendations by various committees on corporate governance (Kumaramangalam Birla Committee, CII Report, Cadbury Committee, NarayanMurty Committee, Naresh Chandra committee, J.J.Irani committee)

Module IV: Relationship of Business Ethics & Corporate Governance


Introduction, Importance and need for Business Ethics in Indian Context, roots of unethical behaviour and Issues, Corporate Governance Ethics, How ethics can make corporate governance more meaningful, Corporate social responsibility of business.

Case studies:
Infosys Technologies, Tata Steel, The rise and fall of Arthur Andersen, The Enron Fiasco, TVS Group of companies, Satyam.

Recommended Books:

1. Business Ethics Text & Cases, C.S.V.Murthy, HPH 2. Corporate governance, A.C.Fernado, Pearson

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