Be All PPT - Merged
Be All PPT - Merged
Be All PPT - Merged
“A system of accepted beliefs that control behaviour, especially such a system based on
morals.” -Cambridge dictionary.
Values
individual responds or behaves in the given
circumstances. Honesty, truthfulness, fairness
etc are examples of personal values.
Morals
society and backed by culture or
religion.
➔ Morality of a person is reflected in the
Behaviour choices he makes and decisions he
takes.
➔ It reflects the temperament of an
individual.
➔ It flashes the vibes that a person
exhibits while interaction with others.
➔ It is the way an individual expresses
of Respectfulness Trustworthiness
Business
Sense of responsibility Legitimate
Today’s
the flow of information cannot beholden for a long time.
Today the investors and the consumers are empowered
with the information, they have many choices in the
Business market and they are fully aware about their rights.
In such circumstances an organization cannot succeed
World? in the long run with maleficent business practices
so following good business practices and enduring
ethical conduct becomes binding for every business
organization.
Most importantly, the reasons for the ethical behavior in
Ethics ●
in the decisions taken by the organization.
Being the part and parcel of society the business
organizations and their decisions are also affected
Gets by the changes in the environmental factors.
● These factors may be Internal factors related to the
Affected? ●
organization or the External factors.
The internal factors related to an organization can be
controlled by some extent but external factors are
beyond the control of the organization and are highly
dynamic in nature.
Internal Factors
Internal factors are related to the business organisation.
They can be controlled to some extent. Internal factors
Does affecting business ethics are largely govern by vision,
mission, policies and company culture.
Business Vision statement Perception
Gets framework
Business
applicable in almost all the walks of life.
It is always desirable to be ethical in the conduct
1. Ethics in conformity
Are 2. Ethics in finance
Pervasive 3. Ethics in human resources
Implementation incur some cost and thus the profits margins get
affected.
of
It can be also explained as when your competitors
Business are involved in malpractices and incurring huge
Ethics profits one can also get tempted towards such
(what stops an malpractices and earning more profits.
Organisation to
Even if there are some stumbling blocks in way of
follow the ethics?)
implementing ethics in the business; the boons
attached to this are countless.
Examples of
a few
Unethical
Business
Practices
Ability may get you
to the top, but it
takes character to
keep you there.
The person born
Contact us:
with a talent they
are meant to use
Vocademics will find their
Ahmedabad-India greatest happiness
in using it.
[email protected] Creative thinking is
www.vocademics-india.com not a talent, it is
a skill that can be
+91 9081 900 911 learned. ...
And through
practice and study
we can enhance our
skills and talents.
Business Ethics
Dr. Trilok Sharma
Session 2
Theories & Approaches of Ethics
Objectives
In this session we will discuss about various approaches and theories of ethics
propound by different scholars and give a deep insight to the contentious
psychological issues related to morality. After completing this session, you -
1. will get a fair idea about various ethical theories and approaches developed
by philosophers and different scholars.
2. should be able to develop a strong analytical power to differentiate ethical
and unethical practices.
3. shall have a better understanding of the acts of morality and different
psychological contradictions attached to those actions.
Introduction
➢ Can you analyze an ethical issue in a way that you can justify to
others?
➢ Today we will learn some ways of doing this.
➢ Always remember, Ethical issues and their solutions are not like
solving mathematical problems with a single solution. There could be
multiple right answers.
➢ “Theories of Ethics” are the outcomes of the thinking of different
Philosophers who tried to grapple with the basic question, How do
you know that what you are doing is right???
Philosophical Foundations
Theoretical positions
1. Soul based school
Universal codes possible – Take recourse to spirituality – Vedanta, Hindu,
Christian / catholic scriptures, yoga and meditation
1. Mind based school
Choice and rationality – Inherent goodness of mankind –
Soul a metaphysical construct
Philosophical Foundations
Philosophical Foundations
Theory 1
the universe.
The universe is an exceptionally astonishing unique
combination of physical and non physical elements.
Ethics
conventions, god and spirits are no physical
elements of the universe.
For the better understanding of Meta ethics issues
they are clearly divided into two streams:
Ethics
character principles.
Normative ethics are based on one basic
principle, criteria or golden rule which stands
as a landmark for judging all the human
actions whether they are morally correct or
not.
With the further development in the field of ethical philosophy
the normative ethics were further classified into three parts.
Theory 2
Virtue Duty Theory Consequentialist
Normative
Theory Theory
Ethics Approach
★ Right Theory
★ Kant’s
and
Utilitarianism
★ Jeremy
Approach Bentham’s
★ W.D.Ross’s Utilitarianism
Approach ★ Hobbes Social
Contract Theory
● Applied ethics are that part of moral
philosophy which deals with controversial
Theory 3 issues of the human life.
● These ethics are not the rules of policy matters
Ethics
opinion.
● The media on daily basis also discusses the
current contentious issues related to different
sections of the society, economy, and politics
but all those issues cannot be considered as
applied ethics.
For qualifying the criteria to be considered as applied
Ethics
The second criterion for being an applied ethic is that
the issue has to be moral or related to morality. The
controversial issues related to economy, military
actions, economy etc cannot be considered as
applied ethics unless and until an issue related to
morality of an action is not questioned.
Theory 3 Issues in Applied Ethics
Applied
a) Issues related to environmental ethics
Choosing between the right and personal gain is source for ethical dilemma
in most of the cases.
Ethical dilemmas are faced by the managers at every managerial and functional
level of management.
Ethical dilemmas can be classified into two categories
1. At functional levels of the management, and
2. General ethical dilemmas.
Ethical Dilemmas Faced By The Managers In
An Organization
Analysis of detail.
➔ All the pros and cons of the decision
consequences are considered before making a final
decision.
➔ An in depth analysis of the impact of
decision gives a clear idea to the
manager.
➔ Second step in ethical decision
Step 2
making is analysis of the action.
Analysis
of ➔ This step involves what action is
Probity Respecting
Fairness Leadership
Caring Morality and Accountability
How An Unethical Decision Affects
Stakeholders ?
An unethical decision by the management affects all the stakeholders of the company. The
stakeholder can be internal stakeholders such as employees and investors or external
shareholders like customers, suppliers, dealers, and society.
The unethical decisions made by the management of the company have both direct and
indirect bearing on the stakeholders which is explained as below.
➔ In international business there are two parties first is the host country and
other is the multinational corporation.
➔ Ethical conduct is a mandatory factor for survival and the growth of any
business organisation.
➔ Ethical conduct not the sole responsibility of host country or the
multinational company alone it is a binding on both the parties.
➔ Both the parties have their own perspectives, agenda and interest aligned
to the business venture
Global Dimension of Business Ethics
➔ Philip Kotler defines marketing as “The science and art of exploring, creating and
delivering value to satisfy the needs of a target market at a profit”.
In nutshell it can be said that, “ Marketing is an activity directed towards the supply of
goods or services that have want satisfying capacity, it is focused on generating the
higher sales and revenues thorough exchange process for the goods/services for an
economic value.”
CAVEAT EMPTOR : BUYER, BE AWARE
This was the credo in the early days of capitalism.
7 Ps 1. Product
2. Price
of 3. Promotion
Marketing 4. Place
5. People
6. Process
7. Physical Evidence
Unethical Practices in Marketing
Some business organisations in order to sell their product make false claims through
advertisements and sell the poor quality products at a higher price. By doing this they breach the
trust of customers. Some of the unfair and unethical marketing tactics are explained as follow:
1. Unethical Practices in Marketing Research
2. Manipulating Target Market Audience
3. Unethical practices in Pricing
4. Unethical practices in Advertising and promotion
5. Unethical Marketing practices on Internet
6. Unethical Marketing Strategies
7. Other Miscellaneous Issues in Marketing
Unethical Practices in Marketing
Examples businesses can use similar tactics to influence intermediaries and agents to
give preference to their products. The ethics of such a marketing strategy
of are questionable. Ethical marketing is to provide information so the
customers can make an informed choice.
Questionable
2. Infant Formula
Marketing Infant formula producers such as Nestle marketed their product as a breast milk
replacement in developing countries. Their marketing campaigns told local mothers
Ethics that formula was superior to breast milk and a more modern way of feeding their
babies. They persisted in this campaign despite evidence that breast milk led to
better health outcomes for babies in these countries. Continuing such a campaign
when it hurts the consumer is ethically questionable. If you make claims for your
products, and your customers hurt themselves because they purchased your
products as a result of these claims, your marketing practices are ethically
questionable.
3. Fast Food
Fast food companies specialize in lifestyle marketing and often aim such
ads at teens and younger children.
Many of the ads are digital, and marketing campaigns online via social
Examples media are a favorite channel for reaching these consumers.
It is ethically questionable to aim ads that use marketing techniques other than
of information at audiences that may not have the maturity to treat them skeptically.
Questionable 4. Cosmetics
Marketing In 2011, Wal-Mart rolled out a cosmetics line aimed at girls as young as 9
years old. The marketing campaign targeted both the girls and their
Ethics parents, emphasizing the "environmentally friendly" nature of the eye-liner,
lip gloss and mascara.
Apart from the questionable practice of placing undue emphasis on a child's
appearance, it also is ethically questionable to use a popular movement such as
environmentalism to market a completely unrelated product.
5. Magazine Content
Print magazines operate in a challenging environment where
Examples ad revenue is migrating online while printing and distribution
of costs increase.
Some magazines are responding by skewing their content
Questionable
toward favorable coverage of products sold by desirable
Marketing advertisers and marketing their advertising accordingly.
Human resource of any organization is the backbone of the organization. The success or failure of any
organization largely depends upon the quality of the human resource in the organization. Human resource
management is a continuous long term process.
WHAT IS HUMAN RESOURCE MANAGEMENT ?
Human resource management can be defined as –
“Planning, organizing, directing and controlling of the procurement, development, compensation,
integration, maintenance and separation of human resources to the end that individual, organizational
and social objectives are accomplished.”
-Edwin Filippo.
Functions of HRM
Human resource management is a broad term. It is not just about procurement and placement of
employees it involves series of functions which a human resource manager has to perform. It is not only
about hiring right people but developing them and keeping them for a longer time. It is about welfare of
people working for the organization and maintaining harmonious relationships between management and
employees. Followings are the functions of human resource management.
Human Resource Planning Acquisition Function
How to
voluntary actions the Indian constitutional and regulatory
bodies have also made the provision for curbing the
Overcome unethical practices at workplace. Some of those provisions
How to
7) Fair Remuneration and Wage Policy
8) Standard Working Hours
Overcome 9) Policy of Non-Discrimination
This session deals about the ethical aspect in finance. It discusses in detail about
various unethical and fraudulent practices in finance and their remedial aspects.
After completing this session, you will –
✓ have knowledge about the ethical aspect of finance and core decision making
area of finance.
✓ get a fair idea about significance of ethics from the stake holders perspective
and various types of unethical practices in finance.
✓ have an insight knowledge about the reasons why people behave ethically and
how to overcome such issues.
✓ have awareness about the regulatory provisions and legal protection available
to the investors against unethical practices in finance.
Introduction
Ethics in finance refers categorization of to what is right and what is wrong in the financial policies and the
practices of the organization. There is a history of corporate frauds in India starting from Mundhra Scam the very
first corporate fraud after independence. Haridas Mundhra an industrialist and stockbroker was found guilty of a
financial scam amounting to Rs.125 crore by Justice Changla commission set up by prime minister Pandit
Jawahar Lal Nehru and was sentenced 22years of imprisonment. Since then there had been series of corporate
frauds/scams in India. Hawala scam, Enron, Harshad Mehta, Ketan Pareikh, Satyam fiasco, Commonwealth
scams (2010), 2G spectrum scam, Indian Coal Allocation Scam (2012), Sharda Chit Fund scam (2013) are some
of the most discussed financial scams in India.
In the wake of such unethical practices in financial sectors, observing high ethical standards becomes mandatory
injection for every organization. Ethics in finance refers to practicing the truthful and honest policies in recording
and reporting the financial transactions. It also includes the transparency and complete disclosure of the material
facts in the company’s financial statements and reports.
Finance, Accounting & Ethics
Unethical practices in the finance includes bank frauds, Bribery, Credit card fraud,
Embezzlement, Forger Insider trading Insurance fraud, Investments scheme Larceny/Theft
Money laundering Tax evasions Securities frauds and many more to count.
For the purpose of better understanding the unethical practices in finance can be classified
into four different categories
1. Ethical Issues in Financial Market
2. Ethical Issues in Financial Services
3. Ethical Issues in Financial Reporting
4. Ethical Issues in Employees Conduct
1) Brokerage misguidance 2) Technology frauds
a) Forgery of D-mat shares
b) Scalping
1 c) Pump and Dump
d) Phishing
Ethical 3) Market manipulations
Financial (NBFCs)
1) Incorrect KYC details
2) Incorrect date and stamp
Services 3) Siphoning of funds by intermediaries
4) Incorrect commission
5) Front running
1) Financial Frauds
✓ Unethical practices in preparing
3 accounting records
✓ Misrepresentation or intentional
Ethical omission of amounts
✓ Misapplication of accounting principles
Issues in ✓ Misleading disclosures
2) Misappropriation of Assets and
Financial Liabilities
Reporting ✓ Window Dressing
✓ Non disclosure of sales of proprietary
information
1) Occupational Frauds
-Giving and accepting bribes
-Embezzlement by the employees
4 -Charging commissions for releasing orders ect
2) Management Frauds
Ethical -Insider trading
-Tunneling etc.
Issues in 3) Vendor fraud
Vendor fraud can be classified into three
Employees categories
-Billing Schemes
Conduct -Cheques Tampering Schemes
-Bribery or Extortion Schemes.
4) Customer fraud
✓ As conclusion, we can say that proper ethics and ethical behavior
are extremely important in Finance for a variety of reasons.
✓ To begin with, accountants are often privy to sensitive information
regarding their clients, such as Social Security or bank account
numbers.
✓ This gives accountants a good deal of power in regard to their
clients and it is important that the trust between an accountant
and their clients not be abused.
✓ In the same way it is important that the industry itself does not
become stigmatized as an unethical one, something that could
potentially harm business for all accounting firms.
Business Ethics
Dr. Trilok Sharma
Session-8
Ethics in Finance – Reason of
being Unethical and way of
prevention
Greed and Pressure are two basic reasons
for unethical behavior of a person.
Why People
Behave
Unethically?
Greed refers to a non rational wish to have
more and more of material pleasures.
A person may be greedy by nature or the
opportunities and situations motivate him/her.
Why People On the other hands Pressure is working
Behave
under influence of somebody with a fear of
losing something. Pressure can be referred
1. Vijay Mallya – Rs. 9000 Crore : In 2016, Vijay Mallya absconded the country and sought refuge in the
UK after he was accused of fraud and money laundering in the country. Vijay Mallya allegedly owes various
banks over Rs 9000 crores, which he'd taken as a loan to keep his now defunct Kingfisher airlines from
failing. He was recently declared a fugitive economic offender under the Fugitive Economic Offenders Act.
2. Coalgate Scam – Rs. 1.86 lakh crore: The coal allocation scam or ‘Coalgate’ is a political scandal that
surfaced in 2012 when the UPA government was in power. The scam was brought to notice by the
Comptroller and Auditor General (CAG), when they accused the government of illegally allocating 194 coal
blocks between 2004 and 2009. This was one of the scams that shook the whole nation from its core as
many bureaucrats and politicians were involved in this. Although the CAG initially estimated the loss of over
Rs 10 lakh crore, the final report mentioned the scam amount was Rs 1.86 lakh crore.
3. 2G Spectrum scam – Rs. 1,76,000 crore: In 2008, the government came under scrutiny when it was
alleged that they had undercharged mobile telephone companies for frequency allocation licenses that were
used to create 2G spectrum subscriptions, and at the centre of this controversy was the former Telecom
minister A. Raja himself. The CAG had stated that “the difference between the money collected and that
mandated to be collected was Rs. 1.76 trillion.” (Rs. 1,76,000 crore) In 2012, the spectrum was declared as
“unconstitutional and arbitrary” by the Supreme Court and led to the cancellation of over 120 licenses.
9 of the biggest financial scams in India
From Vijay Mallya to Nirav Modi, all the big names are involved
4. Commonwealth Games scam – Rs. 70,000 crore: In 2010, the Commonwealth Games held in India made
more headlines for the controversies and corruption it was involved in than the games itself. The whole event
was marred with accusations of criminal conspiracy, cheating and forgery and the chairman of Common
Wealth Games 2010 Suresh Kalmadi was accused of corruption and malpractices. It was also reported that
the Indian athletes were forced to stay in terrible conditions instead of the accommodation allotted to them by
the authorities.
5. BOFORS scandal – Rs. 64 Crore
This is a major weapons-contract scandal that took place between India and Sweden during the 1980s and
90s. In 1986, India reportedly signed a deal worth Rs 1437 crore (approx) with the Swedish arms manufacturer
Bofors AB, to supply their 155mm field howitzer to the Indian Army. Many politicians including the then PM
Rajiv Gandhi were accused of receiving bribes or “kickbacks” worth over Rs. 64 crores for the deal. In today’s
time, the Bofors scam is estimated to be around Rs. 400 crore.
6. Nirav Modi PNB Bank fraud – Rs. 11,400 Crore
Diamonds are a man or woman’s best friend, but diamantaires like Nirav Modi are not. One of the most
controversial scams, this fraud reportedly took place through Punjab National bank’s Brady house brand. Not
just Nirav Modi, his uncle Mehul Choksi and two senior PNB officials were also involved in this fraud. In 2018,
PNB filed a case with CBI accusing Nirav Modi and the companies he was connected to of obtaining Letters of
Undertaking (LoUs) from PNB without paying up the margin amount against loans. This meant that if those
companies failed to pay the loan, PNB would have had to pay the amount.
9 of the biggest financial scams in India
From Vijay Mallya to Nirav Modi, all the big names are involved
Ethics in Intellectual property rights refers to application of honest, transparent and morally
correct policies and practices in creating products or process. It refers to the righteous
approach to the research and development process.
Ethics become enormously significant when the IPRs are related to clinical studies,
Ethical conduct is a universally expected behavior in
all the walks of life.
Ethical conduct in intellectual property rights is a
much desirous conduct as it not only affects human
life but also has impact on animals and all the other
are
grounds but there are many other aspects related to
it.
The significance of the ethical conduct in Intellectual
Significant property rights (IPRs) can be explained from following
perspectives
in IPRs ? 1 Consumers perspective
2 Environmental perspective
3 Competition perspective
4 Employees perspective
5 Legal prospective
6 Long run perspective
1) PATENTS
a) Patent infringement
b) Gene patenting
2) Industrial Design
Unethical a) Irresponsible product designs
b) Hazardous manufactured goods
IPRs
3) Trademark/Service mark
4) Copy rights
5) Semiconductor and Integrated Circuits
6) Trade secrets
7) Protection of plant varieties and breeding rights
8) Geographical Indications (GI)
1. Patents
Legal 2. Industrial Designs
Protection 3. Trade Mark/Service Mark
1) Patents
✓ Patent Act, 1970 governed patents in India which was amended in the year
2003, 2005, 2006, 2012, 2013, 2014 so that the international standards
and norms can be fulfilled.
✓ After making many remarkable adjustments and by introducing new changes
now patents in India are ruled and governed by Patent Amendment Rule,
2016. The Office of the Controller General of Patents, Designs & Trade Marks
(CGPDTM) administers the patents in India. CGPDTM is a subordinate office of
the Government of India’s subordinate office.
✓ The headquarters of patent office is in Kolkata with branches in Delhi,
Mumbai and Chennai.
✓ The duration of patent is 20 years in India for both product and process
patents.
LEGAL PROTECTION AGAINST UNETHICAL PRACTICES IN IPRs
2) Industrial designs
✓ Protection to industrial designs in India can be traced back from the 18th and
19th century i.e. the period of British rule in India.
✓ With the changing international trade scenario and requirements the legislation
for industrial designs kept changing from time to time.
✓ Following dig. number reveals the evolution of industry designs in India.
✓ Currently the industrial designs are protected by the design rules, 2001.
✓ The legislation provides a protection shield to the registered industrial design
holders against the frauds.
✓ The regulation also aims at encouraging innovations in the industry. It covers
both product and process of designing.
✓ The term of designing is 10 years which can be extended maximum up to 15
years from the date of registration.
LEGAL PROTECTION AGAINST UNETHICAL PRACTICES IN IPRs
3) Trademark/Service mark
✓ The Trade mark and service mark in India are regulated and governed by Trade
Mark Amendment Act, 2010.
✓ Being a member of World Trade Organization (WTO) India has obligation
towards trademark under Trade Related Intellectual Property Rights (TRIPS).
✓ Infringement of trademarks/service mark is a cognizable offence and both civil
and criminal proceedings can be initiated against the offenders.
✓ Section 135 of Trade Mark Amendment Act, 2010.deals with the infringement
of trademark and passing off action.
✓ In the case of criminal action of infringement imprisonment from 6 months to
maximum up to 3 years and /or a penalty varying from Rs.50K up to Rs.2 lakh,
maximum or both can be imposed on the offender.
✓ The period of trade mark/service mark is valid for 10 years from the date of
application and must be renewed before six month of expiry date.
✓ The motive behind empowering trademark legislations in India is to secure the
LEGAL PROTECTION AGAINST UNETHICAL PRACTICES IN IPRs
4. Copy Rights
✓ The copy right issues in India were governed by Copyright Act,
1957.
✓ With the globally changing scenario and timely need for up
gradation the laws for copy rights have changed five times since
its inception.
✓ The copyright regulations have undergone legislative surgery in
the years 1983,1984,1992,1994 and 1999.
✓ India under obligation of compliance with the international laws
advocated by WTO and TRIPS has made its copyright laws
compatible with World Intellectual Property Organization (WIPO)
and introduced a new amendment in the legislature.
LEGAL PROTECTION AGAINST UNETHICAL PRACTICES IN IPRs
4. Copy Rights
✓ Now the copyrights in India are governed by Copyright Amendment Bill,
2012.
✓ The new Copyright Amendment Bill, 2012 is compatible and compliant
with international internet treaty as well. It further has two components
i.e.
WIPO Copyright Treaty (WCT)
WIPO Performance and Phonograms Treaty (WPPT)
✓ The Copyright Amendment Bill, 2012 provides protection to the
copyright holders under different categories such as
Works of arts – audio, video and cinematography.
Authors – Writers, Poets etc.
Protection from internet piracy.
LEGAL PROTECTION AGAINST UNETHICAL PRACTICES IN IPRs
5. Layout for Semiconductor and Integrated Circuits (IC)
✓ The layout for industrial designs and circuits are protected by Integrated Circuits
Layout Design (SICLD) Act, 2000 in India.
✓ The framework of a semiconductor integrated circuit refers to a combination of
transistor architecture and other circuit elements which includes lead wires.
✓ These lead wires are inseparably associated and electrically interconnected for in
any form. The SICDL Act, 2000 is sui generis in nature and aims at protecting the
IPR rights of a registered semiconductor integrated circuits designs holder.
✓ The duration of a semiconductor IC is 10 years from the date of filing the application
for registration.
✓ The infringement of IPR rights of a registered holder is a criminal offence and is
subject to imprisonment up to 3years or a monitory penalty of minimum Rs.50, 000
which can be extended up till Rs.10 lacks or both.
✓ For resolving the grievances the registered IPR holder can appeal to Layout Design
Appellate Board (LDAB) or Intellectual Property Appellate Board (IPAB) which has its
office in Chennai.
LEGAL PROTECTION AGAINST UNETHICAL PRACTICES IN IPRs
6. Plant Variety & Breeding Rights
✓ The Protection of Plant Varieties and Farmer’s Rights Act, 2001 (PPV&FR Act, 2001)
protects the farmers, plant breeders and researchers intellectual property rights in
India.
✓ The legislation has exclusive provisions farmers, breeders and researchers who
invent or discovers the new plant variety which gives them an exclusive right for
using, saving, sowing or re-sowing, exchanging selling or exporting their farm
products including seeds.
✓ Registered IPR holders get protection from the fraudulent practices. An annual fee is
required to keep the registration valid.
✓ The duration of this exclusive protection IPR right under PPV&FR Act, 2001 differs
according to the nature of plant variety such as for
Field crops – 15 years
Trees and Vines – 18 years
Notified Varieties – 15 years from the date of notification.
LEGAL PROTECTION AGAINST UNETHICAL PRACTICES IN IPRs
6. Plant Variety & Breeding Rights
✓ Infringement of a registered IPR holders rights is a criminal offence
and subject to imprisonment of minimum 6 months which can be
extended up to maximum 3 years or a penalty of minimum Rs.2
lacks and maximum up to 20 lacks or both.
✓ Depending upon the gravity of the offence and provisions laid
down in the Protection of Plant Varieties and Farmer’s Rights Act,
2001.
✓ For handling the grievances of the registered IPR holders i.e.
farmers, researchers and plant breeders there is a provision of
Plant Variety Protection Appellate Tribunal which exercises the
jurisdiction, powers and authority conferred on it by the PPV and
FR Act, 2001.
LEGAL PROTECTION AGAINST UNETHICAL PRACTICES IN IPRs
7. Geographical Indications (GI)
✓ Geographical indications gives a distinct identity to the product that ensures the
authenticity of the product related to its geographical origin (place, region or a
country) and the basic characteristics related to that geographical area.
✓ The geographical indications in India are subject to registration and are protected by,
The Geographical Indications of Goods (Registration and Protection) Act, 1999.
✓ The act provides the highest level of protection to the IPR rights of a geographical
indicator holder.
✓ In the past there had been several contentious cases related to the IPR in
geographical indication such as Basmati rice, Darjeeling tea, Nagpur Orange,
Alphanso mango and many more.
✓ Infringement of GI in India is an criminal offence and the offender may be sentenced
an imprisonment for a term between six months to three years and a fine between
Rs. 50K to Rs. 2 lakhs .
✓ With the changing global scenario and the terms of trade international regulations are
also changing at a rapid pace.
LEGAL PROTECTION AGAINST UNETHICAL PRACTICES IN IPRs
7. Geographical Indications (GI)
✓ India being part of the different trade blocks and organizations at
international level is bound to have certain voluntary and some statutory
obligations towards them.
✓ Here the fine line comes between the compatibility and compliance with the
international trading fraternity regulations and protecting the rights and
interest of native traders of the country.
✓ The legal and regulatory framework of India aims at nurturing and protecting
the Intellectual Property Rights IPRs .The constant effort of the legislative
and regulatory authorities is towards maintaining the balance between these
two ends and moving forward towards the peace, progress and prosperity at
large.
✓ Any illegal or unethical conduct is condemned and there are adequate
provision for legal proceedings, the offenders has to face the nemesis of the
unethical act.
Business Ethics
Dr. Trilok Sharma
Session-11
Challenges in the Field of
Business Ethics in 21st Centuary
Learning Objective
The Session puts light on the emerging issues in the field of
business ethics.
After completing the session, you-
✓ will have a fair idea of corporate culture.
✓ will be able to identify the reasons behind the unethical
behavior of the people.
✓ will also understand the emerging issues and challenges in
front of managers in implementing ethical policies.
The Session further develops a good understanding of recent
trends in the business ethics.
You will be empowered not only with the theoretical aspects
explained but the practical and rational solutions to the ethical
issues.
INTRODUCTION
➢ The world is changing at a rapid pace, due to revolutionary advancement
in information technology, communication and transportation the entire
world has become a single market.
➢ The organization structures have also gone through metamorphic
changes.
➢ Business in 21st century is about creativity, quality, knowledge,
excellence, and public relations.
➢ In this rapidly changing modern business environment the managers
have to encounter more complex issues as compared to the traditional
business setups of yesteryears.
➢ The managers in the 21st century not only face challenges on the front of
domestic competition, but they also have to tackle the international
pressures reason being the international competition, international
standards & regulation and multicultural environment endorsed by
multinational corporations (MNCs).
CONCEPT of CORPORATE CULTURE
Ethics employees
➢ It increases the overall productivity in the
organization.
➢ It reduces the employee turnover ratio.
➢ Helps the organization to fulfill its duty towards
society and the nation.
➢ It helps in optimum utilization of available
resources.
➢ It reduces various intrinsic and extrinsic
costs involved in procurement and
disbursement of various financial and non
Corporate
financial resources.
➢ It provides competitive edge to the
organization.
Culture & ➢ It helps in value creation and share holders
wealth maximization.
Business ➢ It fetches goodwill in the long run.
➢ It facilitates growth to the organization.
Reasons for
ethical, professional, emotional, rational, criminal or unethical and
every type of behavior is associated with the different types of
personality traits.
Unethical
Unethical behavior of a person may be an outcome of a unique
personality trait of that person or it may be out of the past experience
and learning or group influence. Some of the reasons for unethical
in 2. Lack of Patience
3. Poor Check and Control Mechanism
Implementin
multinational corporation having their subsidiaries in almost all
the countries.
This multinational corporate culture has come with many socio -
g Ethics in
economic and cultural changes and challenges described as
below:-
1. Three faced competition
Front of
2. Socio- Cultural Issues
3. Demographic Factors
4. Political Pressure
The
1. Well Defined Policies
2. Reward and Motivation
3. Spirit – De – Corps
Emerging
With the changing times corporate world realized the
significance and the direct linking between ethics
and long term profitability.
Trends in The business has reached far ahead of the concept
of profitability and welfare now the trend has
Trends in
6. Social Media Tools
7. International Ethical Norms
Business 8. Transparency
9. Higher Living Standards
• Migrant workers
• Responsibility not only towards its citizens, but people stuck abroad and its
diaspora
Freedom of Movement
• International boarders being closed
• Accountability
• Role of Media
• Role of citizens
Issues in scientific research
• Clinical trials
• Vaccines
• Treatment Avenues
Exemplary…….
• Merck & Co developed a cure for river blindness (an
eye and skin disease caused by a worm). Cost of
development was $ 100 million. Market existed only in
poor countries, where people could not afford it.
Greater good outweighed profits & it gave the
medicine free.
• WIPRO converted its 4,00,000 sq ft office space in Pune into quarantine facilities within
one week asking all employees to work from home.
• Tata group has announced that no employees of the group (including contract
workers) will be layed-off during the COVID crisis.
• Many small companies / businesses are keeping all employees on the payroll, perhaps
with reduced salaries / wages.
Why Should One Be Ethical?
……… A Rhetorical Question
• Great sacrifice – Never sit on throne, never marry & have children
(Bhishma Pratigya)