INDIAN ETHOS AND VALUES

‘Global Village’-Coined by Marshall Mc Luhan Globalization of Economy

1. Migration2. Cultural exposure3. Change in value perceptions

Connected world, not isolated Quick modes of travel and instant means of

communication Markets, people and ideas linked together

GLOBALIZATION

Mr. N.R.Narayan Murthy:1. Cheapest source of funds2. Economic production3. Most profitable markets

Borderless business or Business without borders

Liberalization of business activity Economic reform Competition or market-driven economy Moving towards a world economic order Dominance of MNCs

Increased Bilateral and Multilateral trade agreements

Increased international trade-exports/imports

FDI Role of Bretton Woods Institution- IMF and

World Bank In a single generation

1. Unparalleled prosperity2. Increasing poverty3. Rapid spread of diseases(such as AIDS)4. Ecological degradation

Unethical exploitation of resources Lop-sided development Corporate ethics influenced by profit motive Accounting scandals such as at Enron, World.com

of USA Widening gap between the rich and the poor

countries Overriding concern for profit

Ethical issues related to globalization

Emphasizes genuine global economic equality

Shared responsibilities for global problems Inclusive growth Sustainable development Acknowledging dignity of the human being Must be connected by shared values

SOLUTION:ETHICAL GLOBALISATION

Holistic approach Concerns the whole rather than the parts Greater common good or social welfare Bourgeois and proletariat or the working

class-class struggle Universal brotherhood Social justice

MANAGERIAL DECISION- MAKING

Marxist theory: state =coercive power=class rule

Fall of Soviet Union on August 19,1991

Spiritual values or spirituality Values are the spiritual aspect of life It is not religion Looking beyond self Being compassionate Being empathetic

Sharing ,caring, giving and nurturing Brings change in self and others

Spirituality and transformational leadership

Spiritual input improves morale Spirituality creates meaning in the work

place Leads to a sense of belongingness Guides organizational transformation

Value –driven management Unquestionable integrity Ethical values Social responsibility Creates a good man, a good manager Influences quality of life

Spirituality and work

Emphasis on material welfare Respect for truth Recognizes pluralism“India is not a secular state” Not a theocracy No state religion All religions are equal

Secularism-main features

Science enlightens Tells how things are in reality Provides knowledge

Human values: Tells us how things ought to be What should be happening What is right and wrong B schools educate students in business

ethics An antidote for inward loneliness

Science and human values