Individual Ethics Affects Business Ethics

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NewZNew (Chandigarh) : CII-ITC Centre of Excellence for Sustainable Development kicked off its 1st Road-show on Promotion and Adoption of Responsible Business Practices by Corporates in India at Taj Chandigarh, here today.

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Delivering the opening remark at the Road-show, Mr Amarbir Singh, Chairman, CII Chandigarh Council stated that “Individual ethics affects business ethics, business ethics impacts corporate governance and that spills over to the economy”. He added that India has made leaps and bounds in progress in manufacturing and services; companies maintain world-class standards for product deliveries and we are competing in the global market, however we still have a hindrance, i.e. corruption. Mr Singh also quoted Late Dr Abdul Kalam, Former President of India, who said – “If a country is to be corruption free and become a nation of beautiful minds, I strongly feel there are three societal members who can make a difference. They are the Father, the Mother and the Teacher.”

On behalf of CII, Mr Deepak Juneja, welcomed all the participants and introduced them to the CII-ITC Centre of Excellence for Sustainable Development, outlining its history and how it evolved from the Environment Management Division to the Centre of Excellence for Sustainability.

Initiating the technical session, Mr. Shikhar Jain, Principal Counsellor, CII-ITC Centre of Excellence for Sustainable Development gave the Project introduction of Promotion and Adoption of Responsible Business Practices by Corporates in India. Presenting the Indian scenario, he also outlined the project outcomes. Subsequent to this, Mr Jain made a presentation on Corporate Governance, Value & Ethics, talking in detail about Corporate Governance. This was followed by an interactive session, involving the participants. He also presented a case study. The Road show was concluded with a group session i.e. Consultation on Solutions and Way-forward along with the participants.

The takeaway from the Road Show for the participants was that ethics, corporate values and corporate governance must be on top of the agenda of every company, large and small, and not when companies face a crisis. It is important to remember that culture cannot be changed in a fortnight or even in a few months; it is a long term journey. Corporate Culture has to be challenged regularly to make it a lively reality.

Over 25 participants representing diverse industries, such as healthcare, hospitality, engineering, manufacturing, trading, power, infrastructure and institutions such as Chartered Accountants Institute and representatives of Technological and Educational institutes attended the road-show.