BAD GOVERNANCE AND BUSINESS VIOLENCE: AN INDIAN OUTLOOK

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Abstract

Corporations being powerful institutions must be more accountable for their business policies and practices as their activities, for better or worse, have a significant impact on individuals, whole communities and society at large. But unfortunately, Capitalism at the beginning of the 21st century with overemphasis on economic performance has evolved the rule of unproductive economic activities, exploitation of customers, illegal monopolies, political patronage and personal gains. The observed inconsistency between the role and rule of business, being detrimental to the society has raised a concern about implementing business governance that would integrate value framework, ethical framework and moral framework under which business decisions are taken. To comply with the moral standards for optimizing the outcome for directly negotiating parties the corporate need to adopt a dual goal concept: a strategic goal and moral goal. An ideal situation is possible once the ethical perspectives of a business is internalised through value-based negotiations and exchanges at all levels, social, political and symbolic; hence broad objective of this paper is to put forward some guiding principle for the business firms to evolve responsible behaviour and avoid bad governance and business related violence.

Keywords: Business Ethics, Business Violence, Corporate Governance, India

How to cite this paper: Dash, A. (2009). Bad governance and business violence: An Indian outlook. Corporate Ownership & Control, 6(4-1), 193-200. https://doi.org/10.22495/cocv6i4c1p3