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Ethics and values in Indian economy and business

Author

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  • P. Kanagasabapathi

Abstract

Purpose - This paper seeks to give an idea about the role of ethics and values in the Indian economy and business in ancient times and the changed nature of these factors in the contemporary period. Design/methodology/approach - Books and writings from ancient times are used for discussions related to the earlier periods. Studies by the author and other scholars are used to analyze the contemporary situation. Findings - Ethics and values have guided the Indian economy and business since ancient times. With the large‐scale destruction of the native systems in the eighteenth century, and the failure to recognize and revive them after independence, ethics and noble values ceased to guide the economic and business systems. At the local business and society levels, higher human qualities such as help, faith‐based business transactions and basic norms are present even today, especially at the non‐corporate level. Research limitations/implications - This paper does not discuss different aspects of ethics and values in detail. For contemporary times, it takes up only a few higher human values such as help, faith and broad‐based norms in business promotion and transactions. Practical implications - It highlights the contribution of higher human values such as help, faith and unwritten norms to the business and economy of contemporary India. Originality/value - It presents that, even in contemporary times, higher values such as help, goodwill and faith‐based transactions help in the economic and business development of India.

Suggested Citation

  • P. Kanagasabapathi, 2007. "Ethics and values in Indian economy and business," International Journal of Social Economics, Emerald Group Publishing Limited, vol. 34(9), pages 577-585, August.
    • Handle: RePEc:eme:ijsepp:v:34:y:2007:i:9:p:577-585
    DOI: 10.1108/03068290710778606
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    Citations

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    Cited by:

    1. Geeta Rana & Renu Rastogi & Pooja Garg, 2016. "Work Values and Its Impact on Managerial Effectiveness: A Relationship Study in Indian Context," Vision, , vol. 20(4), pages 300-311, December.
    2. Taran Patel & Anja Schaefer, 2009. "Making Sense of the Diversity of Ethical Decision Making in Business: An Illustration of the Indian Context," Journal of Business Ethics, Springer, vol. 90(2), pages 171-186, December.
    3. James J. Cordeiro & Ambra Galeazzo & Tara Shankar Shaw & Rajaram Veliyath & M. K. Nandakumar, 2018. "Ownership influences on corporate social responsibility in the Indian context," Asia Pacific Journal of Management, Springer, vol. 35(4), pages 1107-1136, December.
    4. Tanusree Jain & Ruth V. Aguilera & Dima Jamali, 2017. "Corporate Stakeholder Orientation in an Emerging Country Context: A Longitudinal Cross Industry Analysis," Journal of Business Ethics, Springer, vol. 143(4), pages 701-719, July.
    5. Arindam Das & Dimple Grover, 2022. "Ethical climates in South Asian Organizations: empirical findings from India," SN Business & Economics, Springer, vol. 2(6), pages 1-26, June.

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