Business Ethics and Corporate Governance, Second Edition

CORPORATE GOVERNANCE ETHICS

Though the concept of corporate governance may sound a novelty in the Indian business context and may be linked to the era of liberalization, it should not be ignored that the ancient Indian texts are the true originators of good business governance as one important sloka from the Rigveda says, ‘A businessman should benefit from business like a honey-bee which suckles honey from the flower without affecting its charm and beauty.’²²

Business ethics and corporate governance of an organization go hand in hand. In fact, an organization that follows ethical practices in all its activities will, in all probability, follow best corporate governance practices as well.

The Phoenix School of Management²³ defines corporate governance ...