Business Ethics and Corporate Governance, Second Edition

INTRODUCTION

We live in an age in which companies have grown so large that they control much of the earth’s resources, and intervene in so many areas of social life, that they must be held responsible towards society and the environment. In India, as in the rest of the world, there is a growing awareness that capital markets and corporations are, after all, created by society and must therefore serve it, not merely profit from it. In the age of globalization, corporations and other business enterprises are no longer confined to the traditional boundaries of the Nation-State. One of the key characteristics of globalization is the spread of the market and the change in the mode of production—the centralized mode has given way to a highly decentralized ...