Business Ethics and The Bhagavad Gita: Cost of Unethical Acts: Directions of the Dharmatman for Ethical Leadership (Management, Change, Strategy and Positive Leadership)

The author of this book asserts that an absence of ethical leadership and unethical practices were the reasons for major global business scandals such as Enron, Satyam, Lehman Brothers, and WorldCom. This book analyses the causes for these unethical activities and interprets important verses from __The Bhagavad Gita__ to show business executives and leaders how to lead ethically for the greater good of all stakeholders and society. As a remedy to avoid future scandals, the author points to several ethical directions, and the principle of __Dharma__, mentioned in __The____Bhagavad Gita__ by Lord Krishna, a major deity in Hinduism, who is considered __Dharmātman__ (one who imbibes the Dharma). Written in conversation style using an executive education scenario, this book examines real world cases in various sectors like education, medical, non-government organizations (NGOs) and retail using the directions of the __Dharmātman__. Preface 7 Acknowledgements 9 Non-English Words and Their Meanings and Names from the Mahabharat Used in This Book 11 Contents 13 Chapter 1: Business Ethics: An Introduction 14 What Is Ethics? 16 Soul, Atman and Dharmatman 17 What Is Business Ethics? 20 Business Dharma 20 Scope of Business Ethics 21 Business Ethics and Business Sustainability 21 Virtues of Dharma 22 Standards of Business Ethics 22 Ethical Issues in Global Business 23 Conclusion 25 References 26 Chapter 2: Greed and Family Attachment 28 Mr. Ram and Friends, Now I Explain the Third Side of My Face 31 Why Are People Greedy? 32 Greed: Good vs Bad 32 Ambition and Greed 34 Greed Is the Embodiment of Selfishness and Badness. 35 How Did Greed Blow Up in the Corporate World? 36 Greed Led to Collapse? 37 Greed, Recession and Environmental Damage 38 Greed and Psychology 38 Can Greedy People Be Self-Actualised? 39 Greed and Truth 43 Satyam Computers Limited Case and Greed (as Reported in the Media by Investigating Agencies) 44 Background 45 Problem in Perspiration 46 References 58 Chapter 3: Trustees or Tricksters 59 The Enron Scandal 62 Downgrade of Credit Rating 64 Failed Buyout by Dynegy 64 Bankruptcy 64 Charges and Punishment 64 Performance-Based Compensation 66 Unsafe Guardians/Auditors 67 Why Did They Fail to Act as Trustees? 74 Dr. Mallya and Kingfisher 79 Tyco International 82 JP Morgan Chase & Company 83 References 85 Chapter 4: Mission vs. Actions 88 Nestlé Corporation 92 Exploitation of Water 95 Other Food Safety Issues 95 Other Unethical Issues 96 Dick Smith 97 Schlecker’s Drug Store: Exploitation of Labour and the Mission of the Company 99 The Volkswagen Emissions Case 101 Chevron Corporation 102 Halliburton 103 McDonald’s 104 McDonald’s Products and Human Health 104 WorldCom 105 Losses to WorldCom 107 Lehman Brothers Holdings Inc. 108 Accounting Scandals 109 Deloitte & Touche 112 Ernst & Young 112 KPMG 113 PricewaterhouseCoopers 113 Dharmatman Lord Sri Krishna 114 References 117 Chapter 5: Dualism in Human Capital Formation 123 Higher Educational Institutions 123 Globalisation and Privatisation 128 Political Initiatives and Emergence of Private Universities 129 Possible Money-Minting Strategies in Higher Education 129 Private Educational Institutions in India 129 Private and Deemed Universities in India 130 UGC Conducts Spot Inspections 132 Public Universities and Their Private Affiliated Colleges 132 Private Medical Educational Institutions in India 133 Engineering Education in India 135 Management Education in India 137 Fake Universities and Educational Institutions in India 141 Regulatory Bodies in India 142 Research Guidance 143 Vyapam Scam in Madhya Pradesh State 143 Are Universities Forced to Take Diversion from the Basic Purpose? 145 Advanced Countries and International Education 146 Agents and International Students 146 Admissions in the USA: Meritocracy to Aristocracy? 147 Private Academic Institutions in the USA 147 Trends in Student Strength in For-Profit Colleges in the USA 149 Public University Acquiring the Characters of a Profit-Making University 151 Australia 152 Private Universities in the UK 152 Private Universities in African Countries 153 Other Countries 153 Degree Mills/Fake/Unrecognised Educational Institutions and Fake Accreditations 154 Sexually Transmitted Grades and Cash-Generated Grades 155 Corruption in Quality Assurance 156 Bibliography 158 References 158 Chapter 6: Human Consideration vs. Business Orientation 162 Issues of Doctors and Hospitals in India 165 Abnormal Pricing of Services in Private Hospitals and Absence of Regulations 166 Financial Targets for Doctors in Private Hospitals 167 Second Opinion 168 Clinical Trials 168 Issues of National Rural Health Mission, Uttar Pradesh, India 170 Unethical Cesarean Surgeries in Srikakulam District, Andhra Pradesh State, India 170 Issues of Doctors and Hospitals in Other Countries 171 Unethical Medical Cases in Malaysia 171 Unethical Practices in Advertisements in the USA 172 Unethical Practices in Greece 172 Unethical Practices in Croatia 173 Unethical Practices in Lithuania 173 Unethical Practices in Hungary 174 Unethical Practices in Poland 174 Unethical Practices in Romania 174 Unethical Practices in Bulgaria 175 Issues of Ethics in Pharmaceutical Companies 176 Influencing Doctors Through Gifts 176 Pharmaceutical-Industry-Sponsored Continuing Medical Education 177 Ghostwriting in Medical Journals 177 Pharmaceutical-Industry-Sponsored Research 178 Price Hike by Pharmaceutical Companies in the USA 179 Valeant’s Strategy 180 Evergreening 181 Lawsuits Against Pharmaceutical Companies 181 GlaxoSmithKline (GSK) 182 Sale for Unapproved Uses 182 Unethical Clinical Trials in Argentina 183 Staff Harassment and Bullying 183 Big Pharma and the USA 184 Unethical Practices by Doctors, Hospitals and Pharmaceutical Companies and the Bhagavad Gita 185 Conclusion 186 References 187 Chapter 7: Ethical Dichotomy 191 NGOs and Good Work 198 NGOs and Another Side of the Story 200 Tricks to Attract Funds 201 Accountability Issues 202 Failures in Corporate Governance 202 Corporate Misconduct/Misuse of Resources 203 Collaboration in Corruption Between Government and NGOs 204 Government Funding and Corruption in NGOs 204 Funds Diversion 205 Goal Conflicts and Corruption 205 Briefcase NGOs 206 Fragmenting Local Systems 206 NGOs as Donor Government Agencies 206 Theft 207 Sexual Harassment 207 Corruption and Humanitarian Aid: Ethical Dichotomy 210 References 212 Chapter 8: Humanitarianism vs. Market Power 215 Retail Trade in India 220 Retail Trade in the USA 221 Walmart 222 Bribes for Obtaining Permissions in Foreign Countries 222 Issues in Store Locations 223 Discrimination Against Women Employees 225 Working Conditions 225 Health Insurance 226 Labour Relations Issues 227 Labour Conditions in Walmart’s Vendor Organisations 227 Staff Size vs Sales Volume 227 Competition to Walmart 228 Starbucks and Ethical Issues 228 Ethical Companies 229 Costco Wholesale Corporation 229 Other Examples of Ethical Practices 230 Conclusion 231 References 232 Chapter 9: Need of the Hour: Ethical Leadership 235 Greed and Family Attachment 236 Trustees or Tricksters 238 Mission vs. Actions 239 Nestlé 239 Other Cases 240 Dualism in Human Capital Formation 241 Human Consideration vs. Business Orientation 243 Ethical Dichotomy 245 Humanitarianism vs. Market Power 247 Need of the Hour: Ethical leadership 249 Ethical Economics 251 References 251 Index 252 The author of this book asserts that an absence of ethical leadership and unethical practices were the reasons for major global business scandals such as Enron, Satyam, Lehman Brothers, and WorldCom. This book analyses the causes for these unethical activities and interprets important verses from The Bhagavad Gita to show business executives and leaders how to lead ethically for the greater good of all stakeholders and society. As a remedy to avoid future scandals, the author points to several ethical directions, and the principle of Dharma , mentioned in The Bhagavad Gita by Lord Krishna, a major deity in Hinduism, who is considered Dharmātman (one who imbibes the Dharma). Written in conversation style using an executive education scenario, this book examines real world cases in various sectors like education, medical, non-government organizations (NGOs) and retail using the directions of the Dharmātman . Front Matter ....Pages i-xiii Business Ethics: An Introduction (Subba Rao Pulapa)....Pages 1-14 Greed and Family Attachment (Subba Rao Pulapa)....Pages 15-45 Trustees or Tricksters (Subba Rao Pulapa)....Pages 47-75 Mission vs. Actions (Subba Rao Pulapa)....Pages 77-111 Dualism in Human Capital Formation (Subba Rao Pulapa)....Pages 113-151 Human Consideration vs. Business Orientation (Subba Rao Pulapa)....Pages 153-181 Ethical Dichotomy (Subba Rao Pulapa)....Pages 183-206 Humanitarianism vs. Market Power (Subba Rao Pulapa)....Pages 207-226 Need of the Hour: Ethical Leadership (Subba Rao Pulapa)....Pages 227-243 Back Matter ....Pages 245-253