Asian Journal of Research in Business Economics and Management
Year : 2015, Volume : 5, Issue : 12
First page : ( 67) Last page : ( 73)
Online ISSN : 2249-7307.
Article DOI : 10.5958/2249-7307.2015.00203.0

Ethical Governance and Ethical Consciousness-A Strategic Tool for Organizational Sustainability and Development

Biswas Wendrila

Assistant Professor, School of Management & Social Science, Haldia Institute of Technology, Haldia

Online published on 5 December, 2015.

Abstract

Organizations are managed by policies, guidelines and systems. Definitely there is a legal compliance mechanism to check the organizational activities. But it is the ethical standards within such dynamic instruments like policies and guidelines that help employees and organization as a whole to adhere to ethical demands as a part of all its activities and help manage and internalize its roles and operations. Here the role of ethical governance comes up. Ethical governance is the most important issue in the business world. It has gained tremendous importance in the recent past. Monitoring ethical standards have been in focus at every phase. Ethical consciousness is an essential part of ethical governance. It is essential for an employee to realize the virtues in governance and to become responsible and take up responsibility and understand the core values and principle of ethical business practice. The paper seeks to explore the systematic link between ethical governance and organizational development. The relationship between ethical consciousness, ethical governance and organizational sustainability is spontaneously highlighted. Thus the paper tried to bring forth that ethical governance is more than regulatory compliance. It is a principle centered corporate guideline that is value based.

Top

Keywords

Ethical governance, virtues, compliance mechanism, ethical consciousness, sustainability.

Top