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Business firms urged to follow ethics

Staff Reporter



Deserving honour: Prof Krishnamacharyulu being felicitated by Vice-Chancellor C. Ratnam during the international conference in Tirupati on Friday.

TIRUPATI: Secretary to the State Government Phani Kumar on Friday said that ethics should be an integral part of an organisation’s business policy and not as charity.

Delivering the presidential address at an international seminar on ‘Organisational Ethics’ organised by the Department of Management Studies of Sri Venkateswara University at the SVU Srinivasa auditorium here, he said the bottom line was that a business unit should be run with an eye on profits, but not in a manner that could be viewed as unbecoming of a firm as such incidents could badly affect its image.

Merck episode

Citing ethical business, he explained how the pharmaceutical giant Merck went ahead with its production of drugs to treat a peculiar disease prevalent in the African and Latin American markets, knowing fully well that the poor purchasing power in these continents could leave it with little or nil profits. Similarly, he referred to the Enron episode while explaining the unethical part of business.

Mukund Raj, a Chicago-based consultant for several Fortune 500 companies spoke on corporate social responsibility and explained how it was part of an organisation’s ethics. “India being home for great epics that preached ethics, such an attitude should be part of our business decisions,” Mr. Mukund Raj noted.

The meet culminated with the felicitation of the head of the department C.S.G. Krishnamacharyulu on his attainment of superannuation. Vice-Chancellor C. Ratnam honoured him with a shawl and a citation, while the professor’s colleagues, research scholars and students too vied to felicitate him. Former Vice-Chancellor P.Murali also took part.

Valedictory

In the evening, V. Sraman, Joint Director-General of Foreign Trade (Hyderabad) delivered the valedictory address, while Registrar Y. Venkatrami Reddy presided.

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