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Corporate Ethics & Governance in an Inclusive Growth Framework

Indian Journal of Industrial Relations

Volume 46 Issue 4

Published: 2011
Author(s) Name: N.Balasubramanian
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Abstract

Inclusivity connotes active participation of the largest number of people in the creation and sharing of wealth and prosperity to the greatest equitable benefit of all. Such wellbeing and happiness are dependent upon the adequate and timely production and delivery of goods and services at affordable prices; this role is assigned by society to firms and individuals to efficiently produce and effectively distribute to the concerned segments of buyers in need. Thus licensed and sanctioned by society, business – especially in the corporate format - has its purpose well set out. Failure to align corporate initiatives with the inclusivity objectives of the state will likely lead to impairment and erosion of corporate freedom of choice to govern itself. This paper explores how business should and could align achievement of its profit-oriented objectives alongside satisfactorily addressing the ever changing societal requirements so as to sustain itself on an ongoing basis creating both national wealth and shareholder returns.

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