Business Ethics And Corporate Social Responsibility In The Indian Economy: A Commentary

Abstract

The effects of globalization and its impact on the transition from the industrial to the digital era are explored. Although the behaviour of business organizations has always had a profound worldwide impact, with the decline of the nation state economic power has, for the first time, eroded political power. Simultaneously, the undergoing revolution in contemporary information and communication technologies has significantly empowered the customer. Responding to enhanced customer awareness and sensitivity to business and social responsibility issues -coupled with consumers’ increasing ability to react- companies in the digital age may be expected to develop even stronger cultures of corporate social responsibility, proactively seeking to increasingly honour their moral obligations to society in the 21st century. The paper addresses the concepts of business ethics and corporate social responsibility in the old vis-à-vis the Indian economy.. The implications of the findings are crucial to support policy makers in organizations to consider the relationship between the two concepts as building blocks in their strategic initiative.