Business ethics refers to the principles and standards that guide behavior in the world of business. It encompasses the moral values and rules that organizations and individuals adhere to in their practices, decisions, and relationships with stakeholders, including employees, customers, suppliers, and the community. Business ethics involves considerations of fairness, accountability, transparency, and integrity in various aspects of operations, such as marketing, finance, and corporate governance.
Ethical business practices aim to promote a positive corporate culture and foster trust among stakeholders. They also address issues such as conflict of interest, discrimination, exploitation, and consumer rights. By maintaining ethical standards, businesses not only comply with legal requirements but also enhance their reputation and long-term sustainability. Business ethics is increasingly important in today’s global marketplace, where ethical lapses can lead to significant consequences, including legal penalties, financial loss, and damage to brand reputation. In essence, business ethics helps to create a balance between economic goals and social responsibility.
Narayana Murthy highlighted the underutilized potential of AI in India, emphasizing the need for clarity amidst technological hype. He critiqued the current trend of branding ordinary programming as AI, calling…