How well a business corporation performs in financial terms is significant for a broad group of people that includes potential/existing investors, creditors, employees or managers. With differing information needs and purposes, each category of stakeholders should be provided with data that is comprehensive, relevant and reliable, so as to allow an informed opinion to be reached on the corporation’s financial performance. However, all too often, the general public is left out of this equation. A . . . Read More
The problem of designing and implementing a system of inquiry into code-of-ethics compliance can be approached in two ways – process based and outcome based evaluations. A sound data collection plan that would use surveys, interviews and focus groups, and direct observations will be the key instrument in either of the approaches. The measure of Organizational culture is another important component in the evaluation process. And an analysis of the indicators of the overall program performance forms the essential last step that consummates the inquiry.
The basic purpose of a compliance program for following the code of ethics is to help the employees at all levels and functions within the organization to work together and achieve the broader and narrower goals and objectives in such a way as to be consistent with standards of ethical behavior. The ethics compliance program and the system of . . . Read More
The Indian economy has been growing at a phenomenal rate over the last few years. It is expected to maintain that rate in the near future too, which would make it an economic superpower in its own right. While this turnaround in India’s economy is a source of celebration for the world community, there are some genuine reasons for worry as well.
The foremost of the concerns is inflation. The high growth is matched by a high inflation inducing confusion in the minds of consumers. The rising prices of commodities had sapped much of the initial optimism.
The value of the Indian Rupee against the U.S. Dollar is presently unfavorable. The economic boom of the last few years that had created new markets for the disposable wealth of the affluent middle class is also accompanied by high interest rates. Although the government’s decision to increase interest rates is done to balance the welfare of the poor . . . Read More
The last two decades of de-regulation in the air transport industry had both good and bad consequences. Many in the industry strongly believe that the pros have out-weighed the cons. The rationale behind their beliefs is constructed below, as a way of justifying the status quo. Areas where the present rules do not apply are also elucidated.
There are some analysts who believe that the flying experience was much better 20 years back, before the industry was de-regulated. The higher ticket prices ensured that companies did not go broke and consequently the employees were well paid. Also, back then, ticket prices did not depend on the time of purchase (Whitaker 7). If a flight was missed for any reason, the ticket is still valid for the next available flight and on any alternate airline flying the same route; all this without any additional cost for the passenger. Reservations too were much simpler – all it . . . Read More
Cycles of economic boom and bust are regular features of market economies. The global recession that set in during 2008 is the most recent episode of this phenomenon and is likely to be repeated in the future as well. Although the scale and magnitude of these crises have somewhat reduced in the period after the Second World War, they have been big enough to be termed critical policy failures of governments across the world. And in the neo-liberal economic order of the world today, national economies are ever more intertwined, making it impossible for any one nation to insulate itself and its people from the effects of the crisis. This is most obvious when we take a look at the data pertaining to the recent global economic recession, precipitated by the collapse of credit derivatives. (Weale, . . . Read More
“Secularism implies plurality of cultural choices. Secularism is not about the absence of faith: indeed it is about assertion of faith – faith in freedom and people, not dogmas. A space where one can pause and acknowledge the other, the one who is different, the alien, the non-believer; where one can negotiate the public sphere without the need to foreground or privilege one’s own mode of worship” (Menon 2004).
This is how secularism is defined, but how does it manifest in the contemporary industrial society?
The Socio-Political Framework
It is the governments of nations that wield the greatest influence on how secularism, as accommodated in the constitution, is supported, suppressed or misinterpreted. Let’s . . . Read More