In the article “Is there an ethics deficit in business?” (March 16), Subir Roy has rightly suggested that we as readers of business papers should demand higher ethical standards from business. We are responsible for the ethics deficit, be it in the government or the private sector. But it is not enough for private business to adopt only a “functional approach to ethics”.
The solution to the ethics deficit in business has to be sought beyond rules and law. It is saddening that the modern ethical theory is mainly about rules since rules hardly help, argues Paul Woodruff, who is a well-known professor of philosophy. Rules always seem to admit exceptions and they don’t connect with human motivation. Anyone with brains and an MBA degree can work out a way to make good rules serve a sleazy cause. So good rules are no use if there aren’t good people to apply them at all levels. Good people are created and nurtured with the help of good teachers, parents and, above all, good leaders permeating all walks of life, be it private business or government. Though leadership is inherently ethical, there is a need to revive that ethical dimension. People should be motivated to desire “virtue” and live “values”. Business leaders should create a culture in which integrity, honesty and virtue are expected and rewarded. This will result in people following ethical practices out of interest and of their own volition, thus benefiting themselves, the business and the economy at large.
Raman Kumar Agrawalla, Bhubaneswar
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