Sensitisation among managers needed on business ethics

Former Chief Election Commissioner N Gopalaswami today said involvement of companies in the 2G spectrum scam clearly indicated lack of corporate governance and called for more sensitisation among managers on business ethics.

"Corporate Ethics is not only an easy area, but also a tricky area. If you want proof, just look at the behaviour of some companies in 2G spectrum case", he said in his 'Mother Teresa Oration' organised by city-based Loyola Institute of Business Administration (LIBA) here today.

Pointing out that Corporate Social Responsibility is a subset of corporate ethics, he said, "unless corporates follow ethical practices, any CSR, howsoever well done, will at best be window-dressing".

He said if a company does not practice the best in business ethics, its claims would ring hollow however much it does by way of CSR.

"If therefore we are to move towards better business ethics practices by corporates, then the need is for managers who are more sensitised" he said after presenting the Mother Teresa award for Corporate Citizen 2011 to Tata Chemicals Ltd.