I am indebted once more to my friend J. Kannan for sharing his wisdom.
He wrote the piece below in March 2006 and given both the world financial crisis and - more locally - my recent posting about ethics and morality in business I wanted to share this with you. JK is clearly ahead of the game!
Business Ethics & Practice
“Management is doing things right.
Leadership is doing right things” - Peter F Drucker
Many a business people talk on the subject and have clear cut concept and views on the subject, but when they were to put these good ethics and practice into reality, they just forget about the positive effects and good results of the business ethics and its good practice and dump the whole thing into waste bin- an alarming situation needs to be alerted and averted.
I have never heard and seen of Man eating money but heard and seen of Money eating Man and I am quite confident that many of you will agree with me. Man needs a palatable breakfast, a square meal for lunch and a digestible supper at night followed by an undisturbed slumber, so that next day begins with vibrant motion and excellent notion. To make things work beyond the required and expected standard, he succumbs to the situation of” Money eating Man”. This is due to bad cause and its resultant effects invited by man by not adhering to good business ethics, conducive and congenial business practice. It is better to have ethical savings of money rather than unethical amassing of wealth and spending sleepless nights.
An ideal business ethics and practice will comprise of straight forward business deal, across the table direct negotiation, transparent monitory gives and takes, honouring of commitments made, with integrity and loyalty, proper and honest disclosure of financial statements, tax planning inter-alia with savings plan and last but not least prompt payment of taxes due to government followed by charity to recognized institutions towards creating education and employment opportunities to the innumerable young lads waiting in urge, and do away with your surplus money towards good causes and thereby legally and ethically gain tax benefits.
Hardly a day goes without the news in print/visual media that business people are caught by the enforcement and other appropriate authorities for breaking & violating the Acts and norms to amass money in unethical manner and following bad practice and in turn end up in acute problems and even land up at times in spending more than what they have made good by following unethical business practice. Please bear in mind- Ill gotten money will vanish leaving a scar in the heart & mind through out the life’s existence which ultimately brings ill reputation & bad name not only to self but to the entire family.
The root cause of each and every problem the man faces today is due to unethical conduct and bad practice being adopted and the only solution to this is to reverse the trend & follow ethical conduct and good business practice at all times without any compromise whatsoever.
To conclude this short write-up I would urge all involved in business to follow the principles contained in the quote on the top by THE GREAT Peter F Drucker in deed and action