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Business Ethics

Though business ethics is the oldest concept in business organization, it has been gaining more importance since last twenty years. Moral values and good principles are no more a topic included in the curriculum in schools but an underlying basic concept on which business policies and guidelines are built. That is mainly because we get more and more cases of leakage of security information by the people at the top level of the organization. At the same time we cannot afford to forget that with the advent of technological development and faster communication facilities Internet has become the latest medium of communication for leaking sensitive information of the Company and the risk of vital information falling in the wrong hands has caused great failures and huge losses to many corporate houses.

Patricia Dunn - Chairwoman of Hewlett-Packard had initiated a secret probe to find out how did the press get sensitive company information which was known only to the Board Members of HP. We cannot so easily forget that Kenneth Lay, former CEO of Enron and Jeffrey Skilling Former Enron President were convicted by federal jury for charges of conspiracy and fraudulent act, few months back and the sentencing is yet to be decided.

Corporate governance, Corporate Risk Management, Employee Surveillance is all important issues faced by the Management Executives. Recently a more shocking news was making its rounds in the print media-that a well-educated white-collar employee-a software engineer from an eminent company in India had close and continuous links with terrorist groups. It very badly affected the reputation of the particular company apart from creating embarrassment to its Human Resource Development Manager who recruited a person who had terrorist links.

The Business Process Industry is growing at the rocket speed and the attrition rate is more than that of recruitment because of health hazards and odd timings and loss of social and family life. The industry is more aggressive than ever before, prospective employee’s age limit has been relaxed to fifty, on the spot offers are announced time and again and prizes and gifts are also offered to encourage more people to take up the job. There is no question of back ground checking; the recent news that a Business Processing Organization from Calcutta, had traded the vital information from his database-like password and user-id which enabled fraudulent withdrawal of huge sum of amounts from those bank accounts. It will definitely have a bad impact in the job market. New Corporate houses will be apprehensive to begin a BPO centre in India.

Thorough back ground checking of the candidates and threatening to impose a severe penalty which will create a permanent scar to their career. Of course we can understand that the BPO wanted to make easy and quick money hoping that he would have joined another office by the time that news is detected. I cannot find the rationale behind the fraudulent actions of the senior people who have money, fame; name everything under the sun and still indulging in such shameful activities risking their lofty career. Corruption is universal and is uncontrolled since the beginning of Corporate Culture. To tackle the problem of Leakage of sensitive and security information, the corporates can adopt some measures like, allowing only intranet facility inside the Business houses and Installing Firewalls which prevents the flow of unwanted messages/information from outside agencies to the internal network and prevents the flow of any sensitive data from internal network to the external servers.

It is not that always corporate houses are the victims, sometimes it is other way too. Nowadays there are fake contract notes being sent to the prospective consultant or technical advisors asking them to pay huge sum of money to get the posting. The surprising thing is they are very cleverly fabricated containing even the Logo of the particular Multi National Company and it appears to be real. Candidates have to confirm the authenticity of these mails by contacting the numbers mentioned in it instead of being duped by paying money.

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