Ethics in management important, students need to be conscious of growing inequality, says N. Ravi
N. Ravi, Director of The Hindu Group, emphasized the importance of ethical management and social responsibility during a graduation address. He urged students to consider the impact of growing economic inequality and to prioritize stakeholder welfare alongside shareholder value.
Why it matters
The speech highlights a growing academic and professional focus on corporate social responsibility and the ethical implications of wealth disparity.
While according primacy to shareholder value, management professionals should keep in mind the other stakeholders – employees, customers, supplies, and the wider community – to ensure prosperity in the long run, N. Ravi, Director, The Hindu Group Publishing Private Limited, said on Saturday.
Addressing students at the 17th Graduation Day of MEASI Institute of Management, Mr. Ravi said “showing compassion to employees and not a hire-and-fire policy” was important, so too were customer satisfaction and honest advertising. While on a consequentialist reason, honesty helps investments prosper, in the long run ethical functioning should become a categorical principle, he added.
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