These days, we are coming across lot of frauds done by corporates as we saw the SATYAM scandal in the past. Seeing all these, business leaders around the world have taken an initiative that MBA graduates and entrepreneurs around the world will be asked to take a pledge similar to what school children take,aimed to instill moral and ethical values in how business is done and how an enterprise is run.According to the people behind this initiative, it was the lack of such values that contributed, at least partially to the Great Recession of recent years. This oath is aimed to instill moral and ethical values in how business is done and how an enterprise is run.
The Global Business Oath- or the Davos Oath, since it will be announced at the WEF meet in Davos later this month- comprises of two parts.
* One is the MBA Oath, which will be taken at B-Schools by graduating students to become responsible managers, similar to the Hippocratic oath for doctors.
* The second is the Business Oath, which will be taken by business leaders. Though not binding in nature, for business tycoons and aspiring business tycoons participating in WEF are said to have given their consent to take the oath.
What do you think people, will this help in improving business ethics in corporate world?
I totally agree this would be good, and effective to some degree, however, with so many disappointments in the past I've grown somewhat apathetic towards "Oaths".
I don't know how many people will follow this oath seriously. They may take part in this conference and even take oath to get a recognition from Global business Oath. Laws should be stringent to curb malpractices by the business leaders. But as we saw in SATYAM scandal, people in India are hungry for money. So, taking oath is an ineffective idea in this regard. That is why, in this situation, how seriously they will keep their words, I doubt...
To some extent only, although it is true that this process will not enlighten the gentlemen overnight but it will at least remind them of the moral values they needs to follow apart from chasing profits and meeting deadlines.
There is nothing wrong in initiating such a move. Remember there is a practice of oath taking in a court of law. Similarly ministers, people's representatives, governors, judges... all of them take oath. But how far this has been effective is known to everyone. Still we have to fall back on the rule of law, as fear of punishment continues to serve as a strong deterrent.
Yes it would help in commitment to certain values one holds dear. Sweeping generalisations or complaining about oaths taken in political contexts to be ineffectual in day to day to affairs certainly misses the point. After all thousands of Doctors and lawyers who have taken oaths to uphold values of their profession still remember the same whenever duty calls them. However a contrast prevails when it comes to business contexts. A Doctor or a lawyer takes oath as a person committing HIMSELF as a person representing himself to certain values he holds sacred or ordained by his profession. But Business as it is configured today and where an oath is really perceived to be needed is nothing but a corporation or a company. Legally put a Juristic person which has its own legal existence. Business leaders stand in a fiduciary relationship to the business entity unlike other professionals who are vouching themselves. Now law contemplates the concept that a legal person can take oath on behalf of another legal person to be alien. Unlike unhindered self, the duality of self commitment Vs a corporate commitment troubles the concept of oath in the context of Business. How far a oath taken by a business leader binds the corporate as well is another gray area. Legally speaking of course.
This is absolutely right that we have forgotten some of our basic values and ethics ,as the result of which these scandals and malpractice is happening in the business.These type of step also help us to which happening misbehavior with employee's sure which eventually create healthy environments to work and flourish.
It will help but it is not a panacea. An oath will reinforce to the individual how they are supposed to act, but when the rubber meets the road, ie, if they are faced with a question of ethics, other factors will drive their decision. It's usually money. For instance, if an executive has to make a decision that will affect their company's profitability or stock price, they will act as their conscience dictates, not because they took a vow back in the day.
It is a good idea yet I have reservations weather it will succeed.
The problem is even those who take oath have no respect for its sanctity that includes the regulator and its machinery. How many professionals can stand up and claim to follow any ethics. Money and accumulation somehow appears the sole motivator for most. Unfortunately the family and friends as well do not object and this has a spiraling effect. Unless we realise money is at best a resource like several more important ones it is too difficult to expect ethics to return to society.
This is a good idea. Just like doctors, they should also take oath. By this Oath, they will always be remembering the corporate ethics and business values violating which they won't be eligible to defend themselves from getting punishments...
I don't think those who are taking the oath will keep it in the mind forever. There is no use in this. Even doctors are taking oath? Do all the doctors are following this. What about politicians?
It is the seriousness attached to the word OATH that may decide if it is worthwhile or not. Bureaucrats and politicians as well take oath yet to what effect is known to all.
dear madam oath is not the solution on corruptions.When we follow our rules n laws regarding corruption and penalty for corruption ie death penalty then we never find corruptions.We take lot of oaths in our life from our birth but we dont follow it.
Taking an oath is not only to read any paragraph of any book. It must have its own value in person ethics. It must come from " Bottom of heart" and also it must required that every day some "polish" is required.so it should "Glow" every day and we can see its positive result.
Is the open market, the baniya, the kirana or the warehouse manager or the corrupt government official also taking the same oath?? Leaders may do so and even adhere to it, but what if the market that they so deligently work in soes not recognise the values of such oaths??
I can easily imagine a scenario where a government official is trying to push forward a tax file or a litigation file and says that he needs an incentive to do it faster and the leader under oath actually says, "You see sir, I am under oath of ethics and have to abide by it".... This is really laughable. Its making a mockery of the people who are seriously governing huge stress levels and asking them to take oaths of ethics... ridiculous according to me :))
You see its the surrounding that matters most for such ethics to take place. If people around you value ethics you are on. If people around you dont... please do not sit back and say the oath is what is decapacitating your performance.
Madhu Koda also took oath first as legislator and then as chief minister of Jharkhand and now he is accused of massive corruption. Oaths only affect if they are taken honestly and are adhered to scrupulously. Businesspeople do not inspire much confidence among people anywhere and neither would their oath-taking.
An oath is an oath that has to be taken with full honesty - with a commitment to stay committed to the morals agreed upon - and not get swayed by temptations to do a wrong for gains.
An oath by a doctor has got direct association with saving of life - even here some doctors end up compromising their morals for petty gains.
What has an MBA got which is far more graver than saving a life - he is in a business - which is for making profits and not for charity.
His survival is in showing growth and profit not only for himself but also for the person who has put trust and faith in him by investing in his company.
How long will he be committed to the oath? if at all he has taken one
The market consists of survival of the fittest in terms of how one manipulates ones resources to get the best returns.
This is Kalyuga - if he sticks to his principles and oath I think he will lag behind - because the world around him is cut throat - he will have to swim with the tide and not against one.
Lastly we are all like crabs in a open container - where one crab will not allow the other to get out of it - to be free.
Taking an oath is a good thought - implementing it and ensuring that it gets implemented is a hell of a task. We Indians love breaking rules - we will get the 'kick' of breaking one more, if taking oath is made compulsory for a MBA.
I think there is no system to check whether they are serious about the oth or not. Taking oath is not the way. Peoples are taking so many oaths but very few persons are serious about it.
Maximum number of people think that business means making money and more and more money, under this context people over look ethics and the only objects remains in mind is how to make more money. So, I personally don't thnik that any kind oath would help, unless they take it to their soul & heart.
first thing first is that y u take oath when u have not done or yet to do? 2.is that one was caught red handed hence he is bad but there so many from 1947 that has grown and also cleaned their slate latter, what about them,which oath will help.in such a huge country many satyam will be there but what is the percentage n why balme the entire business fraternity?
The business leaders taking oath .... may not necessarily help in overall organizational awareness on ethics and its implementation holistically.
It may be an act of showing commitment towards Ethics and its application form business perspective which is a welcome step.
Ethics cannot be known or taught it has to be realized and applied in every aspect of life including personal, social and professional life. W.R.T business ethics it has to be in every individual of the organization and applied effectively without any biased approach.
I Don't think Business Leaders to take Oath will work.It's the collective team strength should affirm of follwing the code of conduct by letter and spirit.
I do agree with Aarti on this fact. All pledges and oaths taken by people and policticians around the world are just myths and not reality. This could just be another one of that nature.
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