The Eternal Dilemma of Business – Profits & Ethics. But is it?

In Chapter 18 of Srimad Bhagvad Gita, Lord Sri Krishna enlightens Arjuna about the 3 types of intellect. He lays down that the intellect which correctly determines what ought to be done and what should not be done in Sattvic; that by which a human being does not truly perceive what is Dharma (Righteousness) and what is Adharma (Wrong doing) & what ought to be done and what ought not is an intellect that is Rajasic. The intellect that imagines even Adharma (Wrong doing) to be Dharma (Righteousness) and sees all other things upside down, wrapped in ignorance, that intellect is Tamasic.

We observe a massive rise in Rajasic & Tamasic intellect in business sector in the recent history. The past few years have witnessed hitherto iconic corporate houses exposing their murky track record towards ethical practices with some even proving guilty of adversely impacting the world economic situation. The proverbial skeletons fall off the cabinet leading to a general fear amongst us – is that all or is there something more than what meets the eye. Short cuts, selective interpretations of laws, polishing balance sheets, mishandling public investments / investor rights and creating suboptimal / spurious products are only a few symptoms of the rot that has spread far & wide. The noise to earn profits seems to be so loud that it diminishes the sound of rationale & conscience, making ‘leaders’ indulge into ‘unleaderly’ practices that prove to be the nadir for them & their organisations. Profits earned in this way are a mirage as they are shortlived, waiting only to crumble at the first exposure.

Earning profits is a key objective of every business and so are value creation, sustainability & longevity. Justifying means by ends brings profits at loggerheads with the other objectives of the business and becomes a reason for downfall. A ‘common knowledge’ yes but not so ‘common a practice’ as leaders give into that ‘momentary weakness’ and become shortsighted.

However, there’s hope and among this vast sea of mediocrity are islands of excellence – organisations that like the beacons of the righteousness of the Sattvic Karma with unparalleled clarity go about doing their business and achieving both – being Profitable & Being Ethical. These are led by leaders firm in their resolve & clear in their conscience.

Ms. Arundhati Bhattacharya, Chairperson State Bank of India’s observation that India does not have a problem of people grabbing share from a fixed pie as India is among the few nations where the pie is getting bigger’ – is a breath of fresh air, a glimmer of hope.

Why should profits be painted guilty, Why should one be always at the cost of the other, Why should we let this flawed logic be built into the minds of today’s & future professionals when both profit & ethics can co-exist beautifully.

The Global Leadership Forum @GLFWCF #GLFImpact takes this challenge head on at The Leela Ambience Convention Hotel, New Delhi on March 12 & 13, 2016. Renowned Leaders on Ethics, Ethical Practices share their perspective on how being Profitable and Ethical is the only way and how do they tread this path less travelled.

Register for @GLFWCF on www.thegloballeadershipforum.in and listen to stalwarts like Hon. Dr. Sarah Claerhout, Member of Parliament, Chair Belgium Indian Relation, Belgium; Ms. Arundhati Bhattacharya, Chairperson, State Bank of India, India; Mr. Mukund Rajan, Brand Custodian and Member - Group Executive Council, Tata Sons, India; Mr. B. Ashok, Chairman, Indian Oil Corporation Ltd., India; Dr. Christoph Lutge, Professor of Business Ethics, Technische Universitat Munchen, Germany; Mr. Carlos Moreira, Founder, Chairman and CEO of WISeKey, Switzerland and Mr. Gary Gauba, President, Century Link, United States of America on this pertinent subject that only grows in significance by the day.

Vikrant Bhatnagar
@vbvikrant
vikrantbhatnagar@yahoo.com