A Conceptual Study on Role of Business Ethics and Corporate Governance in the Growth of Organization

A Conceptual Study on Role of Business Ethics and Corporate Governance in the Growth of Organization

Rahul Vats

Assistant Professor

Department of Commerce & Management

Sarala Birla University, Ranchi

Abstract

The main goal of any business worldwide has been shifted from greater productivity and profit maximization to sustainable development. If an organisation opt for long-term objectives, it must go for long-run sustainability. Organisational ethics is a wider topic which is crucial for any business success. Ethical behavior is an important element of sustainability. The word "sustainability" has come out, along with social responsibility and corporate governance, as important business situation today. This paper focuses on integration of ethical climate and culture in an organisation that influences ethical decision making and outcomes, which result into sustainable development. It is a challenge for the organisations to remain ethical to stakeholder under the uncertain situation. They are expected to benefit the society in large.

Keywords: sustainable development; corporate governance; business ethics; corporate social responsibility; environmental factors.