Journal of Management Research
Volume 15, Number 1 (January–March 2015)
ISSN: 0972-5814 Online ISSN: 0974-455X
The Oxymoron that is ‘Business Ethics’
Ajit Prasad and Rajiv Agarwal
| Abstract |
The process of capitalism has again come under scrutiny. Working under the basic assumption that the divergences between the “creators” of value in an industrial organization are different from the “appropriators” of value, certain factors come out in the moral and ethical framework of society. The paper argues in its seven propositions that perhaps the basic inequities in today’s society are the result of fundamental flaws in the concept of capitalism as we understand it today. This would range from the choice of technology, separation of labor from the means of production, the problems of price and value, the application of CSR, and of course the use of strategy itself to gain market share and to increase profitability. Some suggestions are made on the way forward to resolve this imbroglio.
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