Question 6(a)GS4GS2

With the increasing role of the corporate sector in wealth generation and employment, ethical governance has become an essential. Identify and discuss the ethical principles that should guide the corporate sector to ensure the interests of stakeholders and societal well-being. (Answer in 150 words)

Main Body

The increasing corporate role in industry, economy and governance spawns need for ethical conduct.

Need:

1Promote safety of consumer citing Anil monopolization action against google unfair strategy on ads.

2Ensure quality of service delivery citing Maggi scandal - high MSG in food product

3Maintain public faith in governance and private efforts. citing CSR principles mandate of 1% profit

4Ensure primacy of people over profit

Ethical Principles:

1Integrity - Prioritize consumer over profits and revenue - Safety of consumer rights must be upheld.

2Transparency and Accountability - Provision of ethical workplace that serves the consumer instead of personal interest.

3Stakeholder capitalism - Involvement of all involved parties in decision making

4Ethical Leadership - Save as inspiration to employees citing Ratan Tata

Corporate sector must work to serve consumer above all

137 words4 paragraphs

Examiner score

1.2/10

Open original scan

Page 25

Topper

Varun Tokas

AIR 1172023

Subject & Paper

GS4GS2

Topic

Ethics and Corporate Governance

Corporate Ethics

Ethical principles for corporate sector

Writing Stats

137

Total words

Paragraphs

analytical

Tone