Viability of Ethical Business Practices in Today's Competition in India: An Empirical Review

Ethics concern an individual's moral judgments about right and wrong. The decision to behave ethically is a moral one, employees must decide what they think is the right course of action. Today, it seems like the larger a corporation gets, the slimier their actions become. Making money is not wrong in itself. It is the manner in which some businesses conduct themselves that brings up the question of ethical behavior (Maitland, 1994). Money is the major deciding factor (Seglin, 2003). If a company does not adhere to business ethics and breaks the laws, they usually end up being fined (Drucker, 1981). Many companies broken anti-trust, ethical and environmental laws and received fines worth millions (Velasquez, 1983). Now in this review focusing on Indian business houses we will study the status of ethics in their practices and the need and possibility of revival there.