19-07-2013, 01:48 PM
BUSINESS ETHICS, CORPORATE GOVERNANCE,SOCIAL RESPONSIBILITY IN THE
HOSPITALITY INDUSTRY-ITC AS A MODEL
BUSINESS ETHICS,.pdf (Size: 174.92 KB / Downloads: 33)
INTRODUCTION
• ETHICS FROM GREEK WORD ETHOS MEANING
CHARACTER,NORMS, IDEALS IN A GROUP.
• THE 3C’s OF BUSINESS ETHICS AS UNDER:
• 1. COMPLIANCE OR RULES OF THE INDUSTRY.
• 2. CONTRIBUTION TOWARDS SOCIETY.
• 3. CONSEQUENCES OF BUSINESS TRAGEDY
• BUSINESS ETHICS STARTED IN THE USA NOT
TO VIOLATE THE ENVIRONMENTAL LAWS OF THE USA.
• CORPORATE GOVERNANCE STARTED IN THE UK
FOR TRANSPARENCY IN ALL ASPECTS OF BUSINESS.
• CORPORATE SOCIAL RESPONSIBILITY STARTED
IN THE USA TO PASS THE ANTI-TRUST LAW
AGAINST THE MONOPOLIES& RESTRICTIVE TRADE ACT.
CORPORATE GOVERNANCE
• ITC DEFINES CORPORATE GOVERNANCE AS A
SYSTEMATIC PROCESS BY WHICH COMPANIES
ARE DIRECTED AND CONTROLLED.
• TWO CORE PRINCIPLES:
• 1. MANAGEMENT MUST HAVE EXECUTIVE
FREEDOM TO DRIVE THE COMPANY FORWARD
WITHOUT UNDUE RESTRAINTS.
• 2. THIS FREEDOM OF MANAGEMENT SHOULD BE
EXERCISED WITH EFFECTIVE ACOUNTABILITY.
WHAT ITC IS DOING?
ITC DIVIDED DECISION MAKING AT 3 LEVELS.
1. BOARD OF DIRECTORS FOR SHAREHOLDERS.
2. RESPONSIBILITY OF THE BOARD ON THE
RECOMENDATIONS OF SUBCOMITEES.
• 3. STRATEGIC MANAGEMENT BY DIRECTORS
FOR REVIEWING STRATEGIC PLANS.
CONCLUSION
• THE HOTEL INDUSTRY SHOULD BE MORE ETHICAL AND
SOCIALY RESPONSIBLE.
• THE LEFT OVER FOOD SHOULD BE GIVEN TO
CHARITABLE INSTITUTIONS AND THE HUNGRY
LIKE WHAT IS BEING DONE IN THE US.
• IN THE US. THERE IS POVERTY BUT NO ONE
GOES TO BED HUNGRY.
• IN INDIA, PEOPLE ARE STILL HUNGRY AND YOU IN THE
HOTEL INDUSTRY SHOULD STRIVE TO REMOVE HUNGER
IN THE CITY THAT YOU OPERATE IN IN INDIA.