Inculcating moral and ethical values in business towards achieving the objectives of Vision 2020

Abstract

Although motivated essentially by profits, business as an activity provides numerous important services to society. It is business activity which brings all the goods and services, be they for basic or luxurious needs, within society's reach. Business also generates a major proportion of the nation's employment, contributes substantially to the country's income and wealth and parts some portion to the government in the form of taxes2. Business, to a large extent, is a major impetus to the growth and expansion of the economy apart from drawing in foreign investments and the much needed foreign exchange. It does play a significant role in determining the quality of life arising out of the impacts of the by-products of its legitimate activities on society and on the physical and social environment.