A STUDY ON ETHICS IN BUSINESS ORGANISATION AT LUMINOUS PVT. LTD., GAGRET, UNA A PROJECT REPORT SUBMITTED TO THE GAUTAM GIRLS COLLEGE IN PARTIAL FULFILLMENT OF THE REQUIREMENT FOR THE AWARD OF THE DEGREE OF BACHELOR OF COMMERCE
(SESSION 2015-2016)
Submitted to:
Submitted by:
H.P. University
Ashima
Shimla
Course: B.Com 6th Sem. Uni.Roll: 3113HM08170005
GAUTAM GIRLS COLLEGE HAMIRPUR (H.P.)
CERTIFICATE This is to certify that the thesis entitled “A Study on Ethics in Business Organisation in Luminous Pvt. Ltd. Co. Gagret, Una (H.P.)” submitted in partial fulfilment of the requirement for the award of degree of Bachelor of Commerce in Gautam Girls College Hamirpur (H.P.) is bonafide research work carried out by Ashima (University Roll No. 3113HM08170005) under my guidance and supervision. No part of this thesis has been submitted for any other degree or diploma. The assistance and help received during the course of investigation has been duly acknowledged.
Place: Hamirpur Dr. Ashok Kumar Bansal Date:
Candidates Declaration I hereby Ashima, University Roll No.3113HM08170005 declare that I have done a project report on the topic “A STUDY ON ETHICS IN BUSINESS ORGANISATION AT LUMINOUS PVT.LTD. GAGRET, UNA.” which is submitted in partial fulfilment of the requirement for the degree of Bachelor of commerce at Gautam Girls College, Hamirpur. The data that is included in it is pure. The assistance and help that received during the course of this investigation has been duly acknowledged. It is further, declared that it has an original piece of work and it is worthy of the consideration for the the degree of B.com.
Date: Place:
Ashima
ACKNOWLEDGEMENT
At this point, I would like to place a record m y deep sincere sense of gratitude to all those esteemed persons whose direct and indirect co-operation and efforts have led to the completion of this report. It is my proud on record my sincere thanks to my esteemed Advisor Dr. As hok Kumar Bansal, for his continuous keen interest and providing me expert guidance; invaluable suggestions as well as constructive criticism and inspiration from the inception to the completion of this study, without it would not have been successfully completed. I would also like to thank all the respondents who honestly answered the questions as ked to them.
Thanking you Date:
Ashima
Contents Sr.No.
Particular
Page No.
Certificate Candidate Declaration Acknowledgement
Chapter 1
Introduction 1.1 History of Business Ethics Ethics 1.2 Meaning of Business Ethics 1.3 Definition of Business Ethics 1.4 Importance of Business Ethics 1.5 Scope of Business Ethics 1.6 Features of Business Ethics 1.7 Principles of Business Ethics 1.8 Types of Business Ethics 1.9 Advantages of Business Ethics 1.10 Conclusion 1.11 Company Profile
Chapter 2
Research Methodology
1-12 1-3 3-4 4 4-5 5 5-6 6-8 8-9 9-10 10-12 12 13-27
2.1 Research Methodology 2.2 Need of Study 2.3 Scope of Study 2.4 Objectives of Study 2.5 Research Design 2.6 Data Collection 2.7 Sample Design 2.8 Analysis of Data 2.9 Limitation of the Study Questionnaire
Chapter 3 Chapter 4
Analysis and Interpretation Summary, Findings, Conclusion and Suggestions
33-35 36-59 60-64
CHAPTER 1
INTRODUCTION Business ethics (also corporate ethics) is a form of applied ethics or professional ethics that examines ethical principles and moral or ethical problems that arise in a business environment. It applies to all aspects of business conduct and is relevant to the conduct of individuals and entire organizations. Business ethics has normative and descriptive dimensions. As a corporate practice and a career specialization, the field is primarily normative. Academics attempting to understand business behaviour employ descriptive methods. The range and quantity of business ethical issues reflects the interaction of profit-maximizing behaviour with non-economic concerns. Interest in business ethics accelerated dramatically during the 1980s and 1990s, both within major corporations and within academia. For example, most major corporations today promote their commitment to non-economic values under headings such as ethics codes and social responsibility charters. Adam Smith said, "People of the same trade seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices." Governments use laws and regulations to point business behaviour in what they perceive to be beneficial directions. Ethics implicitly regulates areas and details of behaviour that lie beyond governmental control. The emergence of large corporations with limited relationships and sensitivity to the communities in which they operate accelerated the development of formal ethics regimes.
A History of Business Ethics By Richard T. De George The term 'business ethics' is used in a lot of different ways, and the history of business ethics will vary depending on how one conceives of the object under discussion. The history will also vary somewhat on the historian — how how he or she sees the subject, what facts he or she seeks to discover or has at hand, and the relative importance the historian gives to those facts. Hence the story I'm going to tell will be somewhat different from the story someone else might tell in various particulars, and I hope that instead of being a dull recitation of facts it might in fact prompt some discussion at the end by those who would tell a somewhat different story. The story I will tell has three strands, because I believe the term business ethics is used in at least three different, although related, senses. Which sense one chooses therefore gives priority to nature of the history of the topic. The primary sense of the term
refers to recent developments and to the period, since roughly the early 1970s, when the term 'business ethics' came into common use in the United States. Its origin in this sense is found in the academy, in academic writings and meetings, and in the development of a field of academic teaching, research and publication. That is one strand of the story. As the term entered more general usage in the media and public discourse, it often became equated with either business scandals or more broadly with what can call "ethics in business." In this broader sense the history of business ethics goes back to the ori gin of business, again taken in a broad sense, meaning commercial exchanges and later meaning economic systems as well. That is another strand of the history. The third stand corresponds to a third sense of business ethics which refers to a movement within business or the movement to explicitly build ethics into the structures of corporations in the form of ethics codes, ethics officers, ethics committees and ethics training. The term, moreover, has been adopted world-wide, and its meaning in Europe, for instance, is somewhat different from its meaning in the United States. The "ethics in business" sense of business ethics. In this broad sense ethics in business is simply the application of everyday moral or ethical norms to business. Perhaps the example from the Bible that comes to mind most readily is the Ten Commandments, a guide that is still used by many today. In particular, the injunctions to truthfulness and honesty or the prohibition against theft and envy are directly applicable. A notion of stewardship can be found in the Bible as well as many other notions that can be and have been applied to business. Other traditions and religions have comparable sacred or ancient texts that have guided people's actions in all realms, including business, for centuries, and still do. If we move from religion to philosophy we have a similar long tradition. Plato is known for his discussions of justice in the Republic, and Aristotle explicitly discusses economic relations, commerce and trade under the heading of the household in his Politics. His discussion of trade, exchange, property, acquisition, money and wealth have an almost modern ring, and he makes moral judgments about greed, or the unnatural use of one's capacities in pursuit of wealth for its own sake, and similarly condemns usury because it involves a profit from currency itself rather than from the process of exchange in which money is simply a means.1 He also gives the classic definition of justice as giving each his due, treating equals equally, and trading equals for equals or "having an equal amount both before and after the transaction.
In the West, after the fall of Rome, Christianity held sway, and although there were various discussions of poverty and wealth, ownership and property, there is no systematic discussion of business except in the context of justice and honesty in buying and selling. We can expect all three to remain vibrant and interacting for the foreseeable future. Ethics is a branch of social science. It deals with moral principles and social values. It helps us to classify, what is good and what is bad? It tells us to do good things and avoid doing bad things. So, ethics separate, good and bad, right and wrong, fair and unfair, moral and immoral and proper and improper human action. In short, ethics means a code of conduct. It is like the 10 commandments of holy Bible. It tells a person how to behave with another person. So, the businessmen must give a regular supply of good quality goods and services at reasonable prices to their consumers. They must avoid indulging in unfair trade practices like adulteration, promoting misleading advertisements, cheating in weights and measures, black marketing, etc. They must give fair wages and provide good working conditions to their workers. They must not exploit the workers. They must encourage competition in the market. They must protect the interest of small businessmen. They must avoid unfair competition. They must avoid monopolies. They must pay all their taxes regularly to the government. In short, business ethics means to conduct business with a human touch in order to give welfare to the society.
MEANING Ethics is a branch of social science. It deals with moral principles and social values. It helps us to classify, what is good and what is bad? It tells us to do good things and avoid doing bad things. So, ethics separate, good and bad, right and wrong, fai r and unfair, moral and immoral and proper and improper human action. In short, ethics means a code of conduct. It is like the 10 commandments of holy Bible. It tells a person how to behave with another person. So, the businessmen must give a regular supply of good quality goods and services at reasonable prices to their consumers. They must avoid indulging in unfair trade practices like adulteration, promoting misleading advertisements, cheating in weights and measures, black marketing, etc. They must give fair wages and provide good working conditions to their workers. They must not exploit the workers. They must encourage competition in the market. They must protect the interest of small businessmen. They must avoid unfair competition. They must avoid monopolies. They must pay all their taxes regularly to the government. In
short, business ethics means to conduct business with a human touch in order to give welfare to the society.
DEFINITIONS According to Andrew Crane ,
"Business ethics is the study of business situations, activities, and decisions where issues of right and wrong are addressed." According to Raymond C. Baumhart , "The ethics of business is the ethics of responsibility. The business man must promise that he will not harm knowingly."
IMPORTANCE OF BUSINESS ETHICS By Luanne Kelchner Ethics are the principles and values an individual uses to govern his activities and decisions. In an organization, a code of ethics is a set of principles that guide the organization in its programs, policies and decisions for the business. The ethical philosophy an organization uses to conduct business can affect the reputation, productivity and bottom line of the business. Leadership Ethics
The ethics that leaders in an organization use to manage employees may have an effect on the morale and loyalty of workers. The code of ethics leaders use determines discipline procedures and the acceptable behaviour for all workers in an organization. When leaders have high ethical standards, it encourages workers in the organization to meet that same level. Ethical leadership also enhances the company’s reputation in the financial market and community. A solid reputation for ethics and integrity in the community may improve the company’s business. Employee Ethics
Ethical behaviour among workers in an organization ensures that employees complete work with honesty and integrity. Employees who use ethics to guide their behaviour adhere to employee policies and rules while striving to meet the goals of the organization. Ethical
employees employees also meet standards for quality in their work, which can enhance the company’s reputation for quality products and service.
Ethics in Non-Profit Organizations Ethical Organizational Culture
Leaders and employees adhering to a code of ethics create an ethical organizational culture. The leaders of a business may create an ethical culture by exhibiting the type of behaviour they'd like to see in employees. The organization can reinforce ethical behaviour by rewarding employees who exhibit the values and integrity that coincides with the company code of ethics and disciplining those who make the wrong choices. Benefits to the Organization
A positive and healthy corporate culture improves the morale among workers in the organization, which may increase productivity and employee retention; this, in turn, has financial benefits for the organization. Higher levels of productivity improve the efficiency in the company, while increasing employee retention reduces the cost of replacing employees.
SCOPE OF BUSINESS ETHICS Ethical problems and phenomena arise across all the function areas of companies and at all levels within the company.
1. Ethics in compliance Compliance is about obeying and adhering to rules and authority. The motivation for being complaint could be to do the right thing out of the fear of being caught rather than a desire to be abiding by the law.
2. Ethics In Finance: The Ethical issue in finance is that t hat companies and employees are confronted with include:
In accounting- window dressing, misleading financial analysis.
Related party transactions not at arm’s length.
Executive compensation.
Fake reimbursements.
3. Ethics in Human Resources:
Human resource management plays a decisive role in introducing and implementing ethics. Ethics should be a pivotal issue for HR specialists. The issues of ethics faced by HRM include:
Discrimination issues i.e discrimination on the bases of age, gender, race, weight etc.
Sexual harassment.
Affirmative Action.
Occupational safety and health.
4. Ethics in Marketing: Marketing ethics is the area of applied ethics which deals with the moral principles behind the operation and regulation of marketing. The ethical issues confronted in this area include:
Misleading advertisement.
Children and marketing.
Black market, Grey market.
5. Ethics of Production: This area of business ethics deals with the duties of a company to insure that products and production processes do not cause harm. Some of the more acute dilemmas in this area arise out of the fact that there is a as usually a degree of dangour in any product or production process and it is difficult to define a degree of permissibility.
Defective, addictive and inherently dangerous products.
Ethical relation between the company and the environment include pollution, environmental ethics, and carbon emission trading.
Product testing ethics.
Features of Business Ethics The characteristics or features of business ethics are:-
Code of conduct: Business ethics is a code of conduct. It tells what to do and what not to do
for the welfare of the society. All businessmen must follow this code of conduct. Based on moral and social values : Business ethics is based on moral and social values. It
contains moral and social principles (rules) for doing business. This includes self-control, consumer protection and welfare, service to society, fair treatment to social groups, not to exploit others, etc. Gives protection to social groups: Business ethics give protection to different social groups
such as consumers, employees, small businessmen, government, shareholders, creditors, etc. Provides basic framework: Business ethics provide a basic framework for doing business. It
gives the social cultural, economic, legal and other limits of business. Business must be conducted within these limits. Voluntary: Business ethics must be voluntary. The businessmen must accept business ethics
on their own. Business ethics must be like self -discipline. It must not be enforced by law. Requires education and guidance : Businessmen must be given proper education and
guidance before introducing business ethics. The businessmen must be motivated to use
business ethics. et hics. They must be informed about the advantages of using business ethics. Trade Associations and Chambers of Commerce must also play an active role in this matter. Relative Term: Business ethics is a relative term. That is, it changes from one business to
another. It also changes from one country to another. What is considered as good in one country may be taboo in another country. New concept: Business ethics is a newer concept. It is strictly followed only in developed
countries. It is not followed properly in poor and developing countries .What are types of business ethics?
Principles of Business Ethics The principles of business ethics developed by well-known authorities like Cantt, J.S Mill , Herbert Spencer, Plato , Thomas Garret , Woodred , Wilson etc are as follows. 1).Sacredness of means and ends: the first and most important principle of business ethics
emphasize that the means and technique adopted to serve the business ends must be sacred and pure. It means that a good end cannot be attained with wrong means , even if it is beneficial to the society. 2). Not to do any evil: It is unethical to do a major evil to another or to oneself, whether this
evil is a means or end. 3).Principle of proportionality: This principle suggest that one should make proper
judgment before doing anything so that others do not suffer from any loss or risk of evils by the conduct of business. 4). Non-cooperation in evils: It clearly point out that a business should with anyone for
doing any evil act. 5). Co-operation with others : This principle states that business should help others only in
that conditions when other deserves with help. 6.) Publicity: According to W.Wilson, anything that is being done or to be done, should be
bought to the knowledge of everyone. If everyone knows, non gets opportunity to do an ethical act.
7.) Universal Value: According to the principle the conduct of business should be done on
the basis of universal value. 8.) Human Dignity: As per this principle, man should not be treated tr eated as a factor of production
and human dignity is maintained. 9.) Equivalent Price: According to W. Wilson, the people are entitled to get goods
equivalent to the value of money that he will pay. 10.) Non-Violence: If businessman hurts the interest and rights of society and explains the
consumer by overlooking their interest this is equivalent to violence and unethical act.
TYPES OF BUSINESS ETHICS
Types of Business Ethics
Transactional
Participatory
Recongnitional
Ethics
Ethics
Ethics
1. TRANSACTIONAL ETHICS.
Business transactions are the interaction between business and their customer, vendors and other with whom they do business. Transaction can be very simple, like buying a newspaper or extremely taking a long time and involving many companies or agencies new technology and around the management of business transaction. There is a thin relation of buyer and seller principle of honesty principle of reciprocing. 2. PARTICIPATORY ETHICS.
Participatory ethics is an integral part of business ethics these are the action some of which are guided by common interest and some share interest all participatory involved in the
business. Participate and cooperative to produce a common goods for the betterment of the society and organisation. The goods can only be released through the participation of all parties. Through participation may be profitable by participating party of the society, but some of parties have to participate have the survival. 3. RECONGNITIONAL ETHICS.
The term ‘recognition’ has several distinct meanings: (1) An act of intellectual apprehension, such as when we ‘recognize’ we have made a mistake or we ‘recognize’ the influence of religion on American politics. (2) A form of identification, such as when we ‘recognize’ a friend in the street. (3) The act of acknowledging or respecting another being, such as when we ‘recognize someone’s someone’s status, achievements or rights (upon the different meanings of recognition, In wood, 1992: 245-47; Margalit, 2001: 128-129). The philosophical and political notion of recognition predominantly refers to, and is often taken to mean that not only is recognition an important means of valuing or respecting another person, it is also fundamental to understanding ourselves.
Advantages of Good Business Ethics A business is not not just about money making at all costs. There are considerations to be be made outside traditional money making and ethical and moral considerations. A business should have a positive influence on its immediate surroundings and the people that live in the community by creating jobs and playing a significant role in the economical and social welfare of the community. The effect of unethical practices by a business will create a bad reputation and distrust among the employees and the community. Businesses with integrity and high ethical standards establish long lasting relationships with the customers they deal with. Many business make the mistake of putting profit before customer satisfaction, while they might get away with it initially and appear successful, in the long run, the business is bound to fail as no customer wants to feel short-changed. It is important that a degree of transparency in all dealings be present and ambiguity ambiguity be eliminated.
This is
because even if the transaction was fair, the presence of hidden expenses will generate distrust leading to bad will. The business administrators have a duty to the shareholders, employees, and the community; therefore, they need to keep to an ethical approach in all dealings. It is important that set ethical standards be made part and parcel of the companies culture and included in all dealings associated with the business. Companies with good ethical policies earn:
Marketing advantages over their competitors. Customers readily invest in the companies through shares and also want to establish long lasting business relations with the company.
The performance of employees improves with good ethical policies present in a company. Morale is high and employees feel obligated to put in their all to continue to make it a success.
Reputation management: a bad reputation is created by unethical behavior which will eventually lead to a scandal. A scandal will result in falling stock prices, anxiety, and low morale among employees as well as government and public scrutiny and inquests.
Legal and financial incentives: companies known for their high ethical standards and education of employees on ethical polices are provided with strong legal and financial incentives by regulatory bodies.
Customer satisfaction is a vital factor in successful business strategy. Repeat purchases/orders and enduring relationship of mutual respect is essential essentia l for the success of the company.
Investors are concerned about ethics, social responsibilities and reputation of the company in which they invest. Investors are become more and more aware that an ethical climate provide a foundation for efficienc y.
Regulators eye companies functioning ethical as responsible citizen. The regulator need not always monitor the functioning of the ethical sound companies. The company earns profit and reputational gains if it acts within the confines of business ethics. To summaries, companies that are responsive to employees’ needs have lower turnover in staff.
Individual opinion of what is ethical varies, hence the importance for the company to set standards that represent and are applied throughout the organization. The Human resource
team is the starting point of ethical reformation in an organization. The careful selection and training of the human resource team is necessary if they are to train other employees on ethics. Sound ethical policies in a company create a unified and morally sound approach to business practice.
Conclusion Ethics are the building block of our society and thus should be the building block of our cooperation. If you built that foundation, both the moral and the ethical foundations, as well as the business. Then the building wouldn’t crumble. It is not essenti al to let greed cloud judgment. It can be b e concluded that it is the high time ti me business ethics should be practices all over the globe in the benefit of the common society as described in the paper. It is not only in the favour of the mass but also has advantages for the corporate.
COMPANY PROFILE
Luminous Pvt. Ltd. Co. Gagret, Una Type
Private
Industry
Packaged power, diversified generation,
optimization
electrical control & safety and energy
Founder
Rakesh Malhotra
Headquarters
New Delhi, India
Key people
Vipul Sabharwal (Managing Director)
Number of employees
5,000+
HISTORY OF LUMINOUS PVT. LTD. CO. GAGRET, UNA Luminous Pvt. Ltd. Co. Gagret, Una is a New Delhi based company which was founded on 10 June 1988. By 1991, the first Luminous Inverter got rolled out. Three years later the first uninterrupted power supply device (UPS) by the company was delivered to the market. The next six years were spent in innovation and further improving its offerings. At the turn of the century the first Luminous Inverter* was exported. Luminous Pvt. Ltd. Co. Gagret, Una is a company providing solutions for packaged power, diversified generation, electrical control & safety and energy optimization. Luminous Pvt. Ltd. Co. Gagret, Una is the leading home electrical specialist in India having a vast portfolio comprising of Power back up solutions such as Home UPS, Inverter Batteries and Solar Applications to Electrical offerings such as Fans, Wires & Switches. With 7 manufacturing units, more than 28 sales offices in India and presence in over 36 countries, our 5000 employees serve more than 60,000 channel partners and millions of customers. Our motto has always been Customer Delight through Innovation & Passion with focus on Execution & Team-work. At Luminous, we passionately innovate to make life comfortable and efficient.” Luminous is India's leading manufacturer of diversified reliable and safe solutions for packaged power, diversified generation, electrical control & safety and energy optimization. Offering a wide range of products starting from Home Ups, Inverter batteries, Fans (Designer Fans) to Solar Products, Luminous wants to add higher efficiency and higher performance in electrical and packaged power solutions sector. With over 5000 employees, 7 manufacturing units, 28 sales offices across the country and more than 60000 channel partners; Luminous is truly a technology and smart innovation driven company. We care about our earth and thus the products are skillfully engineered to be environment-friendly as well.
MISSION OF LUMINOUS PVT. LTD. CO. GAGRET, UNA “Be the brand of choice for products and services that generate, control, store and use electricity efficiently. Through passionate people we innovate to consistently deliver a tangible competitive advantage in reliability, service and cost.”
VISION OF LUMINOUS PVT. LTD. CO. GAGRET, UNA “Passionately innovate to make life confortable and efficient.” CORE VALUES OF LUMINOUS PVT. LTD. CO. GAGRET, UNA
Customer Delight through innovation and passion with focus on execution and teamwork (togetherness).
GROWTH OF LUMINOUS PVT. LTD. CO. GAGRET, UNA In the meanwhile, Luminous decided to manufacture batteries. As a consequence a plant was set up in 2004. In the same year Luminous entered into an agreement with Eagle Picher Inc. a USA major and a leader in battery technology. Eagle Picher Inc. is an original equipment supplier to such diverse industries and activities as automotive, space, chemical processing, and defense, environmental, medical and nuclear applications. Its heavy-duty customized batteries are working in the most demanding conditions such as space ships and on planet Mars. The company offers a six-sigma process that gives them the worldwide recognition. Soon after the agreement was signed, technology flowed in from Eagle Picher Inc. and Luminous launched a broadside on the battery market. A full range of advanced batteries for automotive use, Home UPSs, tubular batteries and VRLA (valve regulated lead acid) SMF (sealed maintenance free) batteries were delivered to a market. A separate agreement for power products was signed in 2006 with Hyundai to provide the end user with another option for power back up solutions based on advanced Korean technology as well as leverage the strong Hyundai brand name.
CURRENT SCENARIO Today, Luminous is part of the Schneider Electric conglomerate. At present, the company has seven manufacturing facilities and an R&D center. It has several patents to its credit in the inverter and battery batt ery manufacturing m anufacturing space. Taking advantage of its new parent’s global product and technology platform, Luminous has ve ntured in electrical product space. The offerings include electrical wires and cables, wiring protection devices such as MCBs, RCCBs (types of circuit breakers), distribution boards, all types of fans and modular switches. Luminous Pvt. Ltd. Co. Gagret, Una are also focusing on renewable
energy in the form of solar panel and solar home lighting. It also aims to offer various solar applications to rural India as an alternative alte rnative power solution.
MILESTONES 1988: Company founded by Rakesh Malhotra with 3 people. 1991: First Luminous Inverter rolled out. 1994: First Luminous UPS got manufactured. 2000: First Luminous product exported. 2004: First battery manufacturing plant came into existence. 2004: Tie-up for battery technology with Eagle Picher Inc. USA. 2005: Luminous awarded with Consumer World Award 2005. 2006: Tie-up with Hyundai, formation of Hyundai Power Products. 2006: Luminous awarded with Consumer World Award 2006. 2007: Got Industry Leadership Award from Frost & Sullivan. 2007: Luminous awarded with Consumer World Award 2007. 2007: 1st Manufacturing facility outside India (Lang Ming, China) 2008: Luminous awarded with Consumer World Award 2008. 2010: Sachin Tendulkar appointed as the brand ambassador of Luminous. 2011: Luminous - Schneider Electric Joint Venture. 2011: Luminous stepped into the Electrical product space – Offers Fans, Switches, Wires, Cables, MCBs, RCCBs & Distribution Board. 2011: Solar applications were introduced – Offers Offers PV Modules, Solar Battery, Solar Home Lamp system, Solar Lantern, Solar Charge controller, Solar Cracker and Solar Home UPS 2012: Luminous awarded Super brand status. 2012: ISO 50001:2001 rating and MNRE: CRISIL Recognition.
2012: Luminous got Quality Brand Award 2012-14. 2012: Rashtriya Udyog Ratna Award given to Mr. Manish Pant, MD, Luminous. 2012: Luminous got SME Channel Connect & Achievers Award 2012 – Received in ‘Best Home UPS’ Category. 2012: Luminous got SME Channel Connect & Achievers Award 2012 – 2012 – Received in ‘Best Inverter Battery’ Category. 2012: Best Power Back-up Solution Provider Company – Awarded Awarded to Luminous based on the study conducted by VAR India publication house. 2013: Luminous shortlisted by Agency for Non-Conventional Energy and Rural Technology (ANERT) as a preferred agency for Solar Roof Top Solutions in Kerala.
Pay scale Average Salary for LUMINOUS Employees
Salary By Years’ Experience
By City
By State or Province
By Skill/Specialty
By Industry
By Gender
By Benefit/Perk
Employer: LUMINOUS Average Salary Range by Job Years’ Experience
National Salary Data
1-4 years
Rs. 273,595
(6 salaries)
5-9 years
Rs. 400,000
(4 salaries) 10-19 years
Rs. 631,006
(8 salaries)
Bonus By Years’ Experience
By City
By State or Province
By Skill/Specialty
By Industry
By Degree/Major Subject
Years’ Experience
National Bonus Data
1-4 years
Rs. 9,163
5-9 years
Rs. 7,742
10-19 years
Rs. 113,000
CORPORATE SOCIAL RESPONSIBILITY POLICY 1. Philosophy
Luminous Pvt. Ltd. Co. Gagret, Una upholds it national, social and environmental responsibilities at the highest standards. These standards are a core part of our business values and operations as we passionately innovate solutions that will help us meet and surpass the expectations of our stakeholders, making Luminous an agent of change and pride in their lives. Corporate Social Responsibility (CSR) at Luminous underscores this commitment to our stakeholders in the communities around our plants, and includes in its wider scope to those employed by its contractors and suppliers, ensuring that they benefit from the company’s presence in their neighborhood.
Luminous corporate social responsibility is rooted in the company’s core values of i nnovation and passion, driven to work as a team with many partners, to establish excellent services and products that will transform the lives of people in our communities communities for better, forever. 2. CSR Vision
The CSR philosophy outlined above, defines the strategic approach and choices that Luminous is making to achieve its CSR vision. We identify four key areas where Luminous will strengthen its CSR efforts. These identified areas will be aligned across all its target locations to ensure common focus and synergy in efforts. (a) Education: To enhance and create opportunities for access to good quality education,
from primary education to higher technical education, leading to improved employment and all round development. (b) Health: To ensure available, accessible and affordable good quality healthcare services in
the local communities leading to improved good health and wellbeing (c) Livelihoods: To create trained and skilled workforce through vocational & livelihoods
linked trainings ensuring their participation in work. (d) Environment: To increase environmental resilience by providing communities with
solutions and products to use alternate and efficient energy products and technologies. CSR activities shall be implemented at geographic areas adjoining our manufacturing units. Presently these are located at Gagret-Himachal Pradesh, Baddi-Himachal Pradesh and HosurTamil Nadu. 3. Proposed CSR Initiatives
It is Luminous policy: (a) To direct Luminous CSR Programs, inter alia, towards achieving one or more of the
following _ supporting rural development; promoting education; providing preventive healthcare, providing sanitation and drinking water; creating livelihoods for people, especially those from disadvantaged sections of society, in rural and urban India; preserving and promoting sports; enhancing environmental and natural capital;
(b) To develop the required capability and self-reliance of beneficiaries at the grass roots,
especially of women, in the belief that these are prerequisites for social and economic development; (c) To engage in affirmative action interventions such as skill building and vocational
training, to enhance employability and generate livelihoods for persons from disadvantaged sections of society; (d) To pursue CSR Programs primarily in areas that falls within the economic vicinity of the
Company's operations to enable close supervision and ensure maximum development impact. 4. Implementation
To implement the Company's CSR Programs through Company personnel or through external implementing agencies and Trusts, Foundations and Section 8 companies that may be established by the Company from time to time. Luminous may employ one or more staff to operationalize the CSR Policy and follow the implementation modalities as specified. Any training costs incurred on the CSR staff and overall
Luminous
employees
in
matters
of
engaging
with
the
Company
CSR
Projects/Programs and developing their capacities to undertake CSR initiatives on behalf of the company will be met within the mandated 5% of overall CSR annual budget, including the expenditures on administrative overheads.
5. Governance (a) The CSR Committee will place for Board's approval, a CSR Plan delineating the CSR
Projects/Programs to be carried out during a particular financial year and the specified budgets thereof. The Board will consider and approve the CSR Projects/Programs and the budget, with or without modification(s), modification(s), as it deems fit. (b) The CSR Committee will assign the task of implementation of the CSR Plan within
approved budgets and timeframes to such persons or bodies or institutions, as it may deem fit. (c) The persons/bodies/institutions to which the implementation is assigned will carry out
such CSR Projects/Programs as determined by the CSR Committee within the specified
budgets and timeframes and report back to the CSR Committee on the progress thereon at such frequency as the CSR Committee may direct. (d) The CSR Committee shall review the implementation of the approved CSR
Projects/Programs at such intervals as it may deem fit to ensure early and effective execution of the approved CSR Projects/Programs in accordance with this Policy. (e) At the end of each financial year, the CSR Committee will submit its report to the Board
which shall form part of the Directors’ Report to the members of the Company. 6. CSR Expenditure
CSR expenditure will include all expenditure, direct and indirect, incurred by the Company on CSR Programs undertaken in accordance with the approved CSR Plan. Moreover, any surplus arising from any CSR Programs or in a particular financial year will be used for Company’s CSR activities activities only. Leadership Positioning
Luminous Pvt. Ltd. Co. Gagret, Una : “A Dynamic company catering high quality Inverters, UPS, Batteries and Renewable Energy Products to the burgeoning demand of fast growing economy.”
Bridge Building Meetings
We would line up select relationship meetings for identified key spokesperson(s), in cities they would be traveling to. Corporate Stories
Initiate Stories in identified media talking about the Commitment and investment in Indian Market, Growth, and Future Plans Highlighting Market share, Financial Results Supported with World class manufacturing plants Demonstrating the strong network of Channel Partners and Suppliers
Industry Participation Participation
Positioning the company spokesperson Industry Leader by participating in key events Highlight Group’s CSR initiatives / Riding on Green Technology Promote the corporate responsibility of the company towards the society and Environment Initiatives undertaken
Promote CSR as Group’s philosophy of giving back t o the society and Mother Nature Nat ure Create TOMA
Highlighting the company as one of the best place to work. Initiate HR stories in media on: The great future planners turning dream into reality Innovative HR policies
Luminous people on the task of powering the nation Positioning in Industry Stories Positioning LUMINOUS as a leading power and Energy Storage Company in all the key industry stories onConsumer Trends Trade Special Editions on Infrastructure and Living Other prevailing story opportunities in media Some Power Initiatives Luminous walk through with NDTV Profit Special Corporate program that highlights the achievement / milestones / its distinct brand positioning
Half an hour paid program aired twice with 25 promos Luminous special series on power industry on NDTV profit The Idea: To tie up with NDTV to create a platform for a specialized 12 part series on power
industry and Green technology Objective: The program aims to bring together some of the best minds in the domain,
Business leaders, environment conservationists to discuss the opportunities and challenges. Impact- Luminous will get a greater visibility and branding opportunity as a leading power
and Energy Storage provider committed toward the th e Environment and society Company India Economic Conclave on CNBC TV 18 Conclave- India’s single most powerful The Idea: Luminous presents India Economic Conclave-India’s platform Theme- Building Modern and developed India Objective: The programs aim to bring together the leaders, the Visionaries, the Powerful, the
Influential, the decision makers. The Strategy: A series of feature shows & panel discussions as a build up to the conclave
followed by the Conclave as a culmination to the series, where representatives of the Government, industry & the consumers will be present. Spokesperson Profiling showcasing Credibility and industry leadership Establish Key spokesperson as the Industry Icon and visionary Brand and Event PR To Showcase the PRODUCT OFFERING of Luminous and generating BRAND AWARENESS by highlighting every individual product/brand in the right competiti ve set. BY HIGHLIGHTING Product Credentials Latest path breaking features. International standards
Utility, Comfort, Quality standards followed. Product Successes Critical acclaim received by products in portfolio. Success stories. Sales Performance Product Superiority New Product launches, Product Reviews Customer testimonial Positioning in the right competitive set Credibility and Leadership Stance Establish key spokespeople as visionaries in the industry. Segmented media positioning Electronic- Stories and special programs on New Product launches and new marketing strategies followed with consumer oriented programs Special stories and industry inputs on the need and rapidly changing consumer trends in Business, Lifestyle, Real Estate, Retail Retai l and Trade magazines on various story pegs Regional Media- Marketing based events and product announcements to appear in all region specific print, electronic and vernacular media of specific city Optimization of the Brand Ambassador Press conference
One-on-one interviews Participation in certain road shows for photo opportunities & key messaging Interviews with certain key international media
PR Coverage in media with respect to all publicity campaigns that is envisaged with him Riding On Sachin Stories in Branding and marketing supplements on the enhancing graph of brand valueRational behind Sachin Stories appealing the Nations spirit-connecting the Brand Anchor A nationwide campaign to leverage the Brand Anchor’s pull factor Dealer/ Channel partner meets Highlighting Luminous Pvt. Ltd. Co. Gagret, Una investments in channel development and its growth. Showcasing Luminous brand as the synonym of highest standards of reliability, performance and consistency. Demonstrating the Channel partners involvement to work synergistically to set new performance benchmarks for Indian Energy storage and power backup industry. PRODUCT 1. HOME UPS: Home ups are devices that convert the direct current (dc) of powerful on-
board inverter batteries to alternating current (ac) for running fans, lights and other electrical appliances and also charge the battery when there is power availability simultaneously. Over
last
two
decades,
Luminous
has
introduced
a
number
of
highly
effective home ups models that have changed the way power back back up equipment were looked at in India. India always focused on customer-centric innovation. Luminous products have succeeded in becoming benchmarks for the entire industry while offering excellent
value to the customers.
2. ELECTRIC BATTERY: An electric battery is a device consisting of one or more
electrochemical cells that convert stored chemical energy into electrical energy. Each cell contains a positive terminal, or cathode, and a negative terminal, or anode.
Over the time, batteries have lived up to the promise of delivering a reliable solution for the power outages productivity in the commercial environment and helped people have continuity and comforts in their lives. Luminous offers inverter batteries, VRLA/SMF batteries along with batteries batte ries for solar applications. We have heavy heav y duty traction batteries in our product basket as well. 3. SOLAR TECHNOLOGIES: Solar technologies are broadly characterized as either
passive or active depending on the way they capture, convert and distribute sunlight. Active solar techniques use photovoltaic panels, pumps, and fans to convert sunlight into useful outputs. 4. MODULAR SWITCHES: Luminous Clara switches unite elegance and practicality in a
modular package. Silver-inlayed contacts and durable dollies with a spring-fee mechanism are built to withstand extensive wear and tear, and will not malfunction from ordinary use. It’s It’s all small details that set Luminous Clara Clara apart like fan regulatory knobs that turn equally smoothly in both directions, and LED indicators that last 10,000 burning hours. 5. SOLAR POWER PRODUCTS: Solar technologies are broadly characterized as either
passive or active depending on the way. They capture, convert and distribute sunlight. Active solar techniques use photovoltaic panels, pumps, and fans to convert sunlight into useful output. Passive solar techniques include selecting materials with favourable thermal properties, designing spaces that naturally circulate air, and referencing the position of a building to the sun. 6. WIND POWER AND WIND SOLAR HYBRID SYSTEM: We design and
manufacture small wind power and wind solar hybrid systems that efficiently convert the power of wind and solar resources for electricity generation at remote off grid location and provide low cost power when used as grid connection installations.
CHAPTER 2 RESEARCH METHODOLOGY
RESEARCH METHODOLOGY
Research Methodology is a systematic way to solve a problem. It is a science of studying how research is to be carried out. Essentially, the procedures by which researchers go about their work of describing, explaining and predicting phenomena are called research methodology. The present research methodology consist the following things:- Need of the study, scope, objective, Data collection, Sample Design, Analysis Instruments. The detailed description is given under the following heads:-
Needs of the Study:- In this present era there is few changes in market place where we can see lot of changes in corporate world here there is a change in work culture, nature of of job and professionalism in every walk of life so in this scenario there is a one main thing which effect our society ie. Business ethics is a form of applied ethics or professional ethics that examines ethical principle and moral or ethical problems that arise in a business environment.
Scope of the Study:The present scope of the study is restricted to the employees’ working in Luminous Pvt. Ltd. Co. Gagret, Una.
Objectives of the Study:1.) To get inside in the business ethics implementation in the Luminous Pvt. Ltd. Co. Gagret,
Una. 2.) To measure the satisfaction level of employees regarding business ethics implemented in
their company. 3.) To provide the suggestive measures to the management of Luminous Pvt. Ltd. Co.
Gagret, Una.
Research Design: - A research design is all overall plan or programme of research. It does not consist an ordered step-by-step procedure but gives an outline of what the researcher will do from writing hypothesis to the final analysis of data.
“Research Design is a blueprint for conducting a study with maximum control over factors that may interfere with the validity validit y of the findings.” The present Research Design consist three Decisions:- Data collection, Sample design and
Data analysis.
Data Collection: - Data collection is the process of gathering and measuring information on targeted variables in an established systematic fashion, which enable one to answer relevant questions and evaluate outcomes.
Types of data: Types of Data
Primary Data
Secondary Data
1.) Primary Data: These are the data originally or iginally collected for an investigation. These types t ypes of
data are original in character because these are collected by field workers, enumerators, investigators for the first time for their own use. Methods of collection of primary data:1. Questionnaire Method 2. Observations Method 3. Interview Method 4. Scheduling Method For the present study purpose questionnaire questionnaire method is used to collect the primary data. This questionnaire is self administrated questionnaire and it is divided into two sections: Section A and section B. Section A consist questions regarding personal information. Eg:-Name, age, gender, marital status, qualification, etc. Section B consist the questions which fulfil the research objectives and it contains 15 questions.
2.) Secondary Data: These are collected from published or unpublished sources. Such data
are also known as second hand data. Methods of collection of secondary data:1.) Book 2.) Journals 3.) Thesis 4.) Magazines 5.) Other records
For the present study purpose books, journals and magazines are used to collect the secondary data.
Sample Design: It describes the various sampling method to be used for selecting subject for study. Sample Design consist the decision regarding universe of study- sample size, sample technique, sample unit.
Universe of the Study For the present study purpose Luminous Pvt. Ltd. Ltd. Co. Gagret, Una. considered as a universe of the study.
Sample Size: For the present study purpose 100 Employees working in the Luminous Pvt. Ltd. Co. Gagret, Una.
Sampling Technique: - For the present study purposes convenience sampling is used which is non probability sampling.
Sample Unit: Sample unit consist the Managers, Workers and Technician. Data Analysis: The data which is collected with the help of questionnaire method is firstly recorded in Ms-excel sheet & then other is analysis with the help of percentage method to draw the meaningful information which is further presented with the help of table, bar diagram and pie chart. Percentage Method: This method is used to draw specific inference from the collected data
that fulfil the objectives of the study entitled as “ A study on Ethics in Business Organisation at Luminous Pvt. Ltd. Gagret Una. ”
Formula:- P= Q/R *100
P= Reading in % Q= Number of respondent falling in specific to the measure. R= Total number of respondent or it the population as a whole. Limitations of the Study:
The present study has following limitations: 1.) Limited Time: Limited time of the respondents for giving the relevant may be a limitation for the present study. 2.) Secrecy: Secrecy regarding the information about the company may pose another
problem in the study. 3.) Less Sincerity: Si ncerity: Officers may be too busy to give sincere response to the questionnaire. 4.) Sample Size: Sample size may just cover only a small portion of whole population of
Luminous Pvt. Ltd. Co. Gagret, Una.
QUESTIONNAIRE
Dear Respondents, I am pursuing B.com from Gautam Girls College, Hamirpur. I am preparing report on " A Study on Ethics in Business Organisation at Luminous Pvt. Ltd. Co. Gagret, Una " for the fulfillment of the B.com. I request you to please support me by filling this questionnaire and help me in my research work. The information provided by you will be kept confidential and it will be used only for research work. Part A: The following questions are about your personal information. Please choose the answer best represent you. Q.1. Name Q.2. Age
a). 18-28 b). 28-38 c). 38-48 d).48-58 Q.3. Gender
a). Male b). Female Q.4 Qualification
a). Matric b). Senior Secondary c).Graduate d). Post graduate
Q.5. Marital status
a). Married b)Unmarried Q.6. Salary
a). Less than 15000 b). 15000-25000 15000-25000 c). More than 25000 Q.7. Department Department
a). H.R b). Finance c). Production d). Marketing Q.8. Experience
a). 1-3 years b). 3-7 years c). 7-14 years d). 14-18 years e). More than 18 years Part B: This section measures whether respondents feel that the below mentioned factors
affect business ethics or not. Please tick ( ) the degree of your agreement using the following indicator. 9.) Are you aware about the business ethics?
(
) Yes
(
) No
10.)
Does your company provide equal remuneration remuneration for equal work?
(
) Yes
11.)
(
) No
Does your company work on the Principle ‘Equity given by Henry Fayol’?
(
) Yes
12.)
(
) No
Does your boss/superior given proper exact recognition for your work?
(
) Yes
13.)
(
) No
Does your boss give equal importance to all workers?
( 14.)
) Yes
(
) No
Is there any role in your company to protect the interest of female employees?
( 15.)
) Yes
(
) No
Does you think business ethics affects your performance?
( 16.)
) Yes
(
) No
Do you think your think your organisation on work according to rule and regulations?
( 17.)
) Yes
(
) No
Do you think a written statement of policies and principles guide the behaviour
of all employees? employees?
( 18.)
) Yes
(
) No
Does supervisors behaviour shape the ethical behaviour of the members of an
organisation?
( 19.)
) Yes
20.)
) Agree
) Yes
) Disagree
(
) No
Does your Business is Environmental Environmental friendly?
(
) Yes
(
) No
Do you think business ethics should be followed by organisation?
( 23.)
(
Does your organisation have procedure for reporting unethical behaviour?
(
22.)
) No
Do you think ethics helps in achievement achievement of organisational goals?
(
21.)
(
) Yes
(
) No
Do you have good relationship with superior and subordinates?
(
) Yes
(
) No
CHAPTER 3 Data collected from various respondents has to be analyzed for drawing conclusion. So in this chapter efforts have been made to analyze and interpret the collected data towards A study on Ethics in Business Organisation at Luminous Pvt. Ltd. Co. Gagret, Una. First of all, the collected data has been present in tabular form and thereafter, it is analyzed with the help of percentage and pie-chart. A brief description of analysis and interpretation is given in this chapter.
In Table No. 3.1 an attempt has been made to classify the respondents on the basis of gender factor. Table No. 3.1
Classification of respondents on the basis of gender factor
Sr.No.
Gender
No. of Respondents
Percentage (%)
1.
Male
65
65
2.
Female
35
35
Total
100
100
Source: - Data collection through Questionnaire method.
Classification of Respondents on the basis of gender factor.
Gender
35 Male Female 65
Fig No.3.1
From the above Table it is cleared that majority of the respondents i.e., 65% male whereas 35% respondents are female. Thus it can be concluded that there is a preponderance of male respondents over the female.
In Table No. 3.2 an attempt has been made to classify the respondents on the basis of their qualification for the presence presence study purpose purpose the qualification of the respondents respondents has been divided into four categories Namely, metric, senior secondary, graduation, post graduation. The description of this is as below: Table No. 3.2
Classification of respondents on the basis of their qualification Sr. No. 1.
Qualification Qualifi cation
No. of Respondents
Matric
2.
Senior Secondary
30
3.
Graduation
25
4.
Post-Graduation
10
10
100
100
35
Total
Percentage (%)
35 30 25
Source:- Data collected through Questionnaire method
Classification of Respondents on the basis of their qualification
10
35 25
Matric Senior Secondary Graduation Post-Graduation
30
Fig No.3.2
From the above table and figure it is depicted that the majority of the respondents i.e., 35% matriculate. Which is closely followed by the respondents who have senior secondary? Thus it can be concluded that majority of the respondents are matriculate whereas minority of the respondents are graduated and post graduated.
In Table No. 3.3 an attempt has been made to classify the respondents on the basis of age factor. Table No. 3.3
Classification of respondents on the basis of age. Sr.No.
Age group
No. of Respondents
Percentage (%)
1.
18-28
15
15
2.
28-38
40
40
3.
38-48
20
20
4.
48-58
25
25
100
100
Total
Source:- Data collection through Questionnaire method.
Classification of respondents on the basis of age.
Age
15 25 18-28 28-38 38-48 20
40
48-58
Fig No.3.3
From the above table and figure it is clear that 15% of the respondents are in the age group of 18-28 years, 40% of the respondents are in the age group of 28-38 years, 20% of the respondents are in the group of 38-48 years and 25% of the respondents are in the group of 48-58 years.
In Table No. 3.4 an attempt has been made to classify the respondent on the basis of the married or unmarried status for the presence study purpose the marital status of the respondents has been divided into two categories married, unmarried. The description of this is as below: Table No. 3.4
Classification of respondents on the basis of their marital status. Sr.No.
Marital Status
No. of Respondents
Percentage (%)
1.
Married
36
36
64
64
100
100
2.
Unmarried Total
Source:- Data collection through Questionnaire method.
Classification of respondents on the basis of their merit status.
Marital Status
36 Married Unmarried 64
Fig No.3.4
From the above table and figure it is clear that 36% respondents are married whereas 64% respondents are unmarried. Thus it can be concluded that there is a preponderance of unmarried respondents over the married.
In Table No. 3.5 an attempt has been made to classify the respondents on the basis of their salary. Table No. 3.5
Classification of respondents on the basis of their salary.
1. 2. 3. 4. Total
Level of salary
No. of Respondents
Percentage Percentage (%)
Less than 15000
27
27
32
32
30 11 100
30 11 100
15000-25000 25000-30000 More than 30000
Source:- Data collection through Questionnaire method.
Classification of respondents on the basis of their salary.
Salary
11 27 Less than 15000 15000-25000 30
25000-30000 More than 30000
32
Fig No.3.5
From the above table it is clear that 27% respondents got their salary less than 15000, 32% respondents got their salary salar y 15000-25000, 30% respondents got their salary 25000-30000 and 11% respondents got their salary more than 30000. Thus it can be concluded that majority of the respondents get their salary 15000-25000 and minority of the respondents got their salary more than 30000.
In Table No.3.6 an attempt has been made to classify the respondents on the basis of department factor. Table No.3.6
Classification of respondents on the basis of department. Sr No.
1. 2. 3. 4.
Department
HR Finance Marketing Production Total
No. of Respondents
23 30 27 20 100
Percentage (%) 23 30 27 20 100
Source:- Data collected through questionnaire method. Classification of respondents on the basis of department.
Fig No.3.6
From the above table it is depicted that the majority of the respondents in the Finance department and miner of the respondents in production department. Thus it can be concluded that there is a preponderance of finance department over the production department.
In Table No. 3.7 an attempt has been made to classify the respondents on the basis of their experience. Table No.3.7
Classification of respondents on the basis of their experience. Sr. No. 1. 2. 3. 4. 5.
No. of years of experience No. of Respondents 1-3 years 12 3-7 years 22 7-14 years 16 14-18 years 28 More than 18 years 22 Total 100 Source:- Data collected through Questionnaire method.
Percentage (%) 12 22 16 28 22 100
Classification of respondents on the basis of their experience.
Experience 1-3 years, 12 More than 18 years, 22 3-7 years, 22 14-18 years, 28
7-14 years, 16
Fig No.3.7
From the above table and figure it is clear that majority of respondents i.e. 28% have 14-18 years’ experience i.e. followed by 22% and 22% which have experience of 3 -7 years and more than 18 years followed by 16% of respondents having 7- 14 years’ experience, which is followed by 12% of respondents which have experience 1-3 years.
In Table No. 3.8 an attempt has been made to classify the respondents on the basis of their response for awareness about the business ethics. Table No.3.8
Classification of respondents on the basis of their response for awareness about the business ethics. Sr.no. Response Yes 1. No 2. Total Source:- Data collection through Questionnaire method.
No. of Respondents 82 12 100
Percentage (%) 82 12 100
Classification of respondents on the basis of their response for awareness about the business ethics.
No. of Respondents 12
yes 82
no
Fig No.3.8
From the above table and figure it is clear that majority of the respondent i.e., 82% respondents say yes and 12% respondents say no towards awareness about business ethics. Thus it can be concluded that majority of the respondent say yes whereas minority of the respondents say no towards Awareness about business ethics.
In Table No. 3.9 an attempt has been made to classify the respondents on the basis of their response for remuneration for equal work. Table No.3.9
Classification of respondents on the basis of their response for remuneration for equal work. Sr. No. Response No. of Respondents Yes 69 1. No 31 2. Total 100 Source:- Data collection through Questionnaire method.
Percentage (%) 69 31 100
Classification of respondents on the basis of their response for remuneration for equal work.
31
69
Yes No
Fig No. 3.9
From the above table and figure it is clear that majority of the respondent i.e., 69% respondents say yes and 31% respondents say no towards remuneration for equal work. work. Thus it can be concluded that majority of the respondent say yes whereas minority of the respondents say no towards remuneration for equal work.
In Table No. 3.10 3.10 an attempt has been made to classify the respondents on the basis of their response for work on the principle of equity. Table No.3.10
Classification of respondents on the basis of their response for work on the principle of equity. Response Yes No
No. of Respondents 54 1. 46 2. Total 100 Source:- Data collection through Questionnaire method.
Percentage (%) 54 46 100
Classification of respondents on the basis of their response for work work on the principle principle of equity.
No. of Respondents
46 54
Yes No
Fig No. 3.10 From the above table and figure it is clear that majority of the respondent i.e., 54% respondents say yes and 46% respondents say no towards work on the principle equity. Thus it can be concluded that majority of the respondent say yes whereas minority of the respondents say no towards work on the principle equity.
In Table No. 3.11 an attempt has been made to classify the respondents on the basis of their response for recognition for work. Table No.3.11
Classification of respondents on the basis of their response for recognition for work. Response
No.of respondents
Percentage (%)
1.
Yes
64
64
2.
No
36
36
100
100
Total
Source:- Data collection through Questionnaire method. Classification of respondents on the basis of their response for recognition for work.
No. of Respondents
36
Yes 64
No
Fig No. 3.11
From the above table and figure it is clear that majority of the respondent i.e., 64% respondents say yes and 36% respondents say no towards recognition for work. Thus it can be concluded that majority of the respondent say yes whereas minority of the respondents say no towards recognition for work.
In Table No. 3.12 an attempt has been made to classify the respondents on the basis of their response for importance to all workers. Table No.3.12
Classification of respondents on the basis of their response for importance to all workers. Response Yes No
No. of Respondents 1. 88 2. 12 Total 100 Source:- Data collection through Questionnaire method.
Percentage (%) 88 12 100
Classification of respondents on the basis of their response for importance to all workers.
No. of Respondents 12
Yes No 88
Fig No. 3.12
From the above table and figure it is clear that majority of the respondent i.e., 88% respondents say yes and 12% respondents say no towards importance to all workers. Thus it can be concluded that majority of the respondent say yes whereas minority of the respondents say no towards importance to all workers.
In Table No. 3.13 an attempt has been made to classify the respondents on the basis of their response for protect the interest of female employees. Table No.3.13
Classification of respondents on the basis of their response for protect the interest of female employees. Sr. No. Response No. of Respondents 1. Yes 86 2. No 14 Total 100 Source:- Data collection through Questionnaire method.
Percentage (%) 86 14 100
Classification of respondents on the basis of their response for protect the interest of female employees.
No. of Respondents
14
Yes No 86
Fig No. 3.13
From the above table and figure it is clear that majority of the respondent i.e., 86% respondents say yes and 14% respondents say no towards protect the interest of female employees. Thus it can be concluded that majority of the respondent say yes whereas minority of the respondents say no towards protect the interest of female employees.
In Table No. 3.14 an attempt has been made to classify the respondents on the basis of their response for performance. Table No.3.14
Classification of respondents on the basis of their response for performance. Sr. No.
Response
No. of Respondents
Percentage (%)
1.
Strongly Agree
32
32
2.
Agree
29
29
3.
Disagree
22
22
4.
Strongly Disagree
17
17
100
100
Total
Source:- Data collection through Questionnaire method. Classification of respondents on the basis of their response for performance.
No. of Respondents 17
32
22
Strongly Agree Agree Disagree
29
Strongly Disagree
Fig No. 3.14
From the above table and figure it is depicted that majority of the respondent i.e., 32 % respondents are strongly agree, 29% respondents are agree, 22% respondents are disagree and 17% respondents are strongly disagree towards performance. Thus it can be concluded that majority of the respondent are strongly agree whereas minority of the respondents are strongly disagree towards performance.
In Table No. 3.15 an attempt has been made to classify the respondents on the basis of their response for promotion. Table No.3.15
Classification of respondents on the basis of their response for promotion. Sr. No. Response No. of Respondents 1. Yes 82 2. No 18 Total 100 Source:- Data collection through Questionnaire method.
Percentage (%) 82 18 100
Classification of respondents on the basis of their response for promotion.
No. of Respondents
18
Yes No 82
Fig No. 3.15
From the above table and figure it is clear that majority of the respondent i.e., 82% respondents say yes and 18% respondents say no towards promotion. Thus it can be concluded that majority of the respondent say yes whereas minority of the respondents say no towards promotion.
In Table No. 3.16 an attempt has been made to classify the respondents on the basis of their response for rules and regulations. Table No.3.16
Classification of respondents on the basis of their response for rules and regulations. Sr. No. Response No. of Respondents 1. Yes 77 2. No 23 Total 100 Source:- Data collection through Questionnaire method.
Percentage (%) 77 23 100
Classification of respondents on the basis of their response for rules and regulations.
No. of Respondents
23
Yes No 77
Fig No. 3.16
From the above table and figure it is clear that majority of the respondent i.e., 77% respondents say yes and 23% respondents say no towards rules and regulations. Thus it can be concluded that majority of the respondent say yes whereas minority of the respondents say no towards rules and regulations.
In Table No. 3.17 an attempt has been made to classify the respondents on the basis of their response for policies and principles guide the behaviour of all employees. Table No.3.17
Classification of respondents on the basis of their response for policies and principles guide the behaviour of all employees. Sr. No. Response No. of Respondents 1. Yes 65 2. No 35 Total 100 Source:- Data collection through Questionnaire method.
Percentage (%) 65 35 100
Classification of respondents on the basis of their response for policies and principles guide the behaviour of all employees.
No. of Respondents
35
Yes 65
No
Fig No. 3.17
From the above table and figure it is clear that majority of the respondent i.e., 65% respondents say yes and 35% respondents say no towards policies and principles guide the behaviour of all employees. Thus it can be concluded that majority of the respondent say yes whereas minority of the respondents say no towards policies and principles guide the behaviour of all employees.
In Table No. 3.18 an attempt has been made to classify the respondents on the basis of their response for supervisors’ behaviour shapes ethical behaviour of the members. Table No.3.18
Classification of respondents on the basis of their response for supervisors’ behaviour shapes ethical behaviour of the members. Sr. No.
Response
No. of Respondents
Percentage (%)
1.
Yes
49
49
2.
No
51
51
100
100
Total
Source:- Data collection through Questionnaire method. Classification of respondents on the basis of their response for supervisors’ behaviour shapes ethical behaviour of the members.
No. of Respondents
49 51 Yes No
Fig No. 3.18
From the above table and figure it is i s clear that 49% respondents sa y yes and 51% respondents say no towards supervisors’ behaviour shapes ethical behaviour of the members. Thus it can be concluded that majority of the respondent say no whereas minority of the respondents say yes towards supervisors’ behaviour shapes ethical behaviour of the members.
In Table No. 3.19 an attempt has been made to classify the respondents on the basis of their response for achievement of organisational goals. Table No.3.19
Classification of respondents on the basis of their response for achievement of organisational goals. Sr. No.
Response
No. of Respondents
Percentage (%)
1.
Agree
43
43
2.
Disagree
57
57
100
100
Total
Source:- Data collection through Questionnaire method. Classification of respondents on the basis of their response for achievement of organisational goals.
No. of Respondents
43 Agree
57
Disagree
Fig No. 3.19
From the above table and figure it is clear that 43% respondents are agree and 57% respondents are disagree towards the achievement of organisational goals. Thus it can be concluded that majority of the respondent are disagree whereas minority of the respondents are agree towards the achievement of organisational goals.
In Table No. 3.20 an attempt has been made to classify the respondents on the basis of their response for environmental friendly. Table No.3.20
Classification of respondents on the basis of their response for environmental friendly. Sr. No.
Response
No. of Respondents
Percentage (%)
1.
Yes
63
63
2.
No
37
37
100
100
Total
Source:- Data collection through Questionnaire method. Classification of respondents on the basis of their response for environmental friendly.
No. of Respondents
37
Yes 63
No
Fig No. 3.20
From the above table and figure it is clear that 63% respondents say s ay yes and 37% respondents say no towards environmental friendly. Thus it can be concluded that majority of the respondent say yes whereas minority of the respondents say no towards environmental friendly.
In Table No. 3.21 an attempt has been made to classify the respondents on the basis of their response for business ethics followed by organisation. Table No.3.21
Classification of respondents on the basis of their response for business ethics followed by organisation. Sr. No.
Response
No. of Respondents
Percentage (%)
1.
Agree
61
61
2.
Disagree
39
39
100
100
Total
Source:- Data collection through Questionnaire method. Classification of respondents on the basis of their response for business ethics followed by organisation.
No. of Respondents
39
61
Agree Disagree
Fig No. 3.21
From the above table and figure it is clear that 61% respondents are agree and 39% respondents are disagree towards business ethics followed by organisation. Thus it can be concluded that majority of the respondent are disagree whereas minority of the respondents are agree towards business ethics followed by organisation.
In Table No. 3.22 an attempt has been made to classify the respondents on the basis of their response for good relative with superior and subordinates. Table No.3.22
Classification of respondents on the basis of their response for good relative with superior and subordinates. Sr. No.
Response
No. of Respondents
Percentage (%)
1.
Yes
87
87
2.
No
13
13
100
100
Total
Source:- Data collection through Questionnaire method. Classification of respondents on the basis of their response for good relative with superior and subordinates.
No. of Respondents 13
Yes No 87
Fig No. 3.22
From the above table and figure it is i s clear that 87% respondents sa y yes and 13% respondents say no towards the good relative with superior and subordinates. Thus it can be concluded that majority of the respondent say yes whereas minority of the respondents say no towards the good relative with superior and subordinates.
In Table No. 3.23 an attempt has been made to classify the respondents on the basis of their response for unethical behaviour. Table No.3.23
Classification of respondents on the basis of their response for unethical behaviour. Sr. No.
Response
No. of Respondents
Percentage (%)
1.
Yes
76
76
2.
No
24
24
100
100
Total
Source:- Data collection through Questionnaire method. Classification of respondents on the basis of their response for unethical behaviour.
No. of Respondents
24
Yes 76
No
Fig No. 3.23
From the above table and figure it is clear that 76% respondents r espondents say yes and 24% respondents say no towards unethical behaviour. Thus it can be concluded that majority of the respondent say yes whereas minority of the respondents say no towards unethical behaviour.
CHAPTER – CHAPTER – 4 4 SUMMARY, FINDINGS, CONCLUSION AND SUGGESTIONS
SUMMARY Business ethics is a form of applied ethics or professional ethics that examines ethical principles and moral or ethical problems that arise in a business environment. It applies to all aspects of business conduct and is relevant to the conduct of individuals and entire organizations. Business ethics has normative and descriptive dimensions. As a corporate practice and a career specialization, the field is primarily normative. The term 'business ethics' is used in a lot of different ways, and the history of business ethics will vary depending on how one conceives of the object under discussion. The history will also vary somewhat on the historian — how how he or she sees the subject, what facts he or she seeks to discover or has at hand, and the relative importance the historian gives to those facts. The primary sense sens e of the term te rm refers to recent r ecent developments and to the period, since roughly the early 1970s, when the term 'business ethics' came into common use in the United States. Its origin in this sense is found in the academy, in academic writings and meetings, and in the development of a field of academic teaching, research and publication. The "ethics in business" sense of business ethics. In this broad sense ethics in business is simply the application of everyday moral or ethical norms to business. Perhaps the example from the Bible that comes to mind most readily is the Ten Commandments, a guide that is still used by many today. In particular, the injunctions to truthfulness and honesty or the prohibition against theft and envy are directly applicable. Ethics is a branch of social science. It deals with moral principles and social values. It helps us to classify, what is good and what is bad? It tells us to do good things and avoid doing bad things. So, ethics separate, good and bad, right and wrong, fair and unfair, moral and immoral and proper and improper human action. In short, ethics means a code of conduct. It is like the 10 commandments of holy Bible. It tells a person how to behave with another person. They must encourage competition in the market. They must protect the interest of small businessmen. They must avoid unfair competition. They must avoid monopolies. They must pay all their taxes regularly to the government. In short, business ethics means to conduct business with a human touch in order to give welfare to the society. Following people were approaches to collect the relevant data:
Managers,
Workers,
Technician.
This study was carried out with the following objective: 1.) To get inside in the business ethics implementation in the Luminous Pvt. Ltd. Co. Gagret,
Una. 2.) To measure the satisfaction level of employees regarding business ethics implemented in
their company. 3.) To provide the suggestive measures to the management of Luminous Pvt. Ltd. Co.
Gagret, Una. In this study convenience sampling technique has been used to reach the final sample. As a final sample 100 respondents has been approached and to collect valuable information questionnaire method are used. For the purpose of analysis of collected information or data, percentage method was used. This study has a great importance because we got to know that most of the employees are not aware of the various factors that play an important role in the ethics in business organisation. By conducting various programs in organisation we can ask them to work on those companies which would help them in improving their abilities at personal as well as on organisational level.
FINDINGS In this study following finding were emerged:
Majority of respondents are male i.e.65%.
Majority of the respondents are matriculate i.e. i .e. 35%.
Majority of respondents belongs to the age group 28-38 years.
Majority of respondents are unmarried i.e. 64%.
Majority of respondents are getting the salary salar y from 15000-25000.
Majority of respondents i.e. 30% are from the finance department.
Majority of respondents i.e. 28% have an experience of 14-18 years.
Majority of the respondent i.e., 82% respondents say yes towards awareness about business ethics.
Majority of the respondent i.e., 69% respondents say yes towards remuneration for equal work.
Majority of the respondent i.e., 54% respondents say yes towards work on the principle equity.
Majority of the respondent i.e., 64% respondents say yes towards recognition for work.
Majority of the respondent i.e., 88% respondents say yes towards importance to all workers.
Majority of the respondent i.e., 86% respondents say yes towards protect the interest of female employees.
Majority of the respondent i.e., 32 % respondents are strongly agree towards performance.
Majority of the respondent i.e., 82% respondents say yes towards promotion.
Majority of the respondent i.e., 77% respondents say yes towards rules and regulations.
Majority of the respondent i.e., 65% respondents say yes towards policies and principles guide the behaviour of all employees.
Majority of the respondent i.e., 51% respondents say no towards supervisors’ behaviour shapes ethical behaviour of the members.
Majority of the respondent i.e., 57% respondents are disagree towards the achievement of organisational goals.
Majority of the respondent i.e., that 63% respondents say yes and towards environmental friendly.
Majority of the respondent i.e., 61% respondents are agree towards business ethics followed by organisation.
Majority of the respondent i.e., 87% respondents say yes towards the good relative with superior and subordinates.
Majority of the respondent i.e., 76% respondents say yes towards unethical behaviour.
CONCLUSION Ethics are the building block of our society and thus should be the building block of our cooperation. If you built that foundation, both the moral and the ethical foundations, as well as the business. Then the building wouldn’t crumble. It is not essential to let greed cloud judgment. It can be b e concluded that it is the high time ti me business ethics should be practices all over the globe in the benefit of the common society as described in the paper. It is not only in the favour of the mass but also has advantages for the corporate.
Suggestions
Clear expectations for what is ok and not ok.
Modelling desired behaviour especially from organisational leaders.
Reinforce the behaviour you want and don’t reinforce the behaviour that you don’t want.
Focus on skill building and problem solving.
Provide the tools needs to act ethically.
Provide corrective feedback.
