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Section Y Group 2U112100 – R.S.Girish

U112101– Rahul Nayak

U112102 – Ramya NU112103 – Rishabh Goel

U112104 – S.SubramanianU112105 - Saisha Shukla

U112106 - Samikhya Joshi

U112211– BES Lou

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Failure of MarketsMoral hazard, Inappropriate macroeconomic politics, Excessivespeculation (property and stock market)

Failure of Institutions

Inefficient functioning of the regulatory and supervisory systems,an inadequate legal and financial infrastructure, lack ofaccountability and/or transparency and inadequate standards infinancial reporting

Failure of Moral Values

Lies at the core of the failure of the markets and institutions. Suchfailures include casino-capitalism and corruption, lack oftruthfulness, trust and social responsibility, and excessive greedof the investors or institutions, falsified balance sheets and illegalmanipulation of the markets.

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Economic System is rewarding for themselves and forthose whom they feel responsible in any way

Economic participation and social justice are integralparts of the objectives of the economic system

A strong ethical framework supports both theoperation and effects of the global markets and theextra market institutions. It influences the behaviorand the decisions of those who are directly involved inthe process of production and distribution and ofthose who bear political responsibility.

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Basic ValuesHumanityReciprocity

Core ValuesRespect for LifeNon-ViolenceSolidarity

JusticeToleranceTruthfulnessEqualityPartnership

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ObjectionsCompetitors with less scruples winManagement tend to avoid risks rather than search forunconventional solutions

AdvantagesLong Term Goals > Short Term GoalsStability and consistency of organization structure improved Attracts qualified personnel with professional and socialcompetences

Positive influence on prices, goals, compositions and character ofshareholdersResults in stable and reliable suppliers and buyersImprovement in socio-political acceptance and imageImprovement in quality of products

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Acceptance and Practice of UN Global CompactOrdinary People should promote and practice globalethic

Seven Social Sins in today’s world – Mahatma Gandhi Wealth Without WorkConsumption Without ConscienceKnowledge Without Character

Business Without MoralityScience Without HumanityReligion Without SacrificePolitics Without Principle

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