LPG IN BUSINESS ETHICS

PRESENTED BY:-

GIRIJA PRASANNA MALLICK

Indian economy had experienced major policy changes in early 1990s. The new economic reform, popularly known as, Liberalization, Privatization and Globalization (LPG model) aimed at making the Indian economy as fastest growing economy and globally competitive. The series of reforms undertaken with respect to industrial sector, trade as well as financial sector aimed at making the economy more efficient.

INTRODUCTION

is the behavior that a business adheres to in its daily dealings with the world. The ethics of a particular business can be diverse. They apply not only to how the business interacts with the world at large, but also to their one-on-one dealings with a single customer.

Ethics are moral guidelines which govern good behaviour .So behaving ethically is doing what is morally right.Behaving ethically in business is widely regarded as good business practice.

business ethics

economic liberlisation is a very broad term that usually refers to fewer government regulations and restrictions in the economy in exchange for greater participation of private entities.

LIBERLISATION

measures taken for liberlisation:

freedom for expansion and production to industries. increase in the investment limit of the small industries. freedom to import the capital goods and raw materials. freedom to import technology. liberlisation of export and import transactions. liberlisation in taxation policy. liberlisation in capital markets. liberlisation in banking sector. increase the foreign investment. increase the foreign exchange reserve. increase in consumption. control over price. check on corruption. reduction in dependence on external commercial

borrowings.

benefits of liberlisation::

increase the foreign investment. increase the foreign exchange reserve. increase in consumption. control over price. check on corruption. reduction in dependence on external

commercial borrowings.

limitations of liberlisation:

increase in unemployment. loss to domestic units increase dependence on foreign nations. unbalanced development. increase the imbalances.

privatisation is the process of transfering ownership of a business,enterprise agency,or public service from the government to the private sector.in a broader sense,privatisation refers to the private sector including governmental functions like revenue collection and law enforcement.

privatization::

contractions of public sectors. sales shares of public sectors to the private

sector. sick public sector industries. memorandun of understanding. national renewal fund.

measures adopt for privatisation:

increase in efficiency. professional management. increase in competition. in line with international trends. reduction in political interference. encourage to new innovations. increase the industrial growth. increase the foreign investment. reduction in public sector.

advantages of privatisation.

industrial sickness. lack of welfare. class struggle. increase in inequality. opposition by employees. political pressure. increase in unemployment. ignores the weaker sections.

limitations of privatisation.

globalisation describes an ongoing process by which

regional economies,socities,and culture have become integrated throough a globe-spanning network of exchange.the term sometimes is used to refer specifically to economic globalisation: the integration of national economies into the international economy through trade,foreign direct investment,capital flows,migration,and the spread of technology.

globalisation

It involves increasing interaction among national economic system,more integrated financial market,economies of trade,higher factror mobility,free flow of technology, and spread of knowledge throughout the world.

increase the foreign investment. partial convertbility of indian rupee. foreign trade policy. reduction of tarrifs. export promotion. freedom of repatriate.

measures adopted for globalisation::

increase in foreign trade. increase in foreign investment. foreign direct investment. increase in foreign collaboration. increase in foreign exchange reserves. expansion of market. technological development. brand development. development of service sectors. development of capital market. increase in employment. reduction in brain drain. improvement in standard of living.

positive effect of globalisation::

loss of domestic industries. unemployment. exploitation of labour. demonstration effect. increase in inequalities. dominance of foreign institutions.

negative effects of globalisation::

thank you……………..