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Blog on Business Ethics
- 2024-06-25
- SCMHRD
The seminar on Business Ethics, presented by Mr. Vineet, highlighted the importance of ethical practices in business, the role of entrepreneurship in technological advancements, and current trends in various sectors. It provided a comprehensive overview of how ethical considerations are integral to all aspects of business.
Sir emphasized that groundbreaking technologies are often developed by new entrepreneurs rather than large corporations. He used the example of the Unified Payments Interface (UPI), which has revolutionized the financial sector in India by reducing the cost of managing money from 7-6% to 0.1%. He described entrepreneurs as individuals who constantly think about achieving the seemingly impossible, driving innovation and market disruption.
Further, sir also highlighted ongoing efforts in the United States to develop personalized AI doctors and tutors, stressing the importance of these advancements in making healthcare and education more accessible and tailored to individual needs. He argued that access to healthcare should be mandatory, regardless of financial status.
The seminar touched upon current trends in the real estate market, with a noticeable shift towards purchasing larger properties, reflecting changing consumer preferences and evolving market dynamics. Sir mentioned that every industry is subject to disruption and change, driven by technological advancements and shifting consumer behaviors.
Focusing on business ethics, sir provided examples of individuals who were dismissed for unethical behavior, underscoring the low tolerance for such practices within corporations. He emphasized the importance of knowing whether an action is right or wrong and seeking guidance from an unbiased party if there is any uncertainty. Corporations maintain very low tolerance for unethical behavior, making it imperative for individuals to align their actions with ethical standards.
The seminar by Mr. VINEET showed the importance of maintaining high ethical standards in all business endeavors. The insights shared serve as a valuable guide for professionals navigating the complexities of the modern business landscape with integrity and responsibility. Attendees are encouraged to reflect on the ethical implications of their actions and decisions, fostering a culture of transparency and accountability for long-term success and positive societal impact.
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