Academic journal article IUP Journal of Management Research

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Academic journal article IUP Journal of Management Research

Focus

Article excerpt

In the recent past, global corporations have resolved many complex issues confronting them by adopting strategies which yielded results to the satisfaction of the main stakeholders. Naturally, the phenomenon of deriving strength from the ethical standards set by the society and culture gains strength and in the process, many questions about morality arise. The impact of this scenario resulted in a multitude of practices and processes in the context of operational strategies. Alleviating the grievances of the new generation workforce is of paramount importance to the contemporary managerial class. The sustainability of business is the outcome of the efforts made in the direction of achieving optimum results on various fronts of business management. The current issue makes an attempt to bring forth some of the studies on the subject of achieving synergy between management practices, business ethics and employee satisfaction in global corporations.

The role of individual ethics in corporate world in terms of achieving business objectives set forth by teams of strategists, whose outlook and understanding of business ethics is quite hidden, is a debatable issue. Hence, the question of achieving rationality, which is popularly identified with morality by many of the thinkers, remains unanswered. The N J Yasaswy Memorial Lecture-"Defining Ethics in a Changing Society"- delivered by V Raghunathan at Hyderabad, attempts to address the basic issues connected with the transformation of business ideology. The lecture focused on the complex differentiation between ethics and morality, while extending their usage in the context of Corporate Social Responsibility (CSR) by most of the big firms. This conceptual framework would certainly be of help to resolve the managerial challenges faced by corporations on various fronts.

Any attempt to characterize the spirit of globalization with a particular tagline loses its credibility. With the advent of modern technology, many studies are being pursued to identify firms in the domains of microbial biotechnology and biochemistry in the context of globalization. The application of human intellect and knowledge which is crucial to these firms has certainly posed a big challenge to the workplace managers in terms of managing their quality. The next paper, "A Conceptual Framework for Key Success Factors in Microbial Biotechnology Firms in Iran", by Alireza Azimi, provides a conceptual framework for understanding the human factor specific to the microbial-biotechnology industry in Iran. …

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