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Exploring the Intricacies and Subtleties of
Business from Psychological Perspective
Maheswar Satpathy
PRELUDE
Ethics and Values are two words on which people speak much and
practice less. Business as an activity has been always conceptualized
and associated with values, may it be financial or moral. But,
ironically in all these years the preponderance of financial values
have largely shrouded the sight of human vision, and have very
deludingly made them a victim of moral paralysis. The resultant
forgotten moral and ethical values have taken a backseat in the
realm of human cognition and even everyday business frolic,
reflecting a mere mortal and materialistic spirit. The moral paralysis
has not only made humans devoid of a sense of camaraderie towards
others but has adorned them with a self-deceptive armor. Over the
years the sons of nectar have used their unparallel senses and
intuition for a battle they want to win at any cost, even at the cost
of humanity, very much reflected in the mass destruction and
several subtle ways to block the wellbeing of others, being blossomed
in its entirety. The abstruse human proclivities accompanied with a
sense of precocious attitude largely ingratiated by the lack of moral
values have left human beings as sepoys incognizant of the
consequences of their actions.
Editors
NovRattan Sharma
Amrita Yadava
Published by Global Vision Publishing House
Business Psychology
Maheswar Satpathy, UGC-JRF, Department of Psychology (HSS), Indian
Institute of Technology (IIT) Kanpur, India.
32 Business Psychology
Traditionally the whole institution of business and industrial
affairs were conceptualized only as a source of economic profit
both for the owner of the organization as well as the society. Since
the beginning of the civilization, the superordinate interests of few
handful people have determined and have run the course of business,
turning sometimes into capitalist monarchs or deadly and lavishly
monopolistic masters, trying to establish their invincible empires.
But, tragically, all those empires were built with desires to establish
and sustain them at the cost of others, and in order to give their
ludicrous desires a vent in the form of building monumental statues.
Gradually, these systems gave birth to a desire for enslaving many
for the interests of few, and permeating a system in the history of
humanity to be known for its deep contempt which it created
among the oppressed, and also those who suffered the deep anguish
without being able to open their mouths in the fear of getting
brutally condemned.
Today, when the society has marked its significant advancements
in science, technology, business and other human activities, both
creational and recreational, the concept of subjugation of interests
of many still stays inside the cover, sealed lest someone really tries
to open it. The practices which marked the Capitalistic regime or
the whimsical rule of monarchs still make their entries in the canvas
of human mind and action in a much more subtle manner. One
thing gone, the other comes to replace it, reiterating the concept of
old wine in a new bottle. The concept of just and unjust, doubled
by dichotomy between morality and immorality has been always
there in the background, but too weak to carry out and exert its
influence on the human minds. It’s not just Business, but almost all
the fields of activity which give evidence to the presence of excessive
consummation of immorality and sometimes inhumane behaviour to
the degree unimaginable by human mind. And all these immorality
are also evident among those who speak their mind out in forums
regarding ethics in practice in the darkness. But, before we discuss
all these issues it is pertinent that we discuss why ethics stands
important, and at present in Business and industry.
Voicing his concerns and showing his frustration with the
emerging unethical practices by few companies, J.M. Sampath
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Exploring the Intricacies and Subtleties...
(2006) observes that “despite the efforts of companies to build
ethical cultures, the actions of a few who have traded integrity for
profits have cast a shadow on all. Never has it been more important
for businesses to ‘talk and walk the talk’ of what they stand for”.
Values form an integral part of Organizational Culture. Herskowitz
(1948) viewed culture as ‘a construct describing the total body of
belief, behaviour, knowledge, sanctions, values and goals that make
up the way of life of people’. It is in the context of formation of an
organizational culture that values play a key role. Therefore, culture
with a degraded value system will find no meaning.
The moral decadence heightened with a sense of hedonism at a
social level paves way for the emerging monsters to become more
prominent, strengthened and supported by the majority imbibing a
particular system of thought. What makes the system so abhorrent
is not what is being done, but what potentially the future can
unfold before us, if the systemic and deliberate plans of these
people get realized.
CHALLENGES AND CONCERNS
As a reflection of the sinister concerns of people with petty
interests devoid of concern for others, and lack of perspective
taking of others the various ominous activities and pursuits of
today’s men have changed radically. The Combined effect of all
these are being borne by the mass in the form of unexpressed
agony, deep angst and contempt. No doubt, business has been
conducted primarily to earn profit and / or create wealth. However,
there are reasons and evidences to believe that the mindless obsession
with profit maximization at any cost carried to any extreme has led
to spurt in sordid activities in business causing harm to both the
business and society and ultimately leading business to flounder and
fizzle out (Khandwalla, 2004).
Subtle Crimes and Value Degradation and Ethical Trafficking
Our legal system typically sets the basis for what is considered
offensive in our society, and considered to be illegal behaviour or
blatant misconduct. However, because of the diverse nature of the
subject matter of white-collar crime, it is often difficult to set a
34 Business Psychology
definition to the term (Chibe, 2006). Typically white-collar crimes
include insider trading, embezzlement, bribery, forgery, fraud, and
computer crimes. Current definitions of white collar crime
include health care fraud, securities fraud, and environmental crimes
(Chibe, 2006).
There have been companies in the world and in India which
have very subtle and even sometimes explicitly engaged in several
unethical activities. They may range from attempts to persuade the
government and other policy makers to change or modify laws,
policies related to trade and business making it a monopolistic
regime, to engaging in several illicit activities like corruption,
smuggling, using low quality materials for production, dilution of
standard, making illegal constructions, encroachments, replacing
poor people for making their business hubs, various frauds and
even taking the competitors’ lives also. This will also include the
ominous symptoms like bribing, child labour, misappropriation of
funds and misrepresentation of assets and liabilities reflected in
poor corporate governance resulting in loss of credibility, loss of
faith of all stakeholders, etc. The ever growing monster heads with
different subtle ways of unmaking the ethical principles devised by
the intellectual businessmen of today have deteriorated the standards
of society creating a sense of doubt among even an uneducated folk.
The large scale cutting of trees, turning fertile lands into a
butchered barren landscape fit enough to showcase their materialistic
and ever growing greed, to releasing tones of carbon dioxide,
releasing industrial effluents illegally to natural habitats in the garb
of clearing the company, etc. are all reflections of how low people
can go in order to achieve their ends. Even inside the organization,
the stealing of data, information and various other materials by the
employees, passing the information to the competitors, and making
business a dirty game mired by a sense of insecurity is very tragic.
Some of the reasons behind the growing menace of unethical
pursuits of players in business and industry are:
(i) Desire to grow optimally and unboundedly, possess and
consume much of the earth’s properties.
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Exploring the Intricacies and Subtleties...
(ii) Stiff competition with a philosophy of fairness of any
extreme action to be initiated for the purpose of profit in
business.
(iii) Increasing hedonism and as a result excessive consumerism
multiplied by the desire to unblock the barriers in the
inglorious path of pleasure seeking.
(iv) Lack of strong value inculcation and the unfocused
education system with lopsided perspectives.
(v) Lack of strong ethical leaders in the organizations to
inculcate the values of ethical and just behaviour through
leading by example. People also believe that by ethical
means gaining profit and even running organizations are
not possible.
(vi) Strong belief/faith in a systemic order consistent with status
quo and seeking serviceable others.
(vii) Emphasis on the Compliance rather than on incorporation
is one of the most important problems leading to all forms
of deviance, out of the mental revolt.
In a recently published book, Dr. Arindam Gupta, noted ethics
expert of KPMG and JNU, has observed that when a company
emphasizes compliance rather than values, it does more harm than
good. Employees need to see business ethics not as a form of
managerial control but as something which they can use in their
daily environment.
Redefining Ethics and Values
Ethics is the rare ability found among human beings in order to
discriminate between right and wrong activities and reflect them in
their personal, social and societal behaviours. The discussion of
ethics is necessary as it falls under the rubric of value systems. And
it is pertinent that you need to know what you want and what you
do. Ethics not only guides our just behaviour, but orients our attention
to several issues pertaining to a particular situation our life time. In
a world marked by growing insensitivity towards each others’
feelings and emotions heightened by an indifference towards the
36 Business Psychology
needs of others human cohabitation is almost becoming suffocating.
The present society we breathe in is a society which our forefathers
despised, but we have very complacently succumbed to it as though
it were a honeycomb. The present society cares very less for what
other people go through, citing a complete lack of concern for
others. The solution no doubt lies in following ethical behaviour
very aptly put by Elizebeth Vallance (1995), “Business ethics attempts
to apply general moral principles to business activities in order to
resolve, or at least clarify, the moral issues which typically arise in
business.”
We live in an age of innovation, the growth of free markets,
and a world economy. New technologies, roles for government,
and players on the global scene offer challenging opportunities,
demands, and constraints. More peoples and nations are working
together to spread freedom and democratic principles; to nurture
free markets; to protect individual property rights; and to encourage
respect for human rights, the rule of law, and the environment.
Argandona (2003) advocating values as the pillar of any human
activity be it any context very succinctly points out that (1) values
are not the icing on the top of the cake but the basic structure that
supports the building. (2) Any manager who does not take values
into account - both his own and other people’s-will be termed as a
bad manager. (3) Values are part of companies’ distinctive
competences and, therefore, shape their long-term success (although
not necessarily their short-term profitability). (4) The values that a
company chooses as these distinctive competences’ anchor point
will be fundamental in shaping its strategy; indeed, one can safely
say that two companies with different values will follow different
paths. (5) We all have values, but they must be defined, discussed
and used; and a vital part of this process is to ask ourselves how
we can foster values both within the individual and within the
organization.
Is Ethical and Socially Responsible Behaviour is inevitable?
This relationship between business and society is appreciated in
Rigveda also: “Corporates should work like a honeybee, which
takes the nectar of a flower without the flower being losing its
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Exploring the Intricacies and Subtleties...
shape and fragrance and provides honey for the wellbeing of the
society.” It means that both have to work on a symbiotic prism for
each one’s survival and success. The business history is replete
with evidences to believe that business flourishes only where society
thrives. On the contrary, business dies when society condemns and
rejects it (Khanka, 2006). No business can survive without societal
approval and sanction. Our Indian companies like Tata, Johnson,
Maruti Udyog Ltd. etc. have carved their niche in the world of
business and industry by their judicious efforts to align their business
interests, objectives and activities with societal interests by following
several ethical principles which are rare now-a-days in many
industries.
Corporate Social Responsibility, though majorly a vent of
organizations to show off their social side is fundamental to any
business. Good governance and social responsibility cannot be an
afterthought. Indeed, one of the major challenges for companies
today lies in providing responsible leadership in times of significant
change. What do people want from life? What keeps them awake at
night? Therefore, Organization cultures which promote ethical
behaviour have become important in the context of large scale
unethical behaviour in business and other organizations.
Making Business ethics and values a main Hallmark of Business:
Ethics is essentially a matter of concern of the inner intents of
individual. Therefore, the first step involves definitely that every
individual before preaching should make a conscious attempt
everyday and every moment for the activities he is attempting,
reasoning about the implications they may have on the lives and
well-being of all those who are either directly or indirectly related to
them. Even, sometimes you may not create any problem for the
people of today, but it may also create a state of precarious life
mode for the future generations, who have not seen the rays of life
till now. So, it’s not just we are answerable to who are present, but
who will determine the future of human race too. Dr. Dipankar
Gupta, explained, “Business leaders today need to actively give
thought to the content and operational aspects of their
ethics programmes. Ethics programmes need to be ‘live’ and not be
38 Business Psychology
weighty and cumbersome pieces of paper behind which their purpose
is lost.”
With increasing urgency, market and social forces are rewriting
the roles and responsibilities of business as well. Though the profit
motive of business is understood and accepted, people do not
accept it as an excuse for ignoring the basic norms, values, and
standards of being a good citizen. Modern businesses are expected
to be responsible stewards of community resources working towards
the growth and success of both their companies and their
communities. So, here one question raises that can we really maintain
a value neutral and socially oriented organization with objectives to
serve the society holistically not just by the excuse of a mere
product or service.
The premise which is primarily responsible for holding a
negativistic schema against the value-laden business practices is the
stance that Business and values are inherently incompatible. Doing
business with a strong sense of values can usher in a win-win
situation for all. Pointing out the benefits that may be accrued as a
result of value internalization Gidwani, 2007 observes:
This is invaluable and is intrinsic to building a strong brand equity,
which commands a premium. Within the same industry, companies
that enjoy a score higher on ethics and principles also seem to
command more respect, which leads to long-term gains–by way of
higher customer trust, greater market share, higher stock valuations.
Most important good corporate behaviour tends to attract the best
talent to work for an organization. So being good is not only good
in itself, but also very good for business growth and sustainability.
Analysis of Blockages
The issue which rises in due course of all these discussions is
that what is that is impeding the values to be integrated and being
reflected in our business activities? The there are many blockages
staring with the inconsiderateness of people towards social issues
(except their own) to making their souls lost in bigotry of indifference.
A comprehensive explanation of the phenomenon is found by Dawson
& Batholomew (2003) who opine that “Critics point to four issues
39
Exploring the Intricacies and Subtleties...
as presenting barriers to the use of virtue in the context of business.
They focus on the relationship between management and practice,
the potential for virtuous behaviour in a competitive environment,
the ability to develop a reflexive critique of management that can be
acted on, and the differentiation between work and wider social
roles and people’s propensity to take responsibility for them”. So
the points which bewitches our attention is can we do something
about it? The answer is yes. But how? Perhaps, the only way to
assure it is through self-realization and internalization.
Enforcement of Values vs. Internalization of Values
Commenting on the lamenting of state of affairs we are all in
Byrne (2002) observes “business to be ethical needs to experience
social pressure, whether it is expressed in consumer responses, in
political and legal determinations, in shareholder propositions and/or
withdrawal, or on placards and banners outside a corporate
headquarters or field of operations. Such pressure is in turn greatly
enhanced if made the subject of widespread public sentiment about
right and wrong business behaviour, especially if this receives
concerted media attention”. This highlights how we are still being
engrossed in our little self-made prisons with self-inflicted captivity.
We need some situations/external situations to evoke in us a desire
to follow moral values and ethical behaviours. The issue which
rises is that are we ready, individually, in groups and as a society to
grow beyond our petty interest, to critically look at our own
behaviour first and reflect on it. Do we possess as a society the
strength and conviction of the moral character to examine and
dissect our moral beliefs and values? Do we need some scaffold, or
we can individually operate as self-governed value-oriented
individuals? Do we have eagerness to come out and say that we
have committed a wrong, and accept our mistakes sincerely? Do
we have such fathomless enthusiasm to overcome our hesitation to
seek help to keep a guard on our behaviour and guide us, and
practice what we say, in other words, walk the talk?
According to a theory proposed by Argandona (2003) there are
two types of values: Personal and organizational. Personal values
40 Business Psychology
have two components: rationality and virtuality. The process of
fostering values within people requires, from the rational viewpoint,
an exercise in information (knowledge about the values) and an
exercise in education (convincing of the need to use and strengthen
certain values, applying the human action theory). The development
of organizational values is dependent upon personal values, but also
on the organization’s structure, rules and culture. Therefore, a
strong sense of control accompanied with leading by examples will
encourage organizational value-orientation and internalization of
values.
Education as the Source of Value Inculcation and
Psychologists
Education is the spring of our common consciousness. We
become human by inculcating education. If we are talking about
values and again internalization of values, then there is no alternative
than to fall for the lap of education. One issue which makes us
mute is that why in spite of our cumulative and herculean efforts
being expended on the system of education and value education,
why are we not able to get the future generations of our country be
more value-realized individuals? Why the system fails to do the
noble duty it had assumed centuries before? How is the deceptive
system of transmission of values so much operative but still not
bearing any fruits? The causal attributions may vary according to
the perspectives being employed, and the answers may be explained
from several standpoints. Some of the prominent ones are: i) The
lopsided approach of our present system of education in the society
ii) the lack of focus of the education system iii) the over-emphasis
on the inculcation of hedonistic spirit among youngsters by making
them puppets of technological innovation and relegating them to the
position of robotic actors. iv) Strong permeation of materialistic
spirit accompanied with the encouragement to be calculative in
approach v) Lack of any strong role models, as we all teach and
preach, but not follow in our own lives. Therefore, the answer to
these concerns may find its answer in character formation and
making our students learn the values of moral character.
41
Exploring the Intricacies and Subtleties...
At the Center for the 4th and 5th R’s (Respect and
Responsibility) recent work in character education, they have found
it helpful to conceptualize character as having two major parts:
performance character and moral character. Performance character
consists of those virtues such as effort, diligence, perseverance,
confidence, and ingenuity—that enable us to do our best in any area
of performance (the classroom, the playing field, the workplace).
Moral character consists of those virtues such as honesty, respect,
fairness, empathy, and caring—that enable us to be our best ethical
selves in our relationships. Both performance character and moral
character are essential to being a person of character (Ramirez,
2009 & Character Education Partnership (CEP), 2008).
Therefore, our education system should create a flow and
should channelize positive energies of the young generations in
order to develop industry and fortitude (aspects of performance
character) as they complete a well-designed and challenging task.
They will develop sincerity and charity (aspects of moral character)
as they exchange ideas, coordinate their efforts, and consider the
needs of others.
Here the issue is can Psychologists do anything about it? The
answer is yes, they can. Psychologists can play twofold axiomatic
roles at two levels: Organizational and Societal. As society and
Organizations don’t operate in seclusion, therefore an integration of
the two roles of psychologists also become necessary and evident.
Education need not be conceptualized as only School or University
education, but here in the present chapter a more holistic definition
of education is being proposed and utilized. Psychologists can use a
several variety of techniques ranging from business games, sensitivity
training to more organized and specialized psychological indoctrination
procedures. The whole field of socio-behavioral training and
developments in industries has been majorly a contribution of
psychologists and if prudently used, this can not only help in building
a stronger value based organization but can pave the path for
conceptualization of value-laden society.
Psychologists can play a dominant role in making the stakeholders
of any organization, be it society or industry realize by using different
42 Business Psychology
experiential approaches that i) Values create and drive culture ii)
Culture drives employee performance and motivation iii) Employee
motivation and behaviour drives customer satisfaction. iv) Customer
satisfaction creates shareholder value So what is required is that an
interlink between these four inherently related steps of organizational
growth, effectiveness and sustainability needs to be made, and all
the stakeholders need to be made felt of its significance in terms of
organizational well-being.
Values in Business vs. Value Based Business: Can we
Create a New Paradigm?
In recent years much emphasis is lauded on the values than the
yesteryears. Organizations and all the stakeholders have become
more attentive to issues pertaining to value degradation, its impact
on a large scale, and many of them have strongly advocated for
bringing values to the forefront of business activities. It is not only
stakeholders who expect companies to pay greater attention to
norms, values and principles; companies themselves are
acknowledging the importance of responsible business practice
(Waddock et al., 2002). Issues of having a common ethical codes
and consequential practices have also taken much attention of not
only academicians but corporate leaders. So, the issue of defining a
core value becomes pertinent in this context, though defined in
many ways in many contexts. As Kaptein and Wempe (2002) define
Core values “to those qualities a company deems desirable and
which should ground all business conduct and outcomes”. One of
such attributes of core values is Accountability, which all companies
need to stress. The impact and credibility of a code can be enhanced
by making a commitment to stakeholders to periodically account
for implementation and compliance with the code.
It has been observed that all these companies are striving towards
a healthy integration of values and value-based practices, as though
values were an external entity awaiting its prompt amalgamation.
The integration seems to be an add-on practice rather than a crux
of the system, thereby weakening the very rubric of the system
which all these companies are striving for. Arguably, when a matter
43
Exploring the Intricacies and Subtleties...
gets relegated to a state of mere alternative, and option out of many,
then the promises and the utility catches a declining trend. When
the need becomes just to maintain, rather than sustain, the very
practice becomes questionable. Therefore, the time has come when
people need to be reflexive about what they wish to do, and what
they do. Some of these eternal core values like respect, honesty,
Integrity, commitment and responsibility may sound promising.
So the issue still which remains in the background is that do
we need to integrate values into our business, or we need to create
a value-based business itself especially oriented towards the major
aims of value creation, maintenance, sustenance, transfer and
transmission? Can we just be complacent with our financial papers
boasting of clarity and transparency and still engage in subtle value
paralytic frolic, dooming our conscience and morality? Should we
still succumb to what traditionally has been called as ethical practice
vs. a cognitive praxis? Kaptein and Wempe have defined the core
values in terms of the company’s role in defining values. But, does
not it invite a company’s autonomy and inevitable/resultant failure
to maintain a holistic and universal code of practice, and sometimes
very maliciously conjured exercises to be pretentiously presented as
ethical practices to the public and make them victims of foolery?
And does not it challenge the very definition of values being employed
or deployed in the common practices in the society? Can we break
the traditional practices of being complacent with the practices
initiated by the powerful few? Another major challenge is that do
we have that moral conviction to look critically on to the paradigms
which define values, and challenge by dissecting its meanings in
different contexts? And can we create a Value-neutral/Value free
definition of value in place of a value-laden one?
Therefore the process entails as well as invites a circumspection
on the part of value-employees who are using it constantly, but
oblivious of its uses and misuses prominently. A value-employee is
one who uses any value in any situation, and therefore we all are
value employees, inherently implying ourselves to be alert about our
own behaviour. We need to be conscious of what we do and what
we intend to do. The issue again rises is that you as an individual
44 Business Psychology
can take care of yourself mostly, but how can you make ensured
that all the stakeholders i.e. employees and others are complying to
norms. One very beautiful example is depicted in the form of
Reinhart, a character CEO of a major Midwestern U.S. food
distribution company in the book “Values-Based Leadership: A
Revolutionary Approach to Business Success and Personal
Prosperity” by Kenneth Majer (2004). During his journey, Reinhart
underwent deep introspection which allowed him to reflect on the
set of five values (Honesty, Integrity, Profits, People, and Opportunity)
that have guided his life and which he chose as the foundation for
running the company. He suddenly realized that the people in his
company were not living these values anymore. The reason is that
these values are his values and not necessarily the values of his
employees. But why? Can you imagine? The reason may find its
answer in the fact that values were his own, employees of his
organization were never made realized the importance of them, and
more significantly there was no attempts being made to inculcate
those values in them.
CONCLUSION
Business of today needs to be not for just profit, but, it is
inevitable that we re-channelize the focus of the businesses from
just profit to catering to the needs of people and society as a whole
considering the present and future, keeping a true and sincere
desire to serve rather than trying to create consumers for the
establishment and continuation of their selfish needs and always
keeping the thing mind that the choices human beings make today
will determine the world in which they live tomorrow. Gandhijee’s
principle of trusteeship can also help to a considerable degree by
asserting its opinion that those who are managing wealth and the
assets of an organization are merely custodians of this wealth and
they are not owners. It will also help in getting rid of the problems
like the current case of Satyam forgery case.
In short, owners and managers must temper the competitive
aspects of capitalism with concerned citizenship. They must take
individual responsibility for the decisions and activities of their
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Exploring the Intricacies and Subtleties...
enterprises and their impact on the culture of their enterprise and its
stakeholders. A business needs committed, productive employees,
agents, and suppliers to create goods and services. It needs loyal,
satisfied customers and consumers to make a profit. It needs people
who believe in it and in its prospects enough to invest. It needs to
take the long view and to respect the physical environment and the
prospects of future generations.
Businesses are at the strategic center of a civil society, and they
have a stake in their communities. They depend on free markets
and good public governance for their growth and success, but they
are also authors of their own destiny. Through responsible business
conduct, they can contribute to the essential social capital of trust
and fairness which will make good governance and free markets
possible. And Markets become free and remain free if their players
are responsible and respect the basic values of honesty, reliability,
fairness, and self-discipline.
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46 Business Psychology
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