In the current era of post-liberalization, privatization and globalization (LPG), questions relating to business ethics and corporate social responsibility (CSR) have surfaced affecting Indian economy, society and polity.
The main aim of the present study is to understand the emergence of the new market in India. Not only the structure and functioning of the market have changed since the advent of globalization, new norms and regulations and actors have come into play. In a way, a completely new situation has occurred, characterized by an altogether new work culture.
As an offshoot of globalization, there is emergence of a new middle class, but there is hardly any cognition among common customers and functionaries of the shopping malls about business ethics and CSR.
There is no transparency regarding functioning of the malls. Pricing and profit-making are kept as secrets by the top management of the shopping malls. Functionaries are working as cogs in the machine. Creativity of the workers does not get reflected. Alienation of the staff from their creative-selves needs to be studied in the new situation.
In the present study, emphasis is on the understanding of business ethics and corporate social responsibility as guiding principles and practices in business transactions. Further exploration is needed to understand business ethics, CSR, and transparency vis-à-vis the organized retail trade in India.
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