Just when the world thought it had seen it all with the grand flowering of corruption staged and escaped by Vijay Mallya, the Nirav Modi debacle came as a slap in the face in the face of human trust in the infallibility of greatness. One of the fundamental principles of humanity is the existence of a happy and healthy commercial economy. With the advent of good old capitalism and the expansion of corporate culture, the definition of commerce has changed to its roots. There is general trust in large entities by people. The belief that the larger a company, the less likely it is to defraud you. The enterprises of the economic giants mentioned above overturn this belief and completely shatter it. So if there is no faith in the infallibility of greatness, then how can the ever-growing corpus of the global economy be fueled by a tireless twenty-five-hour-a-day work ethic that no longer has anything ethical about it? ?Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an Original Essay Throughout history, the law has been built around the logical ramifications of immoral actions. Legality and morality are largely intertwined in most contexts, given the principles of Justice, Equity and Good Conscience that accompany every stray thought in the direction of Jurisprudence. We see so many legal principles in the direction of enforcing accountability in the hands of the people at the helm of corporate entities. The whole idea of ​​this application hinges on the principle that people have utmost good faith in the system in which they invest their life savings. The system only works as long as faith lasts. But cases of large-scale scams put an apprehension in people's minds that is quite difficult to remove. So, if the greatness of an entity is no longer a proof of its infallibility, or its moral rectitude which is strictly controlled by innumerable legislations and bodies like SEBI, there is no longer any possibility for an investor to rest in peace after invested money in someone's business. This not only causes immediate consequences for the investor in terms of large money losses, but also creates a general distrust towards the concept of investing. However, this brings to mind a simple question. Scams happen all the time. Not to mention corporate entities (whose obvious motive and textbook definition itself is centered on achieving profits); governments themselves scam people out of their money. When there is no trust in an institution that exists to protect the public interest, how exactly can such trust exist in the largest scale companies? Over the years there has been an increasing emphasis on the culture of corporate social responsibility. The idea is that since companies come from society and cannot thrive without social support, whether in terms of demand generation, resources or the means to obtain and use those resources, it is absolutely mandatory that companies give back favor. At first glance, this argument makes sense. Let's look at the most obvious purpose of corporate profit management. Profits are measured in terms of stacks of money and its variants. However, money itself has no real value aside from the social legitimacy it gains from the day-to-day management of the world economy. This makes the company the most indispensable part of any business. Furthermore, taking into account the fact that trade only arises in the heart of socio-political contexts, we must recognize the dire need to return favors to society. As long as the companiesthey prosper, their businesses flourish too. On the other hand, you might ask: Is it necessary to take special actions in the name of social responsibility? Logically speaking, an economy is only as prosperous as its businesses. When large industries and businesses flourish prosperously, the economy generates a greater GDP, thus allowing for a happier economic population. Therefore, a country with a greater number of unfailingly large companies in sectors that contribute heavily to economic indices of prosperity and bring in tons of foreign exchange are in themselves a contribution to society. Mahanobolis, in the Second Five Year Plan, sought to extend this argument through the "trickle down" effect, the merits of which are, of course, widely questioned, but the idea remains. That when the economy as a whole grows, its citizens are better off. Big companies enable economic growth. This gives a sense of comfort to the consumer. Psychologically, people would be more likely to deposit their money at a well-established, multi-branch, government-affiliated bank, rather than at a lesser-known, newer, and less reliable bank. This is because there is a general belief that larger institutions support the pillars of society and are less likely to cheat. Not to mention that their falls would be larger and harder to ignore, making any resulting losses easily recoverable. What does this mean for the companies themselves? We see entities like Reliance growing and diversifying by the minute and, at the same time, the companies whose growth we have not only witnessed, but in some cases even helped, have left a huge hole in the metaphorical public pockets. This raises questions as to whether Reliance is actually the next Kingfisher or whether Salil Parekh would one day be a Nirav Modi. Public trust is greatly diminishing due to these spectacular cases of people obtaining untold fortunes overnight and fleeing, never to be found again. In 2015, the public relations firm Edelman, at the opening of the World Economic Forum in Davos, announced the results of the 15th annual confidence barometer, the essence of which was not optimistic. According to the report, since the 2008 Depression, people's trust in the corporate sector had hit an all-time low. In subsequent reports the picture has only gotten worse. In sociology, Max Weber expounded the concept of legitimation. Here he explains that all concepts in society are linked to the value that people attribute to them. In the absence of value, there can be no importance. According to this logic, the success of a company is linked to the trust and value that people attribute to it. This is why goodwill is so essential to the survival and growth of any business venture. The equations of inputs and outputs are not linear, nor are they purely mathematical or logical. To a large extent, business success rests on the foundation of human and popular trust. Cases like those of Mallya and Modi create stains on this faith. These examples bring us back to the central emphasis on establishing business ethics. In its broader picture, business ethics is largely inapplicable because it cannot be attributed to specific details, but only to general guidelines. Scams obviously fall on the black side of this dichotomy between ethical and unethical, but this brings us to another important aspect of the discussion. In popular tales of human greed, we see that virtues, no matter how fundamentally heroic, tend to take a backseat to the great bogeymen of profit. In this situation, you could.