Abstract

This article suggests that one of the key developments in Indian business following liberalization has been the increase in the number, diversity and activism of its stakeholders. This has presented managers with several ambiguous problems and tricky ethical dilemmas. Managers need to develop new competencies to cope, especially enhanced self-awareness, an ethical orientation, and the ability to think through, make judgments on and implement action after consideration of multiple (stakeholder) perspectives. Management education in India is yet to respond effectively to the new competency requirements. There is need to introduce changes in the curriculum to inculcate these competencies. In this context, the suitability of the GVV approach to teaching ethics is reviewed. The evidence from the initial experiences of using the GVV approach in India, while anecdotal, has been positive.