Business and Sustainability

Running Head: BUSINESS AND SUSTAINABILITY
Business and Sustainability
Name of the Student
Name of the University
Author Note

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Introduction
The aim of the essay is to evaluate a range of relevant theories and models such as the
Triple Bottom line, the CSR and the business ethics. The essay also aims proposing suitable
strategies and critically evaluating them. The essay will critically evaluate the key theories
and the concepts in the study in the business ethics. It will highlight the corporate social
responsibility to be the most essential for every business along with describing the
stakeholder theory as an important part of CSR. The triple, bottom line and globalization will
be analysed equally aligning with the sustainability concerns of the business.
Discussion
[2.1] Business Ethics, Sustainability and Globalisation
In the corporate world, the ethics have become a buzzword and the reason behind this
is the explosion in the communication and the globalization in the organization. The result is
that the business organizations are focusing more on the ethical aspects. The ethics are the
set standards which help to determine the rules which should be maintained. The business
ethics are given greater importance in these years1. It is a set of principles which an
organization must follow or the code of conduct the business must maintain during
conducting business. Ethics is a standard set of rules which help the organizations to regulate
their business. It also helps to distinguish between the wrong and the right in the business. It
is based on the creation of the human mind and depends on the influence of time, place and
1 Arora, R., 2016. Enhancement in employee skills and benefits to employees and
organization with respect to CSR Initiatives. JIM Quest, 12(2), p.39.

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situation. The codes of conduct are another term which is used in the businesses considered
to be a framework to bind people together in the organization.
The behaviours in the organization are also guided by the ethical concerns and there
should have a balance between the requirements of the stakeholders and the will to make
huge profits. During maintaining the balance, the businesses sometimes need to do the
tradeoffs. In the organizations, the rules and the principles are formed in order to deal with
such types of tradeoffs2. In order to ensure that the business receive huge profit without
having affected the society or the individuals as a whole. Those types of ethics which are
involved in the business clearly reflect the philosophy of the organization. One of the best
policies among those determines the fundamentals of the organization. The result is that the
ethical principles are encouraged in the organization.
Few of the best ethical principles are as follows:
Integrity – The principles of integrity is tested when there is a huge pressure to do the right
instead of the maximizing the profits only. The executives in the organization are required to
demonstrate the concept of personal integrity and courage through doing what is right3.
2 Ferrell, O.C., Harrison, D.E., Ferrell, L. and Hair, J.F., 2019. Business ethics, corporate
social responsibility, and brand attitudes: An exploratory study. Journal of Business
Research, 95, pp.491-501.
3 Hafenbrädl, S. and Waeger, D., 2017. Ideology and the micro-foundations of CSR: Why
executives believe in the business case for CSR and how this affects their CSR
engagements. Academy of Management Journal, 60(4), pp.1582-1606.

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These are certain principles which are both honourable and upright. The executives must not
back down and fight for the beliefs
Loyalty- The principles of loyalty must be encouraged in the organization because an ethical
behaviour cannot be promoted trust. Loyalty needs to be demonstrated for a strong base of
trust. An organization should not disclose the personal information without the consent of
the person which promotes confidence in the organization4. The ability of a professional
should be safeguarded for making an independent decision avoiding any type of conflicts of
interest. Hence, the organization should stay loyal to its biggest stakeholders; the employees
and the customers. During the hiring period all the proprietary information must be conveyed
to the employees.
Honesty - In the regular work of the organizations, the business organizations must be able
to maintain honesty. They should pout effort not to mislead anyone with wrong information
and avoid misinterpretations, overstatements, partial truths and others. Hence, they should not
have omitted any truth which should be known to others.
Ethical leadership- The ethical leadership is also a part of the business ethics and must be
clear to the leaders of the organizations. All of the leaders should be aware of the ethical
behaviour expected from them.
Regarding sustainability, it can be said that it is an important concept which is widely
referenced and achieved huge support. It is difficult to implement sustainability due to its
complexity and enormous shifts in the process. Sustainability, in simple words requires a
complete balance between the three goals such as social equity, ecological health and
4 Hansen, E.G., Zvezdov, D., Harms, D. and Lenssen, G., 2015. Advancing corporate
sustainability, CSR, and business ethics. Business and Professional Ethics Journal.