Applied Business Ethics

Running head: Applied Business Ethics
Applied Business Ethics
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1APPLIED BUSINESS ETHICS
Companies have a responsibility towards the environment and the community in which it
operates. This is called Corporate Social Responsibility. It entails conservation and preservation
of the environment, sustainable use of resources and being ethical. Corporate Social
Responsibility refers to how an organization manages their business keeping the environment
and society in mind and produces a positive impact on society (Cherney & Blair 2015). It refers
to a commitment by companies to behave morally and ethically and contribute towards the
development of society and the local community. According to the narrow views on corporate
social responsibility, all businesses fulfill their social obligations by providing employment to
people, which in turn helps them to procure products, which in turn helps to drive the economy
(Cherney & Blair 2015). The goal of business was to maximize profits and social obligation was
superfluous and taxing to the profit margin. According to the broader view of corporate social
responsibility, apart from the primary objective of making profits, organizations also have a
social responsibility and commitment towards the environment, society and community and it is
the responsibility of the companies to prevent and mitigate the negative impact their businesses
may have on society (Cherney & Blair 2015). Coca Cola has always adopted a broader view of
corporate social responsibility and the company attaches a lot of importance to corporate social
responsibility. They give back two percent of their company’s operating incomes every year to
various social causes and programs (Ccamatil.com, 2018). The money is invested to create
healthy living conditions for the underprivileged sections of society, education, empowerment of
women, humanitarian and other disaster relief programs (Epstein 2018). Coca Cola has been
focusing on the environment, issues relating to water, poverty, gender equality, educating and
empowering workers, labour rights among others. Coca Cola takes its corporate social
responsibility seriously and refrains from advertising its products to children who are below
twelve years of age.
Morality refers to a set kind of behaviour in regards to standards of right or wrong
behaviour. Morality is synonymous with goodness, rightness and ethics (Liang & Renneboog
2017). A professional code of practice can entail and should entail ethical conduct. Without
adhering to the principles of morality, all professional organizations are bound to collapse. Both
organizations and individuals have certain roles to perform in the workplace. Organizations
should ensure employee satisfaction and should give benefits to employees. Every organization
has a set of rules and regulations, which the employees of that organization are expected to
follow. Individuals should incur a plethora of responsibilities and ensure that they perform all
their duties and responsibilities keeping in mind the vision, the mission, the principles and
objectives of the company. An individual contributes to making decisions for the welfare of the