Business Ethics, Responsibility and Sustainability

Business Ethics,
Responsibility and
Sustainability
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Table of Contents
Introduction......................................................................................................................................3
MAIN BODY...................................................................................................................................3
TASK...............................................................................................................................................3
Explain various key challenges related to the corporate responsibility and sustainability in
context of food industry..........................................................................................................3
Discuss various important practices within the sector which will making references to
ethically and moral issue........................................................................................................7
Recommendation....................................................................................................................8
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11
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Introduction
This report will assist in better understand the concept of business responsibility,
sustainability and ethics. Now a days both the government and customers are very conscious
towards the nature and want that the company will effectively fulfil their responsibility, maintain
sustainability and ethics while operating their business. It was analysis that customers were also
prefer to buy products from those company who ethically conduct their business operations. All
the three concepts will play an essential role in the growth and success of company. It will help
an organisation to create a strong brand image in the target market and also provide long term
growth in the market. Business ethics will define the practices & polices of a business related to
controversial subjects (Antonini, Beck and Larrinaga, 2020). It will include corporate
governance, insider trading, discrimination, and so on. Other than this an organisation is also
responsible to its all stakeholders as because all the stakeholders will help them in achieving
higher growth and goal of business. So it is also the responsibility of business to better analysis
their responsibility towards the employees, society, customers and each and every person who
have some interest in business. For this report Food industry is taking into consideration for this
report. The concept of Food industry is complex and wider as it will include various small and
large business who provide food items to customers all over the wold. It will include various
activity such as production of goods, distribution and packaging etc. This report will include
various challenges related to the corporate responsibility and sustainability. Other than this it will
include various best practices within the sector which will making references to ethical and
moral issues & also include some recommendation which help the selected sector to being more
responsible by taking into account global consideration.
MAIN BODY
TASK
Explain various key challenges related to the corporate responsibility and sustainability in
context of food industry.
Business ethics- Ethics refers to the set of different rules and principles which h are
followed by an organisation (Axjonow, Ernstberger and Pott, 2018). While business ethics refers
to a code of conduct which is required to follow by the business at the time of conducting various
business activities. With the help of ethics the industry will set various standards for the
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organisation for regulating their behaviour. It will help the organisation to easily differentiate
between the wrong and the right part of businesses. It was analysis that ethics that are formed in
the organisation are not rocket science. But simply they are based on the creation of a human
mind because of which it was analysis that ethics will depend on the influence of the place, time
and the situations. Business ethics will compromises of all these values and principles which will
help in effectively guiding the behaviour of organisation. It was analysis that the business in the
selected food industry will require to maintain a balance between the needs of their stakeholders
and their desires. This will assist them in generating more profit. Selected industry will timely
ensure that businesses will gain profit without affecting the individual or society.
Corporate responsibility- It was analysis that responsibility is generally define a the
decision of an organisation & behaviour of a person which will assist in improving the standard
of living of other people (BOZAYKUT BÜK, 2020). While corporate responsibility refers to the
policies that a company will use for providing support to the principles of sustainable
development. These principles will define that an organisation will not only require to generate
economical values or revenue but also they are require to create an effective and positive impact
on the environment and society. It was analysis that those organisation who conduct the CSR
activity are expected to give more focus on their internal management system so that wastage
can be reduce and effectively consume the resources etc. In context of selected food industry
they are ensure that their each business will contribute in the development of a better society.
Business sustainability- It refers to doing business without negatively influence or
impact the environment, community or society as a whole. It was analysis that sustainability in
business generally divided into two main categories (Centobelli, Cerchione and Mittal, 2020).
Which are the effect of business activities on the environment and effect of business on the
society. Main goal of sustainable business strategy is to make a positive impact on the
environment and society. Sustainability of business will covered a wider area of environmental,
economical, and social factors at the time of business decision making. In context of selected
industry it was analysis that sustainability of business strategy of each business is different from
other because it will be depend on the business goal and organisation value.
Challenges related to corporate responsibility
Now a days customers are only want to purchase products from those companies who
fulfil their social responsibility and business are also able to attract them toward their business
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