Business Ethics, Responsibility and Sustainability in Technological Industry

This report discusses the challenges related to CSR and sustainability in technological industry, best theories for ethical and moral issues, and suggestions for businesses to be more responsible in global consideration. It covers the key challenges in corporate responsibility, the triple bottom line theory, stakeholder theory, and recommendations for businesses to set up a social mission, educate employees, encourage volunteering, commit to protecting the environment, avoid greenwashing, and limit the need to travel by hosting video conferences.

Business ethics
responsibility and
sustainability

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY ..................................................................................................................................1
Examine and justify the key challenges connected to CSR and sustainability in selected
industry. ......................................................................................................................................2
Explain some best theories by considering technological industry with ethical and moral
issues. .........................................................................................................................................2
Suggestions for business in the chosen industry to help them in being more responsible in
global consideration. ..................................................................................................................3
CONCLUSION ...............................................................................................................................3
References:.......................................................................................................................................3

INTRODUCTION
Communities are continuously evolving and business should germinate in line with
these societal displacement. The relationships among business firm and society is difficult and
ever-changing, they both have the capability to determinant and be influenced by one another.
When there are societal rebellion and people economic process alteration. Business should set to
stay applicable, such as people are also highly attracted towards by the manner ample
corporations set industry rules. Present business direction pattern illustrated that there has been
a rise in corporate social responsibility impelling durations of risks in the global
economy(Miller,., Eden, and Li, 2020). Property business exercise will influence fresh buyers
and retain brand contentment by developing the customer experience and motivate workers to
be valuable of their workplace. When making a sustainable business surroundings it can change
developed the company as well as industry. In this report will considerer the industry which is
related with the technology just as social media company and artificial industry .In this report
will cover the illustration of its responsibility at global level. Further it will examine some
challenges link with key challenges in corporate responsibility. After that it will use some
models and theories to justify the arguments in context of selected industry with relevant
examples. In last it will recommend the business in the sector to present more responsible in
context of global activity.
TASK
Corporate social responsibility is term which defines the situaion when company plans to
move towards the Companies have improved a strategy of social responsibility in which it is
personalized to the surrounding of the company. When there is a level of social responsibility is
well managed in the atmosphere of the industry than the workers and settings in which they are
working are able to answer the community in context of business. It is instant to present a level
of great social obligations in the company which will demonstrate are well centred, organised,
disciplined individually. The values and ethics for managing social principles within a company
where the integrity of the surroundings and society are guaranteed (. Overton Kim Zhang, and
Huang, 2021). The connection among technology and social responsibility and sustainability are
interlinked as the impact of new technologies on society and manner of applications contributes
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the sustainability in modern community as it helps in cutting cost and improving efficiency also
decreasing the environmental footprint all at the similar duration.
Examine and justify the key challenges connected to CSR and sustainability in selected industry.
In the context of globalisation, business leaders have to grapple with atmosphere sources
that are various from what that they are utilised at national as well as international level. They
face an raised amount of risks and they can only tend their industries effectively when they
appropriately analyse the complexity of environment at global level. Globalisation plays an
important role in driving the evolution of the CSR discourse and theories across developed and
developing countries. The main aim of every company is to increase the income of their
shareholders. Some of challenges which are linked with CSR and sustainability in technological
industry are listed in below :
 The Decrease Role of Authorities In the past, governance have relied on statute law and
regulation to deliver social and environmental objectives in the concern sector. Decrease
authorities beginning, conjugate with a misgiving of modulate, has led to the expedition
of intentional and non-regulatory initiatives alternatively (.Sardana, Gupta,, Kumar, and
Terziovski, 2020.).
 Increased Customer Interest There is evidence that the ethical conduct of companies
exerts a growing influence on the purchasing decisions of customers. In a recent survey
by Environs International, more than one in five consumers reported having either
rewarded or punished companies based on their perceived social performance.
 Competitive Labor Markets Employees are progressively looking beyond paychecks and
benefits, and seeking out employers whose philosophies and operating practices match
their own principles. In order to hire and retain skilled employees, companies are being
forced to improve working conditions.
 Change in employee behaviour Employees are progressively looking beyond pay checks
and payment and seeking out employment whose operational practices lucifer their own
generalization. In order to hire and retain skilled employees, organisation are being
constrained to improve working conditions.
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 The prime intent of exclude CSR in firm business is to make the corporate business act as
well as the corporate civilisation both property in three ways: economical, social and
environmental. Paying equal amount of attending to all the three magnitude, but many
institution think that corporate social duty is a much exterior part of their concern,
whereas most think it to be an digressive issue for their business as satisfying their
customized/clients is more important for them. It is further felt that customer contentment
is only astir price and service, but concentrating on only these aspects of business makes
them blind folded towards other of import changes taking place world-wide that could
blow the business concern out of the H2O. The change is named as social duty which is
an accidental in itself for the concern.
 The lack of beginning, including finances, human capital, knowledge, and expertise, has
been according to be a common barrier to CSR implementation. In fact it is found that
for effective execution of CSR in shipping, large amount of beginning is required.
However, budgets for instrumentality CSR are often deficient and outcompeted by other
undertaking which writ high tax return on investments . In addition, most shipping
institution do not have a dedicated department that pull off CSR. In many cases, the duty
to pull off CSR is assigned to other go whose public presentation are appraised based on
their original scope of dutiesindirect tax
 Measurement systems are needful to quantify the welfare for unit CSR. Later, they serve
as a useful tool for the rating and power of CSR performances, and as a basis for rewards.
Nevertheless, CSR is a fuzzy nomenclature and is appreciated to incorporate antithetic
meaning by director . It is often used junction with conception relating to property,firm
disposal, business ethical motive, and steadfast legal status. Consequently, different
views on CSR may pose situation for director to derive factual way actions on
implementing CSR (.Kucukusta, Perelygina, and Lam, 2019).
Explain some best theories by considering technological industry with ethical and moral issues.
As per the tradition view of the business, it exists primely to make profits. Here are best
theories that helps in understanding CSR and sustainability in proper explanation.
 The triple bottom line :
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It is the form of corporal social obligation rule that corporates leaders tabularize bottom line
results not only in economic terms but also in terms of company impacts in the societal terms
along wth the situation. There are two keys to this thoughts.
1. Economical sustainability – This values long term fiscal body over more vaporizable,
short term net income. As per the theory, big companies have a obligations to make
business strategy permitting stable and extended operations. That prejudice in favour of
continuance must make institution nervous regarding investment in things like dot
comms. The companies like silicon valley, California are small start ups , some of them
are converted as google, apple and Microsoft. The companies always tries to get away
from the polluting the surroundings or another type of objectionable actions, this may
leads in growing its bottom line in short term.
2. Social property - it values management in people lives and the manner the way people
active. A global countries in which some are facing loss. As the imbalances raises as
rich get more richer and poor gets more poorer, the chance that community itself will
mischance in anger and revolution raises. The free trade movement sets this ethical
exigent to shared chance and income . Improved and civilized as a thought In UK
businesses promotes this movement particularly for big industries in developed
countries to have assurance that providers in developing nations services (Koseoglu,
Uyar, , Kilic, Kuzey and Karaman, 2021).
3. Environmental sustainability – This starts from the registration that natural resources
particularly the things person use on daily basis like water , air and many others.
Conversion of resources,thus becomes enormously crucial as does the improvement of
new beginning of energy that might secondary those are currently using. Recycling or
cleaning up containing that already presented is essential here,a s it restricted the
environmental condition emitted from works, cars and consumer goods in the first
location. All theses are activities that business should contribute note due to they are legal
needed to do so but as the protection of a planets is a straight responsibility within the
triple bottom line theory.
 Stakeholder theory : it can get impressed from the wrong practices. In order to features
reasonably and proposition within the society, the arrangement must make it broad that
they do not behaviour any wrong activity. The neutral are the key personnels of the
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business who lend to the business in accomplish its goals and verifiable. They are the
main asset of the institution who work difficult in accomplish the objects of the
arrangement. In case of any wrong state being practices by the establishment, they may
face encouragement as their hard work is not satisfying the custom-made.
DEONTOLOGY
This theory was supported by Immanuel Kant which provides a person must implement
its duties to some other social group or single because when any person continue the duty of
other, it is reasoned as morally correct. It focuses on aim rather than on actions to act for the
bully of other people. Reported to Kant, doing right property matter the most regardless of its
result which may justification harm to another
In circumstance to the technical industries, this concept has its request in context that the
institution must prosecute itself in such act which respect the self-respect of others. Similarly it
must get rid of the conception of social media so that the users don't give the money in such act
which are not quality for them and even if they social media technology it must be work on
providing thing good to the masses so that their genitor don't see it philosophy.
The benefits to this theory is that it make individual duty on the individual that the
action must be such which convey sympathy in determination. It has a nonsectarian request. The
susceptibility of this explanation is that it does not give rule basis for important the duty of an
single or there might be struggle in work for an individual (.Baskentli, Sen, Du, and
Bhattacharya, 2019.).
Suggestions for business in the chosen industry to help them in being more responsible in global
consideration.
The following are some suggestions or recommendations through which companies in
technological industry can adopt in order to make their business more responsible, ethical and
sustainable towards their local community, employees, customers and other stakeholders. The
recommendations are mentioned below:
 Set up a social mission: The best head first way to make the organisation societal
responsible is to develop a social missionary post. Almost institution have their own
vision and mission government, but is also important to involve a third one that shows
how a business will actively look for the ways to help their local community. It is also
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suggested that company in technological industry do not create vague in the statement of
mission, as it can be tough to understand by the team and changes are they won't be able
to develop plans around it. Also, look for the resources that can be used to support the
local community while building realistic mission that concentrates on promoting
transparency and team work.
 Educate employees: In order to make the organisation more ethical, responsible and
sustainable, there will be a need of support from the team members. Hence, they should
be involved and engaged in every step of the way. Employees need to comprehend the
business issues related with the sustainability or any kind of ethical consideration so that
they find the issues to address such things in the business.
 Encourage volunteering: Volunteering creates a clear difference, so it can be beneficial
to reward the employees who make decisions to enroll, along with volunteer in social
programs. Companies can use social media platforms to create social events and
encourage audience to participate in the events voluntarily, it makes a clear difference
between who does it forcefully. Also, it helps in reaching the target in more efficient way.
 Commit to protecting the environment: Create policies and procedures that enables the
organisation to fulfil their commitment towards the environment. Such as, one can
consider producing the report that shows the results and activities as they link to the
environmental influence. Some organisations create wider “sustainability” reports which
covers social, environmental and economic activities.
 Do not greenwash the business: In the chosen industry, organisation need to exploit
different marketing techniques that are honest and fair and that reflect the organisation's
integrity. It is also vital to avoid to communicate and advertise that could be seen as
harmful and manipulative to the public. Organisations also need to ensure their talk or
communication and does what they said among the public in order to avoid backlash by
the customers.
 Limiting the need to travel at all by hosting video conferences: As the technological
sector is growing day by day and the use of computers or mobile phones rising among
people, it is a way by giving video conferencing to people they can make their life easier
and sustainable (Abdelhalim, and Eldin, 2019) .
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CONCLUSION
it is concluded from above report that business ethics, social responsibility and
sustainability are link and connected with many sections with in all inclusive strategic
management model. It is also analysed that many particulars potentially taken into
consideration that it is not the moral and ethical things for an industry or company to be
informally reckless. Socially answerable notices to activities of an organisation which takes
what is legal responsibility as the degree in which the business process and activities security
and many other sources for causation of broad spread destruction to the natural surroundings. As
been discuss in above report about CSR concept and its moral responsibility. This is also
implied that business must take care social responsibility to run a business systematically.
References:
Books and Journals
Abdelhalim, K. and Eldin, A.G., 2019. Can CSR help achieve sustainable development?
Applying a new assessment model to CSR cases from Egypt. International Journal of
Sociology and Social Policy.
Baskentli, S., Sen, S., Du, S. and Bhattacharya, C.B., 2019. Consumer reactions to corporate
social responsibility: The role of CSR domains. Journal of Business Research, 95,
pp.502-513.
Koseoglu, M.A., Uyar, A., Kilic, M., Kuzey, C. and Karaman, A.S., 2021. Exploring the
connections among CSR performance, reporting, and external assurance: Evidence from
the hospitality and tourism industry. International Journal of Hospitality Management,
94, p.102819.
Kucukusta, D., Perelygina, M. and Lam, W.S., 2019. CSR communication strategies and
stakeholder engagement of upscale hotels in social media. International journal of
contemporary hospitality management.
Miller, S.R., Eden, L. and Li, D., 2020. CSR reputation and firm performance: A dynamic
approach. Journal of Business Ethics, 163(3), pp.619-636.
Overton, H., Kim, J.K., Zhang, N. and Huang, S., 2021. Examining consumer attitudes toward
CSR and CSA messages. Public Relations Review, 47(4), p.102095.
Sardana, D., Gupta, N., Kumar, V. and Terziovski, M., 2020. CSR ‘sustainability’practices and
firm performance in an emerging economy. Journal of Cleaner Production, 258,
p.120766.
Sauerwald, S. and Su, W., 2019. CEO overconfidence and CSR decoupling. Corporate
Governance: An International Review, 27(4), pp.283-300.
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Waheed, A. and Zhang, Q., 2020. Effect of CSR and ethical practices on sustainable competitive
performance: A case of emerging markets from stakeholder theory perspective. Journal
of Business Ethics, pp.1-19.
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