This article discusses the importance of business ethics and sustainability in organizations. It covers the challenges faced by organizations, prevention strategies, and alternative views. The article emphasizes the need for companies to adopt sustainable practices and focus on social, economic, and environmental benefits for the betterment of society.
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Running Head: Business Ethics and Sustainability0 Business Ethics and Sustainability (Student Name) 9/1/2018 Table of Contents
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Business Ethics and Sustainability1 Introduction................................................................................................................................2 Challenges & Preventions..........................................................................................................2 Alternative views.......................................................................................................................3 Conclusion..................................................................................................................................3 References..................................................................................................................................4
Business Ethics and Sustainability2 Introduction Business ethics and sustainability play a significant role in the world of society and organizations(CraneandMatten,2016).Inthecutthroatcompetition,mostofthe organization crosses the boundaries of business ethics (DesJardins, 2014). The organizations adopt unethical and wrong practices to achieve higher profits and ignore the concept of sustainability which creates direct harm and impact to morals, social values of society and environment at the most (Welford, 2016). Challenges & Preventions In recent, most of the organization has mainly focused on the growth of their organization by sacrificing the ethics and sustainability. In the last decade, global warming is the issue which has been observed. The main contributor to global warming is the emission of the greenhouse gas carbon dioxide which has been produced by burning fossil fuels. The issue of water scarcity has been faced by some of the countries whereas some species of fishes are in danger. Such issues are not been focused on by the companies. Some of the companies also adopted unethical practices in the organization (Carroll and Buchholtz, 2014). Senior authorities are responsible for such issues by not taking steps towards the issues faced by every individual in the society and environment. Therearetheresponsibilityandobligationoforganizationstowardsthesocietyand environment. The companies should start focusing on such activities, which could harm the society and environment (Kolk, 2016). Moreover, companies should form a suitable code of conduct within the organization and take further preventions steps to protect the society and environment as a whole.
Business Ethics and Sustainability3 Some strategies should be followed by organizations such as control and prevention of waste which is generated by the companies, improving the efficiency of energy, use renewable energy, management of natural resources by monitoring on the utilization of resources such as fossil fuels, water to reduce the impact on the environment (Epstein, 2018). The companies should also adopt the concept of Corporate Social Responsibility to deliver social, economic and environmental benefits to their stakeholders for the betterment of the society (Schwartz, 2017). The company should also revise the code of conduct of the organization to make the ethical decisions in regards to management of HR, rights of the employees, appropriate use of business resources, conflict of interest, and impact of business on the society. Alternative views The companies also played significant role in the sustainability development. Most of the companies concentrate on sustainability development in the society. The companies adopted sustainable marketing tools and form code of conduct to follow business ethics in the organization. Therefore, some of the companies contributed towards the growth of society and environment. Conclusion Organizationsinbusinesshavetotakecareoftheneedsforsocial,economic& environmental aspect for sustainability in the long run. All the basic needs have to be fulfilled as the business works in society. They have to adopt certain strategies which help them to overcome the needs. Business should adopt the economic development which is global and regularly monitor for the same so that changes could be absorbed easily.
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Business Ethics and Sustainability4 References Carroll, A. and Buchholtz, A. (2014)Business and society: Ethics, sustainability, and stakeholder management. Canada: Nelson Education. Crane, A. and Matten, D. (2016)Business ethics: Managing corporate citizenship and sustainability in the age of globalization. Oxford: Oxford University Press. DesJardins, J.R. (2014)An introduction to business ethics. New York: McGraw-Hill/Irwin. Epstein, M.J. (2018)Making sustainability work: Best practices in managing and measuring corporate social, environmental and economic impacts. London: Routledge. Kolk, A. (2016) The social responsibility of international business: From ethics and the environment to CSR and sustainable development.Journal of World Business,51(1), pp.23- 34. Schwartz, M.S. (2017)Corporate social responsibility. New York: Routledge. Welford,R.(2016)Corporateenvironmentalmanagement3:Towardssustainable development. New York: Routledge.