Business Ethics and Sustainability - Doc

Added on - 29 Apr 2020

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Business Ethics1Business Ethic and SustainabilityNameCourseInstructorDate
Business Ethics2Organizational Culture and EthicsEach and every business organization emphasizing on ethical behavior has the potential ofcutting down on any form of misbehavior in the organization. Several research activities alsoshow that when businesses develop culture emphasizing on performing the right deeds regardlessof such deeds being expensive, such organization’s leaders consider ethical consequencesregarding their own actions. Organizational leaders that have a moral compass are always thereto set the tone in relation to ethical dilemmas (Leonard 2017).Basically, the desire to do business with, work for or invest in business organizations thatperform good things in the society happens to be strongest with millennials (Blades 2017). Suchindividuals have gained counterintuitively, a reputation of being behavioral experts as well associal scientists studying trends and demographics. On the contrary, it is evident that the adventof platforms of social media gives consumers a voice they never had. Social media has alsoensured that consumers’ voices are heard more often; particularly in instances where businessorganizations do the right thing. A study performed by Aflac International established thatapproximately 51% of millennials link corporate growth to the use of social media. It is alsoworth noting that social media’s impact constitutes access to information that is limitless. Socialmedia ultimately enables consumers to get more informed. Such consumers are considered to bedigitally engaged and have no issues with the provision of feedback to business organizationsthat they believe aren’t responsible in their operations. Such customers are also aware ofdifferences between a community’s authentic concern and marketing ploy (Blades 2017).As much as work flexibility and salary are major factors that determine where an individual willlikely work, approximately 77% of Aflac’s respondents confirm that they would seekemployment at business organizations that are ethically recognized. Companies, therefore, have anumber of things to put right. Business organizations should start by adopting business causesthat are vital for the communities they operate in as well as being relevant to their operations.The business activities shouldn’t just be good; the activities need to be the right things to bedone. Taking the case study of an organization such as Aflac which has supported the fightagainst cancer through time, it is worth noting that the community in which the organizationoperates has benefited a lot. For almost 20 years since the inception of the same campaign, theorganization has donated more than $100 million. This money has been used for treatment and
Business Ethics3research activities on Cancer at several centers of the organization. Doing so is one of the goodcauses this VoP exercise is advocating (Szolnai 2017). Good deeds are sustained and relevant forevery business operation. Such is also the proper thing to do. It is important to note, asmentioned earlier, that consumers favor business organizations that are able to demonstrate theirabilities to handle social responsibilities. Corporate social duties are needed by generations oftoday while the importance of the same is; as well, bound to grow. For those that do not considerincorporating ethics, financial crises have certainly raised alarm for the need of including ethicsin major market decision making processes. Failing companies have also learnt; from theirmistakes, the extent to which corporate reporting has failed to determine risks that are systemic.Shifting to a model for reporting that supports long-term investors’ information needs as well asreflects the nature of environmental connectedness, societal factors and governance would be anessential step in the construction of an economy that is sustainable (Szolnai 2017).
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