Understanding the Dynamic Nature of Business and the Need for Responsible and Ethical Management

This essay explores the dynamic nature of business and the importance of responsible and ethical management in the global business environment. It discusses the need for organizations to adapt to changing business environments and adopt ethical principles and corporate social responsibility. It also highlights the importance of individuals and organizations managing responsibly and sustainably in relation to social, environmental, cultural, and economic issues.

Context of business

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
1. Understanding dynamic as well as changing nature of business along with consideration
about future of entities within global business environment.......................................................1
2. Identification of need for individuals addition to organisations to manage responsibly,
sustainably together with behaving ethically in context to social, environmental, cultural and
economic issues. .........................................................................................................................2
CONCLUSION................................................................................................................................3
REFERENCES................................................................................................................................4

INTRODUCTION
Business is characterised as enterprises that are engaged in industrial, professional as well
as commercial activities with the objective to gain more profits (Bell, Bryman and Harley,
2018). In other words, Business is termed to an economic system that manufacturers
commodities for the offering purposes so to exchange money. Context of business is said to
particular employed that may be large business community or an individual enterprise. The essay
is based on dynamic as well as changing business nature along with considers future of
organisations within global business environment. It also covers need for individual together
with organisations for managing responsibly along with sustainably and ethically in relation to
economic, social, cultural and environmental issues.
MAIN BODY
1. Understanding dynamic as well as changing nature of business along with consideration about
future of entities within global business environment.
Business is the organised efforts addition to activities of individuals for manufacturing
and selling commodities for profit. A business starts with unique idea as well as a name. It is
formed after development of proper business plan that involves formal document having details
about strategies, goals and objectives. Depending on the business nature, the business
environment of particular entity is quiet dynamic and involves diverse factors that changes
drastically and rapidly as per the passage of time (Charfeddine, 2016). Thus, the changes in the
environment within business are required by the organisations worldwide to adopt various ethical
principles along with corporate social responsibility. In addition, business organisation are
required to modify the existing internal environment so that in coming future they can comply
with corporate social responsibility in effective manner. For instance, a business organisation
like Burberry within United Kingdom should develop their organisational culture so to instil
values such as adherence to national values, transparency as well as considers ethical aspects of
other countries. The structure addition to culture connected with an organisation would help in
adhering principles concerned with global business environment.
1

2. Identification of need for individuals addition to organisations to manage responsibly,
sustainably together with behaving ethically in context to social, environmental, cultural
and economic issues.
Macro environment is described to circumstances which exists within the whole economy
despite of specific sector or region. Within such environment, several types of elements exists
which are adhered by an individual as well as business organisation to ensure that while
performing activities they follows ethical framework (Moore and et. al., 2015). In addition,
several reasons exists that sates the reasons for importance for managing responsibly, sustainably
together with behaving ethically in relevance with pertaining issues in macro environment.
The reasons in context to various entities are competitive advantage, enhanced customer
integrity, social welfare and brand image. In context to build strong brand image, all
organisations wants to expand their activities and operations globally. Brand image will help in
easily launching a new premise in several developing along with developed nations which will
ensure them to perform business activities in better manner and manage the sustainability. For
example, Coca Cola would adopt digitalisation techniques to address issues concerned with
economical as well as social factors in order to move forward. The management team of the
company by delivering digital services at localities where no or minimal financial infrastructure
exists will help in improving goodwill of the entity in wider market which will build strong
brand image of the company (Hood, 2012). The another reason for business concerns and
individuals to remain ethical in relation to environmental issues is to gain competitive
advantage. For instance, Tesco is one of renowned merchandise retailer having competitors like
Asda, Marks and Spencer. Adherence to aspects such as rendering cultural integrity environment
at different superstores, supermarkets and convenience shops, the company manages their
responsibilities while providing products at reasonable prices that benefits in gaining customer
support by satisfying their preferences with needs along with acquiring wider market shares.
Similarly, solving environmental issues by implementing merchandise safety measures will help
in gaining support from political parties as well as government throughout the regions or areas in
which they performs activities. The another strongest reason for the companies should behave
ethically in relation to various macro environmental issues is to empower society members.
Empowerment is very crucial to restore balances within societies along with individuals who are
under represented because of inappropriate political stability and social inclusions. The
2

organisation like United Nations Entity has taken an initiative for empowering millions of female
entrepreneurs in the coming years. This initiative will pave a path for numerous women to
contribute better towards nation's economy along with ensuring social exposures to those who
are facing problems of cultural oppressions.
The impacts of CSR are also noticed on the practices of leadership within the
organisation too. In modern era, leaders are required to create transparency with staff members
while framing policies, strategies and regulations of the entity as part of activities concerned with
corporate social responsibility (Ruggieri and Abbate, 2013). In addition, organisational leaders
plays role to motivate employees through their leadership styles that will enhance working
capability of manpower to increase productivity along with generating revenues for business. It
further help in performing activities for society welfare along with building strong market image
while operating internationally within global business environment.
CONCLUSION
As per the discussion it has been concluded that business is an activity which makes
livings and money for individual through buying and selling commodities or services. While
operating globally, organisation faces issues associated with culture, environment, social
addition to economic. It is also very important to consider macro environment while framing
future aspects for development and should be modified to sustain within dynamic environment.
The reasons for behaving ethically and managing sustainability in relation to diverse macro
environment issues are competitive advantage, empowering society and building brand image.
Leaders in modern era also experiences positive impacts while adoption CSR as well as
promoting same around the entities.
3

REFERENCES
Books and Journals:
Bell, E., Bryman, A. and Harley, B., 2018. Business research methods. Oxford university press.
Charfeddine, O. B., 2016. Business environment-aware management of service-based business
processes (Doctoral dissertation, Université Paris-Saclay).
Hood, J. N., 2012. The relationship of leadership style and CEO values to ethical practices in
organizations. Journal of Business ethics. 43(4). pp.263-273.
Moore, S. A. and et. al., 2015. Effects of alpha-amylase reaction mechanisms on analysis of
resistant-starch contents. Carbohydrate polymers. 115. pp.465-471.
Oldman, A. and Tomkins, C., 2018. Cost management and its interplay with business strategy
and context. Routledge.
Ruggieri, S. and Abbate, C. S., 2013. Leadership style, self-sacrifice, and team
identification. Social Behavior and Personality: an international journal. 41(7).
pp.1171-1178.
4