Essay on Business Ethics (pdf)

Essay

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
CONCLUSION................................................................................................................................3
REFERENCES................................................................................................................................4

INTRODUCTION
Business ethics refers to all those values and principles that an organization should follow
and helps in guiding the behaviour in the organization. Ethics are the set of rules that an
organization should follow or can be said that a particular code of conduct that businesses are
expected to follow while doing a business. Corporate Social Responsibility is the responsibility
of the business and its positive impact on its stakeholders, society and the government. Itb
includes sustainability, social impact and ethics.
MAIN BODY
The advancement of technology has impacted on the business as by increasing its
efficiency in the production and operational activities. Technology has also helped in many fields
as in case of finance it has initiated the use of integrated software to manage the data of the
business as well as analysing its various outcomes and results in order to help in decision making
to the companies. Technological advancement has changed the complete scenario of the business
but it is equally important for the business to establish its responsibility towards society through
following the ethics, rather than just focussing on its primary objectives(Barry, 2016).
Importance of business to manage responsibly, sustainably and behave ethically in relation
to social, cultural, economic and environmental issues-
Society is the most integrated part of any business as it contributes to the success of
business in many ways. So its an important responsibility of the business to focus on the interests
as well as development of the society where it carry out its activities. This establishes the good
conduct and behaviour of the business in the eyes of society as well as enhance the growth of the
business. Various activities such as donation to the schools and hospitals of the local area, as
well donations during the various issues that may include natural calamities etc., creating
employment for the people in local region and various other activities in the favour of the society
establishes the good conduct of business and the company in that particular society(Trevino and
Nelson, 2016).
Culture of particular region also serves as equal importance to the business as it include
the interests of the people, their tastes and habits as well as their values and traditions. Business
must develop or design its products that fulfils these interests and habits of the customer in a
particular region and also deal with all the problems of the customers until they are satisfied.
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This shows the responsibility of the business towards the culture of the people and also create the
good image and impact on the people which will further lead too many advantage related
activities to the company.
Economic issues leads to various complications for the business as they are directly
related to the monetary terms which may directly affect the profitability of the business. Business
must come up with the policies that it can improve the economic conditions of the business. This
can include creating employment opportunities for the people and following its ethics of
providing fair wages to the workers in order to help them deal with the high prices in the market
and the high cost of living as well(Wang and et.al., 2016).
Environmental issues such as scarcity of raw materials, non availability of the resources,
pollution and carbon emission in the environment as well as the threat to the nature caused by the
business activities. Business must behave responsibly and make the sustainable use of resources
so that the extinct resources can be utilized in the future. The business must also avoid the
wastages and over utilization of resources and make its optimum use for its production. Along
with that the business must create the products out of the wastages as well as adopt the process of
recycling so that it can replace the use of scarce resources. Business must use its production
techniques which does not harm or pollute the environment for instance- it must reduce and
maintain its carbon footprints according to the set environmental standards. Business must come
up with the products that does not harm the nature and which can be easily recycled. It must also
find the alternative sources for its requirement so that it can contribute towards the betterment of
the nature and protect the resources from being used all over(Crane and et.al., 2019).
Thus in these ways the organization can deals with various issues and behave
responsibly, ethically and sustainably towards these aspects discussed above.
CSR impact on leadership in the modern organization
CSR component is being widely practised and implemented by the modern form of
organization according to the current trend of business. The organizations have made CSR as its
important objective along with the profit making and growth. However, leadership plays an
important role in implementing the CSR values in an organization. As The leaders are the ones
who influence and motivate the people to work in an organization, it is dependent mainly on the
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type of leadership style that leaders follow and how they train the individuals to adopt this
concept in their mind. Employees totally rely on the leaders for guidance when they face the
ethical dilemmas. Leaders are the ones who anticipate the changes and act as a catalyst in order
to shift the organization towards a sustainable society. Also to adopt any concept there must be a
medium of motivation and influence so that the people in an organization respond positively
towards the change, this can be done through an effective leadership of the leaders and their
efforts to make the individuals adopt the change and work with it effectively. Thus the leadership
plays an important role in adoption and implementation of CSR in an organization(Unit, 2015).
CONCLUSION
From the above report it is observed regarding the use of business ethics and its
importance in the modern context of organization. The report also studies the need of the
organization to manage responsibly, sustainably and behave ethically in relation to various
social, cultural, economic and environmental issues. The report concludes by observing the
impact of CSR on leadership, stating the role of leadership in case of CSR in organizations.
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REFERENCES
Books and Journals
Unit, B., 2015. Corporate social responsibility.
Crane and et.al., 2019. Corporate social responsibility: Readings and cases in a global
context. Routledge.
Wang and et.al., 2016. Corporate social responsibility: An overview and new research
directions: Thematic issue on corporate social responsibility.
Trevino, L.K. and Nelson, K.A., 2016. Managing business ethics: Straight talk about how to
do it right. John Wiley & Sons.
Crane, A. and Matten, D., 2016. Business ethics: Managing corporate citizenship and
sustainability in the age of globalization. Oxford University Press.
Barry, N., 2016. Business ethics. Springer.
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