Ethics, Responsibility and sustainability Assignment
Added on 2021-02-19
12 Pages3791 Words26 Views
Ethics, Responsibility andsustainability
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................11) Analyse theories related to duties, morals and sustainability.................................................12. Assessing the potential for leading and implementing sustainability and governancepolicies........................................................................................................................................33. Stakeholders and strategic collaboration opportunities in organisation..................................44. Impact of current organisation practices on sustainable development for future ..................6CONCLUSION................................................................................................................................8REFERENCES................................................................................................................................9
INTRODUCTIONEvery organization faces some challenges while going at global level. These challengesmay be related with ethics, corporate social responsibility or sustainability. Ethics can be definedas the principles related with moral values that guides the behaviour (Waddock, 2018). Businessethics means, the study of correct practices and policies in respect of various subjects likecorporate social responsibility, corporate governance etc. The objective of firm is not onlymaximizing revenue but also to protect the interest of society like consumers and community asa whole. Sustainability means the ability to upheld. Business should make efforts for controllingthe negative effects of activities on environment. The Report is based on Woolworth Group. Itbelongs to retail industry. It was founded in year 1924. Headquarter of company is located atSouth Wales, Australia. It operates supermarkets, hotels, Woolworth online etc. The Report willoutline theories related to ethics, responsibility and sustainability. The potential of business forleading sustainability and governance policies in organization. It will also describe stakeholdersfor business and determine the impact of organizational practices on sustainable development inthe future.MAIN BODY1) Analyse theories related to duties, morals and sustainability.Corporate Social Responsibility : It refers to self regulated model for the business that assist thefirm to remain socially accountable to itself, public and other stakeholders. With the help ofCSR, business provides various benefits to society as well as it also helps to boost the brandimage of firm (Purvis, Mao and Robinson, 2019). There are various CSR challenges that Woolworth may have to face in diverse global-local context such as lack of transparency, ignorance of main areas of the society etc. Woolworthshould use the following model of social responsibility of the firm. It is described below - The socio-economic model of corporate social responsibility -The traditional view of social responsibility of company is based on economic model.Whereas, modern authors of corporate social responsibility believes that organization have aresponsibility not only towards shareholders but also towards customers, suppliers, employeesand public etc. This view of modern proponents is based on socio-economic model of CSR.According to this theory, the activities of business also have an impact on the society. Therefore,Woolworths should consider the impact of activities before taking decisions. Nowadays, there1
are various firms that are using this model due to various reasons. Firstly, it will be in theforemost interest of the company because of challenges in global local context. This will alsohelp firm to avert any type of problem that may arise due to legal action taken by thestakeholders. Ethics : It refers to the branch of moral beliefs that includes defending, ordering and suggestingthe concepts of right or wrong. Ethical behaviour of the business helps to attract large number ofclients towards the product of firm therefore, it helps to increase sale and profit of theorganization (Mudrack and Mason, 2019). The areas of business in Woolworth will be affectedby global perception of socially, ethical and moral responsible behaviour. Such as ethics andmanagement, corporate social responsibility, ethics and corruption etc.There are various types of ethical theories that Woolworth may follow such asDeontology, Utilitarianism, rights and virtues etc. Deontology -The theory of deontology says that, people and business should comply to their dutiesand obligations when they are involved in decision-making when ethics are involved. The theoryinvolves various positive attributes but, it also involves various flaws. One limitation of thistheory is that, there is no rationale for deciding duties (Davies, 2016). Utilitarianism -This theory is based on the power to forecast the impact of various actions. Forutilitarian, the option that offers the greatest advantage to most of the people is ethically correct.The theory is divided into two categories that are rule and act utilitarianism. These theories alsohave certain limitations. Firstly, no one can accurately predict the consequences of their actions.Further, comparing material gain is very difficult because their qualities differ at large extent. Sustainability :It refers to ensuring that the health of human beings is being protected, and they will haveaccess to basic resources and enjoy better quality of life. Sustainability has three differentelements such as economy, environment and society. Woolworth may use different models forsustainable development. These are as follows -Three pillars model :This model is also known as triple bottom line. It is the most widely used model forsustainable development. Here, term pillar means change in different versions include social2
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