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Business Ethics and Sustainability: Lessons Learned

   

Added on  2020-05-08

6 Pages843 Words216 Views
Running head: SELF-REFLECTIONSelf-ReflectionName of the student:Name of the University:Author Note:

1SELF-REFLECTIONThe lessons that have been taken up by me, on ethics and sustainability. Business ethics isimportant to be imparted such that ethical decision making and lessons on emerging businessethics could be learned. In these lessons, the various chapters that are learned include emergingbusiness ethical issues, ethical decision making, stakeholder relationships, corporate socialresponsibilities. I have learnt the philosophies and values that have to be incorporated at apersonal level, to ensure ethical business. I have also learned about ethical leadership andglobalization of the ethical decision-making. Thus, these lessons are important for me. Theknowledge imparted is essential to ensure ethical business and decision-making1. I have learned about the importance of ethics in business. The importance of theidentification of the various stakeholders in a business has been described in the lessons.Stakeholders are defined as people who possess a stake or claim on a company and have anactive participation in the company’s operations. I have gained knowledge about the varioustheories of stakeholder analysis. These include the normative approach, the descriptive apporchand the instrumental approach2. The stakeholders are mainly of two types, the primary andsecondary stakeholders. The primary stakeholders are the people, whose contributions are1Ward, Sharon, Scott Killingsworth, Andrew Leigh, Anthony Smith Meyer, Ludo Van derHeyden, and Phillip Weights. "Ethics in Business."Business Compliance4, no. 3-4 (2015): 75-91.2Crane, Andrew, and Dirk Matten.Business ethics: Managing corporate citizenship andsustainability in the age of globalization. Oxford University Press, 2016.

2SELF-REFLECTIONessential for the survival of the company3. The secondary stakeholders do not engage directly inthe transactions of the companies4. Social corporate responsibilities have to be taken up by thebusiness organizations, in order to gain competitive advantages, and establish them assustainable business. The foundation values for identifying the ethical issues include integrity,honesty as well as fairness. The various ethical issues identified in business includes misuse ofthe various resources of the company, along with theft, assault or false accusation. Bribery anddiscrimination are also some of the ethical business issues that the employees should refrain5.The various kinds of frauds that take place in business are also shed light upon in the lessonslearned by me. Ethical decision-making are important from business perspective6. I haveunderstood the significance of ethical decision-making and learned about various decision-3Hoffman, W. Michael, Robert E. Frederick, and Mark S. Schwartz, eds.Business ethics:Readings and cases in corporate morality. John Wiley & Sons, 2014.4Halinen, Aino, and Päivi Jokela. "Exploring Ethics in Business Networks: Propositions forFuture Research." InExtending the Business Network Approach, pp. 333-356. PalgraveMacmillan UK, 2016.5Ward, Sharon, Scott Killingsworth, Andrew Leigh, Anthony Smith Meyer, Ludo Van derHeyden, and Phillip Weights. "Ethics in Business."Business Compliance4, no. 3-4 (2015): 75-91.6Crane, Andrew, and Dirk Matten.Business ethics: Managing corporate citizenship andsustainability in the age of globalization. Oxford University Press, 2016.

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