Business Ethics, Sustainability and Corporate Social Responsibility
Added on 2021-05-29
18 Pages4443 Words123 Views
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Table of ContentQuestion 01......................................................................................................................................41.0Application of Ethics in Business Contexts..........................................................................41.1Definition of Ethics...........................................................................................................41.2What is Ethics of business?...............................................................................................41.3Comprehension of Business Ethics...................................................................................51.4Business ethics – Identified examples..............................................................................51.5The Advantages of Business Ethics..................................................................................61.5.1Construct customer loyalty........................................................................................61.5.2Enhance the reputation of a company........................................................................61.5.3Retain Good Workers................................................................................................61.5.4Positive environment for job.....................................................................................61.5.5Avoid legal issues......................................................................................................71.6Issues in implementing Business Ethics...........................................................................71.6.1Rudimentary Ethical Issues.......................................................................................71.6.2Diversity and fair working practices..........................................................................71.6.3Issues of decision-making..........................................................................................8Question 02......................................................................................................................................92.0The Concept of Sustainability in a Business Context...........................................................92.1What does sustainability mean?........................................................................................92.2Why Sustainability is important to a business..................................................................92.3Why should all companies adopt sustainability?..............................................................92.4Practical recommendations.............................................................................................102.4.1Align strategies and sustainability...........................................................................102.4.2In compliance with the comparative benefit............................................................102.4.3Reactive to proactive...............................................................................................10Question 03....................................................................................................................................123.0Three Models of Corporate Social Responsibility..............................................................123.1The Economic model of Corporate Social Responsibility..............................................123.2The Philanthropic Model of corporate social responsibility...........................................12Page | 2
3.3The Stakeholder model of Corporate Social Responsibility...........................................13Question 04....................................................................................................................................154.0Code of Conduct – Google Corporation.............................................................................154.1Who is through to obey our code?..................................................................................154.2What if I have a concerns or questions about code?.......................................................154.2.1Assist our customers................................................................................................164.2.2Discourage Conflicts of Interest..............................................................................164.2.3Preserve Confidentiality..........................................................................................164.2.4Protecting Google’s Assets......................................................................................174.2.5Ensuring financial integrity and responsibility........................................................174.2.6Obey the Laws.........................................................................................................174.3Conclusion......................................................................................................................175.0References...........................................................................................................................18Page | 3
Question 011.0Application of Ethics in Business Contexts1.1Definition of EthicsThe area of ethics (or moral philosophy) includes the systematization, protection and suggestionof principles of good and bad behavior. Ethical theories are now commonly divided into threeareas by the philosophers: meta-ethics, regulatory ethics and moral philosophy. Meta-ethicsexplores the origin and meaning of our ethical principles. Are they just social innovations? Dothey provide more than our emotional responses? The questions of the absolute principles, thewill of God, the role of purpose in the ethical judgments and the significance of ethical terms, arethe focus of the meta-ethical answers. Normative ethics tends to take on a more practical job ofachieving ethical code that govern right and wrong behavior. This may entail the articulation ofgood habits, duties and consequences of our behavior and attitude for others that we shouldacquire. Finally, the application of applied ethics involves the study of specific issues ofcontroversy, like abortion, female genital mutilation, animal rights, environmental consideration,homosexuality, death penalty or nuclear war. 1.2What is Ethics of business? Business ethics is an analysis of suitable business policies, procedures and practices inpotentially sensitive areas, including financial regulation, insider trading, corruption,discrimination, social liability and trust. Business ethics are often guided by law, but businessethics are often a basic rule that companies choose to implement in order to gain publicauthorization. 1.3Comprehension of Business Ethics Business ethics ensures a certain rudimentary level of confidence among consumers and differentforms of market players with companies. For instance, a portfolio manager must take intoaccount the portfolios of family and friends and small individual investors equally. Such anapproach ensures that the public is fairly treated. Page | 4
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