HC2121 - Business Ethics & Social Responsibility Individual Essay

This essay provides an overview of business ethics and social responsibility, discussing the relevance of ethics in the business environment, stakeholder roles, and the impact of corporate governance. It explores the differences between personal and business ethics, contrasting diverse approaches to ethical decision-making. The essay also examines how individual ethical judgments are made and how they may vary, highlighting the importance of ethical policies in fostering a positive and trustworthy business environment. The document is available on Desklib, a platform offering a wide range of study resources including past papers and solved assignments for students.

Business ethics of Australia
Name
Professor
Institution
Date

Introduction
Generally, different reports have revealed that online as source of information has helped in
spreading appropriate information to the marketplace. The news received from the online
services aids in identifying the market gap within the marketplace. According to Barry & You
(2017) online business advertisement news covers the entire population thus investigating
economic issues related to business within the society. Therefore, based on the current
successful marketing which was adopted in Australia, it was noted that the online business
advertisement fueled its success and achievement. This is so since most young generation
normally interested mainly through the online supply of goods and services. Therefore, shared
holders and some of the government parastatal individual provides a mechanism which aims at
giving good information in relation to the marketing products and services. However, through
the invention and innovation, online has improved a lot especially in spreading the potential
news which boosts the adoption of the new idea based on the business opportunity thus
integrated the market research. However, with references to the news regarding business, which
was analyzed by Australia, clearly indicates huge progress that the government has realized to
bustle the life of the individual. Since the economy of Australia entirely relies on the business,
thus making progress in the business opportunity especially online advertisement not only
benefits the common individuals but shapes the reputation skills of the Australian worldwide.
Contrary to business approach in the past, currently it is more evident that most of the activities
are being done through in the digital platforms; this makes it easy for individuals to engage in the
online business which tends to promote the efficiency in the heart of the business. Importantly,
information which was marred in the newly formulated business states that Australian
government decided to come up with a better idea on how to reduce the amount of the task levied

on the small entrepreneurs so that they can also live in a better life thus expand their ideas on the
business. As stated above, the essay will illustrate some of the differences between the personal
as well as business ethics in an organization. It will also identify stakes holders role in the
business ethics, thus come up with a clear definition of the social responsibility hence it giving
further verdicts on the exploration the role of corporate governance in formulating the ethics as
well as the social responsibility in the business. Finally, it will also bring into light the
comparison and contrasts on diverse approaches on the business especially in terms of the
decision making (Flew & Swift, 2013.p.35).
The relevance of the ethics in the business environment
Business ethics determined the concerns of the individual in the business environment. The
policies formed by the organization helps in giving a sense of direction (Waring & Lewer,
2013.p.380). Therefore, most of the policies which are drafted and passed as the law ethics of
business have moral support to the entrepreneurs in terms of making the right decision in the
business. This is so in consideration of the hypothesis of the Ahmad and Seet (2009) on
Dissecting behaviors associated with business failure: A qualitative study of SME owners in
Malaysia and Australia. Asian Social Science. The effect of ethical policy aims at rejecting some
of the possibilities which might results in short terms profits in any kind of business
organization. Therefore, based on the above illustration it is clear that ethical and joint social
responsibility may result in benefits within the business organization. This is so due to the fact
that the policy may influence the customers’ interest hence boosting the sales of the goods and
services (Munsie et al., 2017.p.156). However, policies are necessary since it also enhances the
employees’ wants and interest to stay in the business. More importantly, policies may have
positive impacts to entrepreneurs since it stipulates the role of the casual workers and some of

their responsibilities in the working areas thus enhances the stability of the company in terms of
the skilled workers required in forms of the cheap labor (Putnis, 2010.p.20). Furthermore, by
identifying the interest of the company may make unskilled workers improve in terms of the
efficiencies (Myllylahti, 2014.p.267.p.278). Provision of fair policies in the working places
creates a good environment for skilled and non-skilled labors to offers to their best to the
company thus improving the efficiencies and trust within the business organization. Therefore,
companies which instill bad ethical conducts within the business management are at risk of being
fined for their poor immoral behavior. Thus most of the companies will uphold high reputation
since it one of the most valuable assets in the grassroots for the customers. Since most of the
business management relies solely upon the code of conduct of the business ethics and they
stressed on the use of the ethical code in all the aspects which carry the social responsibilities,
thus failure to which may lead to dire consequences.
Demonstrating own decision making/judgment processes in relation to the ethical issue
demonstrating how individual ethical judgments' are made and how they may vary.
The decision-making process is one of the key aspects of business management. Therefore, all
the companies are expected to have their own policies and principles, which guide them in the
entire activities. Business ethics help a different individual to keep attached such that if it is
employee, then they will be able to know the conducts of the casual workers, customers’ wants
as well as investors plan. Therefore, ideal ideas are made depending on the communities’
perceptions as well as the interest of the consumers. However, good decision making will
enhance all the groups to be at ease with each other thus resulting in the formation of the new
idea with the aim of promoting the business. Based on the researches which were conducted by
the non-governmental organization of Australia suggest that most of the individual managers

who refute or fails to take up their responsibilities, their business fall at the risk thus owners may
run at a loss (Shoemaker & Cohen, 2012.p.356). Majority of the decision made have some
adverse effects in management as well as the outcomes of the customers’ interest in certain
commodities they buy. Decision theory idea is characterized as follows, Consequentiality
theories, that entirely based primarily on ethical outcomes of a particular action, Non-
consequentiality theories, which barely based on the some of the driven factors that make an
individual come to the conclusion of their decision. The last theory of the decision may be made
through agent-centered theories that concern with general status of the individuals, agents but
pay less attention to the identity of the impurity of the different individual within an organization
(Cunningham, 2010.p.56).
The different ethical judgment does vary depending on the environment and moral of the specific
communities. Basically, ethics which the communities are nourished upon plays a lot in the life
of the business managers (Young, 2010.p.345). Always, no one will need to make some of the
policies which will favor different workers place but they will form one which favors their
commands. Therefore, the main target before one makes an optional decision with interest in
improving their business then, they must know the interest of the public. This is so since some of
the communities like specific items which when missed within the business then automatically
the business failed. The right approach of the ethic is one which is founded on the different
dimension in that it gives room for both the manager as well as casual workers, skilled workers
and investors within a business organization. Therefore, individual ethical decision stipulates the
best ethical action which aims to protect the rights of the individual as well as the group of the
organization within the business management (Barry & You, 2017.p.56).

Conclusion
Therefore, to sum the essay has clearly articulated on some concepts related to business ethics.
Different stakeholders in the marketplace have emulated various ethics which conforms to social
responsibility. In addition, the role of corporate in the organization as discussed in the paper
helps in presenting the legal framework of the business. On another hand the relevance of
business ethics determines the concerns of the individual in the business environment. Therefore,
most of the policies which are formulated as the law ethics of business have moral support to the
business stakeholders in terms of making the right decision in the business (Cunningham,
2010.p.156).The issue is that business ethics within the organization is always determined by the
personality traits exhibited by the shareholders. In addition judgment processes in relation to the
ethical issue is exhibited in different dimensions. Most of the decision formulated impacts the
business ethics both positively and negatively. The overall judgement based on the ethic level
will help in inducing new concepts which boost the overall application of business ethics. The
business ethics therefore articulates that no one is supposed to draft policies which will favor his
or her interest. Formulating policies based on the terms and conditions contained in the
organization code of ethics will ensure there is spread of morals in business unit.

References
Ahmad, N.H. and Seet, P.S., 2009. Dissecting behaviours associated with business failure: A
qualitative study of SME owners in Malaysia and Australia. Asian Social Science, 5(9), pp.98-
104.
Barry, M. and You, K., 2017. Employer and employer association matters in Australia in
2016. Journal of Industrial Relations, 59(3), pp.288-304.
Cunningham, S., 2010. The media and communications in Australia. Read How You Want.
Com.
Flew, T. and Swift, A., 2013. Regulating journalists? The Finkelstein Review, the Convergence
Review and news media regulation in Australia. Journal of Applied Journalism & Media
Studies, 2(1), pp.181-199.
Munsie, M., Lysaght, T., Hendl, T., Tan, H.Y.L., Kerridge, I. and Stewart, C., 2017. Open for
business: a comparative study of websites selling autologous stem cells in Australia and
Japan. Regenerative medicine, 12(7), pp.777-790.
Myllylahti, M., 2014. NEWSPAPER PAYWALLS—THE HYPE AND THE REALITY: A
study of how paid news content impacts on media corporation revenues. Digital journalism, 2(2),
pp.179-194.
Putnis, P., 2010. News, time and imagined community in colonial Australia. Media
History, 16(2), pp.153-170.
Shoemaker, P.J. and Cohen, A.A., 2012. News around the world: Content, practitioners, and the
public. Routledge.

Waring, P. and Lewer, J., 2013. The global financial crisis, employment relations and the labour
market in Singapore and Australia. Asia Pacific Business Review, 19(2), pp.217-229.
Young, S., 2010. THE JOURNALISM “CRISIS” Is Australia immune or just ahead of its
time?. Journalism Studies, 11(4), pp.610-624.