Business Ethics: Leadership, CSR, and Global Environment Report

This report delves into the critical aspects of business ethics, emphasizing the importance of responsible management, sustainability, and ethical conduct in the global business environment. It highlights the dynamic and evolving nature of modern businesses and the necessity for organizations to integrate Corporate Social Responsibility (CSR) policies to address environmental, social, and economic issues. The report discusses the impact of leadership in modern organizations, underscoring how effective leadership, particularly through participatory and democratic styles, is essential for achieving business goals and fostering ethical practices. It also analyzes the significance of CSR for brand reputation, customer engagement, and talent retention, as well as the role of ethical practices in attracting investors and maintaining positive media coverage. The report concludes by summarizing the key findings, emphasizing the crucial role of CSR and leadership in ensuring the long-term success and competitive advantage of businesses in the global marketplace.

ETHICS IN BUSINESS

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Importance of managing responsibly, suitability and behave ethically in the global business
environment. ...............................................................................................................................1
Impact of leadership in modern organisation..............................................................................2
CONCLUSION................................................................................................................................3
REFERENCES................................................................................................................................4

INTRODUCTION
Business ethics is the study of suitable policies and practices of the businesses regarding
potentially debatable subjects including corporate governance, insider trading bribery,
discrimination, fiduciary responsibilities and corporate social responsibilities (Davies, 2016).
This present report will highlight the dynamic and changing nature of the businesses as well as
need for organisations and individuals to manage sustainable responsibilities and ethical
practices.
MAIN BODY
Importance of managing responsibly, suitability and behave ethically in the global business
environment.
In a changing, dynamic and modern world, the way businesses carried out many years
ago drastically changing today. It becomes quite easy to conduct the business at global level due
to availability of advance technologies. But, it is very important for business owners to conduct
ethical business practices by adhering the cultural, environmental and economic issues in global
business environment. All the policies of Corporate Social Responsibilities (CSR) must be
considered a key element in the businesses activities (Crowther and Seifi, 2018). A business
alone cannot sustain in the marketplace by earning high profit but they have to manage the
cultural, environmental and economic issues. Social Responsibilities include empowering
women, efforts to end poverty, helping environment. In United Kingdom, more and more
companies are integrating social responsibility into there business strategies because of it directly
affect the entire businesses. Considering CSR policies and practices is not only beneficial for
environment and society but it is also leading to positive impact on the businesses like it
improves the brand of the company, engaging customers, gain competitive advantage and
retaining top talent within business.
As per the report of Ebiquity Global CSR Study, about 91 percent of international
customers wish businesses to function responsibly to addresses economic, social, and
environmental issues (Report of Ebiquity Global CSR Study, 2016). Customers are now highly
aware of social responsibilities. So for increasing customer base and make the customers loyal to
the firm, it is important for businesses to practice ethically in both domestic or global level. By
conducting the business ethically it shows that businesses is taking interest in wider
environmental and society issues instead of just raising profit margin that ultimately attract
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customers who share the similar value. Businesses are cutting trees for building offices,
degrading wastage, pollution and many other environment issues that raises the environmental
issues which also affect emotions of society. If businesses considered the corporate social
responsibilities, it raises the brand recognition and awareness. Businesses have to do behave
fairly with the employees of the company and must have policies and strategies for the welfare of
employee's (Hopkins, 2016). Conducting ethical business practices and incorporating CSR
policies also leads to raise the media coverage as it sheds a positive light in the whole businesses.
However, positive media coverage also retain and attract the investors as they also feel valued
and worth investing or trading with the company that is highly sustainable and ethical towards
the society, economy and environment. Thus, it is very important for businesses to manage
responsibly, sustainably and behave ethically in the business.
Furthermore, environmental issues leads to dangerous effect on the biodiversity and
humans. It is very important that businesses should protect environment by conducting ethical
business activities (Yakovleva, 2017). In UK, wastage of plastic and global warming is one of
the biggest concern. So, it is very important to for businesses to overcome this threat because if
society is not satisfied or unhappy with, it will badly influence the entire businesses. These are
the reason why Corporate Social Responsibilities has becomes one of the crucial part of the
business practices of over time.
Impact of leadership in modern organisation
Leadership plays a key role in effective functioning and operations of the organisation
wither modern or traditional but especially in modern organisation. Modern organisation is one
who do not only relied on raising profitability but they have to consider the corporate social
responsibilities because customers are now highly aware and attracted towards ethical businesses
practices of businesses products and services. Today, companies are penetrated in a competitive
as well as perpetually changing environment (Reunanen and Kaitonen, 2017). Leadership
phenomenon attract the attention of public over longer time. The process by which the activities
of individual operating within organisation is directed towards the achievement of the desire
goals and objectives of the firm is called leadership. It is very important to the best leadership
style for managing responsibly, suitability and behave ethically in the global business
environment. Leader is a person who can lead the entire company in present turbulent
environment as well as one who effectively cope up with all the changes. It is true that leadership
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and Corporate Social Responsibilities are tightly aligned as without leadership it is not possible
to achieve the desire goals and objectives of modern organisation.
Leadership helps in setting and communicating the vision that takes into account so that it
becomes clear to all the stakeholders that organisations is considering and adhering social,
economic and environmental issues. The best leadership style that is best for achieving the desire
goals and objectives of modern organisation is participating and democratic leadership. It is
because, they involve the views and opinions of employees that makes them worth working with
the company as well as it also allows making effective decisions regarding social responsibilities.
In addition to this, In modern organisation, the best leaders are one who adjust the leadership
style when it is required (Pava, 2015). It is because modern organisation have to deal with many
external factors that directly or indirectly influence the entire business activities, so it is
important to adjust the leadership style when required.
CONCLUSION
From the above essay it has been concluded that corporate social responsibilities plays a
crucial role in the development and growth of entire organisation. It is very important for the
businesses to manage responsibly, suitability and behave ethically in the global business
environment because it directly influences the business reputations and public image. Further,
report alsi included the discussion of leadership in modern organisation and it is identified that
leaders are the key to sustain the businesses and gain competitive benefits in the global business
environment.
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REFERENCES
Books and Journals:
Crowther, D. and Seifi, S. eds., 2018. Redefining Corporate Social Responsibility. Emerald
Group Publishing.
Davies, P.W., 2016. Current issues in business ethics. Routledge.
Hopkins, M., 2016. The planetary bargain: corporate social responsibility comes of age.
Springer.
Pava, M., 2015. Leading with meaning: Using covenantal leadership to build a better
organization. St. Martin's Press.
Reunanen, T. and Kaitonen, J., 2017. Different roles in leadership styles in modern organization.
In Advances in Human Factors, Business Management, Training and Education (pp. 251-
262). Springer, Cham.
Yakovleva, N., 2017. Corporate social responsibility in the mining industries. Routledge.
Online:
Report of Ebiquity Global CSR Study. 2016. [ONLINE]. Available through:
<https://www.highspeedtraining.co.uk/hub/importance-of-corporate-social-responsibility/>.
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