Ethics and Sustainability: Poverty's Impact on Business Practices

This essay examines the critical global sustainability issue of poverty, presenting it as a central challenge. It identifies key economic elements such as growth, development, and productivity, emphasizing their impact on job creation and income levels. The essay then delves into two ethical problems: poverty as a label and the restriction of opportunities it imposes, drawing on ethical theories to analyze these issues. Furthermore, it explores the threats and opportunities poverty presents for businesses, including low consumer income as a threat and access to human resources as an opportunity. The essay concludes by highlighting the interconnectedness of poverty, sustainability, and ethical business practices, emphasizing the need for a comprehensive approach to address this complex issue.

Ethics and sustainability

Table of Contents
1. Select one important sustainability issue of global significance and express this issue in no
more than one short sentence.................................................................................................1
2. Describe the key economic elements of this global sustainability issue............................1
3. Discuss the two ethical problems identified in part 5 drawing on relevant ethical theory.1
REFERENCES................................................................................................................................3

1. Select one important sustainability issue of global significance and express this issue in no
more than one short sentence
Poverty is the most important issue of sustainable development from everywhere. The
aim of seven associates is to end the poverty of all the people from everywhere, at-least reduce of
half of the poverty from men, women and children's from poverty (Shah, 2016). National
appropriate social protection system is implemented to reduce the poverty by 2030 to achieve
sustainable coverage over poverty. Some of the actions has to be taken to remove the poverty
that are improvement in livelihoods, job opportunities, the available resource's utilization, social
need etc. Near about 1.3 billion people live below poverty line. 900 million people are
undernourished and approximately 1 billion suffer from vitamin and minerals. Poverty and
sustainability are strongly connected(Lloyd-Jones and Rakodi, 2014).
2. Describe the key economic elements of this global sustainability issue
The key economic element of poverty are growth, development and productivity. Growth
create job opportunities. Increase in the rate of employment will increase the growth. Wages for
less skilled people has been increased with the increase in the GDP worldwide. This is the
indicate for the increase in the livelihoods of the people below poverty line. Growth is just not to
decrease the poverty it also includes the development of the people. Growth and development
will be there if the government provide the public services to the people below poverty line
(Pearce and et.al.,2013). Increase in the country tax will increase the budget to spent on the
development of the people. Improvement will be in the health and education. Higher the income
level higher will be the growth.
3. Discuss the two ethical problems identified in part 5 drawing on relevant ethical theory
The two ethical problems are poverty as label and another is poverty as restriction of
opportunities. Many of the theorist believes that poverty is defined of play role in its perception.
Many people who do not develop according to the modern era or trend the people thing that they
are poor. Poverty absorbs the people and the people become the part of the poverty. Poverty
restricts the opportunities for the people. People with the skills who can change the world just
stop because of the lack of capital. The life of the people in poverty is unstable (Binswanger and
Landell-Mills, 2016).
4. Your chosen global sustainability issue presents both significant threats and opportunities for
business. Discuss these major threats and opportunities.
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Threats of poverty for business is the low level of income or no income for the
people below poverty line. The business need the consumer and consumer need the willingness
to spent but if the people are not having the higher income will not be willing to buy anything
which is not necessary for them (Conway and et.al., 2013). Whereas the opportunities of poverty
for a business can be that they can get the human resource as then and can employee them.
Organization will easily get the people to work for them at average wages. Organizations can
provide them employment and it can be the social role played by the organization.
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REFERENCES
Binswanger, H. P. and Landell-Mills, P., 2016. The World Bank's strategy for reducing poverty
and hunger: a report to the development community. Washington DC: World Bank.
Conway, and et.al., 2013. After the green revolution: sustainable agriculture for development.
Routledge.
Lloyd-Jones, T. and Rakodi, C., 2014. Urban livelihoods: A people-centred approach to
reducing poverty. Routledge.
Pearce, and et.al.,2013. Sustainable development: economics and environment in the Third
World. Routledge.
Shah, M. K., 2016. The myth of community: Gender issues in participatory development. ITGD
Publishing.
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