Social responsibility and sustainable business practices essay

Education prepares children for life in the cultures into which they are born, giving them the tools and knowledge that they need to survive in their physical and social realities.

Social responsibility and sustainable business practices essay

Business ethics deals with the application of general ethical principles to the actions and decisions of businesses and the conduct of their personnel.

Core Concept 2 of 8 The school of ethical universalism holds that the most fundamental conceptions of right and wrong are universal and apply to members of all societies, all companies, and all businesspeople.


Core Concept 3 of 8 The school of ethical relativism holds that differing religious beliefs, customs, and behavioral norms across countries and cultures give rise to multiple sets of standards concerning what is ethically right or wrong. These differing standards mean that whether business-related actions are right or wrong depends on the prevailing local ethical standards.

Is it fair for IKEA to prescribe that its suppliers comply with global standards that are at variance with local market labor practices and conditions?

Social responsibility and sustainable business practices essay

What has IKEA done to help its suppliers overcome the problems that foster the use of child labor? Strategic Management Principle 2 of 9 Codes of conduct based on ethical relativism can be ethically problematic for multinational companies by creating a maze of conflicting ethical standards.

In instances involving universally applicable ethical norms like paying bribesthere can be no compromise on what is ethically permissible and what is not.

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A local custom is not ethical if it violates universal ethical norms. Application of codes of ethics should first follow universal standards with allowance for local ethical diversity and influence.

Within the boundaries of this social contract, local cultures or groups can specify what additional actions may or may not be ethically permissible. Is what we are proposing to do fully compliant with our code of ethics? Conflict or potential problem: Is this action in harmony with our core values?

Will our stakeholders, our competitors, the SEC under the Sarbanes-Oxley Act, or the news and social media view this action as ethically objectionable? Drivers of unethical business behavior Faulty internal oversight allows self-dealing in the pursuit of personal gain, wealth, and self-interest.

Short-termism pressures one to meet or beat short-term performance targets. A culture that puts profitability and business performance ahead of ethical behavior.

Core Concepts 5 of 8 Self-dealing occurs when managers take advantage of their position to further their own private interests rather than those of the firm. Short-termism is the tendency for managers to focus excessively on short-term performance objectives at the expense of longer-term strategic objectives.

It has negative implications for the likelihood of ethical lapses as well as company performance in the longer run. Why has Novo Nordisk been so successful in instilling a culture of ethical conduct in its organization when other firms have not?

The business case for ethical strategies An ethical strategy can be both good business and serve the self-interest of shareholders. Making amends for unethical business conduct is costly, and it takes years to rehabilitate a tarnished company reputation.

Consumer Services Australia Citigroup Inc. What place in business thinking should sustainability occupy in strategic planning that seeks to maximize profits?

What internal forces could mitigate against pursuing sustainability goals if benchmark indices are controlled by external parties? Core Concepts 8 of 8 Sustainable business practices are those that meet the needs of the present without compromising the ability to meet the needs of the future.

Strategic Management Principle 6 of 9 Both CSR strategies and environmental sustainability strategies provide valuable social benefits and fulfill customer needs in a superior fashion can lead to competitive advantage.

Strategic Management Principle 7 of 9 Every action a company takes can be interpreted as a statement of what it stands for. Strategic Management Principle 9 of 9 Socially responsible strategies that create value for customers and lower costs can improve company profits and shareholder value at the same time that they address other stakeholder interests.

The sources for ethical standards are: The use of underage labor The payment of bribes and kickbacks Relativism can result in multiple sets of standards The use of local morality to guide ethical behavior Return to slide Appendix 3 Consequences of Ethically Questionable Strategies Four examples of strategies failing the ethical litmus test are: Appendix 4 Drivers of Unethical Strategies and Business Behavior Faulty oversight and self dealing, pressure for short-term performance, and a weak or corrupt ethical environment are all examples of unethical strategies and business behaviors.

Return to slide Appendix 5 Figure 9. Appendix 6 Figure 9.

Social responsibility and sustainable business practices essay

Excelling on Three Measures of Company Performance A company is measured by three dimensions of performance: The goal is to achieve excellence in all three of these performance dimensions, represented by the circle in the middle of the diagram. The moral case, which focuses on stakeholder, not just shareholder, benefits The business case, which focuses on valuable competitive advantages gained from the CSR Return to slide Appendix 8 The Moral Case for CSR and Environmentally Sustainable Business Practices The implied social contract means a company will: Appendix 9 Combating the Evasion of CSR and Socially Harmful Business Practices Harmful and unethical business actions and behaviors can lead to increased public awareness of misdeeds of bad behavior by firms; increased legislation and regulation to correct and punish firms; and a refusal by others to do business with irresponsible firms.Oct 29,  · 5.

Essay on Social Responsibility Ethics: Ethics and Social Responsibility. Ethics and Social Responsibility University Of Phoenix ETH September 2, Ethics and Social Responsibility Social responsibility is an ethical theory, in which individuals are accountable for fulfilling their civic duty; the actions of an individual must benefit the whole of society.

Sustainable Value: How the World's Leading Companies Are Doing Well by Doing Good [Chris Laszlo] on *FREE* shipping on qualifying offers. In Sustainable Value, Chris Laszlo illustrates how the competitive strategies of some of the world's largest businesses are changing as their leaders begin to take on a number of the world's most important social.

The goal of this course is to provide students with core concepts used in direct social work practice with client systems. An ecological/systems perspective of person-in-environment is used to anchor generic concepts for a range of practice situations. Download file to see previous pages This essay stresses that intense competition plays a crucial role in creation of sustainable development practices and enhancement of the quality of products and services.

Corporate responsibility is regarded as the degree to which an organisation complies with the legal guidelines and looks after the welfare of the society. Contents of this volume: From the Director.

Main Article: "Education for Global Citizenship and Social Responsibility" by Julie Andrzejewski & John Alessio Reponse to Global Citizenship by Richard Brosio. strategy, corporate social responsibility, and environmental sustainability Corporate social responsibility (CSR) Is a firm’s duty to operate in an honorable manner, provide good working conditions for employees, encourage workforce diversity, be a good steward of the environment, and actively work to better the quality of life in the local.

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