Sustainability and Business Ethics

Different Aspects of Business Ethics

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Introduction to Sustainability and Ethics

Sustainability and business ethics are those aspects which are associated with the corporate sustainability of the business unit. This helps in the management and coordination of environmental, social, financial demands and concern to ensure the ethical success of the business. The sustainability for the business resist upon the three pillars that helps in the evaluating the efforts through which the shot terms profits are attained in an effective manner. The present report discusses about the strategic decision making with an ethical dimension. With the critical analysis of the respective aspects that are incorporated within the business. Along with this, nature of the global trends is discussed that affects the decisions making of the different personals. The role of the corporate sustainability and sustainable business model is being discussed in the present report. With the proper analysis of the conflict and its solutions the best resolution will be adopted. Lastly, unethical behavior is being analyzed to determine the better doing of the business.

Problem of strategic decision making with an ethical dimension

Strategic decision making is the process that is associated to create and run the business in creating a mission or vision which are associated with the business unit and set of the goals which the company need to achieve. The major problem which is associated with the designing of the corporate strategy on climate change. As the change is the essential aspect that is associated with the entire operation activity for bringing the modernization in the work practice so that the decision making is made in an appropriate form

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With the management of the operational efficiency the organization would be able to create the long term sustainable value with an ethical dimension. It is necessary to analyze the several aspects in a systematic form so that the organization is able to make the proper decisions which defines the goals and objective for the organization and help in managing it in an effectual form. Thus the ethical dimension is served in a proper form by considering the positive impact of the new opportunities that can be availed by the particular enterprise in relation to change that are occurring the buying behavior of the customers.

Benefits and drawbacks of using the Utilitarian to guide decision making

Beside this, there are several benefits and drawbacks of using the utilitarian to guide decision making that are stated below...

Benefits

  • This is the theory which is associated to maximize the utility which is associated with the best moral actions.
  • This helps in making the effective utilization of the several aspects that guide the organization to re-frame the decisions.

Drawbacks

  • Due to this, the employees may face adverse consequences that hinders the entire performance of the organizations.
  • The decision which are made through this theory are impractical and not commensurable across the people that are employed within the organization.

Critical evaluation of the modern business cannot be virtuous unless its core purpose are redesigned

With the modernization in the business, organization require the proper process so that the work is managed in an effectual form. Through this,the entire ethics are are being followed within the work structure that is defined in order to carry out the several operations.. it can be stated that modern business unit helps in redesigning the core purpose which is associated with the business through which the workforce is guided to manage the work in a systematic form.

With the ethical value determination, the modern business will attain the effective growth. Hence, this will help in managing the work in a significant form.

Critical evaluation of the bottom of the pyramid approach considering the case of micro-finance

It is the approach that is associated with the global terms over which the business operated. The pay which is offered is below the bottom line of the normal line. The people are able to develop the business in a deliberately form so that the demographic aspects are meet up in a significant form. Through this, the work is managed in an effectual way. As the micro finance is the aspect which is associated with the financial services which is provided in order to access the services. Along with, the particular organization is able to design the entire market in the form of specification which is required by the entire business unit. This helps in bringing the modernization in the work culture.

Challenges and opportunities of moving towards sustainable development

The market is influencing over a greater speed and require the proper evaluation so that they are able to perform as per the trends that are available within the market. It comprises of the business unit that operates within the set framework. This helps in the advancement of the business and brings the new opportunities for them. With the advancement of the global market trends, the decisions made by the policy maker and managers gets affected. This is due to the advancement in the present trends in the market place in which it operates. Likewise, it remains vital source through which the innovation can be brought up within the business working and its competitiveness will be enhanced in an effective form. As the organization roles are changing as per the trends that are prevailing in the particular sectors in which they operated. With the growth in the global market trends the productivity and trade practices get affected as policy maker and managers has to reform their decisions and restructure the specific drivers of the success. As the market is uncertain, policy maker and managers faces lots of challenges which are associated with the lots of opportunities for the firm. Beside this, the decisions are framed up in such form that the work is carried out in a systematic form. There are several challenges which are associated with work environment in which it operated in a systematic manner. The outcomes are deliberate and requires proper policies to implement them so that organization is able to move forward and avail the opportunities in a systematic manner.

  • Firstly, the world population is growing at a wider scale and requires sustainable growth so that the work can be managed in an effective form. With the enhancement of the potential of the population the work can be managed in systematic and significant form.
  • Secondly, the major challenge which is encountered before them is related with the increased demand and competition for the scarce resources that are energy,water, sand raw material and their prices. With the proper allocation of the resources the organization would be able to manage the change in a systematic form.

Hence, it can be evaluated that the work is managed in an effective form with the adaption of the way out through which the challenges associated with the sustainable development can be meet up. Thus, with the use of the effective resources, the policy makers and managers would be able to meet up the challenges and avail the opportunities in an effectual form.

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Roles of corporate sustainability and sustainable business models

In the business context, sustainability of the new startups depends up the policies which they adopt in order to drive the present economies of the country for fulfilling the requirements and needs in a systematic form. As the new startups operates with the adoption of the modern technology to manage the work in an effectual form. Through this, the work is carried out with the renewable energy sources through which the work can be carried out in a smooth form. New startups help in bringing the innovation in the economies through which the development can be made. This helps in bringing the modernization in the work culture. The new agenda related to the work will be adopted in an effective form through which the new start-up will be able to meet the challenges and drive the economy in accordance to the sustainable development of the particular country in which it operates. The introduce the use of the latest tolls and technology through which the work is carried out in an effectual form and sustainability is attained.

The corporate sustainability and the sustainable business models plays a significant role in driving the economies towards the sustainable development of the organization. Through this the organization would incorporates the principles of sustainability into each decision which are associated with the business. Beside this, this make them to provide the effectual resources and product so that they are able to replace the demands that are related to the product and services. The corporate sustainability and the sustainable business model helps in create the value for the customers, investors, and the environment. These models help in carry out the operations in a significant form with the proper obligations and reformation through which the work of these new start-ups is carried out and helps in attaining the sustainable development.

Characterizing the conflict between the personal payoff and social payoff and indicating the solution for it

There are many issues that result in the conflict the result in the personal payoff and social off so that the work is carried out in a smooth form. The conflict between the personal payoff and social payoff is related to the work that is associated in order to manage the work. Thus, it results in various conflict as the individuals are not paid as per the set standards and result into the poor performance of the employees. Personal payoff is the aspect that is associated with the strategies to implement and manage the entire operations in a significant form. This will help in managing the various operations so that the strategies are implemented in a proper form. The personal payoff comprises of the quantifiable aspect that defines the pay that is provided to employees to manage the operations in a systematic form. Social payoff dictates the ways through which the organization would be able to cater the customer by reaching them in a specific form. This will enable in developing the valuable relationship is created that helps in shaping the future of the business.

With the proper evaluation of the performance of the individual, the work will be managed in a significant from through which the organization would be able to analyze the potentiality of the employees by managing the work in a significant manner against the payoff that is provided to them. With the social payoff, they can discover several aspects that helps in catering the large number of customers. Through this, the conflict can be managed in a significant form with the proper allocation of the several resources.

Analyzing the unethical behavior and the choices to be made. Ways through which it can be avoided

Unethical behavior refers to those actions or activities which fall outside the acceptable standards of business operations. In the present business scenario,unethical behavior is common at workplace. Exploitation of the workers is one of the aspect which compel individual to adopt unethical practices at workplace. For instance: Standard timing hours in each organization is 9am to 6pm. In this, if organization compel their personnel to work for the longer hours at low cost then it is considered as unethical behavior. Moreover, when company does not offer any extra monetary reward to the personnel for their extra efforts then it compels them to behave unethically. In this, human resources of the firm do not perform their work with the high level of efforts

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In addition to this, they also started to make theft to fulfill their financial needs or requirements. This aspect clearly reflects that exploitation compel personnel to perform their work beyond the aspect that what is morally right or wrong. Unethical behavior places negative impact upon the growth and success of business organization. Thus, corporation needs to undertake effectual measures within the suitable time frame through which unethical behavior of the personnel can easily be avoided. Thus, manager of business unit requires to offer additional benefits to their personnel for the work which is performed by them after the standard timing hours. Through this, organization is able to encourage their employees to give their best efforts for the well-being of firm. Along with it, business organization also needs to organize activities which helps them in motivating the workforce. Through this, business entity can reduce the unethical practices to the large extent which are prevailed within the organization.

Business will do better if doing good discuss

“Business will do better if doing good.” This statement has been rightly said. The said words are here in the context of ethical business. To do well, is to perform ethical and right business activities. Every company is required to perform all its corporate social responsibilities in well manner. Doing business from ethical point of view, will keep a positive reputation of the company within the society. There are certain responsibilities which are to be fulfilled from the side of the company. These responsibilities are performed by remaining under the ethical framework. The ethical concern is to be shown towards different stakeholders who are as follows...

Customers

Company must assure that it is offering quality goods and services to its customers. Things like fraud and adulteration are not to be allowed.

Employees

Employees within the organization act as assets for the business. Company should have taught them how to maintain ethical environment (Tarafdar, Singh. and Anekal, 2013).

Government

Government keeps an eye on the practices of the firm. They want to be assured that firm has not indulged in any kind of unethical and black marketing practices.

Tax authorities

These bodies wants to make sure that firm is making timely payment of all the taxes. It affects the reputation of the business.

CONCLUSION

From the present report, it can be concluded that the effective implementation of the various decisions results into the sustainable development of the particular company. Through this, the change is brought up so that the need of the individual is developed in a systematic form. This helps in catering the large number of customers groups that plays a significant role in the overall sustainability of the business unit. Hence, it can be concluded that with the corporation of the effective strategy the work is carried out in an effectual and efficient form. This will help in enhancing the overall performance of the organization that adopt the innovation schemes to bring modernization that has good worth in the business environment.

REFERENCES

  • Ansari, S., Munir, K. and Gregg, T., 2012. Impact at the ‘bottom of the pyramid’: the role of social capital in capability development and community empowerment. Journal of Management Studies.
  • Benn, S., Dunphy, D. and Griffiths, A., 2014. Organizational change for corporate sustainability. Routledge.
  • Boons, F. and Lüdeke-Freund, F., 2013. Business models for sustainable innovation: state-of-the-art and steps towards a research agenda. Journal of Cleaner Production.
  • Coghlan, D. and Brannick, T., 2014. Doing action research in your own organization. Sage.
  • Davenport, T.H., 2013. Thinking for a living: how to get better performances and results from knowledge workers. Harvard Business Press.
  • Epstein, M.J. and Buhovac, A.R., 2014. Making sustainability work: Best practices in managing and measuring corporate social, environmental, and economic impacts. Berrett-Koehler Publishers.
  • Gibson, B., Hassan, S. and Tansey, J., 2013. Sustainability assessment: criteria and processes. Routledge.
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