Ethical behavior is important in all fields, from business to education. On the surface a lot of people may believe that ethics are simply not needed in these fields because they know what is right. Unfortunately many companies do not abide by ethical practices which leads to loss of trust and a backlash against them. By meeting shubhodeep prasanta das ethical standards companies can gain more respect, grow their brands and be seen as an example for other businesses. Here are five ways to begin a discussion on business ethics and social responsibility.
Making Ethical Decisions
As the world has become more complex, the ethical decisions that are made have become more difficult to make. With globalization, technology and the complexities of modern societies many company leaders struggle to make ethical decisions that are beneficial for their company. Consider the differences between business ethics and social responsibility.
Because issues are so complex leaders may struggle to come up with ethical solutions due to the persuasive issues at hand. One example is sweatshop labor, because it is cheap and easy for companies to take advantage of these workers it becomes harder for a business leader to come up with an ethical solution that benefits them both morally and economically.
A company’s reputation is important for both business and social reasons, consider the scandal that surrounded Enron and the damage it did to their reputation. This caused a domino effect that lead to many dissatisfied customers and employees, this may have been avoided if ethical standards were met in the first place.
Global Business Practices
Businesses need to consider the global impact of their decisions when thinking about ethical standards, due to globalization these standards have become much more complex for leaders of these organizations. Some companies choose to outsource manufacturing or labor to less developed countries in order to take advantage of their lower wages and unregulated working conditions. The negative impact that this has on the workers and the local economy is often overlooked by these business leaders.
Successful businesses require great teamwork, consider all the different departments that are required for a company to function. This includes human resources, managers, marketers, operations and many others.