Comparative Analysis on Business Ethics and Social Responsibility

Question: Describe the Comparative Analysis on Business Ethics and Social Responsibility? Answer: Introduction: As globalization grips each nation corporates, businesses have grown much more cautious regarding the different practices and responsibilities linked to each of the responsible parties. This has led to consumers being more cautious and demanding towards each of the stake holders contribution. This has led to consumers closely observing each businesses ethics and how the business or corporation handles its social responsibilities. Both are independent departments but at the same time they must work together so as to deliver the desired results to the consumer. To identify and evaluate these results its important to compare different organisation ethic approaches as well as their contribution to social responsibilities using specific criterion Business Ethics Business ethics involves the use of information and approaches which are considered good and acceptable to societies and individuals. Business ethics cover a wide number of areas ranging from responsible raw materials extraction to customer satisfaction. Each of these areas must be addressed in the correct manner if an organisation is to be classified to have or follow acceptable business ethics. Business Ethics follow a similar approach as normal Ethics but include several business oriented aspects which require proper addressing. Some important ethical aspects which must be observed by businesses include: Acceptable Raw Material Sourcing Raw materials are a basic necessity for every industry or product to be manufactured but the extraction and mining of certain raw materials has raised negative questions. This is because certain companies have over exploited the raw materials sources which have resulted in environment degradation. Its very important for the corporation and businesses to practice and implement sustainability programs which will help addressing the environmental degradation and over exploitation concerns. Manufacturing and Waste Management Product manufacturing has been identified to result in the production of considerable amounts of organic and synthetic wastes. Its important for the organisation to address this concern and help monitors and control waste production before, during and after the manufacturing process. This can be done is a verity of ways including recycling and use of biodegradable materials which will reduce the pressure on the environment during the biodegrading process. Its also important for the corporation and companies to promote the use of packaging materials which can be reused, this is also known as upcycling. Upcycling helps reduce the amount of waste leaving our homes and offices thus reducing the amount of waste being sent to landfills and incineration plants. Employee Social and Health Needs Another important aspect linked to business ethics is catering for employee needs. In the past companies considered employees as paid labour that can be replaced but today many companies acknowledge the importance of employees. Employees are the back bone of any companies of businesses operation and providing company employees with comfortable facilities improves there performance and ultimately productivity. This in turn results in the business or organisation making more profits. The increasing demand for professional employees has also resulted in employees having alternative employment option thus allowing them to select jobs which offer better employee facilities. This has also resulted in companies offering higher wages but studies show employees are more keep on the facilities offered by the employer as compared to the wages. Product/ Service Quality The modern consumer is also looking to buy only high quality products and services making this another ethical aspect consumers expect from manufacturers. Its important for the manufacturer to deliver high quality products or services so as to prove their commitment towards delivering quality to the consumer. As living expenses increase so does the demand for higher quality and more durable products and services which will reduce the requirement to constantly replace products over shorter periods. Social Responsibility Social responsibility involves an organisation, business or individuals contribution towards assisting the community or their contribution towards social cause. Once again social responsibilities can range widely and will usually depend on the implementer or organisations social responsibility choice. Some common examples social responsibilities include the following: Offering Free Health and Education and Skill Development Facilities Health and education remain a major public requirement in most communities across the globe but a large proportion of people are unable to afford the facilities due to lack of adequate financial; income. Businesses or corporation have therefore invested their own funds toward setting up and offering free or very affordable medical, educations and training facilities to the under privileged communities. This is mainly done in and around areas the company operates. And helps improve the communitys long term well-being. Offering Employment Opportunities to Local Communities Social responsibility also takes the form of offering employment to local communitys surrounding the business or corporation plants and factories. The number of employees selected from the local communities will depend on level of expertise required but in most situations training programs will be provided to help train locals on the required skills. Combining the education, training and employment opportunities plays a huge role towards promoting the organisation social responsibilities as they participate towards improving the communitys welfare and wellbeing. Social responsibility can also take the form of offering local communities with orders for certain product especially agricultural produce. This allows them to specialize on producing specific products for the company at agreed rates resulting in secure income sources. Contributing Towards Environmental Concerns As the global population increases so does the demand for products and services and this is leading to serious pressures on the environment. Waste production and pollution are affecting communitys health and resulting in serious environment degradation. While many companies and organisations are working to reduce their contribution towards pollution and waste production, its important to also contribute towards the clean-up efforts. Its important the organisations and businesses concentrate on every aspect linked to creating a cleaner environment. Most consumers are growing cautious and expect companies to follow environmentally ethical approaches during the manufacture and production of goods and services. Effects of the Comparative Analysis on Business Ethics and Social Responsibility As the number of manufacturing units and brands increase competition is also increasing but more importantly is that the consumer has more alternative option. With more options comes the ability for the consumer to set their demands which companies must meet of risk losing their customers to other competitor brands. This has made the consumer very powerful and today companies are considering the consumer needs before their own since the consumer is also constantly comparing the different brands. This has had many benefits such as the reduction of product and service prices but at the same time the biggest impact has been felt on business ethics and social responsibilities. Companies have had to cater to the consumer as well as the communities needs so to be accepted by the consumer with companies following unethical approaches loosing there reputation and business. Conclusion Business Ethics and social responsibilities must coordinate and work together as they depend on each other. Business ethics and social responsibilities affect each person linked to the production process beginning from raw material production to the sales person. Business ethics and social responsibility must take each person aspect in to consideration as this would help address organisations, public and consumer requirement so as to improve them. Its also critical that every company or business concentrate on business ethics and social responsibilities issues closely so as to ensure each members needs has bee is catered to. Failing to address consumer and social needs will definitely result in the company experience complications which will ultimately result in serious losses and failure thus making business ethics and social responsibilities a critical requirement for every business today.