Introduction
Ethics in business is important as it ensures that there is an acceptable level trust between the varied market participants in the society. The concept of ethics in business began in the 20th Century; specifically the 1960s. This occurred as a result of the rise in a consumer-based community that started to show alarm regarding the environment. There were cases of several individuals who took it upon themselves to introduce and fight for social causes and champion corporate responsibility. The theory of business ethics goes beyond just what is right or wrong; it is primarily concerned with the effort to merge what corporate structures should do legally verses having the ability to uphold a competitive advantage over other institutions.
Current Global Ethical Issues in Business
Despite the fact corporate social responsibility is now humdrum; this was not always the case. There have been immense cultural and ideological shifts that have led to this change. Most of the population of the world now expects all companies to act responsibility in addressing environmental and social issues both in the workplace and in the world. A huge chunk of these individuals would also go further and boycott any products from a company that does not abide by environmental and social policies that are important to them. Despite these prospective disadvantages, companies also strive to abide by certain ethical mannerisms to attract good employees who are both talented and hardworking and to limit any financial burdens that may be incurred to the company for not abiding to various laws and having environmental friendly permits. Some of these companies are involved in politics and therefore have some sway in how certain laws and policies are passed in the government. They employ lobbyist who champion for laws and regulations that will profit their company and hand over the negative costs to the consumer who is at the bottom of the food chain as a stakeholder. Large companies such as Wal-Mart and Merck have no political role in the community and yet are involved in policy making, This Corporate Political Activity (CPA) is not right and it damages any prospect of a citizen benefiting from launching of programs by huge multinational companies.
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There are some issues that are affecting the business community at the moment. They are listed below.
Environmental Policies and Protection
It is important for huge multinational companies to be involved in the protection of the environment. This is done by engaging in sustainable activities that do not damage the environment. Corporate institutions should find a balance between profits and adopting practices that are environment friendly. The main issues of concern are hazardous wastes, pollution, nuclear and chemical spills, deforestation and contribution to the fast approaching global warming extremes. These companies should find alternative methods of acquiring energy or dumping their wastes. There are some companies that strip the environment of their natural resources. Companies like British Petroleum (BP) have been notorious in prioritizing profits over the safety of the environment. The Gulf Oil spill was a big issue and was reported as the biggest oil spill in the history of the United States. Reports suggested that this company did not put up measures that were strong enough this oil spill. All companies must be held accountable for their actions through outright bans or imposing heavy penalties (Weiss, 2014) .
Action must be taken to ensure that the waste disposal is reduced or the company is given the responsibility to act in such a way that would negate the negative effects of their actions on the environment. Policies must be upheld and promoted by these companies. When the multinational companies work together with the government to further this cause then it is easier for the entire stakeholder to contribute to the general wellness of the society. Companies are urged to move to green energy. Most companies are not willing to adopt this mode of energy because it is too expensive and may hit their profits. Heavy penalties must be given to these offenders as this will force companies to abide by these rules. A blacklist can be put up will bar certain companies from being involved in trade in the world. These sanctions will help the world rid itself of huge selfish multinational companies that take advantage of the environment with no remorse like BP.
Underage Labor
There have been widespread cases of huge companies like Apple and Samsung who have been accused of using very young children as part of their labor force (Ferrel and Fraedrich, 2015) . Although this issue has been widely reported, these violations still exist and persist. These company headquarters are far removed from the actual site of manufacturing. These companies set up their manufacturing industries in countries that do not have strict labor laws. In some cases, these companies have enough money and clout to bribe the leaders and policy makers in these countries to allow them to set up these sweat shops that make their products at a very low cost. Cheap underage labor has been used to make shoes, mobile phones and all sorts of items that are used by children of the same age in the Western countries. Some of these companies apply willful ignorance where they assume that they are not aware of that situation and always have a public relations machine who deals with the public side of things. They only deal with these issues as they arise and never take any preventive and proactive measures to solve these issues.
It will be difficult to control and monitor this as the countries where the manufacturing goes on support this, but the companies must be made to commit privately to setting up strong policies against child labor. The government of the respective companies could help by giving tax breaks and helping with the high cost of labor. It would encourage the multinational companies to rely on their own to produce the phones. All countries should agree to trade treaties that will stop huge companies from taking advantage of developing countries. Theses treaties should include policies that require companies to have logs of all the employees that work for the industries and accept random checks at the site. This is done to ensure that there no sections of the company are not used to harbor children who work for little money or just found. In the cases where street children are used, the government of the respective country can set up a center that will help rehabilitate these children to stop them from being lured into slavery. Severe penalties must be given to any companies that breach this; and be barred from trading with the rest of the countries.
Privacy and Surveillance
With the advancement and rapid rise in technology, businesses and companies are finding it difficult to balance and control the urge to spy on their employees and prospective clients. These multinationals put in systems that require individuals to go through technological hoops in order to sign into their online office portals and blackboards. Their data and information is recorded and computer use is monitored. Some companies even ask employees to sign forms that would allow their employers to have the right to view remotely what they do at their workstations. This invasion of privacy makes it very easy for the employer to take a peek into the life of the employee. Some companies may even ask for emails and passwords so that you can sign up or subscribe to them. This violation of privacy is made legal by including statement that hand over liability to the employees and customers of that product.
Whatsapp messenger mobile application and Google have accused severally for violation privacy policies of their customers. They regularly take data and sell this data to other huge companies. This data is then used for market research and advertisement. It is wrong because they take all your information and private life and sell it to another company without express consent and hide behind the flawed law.
Some social networking websites like Facebook have been purported to be involved in various acts of breach of privacy and confidentiality. Although some employers are against the use of these social networking websites during office hours as they generally waste company time and resources. Disclosure of vital information of the company can be easily relayed using these websites and effectively be harmful. It is important for companies to set up strong policies that are of concern so that these websites can only be used for office objectives and not just for fun (Ferrel and Fraedrich, 2015) .
Proper systems and structures must be set up to protect the users of these technologies from giving away their private data. These tech companies must advised not ask for so much information for you to use them. If this method is abolished, users will key in less data and will not prey for these data miners. Once these are put in place, strict laws and penalties must be put in place to stop companies from mining data from unknowing users. Civic education of the dangers of using some social websites is also a healthy solution. Once the users refrain for using these websites for fear of being mined then this will force the hand of these websites to make their sites easier to use with less data required to log in.
It is important for these companies to be forthright in all that they do in relation to their employees and how they relate to all of the stakeholders in the society. These corporate structures should endeavor to be real and admit when they have gone wrong so that they will be able to move forward with everyone who is involved. This can only start from the top in order for it to be successful. The leaders in the company must always try to be truthful, have goof conduct, reach all company objectives and ooze the company culture that preaches hard work and integrity (Weiss, 2014) .
Individual Philosophy that has changed towards business practices
There are some individual philosophies that have changed throughout the years within the realm of business practices. In the past, most companies believed in utilitarianism which in short would mean that the end justifies the means. That is, the actions of the company; whether good or bad, is justified if the result benefits the stakeholders. This gave companies the leeway to do whatever they wanted with individuals and the environment and justify it with a working product even if the environment and individual have been greatly affected. They believe that the actions that lead to a result are just important as the result itself. Therefore, activities that will affect the environment are considered harmful. In current times, people and companies are more careful on how the treat these issues. Policies, rules and regulations have been put up affect how companies relate with stakeholders (Crane & Matten, 2016).
I did not consider the environment as an important part of the stakeholder but merely as a helper to what the world can turn out to be. During my recent reading I have come to understand the significance of a healthy environment on me. The whole community depends on it; and view on this has change by quite a bit. I have understood that Mother Nature plays a role in our health as a community and what we give is what we get in return. My previous philosophy on this has changed drastically.
Before, I had thought that child labor was fine, for just as long as the work was not very involving and the parents of the children were consenting in these activities. This has however changed in recent times as my view on this has changed in a huge way. Virtue ethics is also a theory that has cropped due to this change in the running of companies. It puts emphasis on the character of an individual with regards to ethical thinking. It does prioritize the rules and regulations (like deontology) or the consequences in the theory or consequentialism. Virtue ethics plays an important in the relationship between the working parts in an institution. Issues that come up are in child labor. My character has therefore gradually changed and so has my view on this issue as well. Children should not be allowed to have full time work. They should be allowed to reach an age at which they can consent on these matters by themselves, preferably at the age of eighteen. It has become increasingly evident to me that the plight of these often exploitedchildren has to be fought for in this era. Companies should not be allowed to take advantage of children who come from less fortunate backgrounds and use them for labor.
The main players are able to relate with each other in an amicable and respectful way. This culture helps to propel companies to attain higher profits and be able to attract investors and talented individuals for collaborations. This individual philosophy has spread throughout the business community during the 21st century and has brought about a new age of individuals who are willing to be truthful and just in the way that they work. This is appositive move as it sets precedent for the future workers who enter the workplace setting promoting hard work, truth and integrity (Shaw & Barry, 2015).
Conclusion
A good understanding of the ethical concerns of a company is vital in making it successful. Company leaders have tried to find a balance in solving the current complex ethical issues that are ailing companies today. These skills that are attained in the theory of ethics in business help in various facets of decision-making within a company. Management of a company is able to make choices based on the culture of the company. This is in terms of what they value as a company. A company that is environmental friendly will try to be a s green as possible so that they can save the environment, stay true to their culture and still be able to attract investors and a highly talented workforce. This transparency is always a plus when dealing with stakeholders as you become attractive as a forthright company. Individual philosophy towards business practices in the workforce has been changing over the years due to what the society deems important during this period. The actions and results of actions hold the same importance. Therefore, we are more inclined to support and work for a company that is careful about how their actions affect the rest of the community.
References
Crane, A., & Matten, D. (2016). Business ethics: Managing corporate citizenship and sustainability in the age of globalization . Oxford University Press.
Ferrell, O. C., & Fraedrich, J. (2015). Business ethics: Ethical decision making & cases . Nelson Education.
Shaw, W. H., & Barry, V. (2015). Moral issues in business . Cengage Learning.
Weiss, J. W. (2014). Business ethics: A stakeholder and issues management approach . Berrett-Koehler Publishers.
