Being people, they face ethical challenges and sometimes flunk them. The ethical issues in business take different shapes than in schools or the home, even though they stem from the same impulses.
Public awareness of damage caused to the environment by human action has driven a demand for governmental regulations directly affecting the ability of businesses to conduct their operations. Corporate response to governmental regulation is a primary area of concern in environmental business ethics.
Human Choices Throughout history, human beings have made choices that have led to the destruction of forests, the contamination of water resources and the pollution of the atmosphere through the use of fossil fuel-powered vehicles. In the later part of the 20th century, awareness of the damage has led society to bring pressure to bear on government to enact regulations requiring businesses to protect delicate natural resources.
Environmental awareness has prompted many consumers to lead environmentally friendly lifestyles, affecting business realities across the globe.
Business Realities Acceptance of responsibility for environmental ethics is demonstrated through the development of corporate environmental strategy. An example is the environmental strategy of Marriott International: Sustainability Small businesses are exposed to increasing demand by consumers and governmental agencies to respond to sustainability standards.
Sustainability refers to the ability of ecosystems to remain healthy and productive over time. One of the simplest ways to make a positive response to sustainability issues is energy conservation.
Simply by using energy-efficient appliances and light bulbs, businesses can reap significant savings in energy costs and, at the same time, make a realistic contribution to reducing stress on the environment. Environmental Protection Agency research indicates that businesses can save 10 percent to 30 percent on energy costs when using energy-efficient equipment.
New Opportunities A positive side of environmental business ethics is the creation of new opportunities centered on repairing existing environmental damage and developing new technologies to enable peopl to conduct their business without further damage to the environment.
Environmental technologies will provide a path to profitability for small business for the foreseeable future.Ethics of various issues in business, including social responsibility, environmental protection, privacy, individual rights, occupational safety and health, product liability, equality of .
Business ethics deals with moral issues (beliefs, norms, values, etc.) found in the business. It should be noted that business ethics is a term with quite a multifaceted meaning. A variety of content, which is attributed to business ethics depends on the context of its occurrence.
Ethical Issues in International Business. But there is a limit to this argument because some governments are so repressive that investment cannot be justified on ethical grounds Environmental Pollution • • • • • When environmental regulations in host nations are far inferior to those in the home nation, ethical issues arise The /5(12).
Looking at all the ethical issues in business and finding the optimal solutions for them, by taking well-thought out and rational decisions based on all possible parameters will help everyone, the society, the consumer, the environment, and more importantly, even the business.
Business Ethics. Business ethics, also called corporate ethics, is a form of applied ethics or professional ethics that examines the ethical and moral principles and problems that arise in a business environment.
“Business ethics examines ethical principles and moral or ethical problems that arise in a business environment. It applies to all aspects of business conduct and is relevant to the conduct of individuals and business organizations as a whole” (“Business Ethics,” ).