Question

“Ethical issues in business have become unprecedently complex over the past two(2)-decades. One of the reasons is that businesses feel increasingly compelled to engage in socially responsible activities – particularly those that benefit external stakeholders."

Required:

You answer should:

1. Explain whether you believe ethical issues in business have become increasingly complex over the past 2-decades, and one reason as to why this is/is not the case? (5 points)
2. With reference to either: arguments of social contract, less government regulation, or long-run profits, explain why you believe / do not believe that one of the reasons for this is that businesses feel increasingly compelled to engage in socially responsible activities. (5 points)
3. Provide an example with reference to a fictitious or non-fictitious business of an ethical issue in that business, and whether that business considered social responsibility in determining an outcome. (5 points)

Answer 1

ethres. Lack In the light of company scardas , businen industry hou "levelapul a muputitim ferih lanky ethics can lead to wralen foblemu and meputaliow problenu for burinen. As socral acesponsibility se one of the veriportant parts of business etheu, businen it not only reepornine for treating well its customers and employece but also for receping up 16 end of bargain with society at large. Somme og the businen responsibilities to cociety include cuininiking environmental impact, darating money to addy and recalling dangerous poduch. Problears with responsibility and burinens elles occur nehen a buriness has to weigh these responsibilities against ito responsibility to shareholders. corporation are egally responsible for looking after shareholders profits. At the same tince they socially responsible for minincising socially damaging business decisions. Ethical leaders face the challenge of making profit without forcing society! business cert that society Externality are pays for. Ethical business naders have to a social suporiboslity to avoid behaviour that resulbio a drain on cocietyi reesources. the shareholders may demand increased per formance from managers, thers creating a pressure on management to ut corners in ethies. To avrid euch situation, management acust speak openly neith shareholders Ierplaining in detail nehy ugal and ethical shortcuts have consequenca that outweigh value of short term profit. 1/1 =

maximisation. Howeres, prolileurs begin to rise when 20 situations where government does not requtare bursness ethics, it is the responsibility of the management to set thess own standards, corporate executives are expected to minimise como cost minimisation is a logical coronary of mapit companies start laying of Massive numbers of employees in an attempt to cut cesto quickly rapidly. This drives unemployment up and creates marire drain on social assistance programs. it is the responsibility of managers to keep these sort things in mind nehen making decisions. must be treated with respect, pay fall wages and have access to business benefits that improve upon their quality of life. One of the most important responsibilities to is to keep the employer challenged and catisfied as there are a primary methods for en couraging narration and productivity . -and it of The employees 2/2 =