Business Essay Example | Topics and Well Written Essays - 3000 words - 1

Business - Essay ExampleNeedless to add that the consequences of such actions on the part of the management were met with widespread criticism and public outcry, with the result that the companies lost their brand image and repute in the eyes of their consumers. Examples such as these, further tend to substantiate the above mentioned quote, and at the like condemnation, illustrate the significance and impact of ethics and righteousness in problem. The twenty first century is go steady to a rapidly transforming calling approach, which has popularized the concepts of triple bottom lines and corporate social responsibility, making green business an increasingly fashionable trend. The scope and extent of a companys contribution towards social and environmental causes, almost guarantees successful results, which is why, every other company, today proudly flaunts its commitment towards such causes, in its yearbook reports. In todays highly competitive world, coinciding with the emer gence of a knowledge society, the cognisance among the public regarding their rights and the availability of products has increased considerably. In such a scenario, any company which strives to maximise their winnings without giving back to the society or with a total disregard for business ethics, would become a soft target for a strong public backlash. It is thus imperative for the ball-shaped businesses to put the everyday global social and environmental interests ahead of their own selfish motives, and strive for the betterment of the society we bouncing in as soundly as the environment around us. The emergence of a new global information society driven by economies of cross-border trade, liberalization and globalization has led to the development of new business practices with a growing emphasis on the admition and application of innovative business approaches such as the assimilation of morality and ethics with profit and protection of shareholder interests both at th e same time (Nissanke and Thorbecke, 2005). This new philosophy or approach towards business has found greater public support and is creation increasingly incorporated by giant multi-national firms world-wide. It is widely believed that, the assimilation of ethics and morality as comfortably as corporate social responsibility by global businesses is a positive step towards mental synthesis a better, safer and healthier business environment where organizations are taking conscious decisions to protect and preserve the bigger interests of not only its consumers but also of the society at large (Brownlie et al. 1999). The significance of incorporating ethics and morality in mainstream business has been argued and debated over the years, with the result that issue has gained widespread support among researchers, management professionals as well as the general public. It is on account of such growing popularity of the practice that has made it inevitable, for global businesses to adop t such strategies and policies within their corporate agenda, and rethink their global business approaches (Sheth and Sisodia, 1999). Business ethics refers to the ethics of military force and deals with the manner in which companies acquire, enhance and implement it for the betterment of their own corporate agendas as well as of communities at large. The need for and significance of incorporating ethics in business is growing like never beforehand (Mahoney, 1997). Nature of business ethics within national and international context The term ethics