Anglo American Company is one of the world's largest diversified mining and natural resource companies. It is a UK public limited company that operates globally. It has extensive operations in Africa where 76% of its employees live. Its main office is located in London since 1999 and has nearly 7000 people employed. As a primary producer, Anglo American plays an important role in the world economy by producing five main types of raw material.
Base Metals include copper, zinc and nickel. Copper is used in wires, cables, tubes and pipes. Ferrous Metal like iron ore which is used to make steel.
I. Business Ethics
These are set of moral principles and values that govern actions and decisions of individual or group. These actions apply to business as well. Acting in ethical way involves distinguishing between right and wrong and then making the right choice. This choice will determine the integrity, honor and dignity of the company itself. The golden rule: Act in a way that you would expect others to act toward you.
Core Values and Standards of Anglo American:
1. Corporate Social Responsibility
2. Good Citizenship or Code of Practice - these are drawn up in consultation with governments, employees, local communities and other stakeholders. 3. Universal Declaration of Human Rights
Business Practices that stakeholders would regard as ethical: 1. Fair treatment to its employees.
2. It should minimize any harm to the environment and work in ways that would not damage the communities.
Business Practices that stakeholders would regard as unethical: 1. Using of child labor
2. Sexual or racial discrimination
II. Benefits of Ethical Business Behavior
1. New villages have been built with better houses and infrastructure. 2. A wider land for farming.
3. Great potential to transform people lives
4. Alleviate poverty through generating economic growth.
5. To create more jobs
6. Through paying taxes, they...