Ethical: Business Ethics and Anglo American

Topics: Business ethics, Ethics, Corporate social responsibility Pages: 6 (1878 words) Published: June 8, 2012
1. What are business ethics? Give two examples of business practices that stakeholders would regard as ethical and two that might be considered unethical. Business ethics are the behaviours that any given business holds on to in its operations with either common or corporate world. In essence, the ethics may be dissimilar regarding the nature of the business activity one is engaged in. however, business ethics not only apply to how a business is engaged with the greater community but also how it relates with clients on one-on-one basis.The prose on business ethics is separated on its observations regarding the motivation and rationale for businesses activity to have a principled aspect. As Ulrich (2008) argued, there are two foremost opinions, to begin with individuals who advocate that businesses are income generating bodies and for that reason business ethics is yet an additional system to magnetize customers, secondly individuals who support shared conscience and inherent impetus for the espousal of business ethics. In essence, business ethics are typically utilized according to ethical concepts and judgements (Hartman 2004; Berle 1932). Hence, from such an observation, ethical issues range from practical approach, to loosely defined aspects which may include a corporation’s obligation to be responsible with its clients including such common and philosophical aspects as guarding employee’s rights as well as preserving the surrounding environment. Therefore, the scope of business ethics rests within the scope of examining the diverse issues or problems that may arise from the business environment as well as the way the workers, administration including the corporation itself can respond to them ethically. Some of the business practices which can be regarded as unethical may include, fraud, insider trading, as well as bribery and discrimination (Harwood 1996; Werhane 1997). Equally, such ethical aspects as, corporate social responsibility as well as fiduciary accountability, including corporate governance are viewed as some of the proper ethical practices within any given business activity. However, a number of dissimilar ethical conflicts are said to be developing from various interests being maintained by business proprietors and their employees, customers, including surrounding neighborhood. From such an observation, business administrators are required to balance the superlative alongside the practical—the need to generate a rational income for the businesses shareholders with frankness in trade practices. Despite the fact that, due to the universal changes, Ethical concerns in trade have turned out to be more complex as a result of the global and specialized nature of many large businesses and because of the involvedness of government restrictions and regulations that describe the confines of criminal conducts. For instance, corporations operating in nations where corruption, sexual aggravation, racial intolerance, and lack of apprehension for the environment are neither prohibited nor disreputable or unusual, must settle on whether to hold fast to steady ethical values or to fiddle with the local regulations to capitalize on profits . 2. The benefits of ethical business behaviour affect the business itself and the wider community. Taking an example of an Anglo American business project, identify the benefits to the local community and to the company’s shareholders. Transparency is one of the major elements that define whether business behaviour is executed within the perimeters of accepted ethical practice(s). From diverse approaches, proper business behaviours have been proved to be the key factors on which any given business activity progresses to a point of being trusted by its clients, whether within the domestic market or international arena. For instance, Anglo American has for over a period of six decades been involved in a number of assorted investments in Zimbabwe,...
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