BUSI1110 Fundamentals of Business

Introduction

Business ethics is simply termed as an appropriate business policy which are needed to be considered by business organisation while practicing their daily basis activity. It is necessary to understand that in any of the situation organisation must follow proper rules and regulations in order to accomplish their goals and target within specific time period. The chosen entity for the report is Dr. Bronner’s which was established in the year 1940. It is among the company that has been manufacturing the organic soaps, lotions, cleaners and many more.

In context of the file, there are different topics which will be covered in this report whereas first part will completely be related with management, stakeholders including ethics. Proper roles and responsibilities of stakeholder will be discussed in order to understand the topic in detail. On the other side, second part will emphasis on ethics in practice where it will be majorly focused that how company is fulfilling all of corporate responsibility at local, nation as well as in international platform. Even it will analyse about the benefit that can deliver at a personal level. At the end, there will be a reflection writing for understanding the topic in detail.

Management, Stakeholder and Ethics 

The Story of Stuff depicted the processing of stuff via a system. The operations of economy are defined that are inclusive of 5 procedures named as Extraction, Production, Distribution, Consumption, and Disposal. Throughout these procedures, some ethical dilemmas are identified in the Story of Stuff. These are discussed beneath.

The story presents the author mentioning that organisations are running out of natural resources for their manufacturing activities, which place impact upon the environment. While the organisation must have accountability for the protection of environment, an extensive number of natural resources need to be exploited for manufacturing activities (Walz, 2019). As per statistics, 80% of global forest is at the verge of being depleted. Besides this, there are several toxic chemistries that are utilised within the factory and are not tested in a careful manner. These toxic chemistries directly place impact upon the health state of people as manufacturers put those toxic chemistries into their offerings as a material of protection. This implies the non assurance regarding the qualification of materials for the production of system, environment, and health.

When toxic chemicals are moved into factory for the production of final offering, they tend to create effects upon the health of workers. In case poor workers are in requirement of a job, they tend to accept work that is concerned with dealing with toxic materials. Apart from this, the Story of Stuff also highlights the issues of the radio having a cost of $4.99. The organisation has built its factory in many of the poorer nations as this provides them with the chance of tapping advantage of cheap labour as well as abundance of natural resources in such nations (vom Brocke and Mendling, 2018). It implies their ability to carry out purchase of resources and payment to local workers at low wage rates. Post this; all products are brought back to their nations. This places a large-scale impact on the health of local workers as they get exposed to the toxics at workplace. Further, they are entitled to lower wage rates with no insurance from the company.

Consumers are also responsible for polluting the environment and not reusing things. As per the video, 99% of the Americans do not reuse products that they purchased in 6 months. It leads to an increment in the quantum of trash disposed within the environment. Recycling is considered as a small step taken for the protection of environment. Consumers should have awareness of causes of pollution and should concentrate on the application of environment friendly offerings in their day to day lives.

Owners are just concerned about the sales they make to customers. The pricing of products is set with the motive of maximising sales, yet they pay less to employees for saving their expenditure (The story of stuff, 2021).

Government also emphasizes upon growth of a nation. The increment of sales implies increment in GDP of the country. The Story of Stuff illustrates profits made by corporations, owner, government, and economy and presents these to be more important than health of employees and preservation of environment.

It is essential to understand from the given story that brining sustainability in the environment is the most important factor which needs to be considered. If an organisation will only try to make profit, then it will not possible for them to continue for the longer time period in current market place. So, it is necessary to maintain and protect the environment equally for attaining future goals. Considering the GCE#4, if a company will only utilise natural resource it will create problem for world and all of basis needs to not exist anymore. Looking at the current situation and requirement of nature, there are different types of strategy which is being prepared by business organisation under which they work for the purpose of developing products as well as protecting the environment. It will allow them to work in a specific manner and provides high standard to their rivalry firms as well to compete with them in existing market (Byrne, Lorusso and Xu, 2019). In addition to this, companies have been working for the purpose of enhancing the awareness of protecting the environment so that safety and sustainability can be maintained and process of supply chain can be continued for upcoming generation as well. At the same time, government is also working actively for the purpose of creating awareness about nature and the non-renewable products. It is one of those steps is allowing to bring positive changes within the society and commercial sector. In addition, it is essential for all of the international corporate sector to ensure that they are able to treat each of their employees equally as it is the only way through knowledge of every employees towards their work can be enhanced. Even it needs to be focused that local workers are also crucial for business firm and considering this, equal rights should be provided to them and for that government can introduce some of the laws and policies. It will allow to bring positive changes in the society.

Ethics In Practice

It is necessary to understand that ethical practices are among one of the crucial parts for any of the business organisation because it is the only way through which company can perform in appropriate manner. If in any of the situation organisation fails to perform in accordance to ethical manner then problem may arise for them in attaining their mission and vision. At the same time, it is equally important for any of the organisation to meet their corporate social responsibility under which they need to ensure that they are able to deliver some of the benefits to public at local, nation and international level (Sroka and Szántó, 2018). In context of Dr. Bronner’s, they are among one of the organisations which has been performing well in the market. The main motive of the organisation is to deliver the product which are eco-friendly in terms of environment. They mainly manufacture organic product which they even deliver at an international market. Company has been equally considering their social responsibility by delivering different services to national as well as international market.

In context of local market, the social responsibility which they are looking at is related with their employees where they provide different types of childcare benefits to them. They have been also paying higher salaries to each of their employees as compared to other organisation which certainly allows their employees to improve their living standard at a local level (Drugan, 2017).

In order to bring positive changes in national level with the help of social responsibility, they are only working in the area through which they can deliver sustainable products. At the same time, company is also working in the replantation process which is not allowing to create the situation of deforestation because of excess of organic product in their manufacturing process. All of this step allows them to represent themselves at a wider level by ensuring that they are not creating a problem for an ecosystem.

On the other side, it is also necessary for the organisation like Dr. Bronner’s to fulfil the corporate social responsibility in their international market too. Looking at the requirement, they have been working for the support of advocacy for social justice. In addition to this, they have been working for the protection of animal rights which is equally important in current scenario. Also, currently company is working in Germany for the purpose of maintaining the environmental sustainability which ensures that company fulfil each of their social responsibility in an effective manner (Dr. Bronner’s Announces All-One Germany Initiative To Support Advocacy For Social Justice, Animal Rights, And Environmental Sustainability In Germany, 2019).

It is essential to understand that whenever any of the organisation takes crucial decision, presence of stakeholders plays the crucial role because it is the only way through which desire outcomes can be attained. The stakeholders like employees are working harder to manufacture the maximum percentage of product in the market. It is because there will be higher chances to ensure that only organic products will be used by customer. As it will allow to bring positive changes in the environment. As management of the company is ensuring that they are working for the protection of animals as well as they will handle higher number of advocacies for the purpose of delivering social justice. It certainly reflects that organisation is currently working according to Carroll’s CSR pyramid which gives surety that company is economically, legally, ethically responsible. For Philanthropic responsibility Dr. Bronner’s is allowing their employees as well as local people to participate in the activity where they conducted some of the awareness program through which positive changes can be brought within the community (Ferrell and Ferrell, 2021).

The mission and the vision of Dr. Bronner’s have certainly brought changes in my mind regarding the development of social responsibility which each of the organisation shows their contribution. The company will help me at a personal level by introducing organic products which are result oriented for body and healthy for each of the other customers. This helps to ensure each of the customers that whenever they will purchase any of the product from the organisation like Dr. Bronner’s, their direct effort will be shown to protect environment (Kaynak and Iyer, 2021). The business skills which I have developed from the idea of Dr. Bronner’s is that whenever any of the entity introduces the idea which are favourable for society and nation then they business volume as well as goodwill increases automatically. In short, whenever an organisation tries to reduce the problem of society, their chances of attaining personal goal increases automatically.

Reflection On Ethics

It is necessary for each of the person to determine about the ethical organisation and how they perform in the market for attaining the goals. In my point of view, for becoming any of the organisation as ethical entity, they must fulfil three aspects and they are considering to the law and regulation along with meeting out their goals on specific time period. Secondly, activity participating in any of the social responsibility related work and the third one is to work in the passion where they can protect environment along with use of renewable source of energy. If in any of the circumstance’s organisation is not able to fulfil all of these criteria then it might create negative impact on society (Zhao, Zhang and Kwon, 2018). Any of the entity working in the manner where they are not able to create awareness regarding the environment then they are not working ethical because major motive of the company seems to generate profit only. Specially, organisation should provide ethical training to each of the employees as it will allow to create favourable working environment within the organisation. On the other side, entity must ensure that they are able to punish to each of their unethical act because it will able to force the people to work in an ethical manner.

In addition, it is equally important for the entity ensure that they are able to create transparency to their mission and vision as it will allow to understand each of the people about the motive that company is carrying with themselves. Along with it, loyalty towards nature and customer should be there among each of the customers. On the other side, ethics are crucial for each of the person in their person and professional life too. On personal level, individual must be able to follow each of the laws and regulation, setting the examples which forces other to do the same work in positive changes towards society (Camilleri, 2017). While discussing about, professional life, it is necessary the individual must ensure that they are loyal towards their work. Also, if any of the situation arises where rights are violated then appropriate action must be taken or else the matter should be discussed with their higher authorities.

All of these actions are for the purpose of better understand the importance of ethical values which are crucial in personal as well as professional life. Even organisation needs to ensure that they are able to work in the manner where they can bring positive changes in the society in upcoming time period.

After having a detail research on different topic related to ethics and its importance, it has been concluded that for me it is essential to consider each of the ethical guidelines. Being as a global citizen, it is necessary to make aware about the ethical to other people whenever we get some time or the real time situation occurs. Discussing in detail about the personal approach on ethical it is related with own behaviour and the way of presenting each of the things. It is because certainty of bring or changing the other’s mindset becomes quite an easy task. If in any of the situation people gets the chances to benefit the members of community, they must participate in it as favourable changes towards environment can be brought easily in it. Always the moral actions which are being taken by the people will allow to set the examples through which targets can be easily accomplished. Considering the approach of Dr. Bronner’s, they are working at an international level where they want to deliver the organic products along with being actively participants in social responsibility related work. It is simply setting the example to ensure that ethics is being considered in their each of the decision.

Being as a global citizen, it will be crucial for the person to consider ethical terms as it is among the major roles and responsibility. The personal and professional life, both plays the important role in ensuring that how active the person is towards his or her ethical values. If in any of the case, person is not able to consider his or her ethics towards their decision then it might have a negative impact towards society or community. While discussing about the changemaker quit, there were some of the questions which had a great impact upon me where I found that still there are many people who do not want to share their problem in order to resolve them in an effective manner. Secondly, there are number of situation where most of the people come ahead with problems but it is hardly seen from there side that they put any of the efforts to find out the solutions to resolve those issues (Carroll and Brown, 2018). Also, whenever a person sees a pothole in the road, they just ignore it, but it is their ethical responsibility to make other people aware about it with the help of signboard or inform the higher authorities in order to resolve the problem. But hardly it has been seen that people consider it as among the major problem of our society. The word Envision has a crucial role in bringing favourable changes towards the community because it will allow them to ensure about their vision which must be attained in specific time period.

Conclusion

From the above discussion, it has been concluded that fundamental of business states that business should be conducted in a fair manner where ethical values play the significant role in attaining the goals. It is crucial for the business to ensure that they are to consider the social responsibility as it is one of the ways through which changes within community can be brought easily. From companies’ point of view, their social responsibility should be towards three major market and they are local market, national along with international market for delivering qualitative results.

References:

Books & Journals

Byrne, J. P., Lorusso, M., & Xu, B. (2019). Oil prices, fundamentals and expectations. Energy Economics, 79, 59-75.

Camilleri, M. A. (2017). Corporate sustainability, social responsibility and environmental management. Cham, Switzerland: Springer International Publishing.

Carroll, A. B., & Brown, J. A. (2018). Corporate social responsibility: A review of current concepts, research, and issues. Corporate social responsibility.

Drugan, J. (2017). Ethics and social responsibility in practice: Interpreters and translators engaging with and beyond the professions. The Translator, 23(2), 126-142.

Ferrell, O. C., & Ferrell, L. (2021). New directions for marketing ethics and social responsibility research. Journal of Marketing Theory and Practice, 1-10.

Kaynak, E., & Iyer, G. R. (2021). Teaching International Business: Ethics and Corporate Social Responsibility. Routledge.

Sroka, W., & Szántó, R. (2018). Corporate social responsibility and business ethics in controversial sectors: Analysis of research results. Journal of Entrepreneurship, Management and Innovation, 14(3), 111-126.

vom Brocke, J., & Mendling, J. (2018). Frameworks for business process management: a taxonomy for business process management cases. In Business process management cases (pp. 1-17). Springer, Cham.

Walz, A. R. (2019). A Testbank Sprint for Fundamentals of Business.

Zhao, H., Zhang, F., & Kwon, J. (2018). Corporate social responsibility research in international business journals: An author co-citation analysis. International Business Review, 27(2), 389-400.

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