The compilation of these Social Responsibilities of Business and Business Ethics Notes makes students exam preparation simpler and organised.
Business Ethics and Environment Protection
Whenever your neighbours leave the town, they hand you the key to their house. Why is that? Is it because of security or in case of emergency? Yes. Is it because of their trust in you? Definitely. But what is stronger than trust and security? It’s ethics. They believe you are ethical. That you have the proper judgment between what is RIGHT and what is WRONG. Similarly, society trusts its keys to businesses. These keys are known as Business Ethics or Corporate Ethics and they involve environmental protection.
Business Ethics
Business is one of the most important entities in society. Its decisions and actions have the potential of creating a change in society, good and bad both. Therefore to not misuse the trust of society, businesses are bound by business ethics. It means fulfilling the commitments given, undertaking responsibility, not compromising in the quality, and ensuring reliability.
According to society, business exists to supply goods and services to people. And according to a business, they exist to earn a profit. Businesses are run by human beings whose decisions and actions can create changes in society or sometimes be not in accordance with society.
A firm might be excellent in economic conditions such it’s financial stability, increased profits, and good revenue but poor in terms of social performance such as not understanding the effect of its activities and supplying products at reasonable prices and quality.
A business is not an isolated entity like an island, a business enterprise is a part of the society and influenced by society and should adjust to the preferences and values of society. So the main purpose of business ethics is to draw a line between individual betterment and social betterment.
Role of Business in Environmental Protection
The environment is everything we depend on. Whether it be the trees that give us oxygen, the land we live upon, and the rivers that provide us with water. The environment is crucial for society and businesses together. We all have a responsibility to conserve and protect the environment. And whether it be governments, businesses, consumers, workers, or other members of society, each much contribute to stopping the environment from polluting further.
Governments must initiate programs to ban the use of hazardous products such as plastic carry bags. Consumers, workers, and society can support environmental protection by not using these hazardous products or other products that are not environmentally friendly.
Steps that can be Taken
Business enterprises should take lead in solving environmental issues. It is their responsibility to check the consequences of their actions and also to protect environmental resources. Some initiatives which can be taken by business enterprises for environmental protection are:
A sincere commitment by the top management of the business to cultivate, maintain and develop a work culture for environmental protection and pollution prevention.
To ensure that the commitment towards environmental protection is shared by all the employees of all the divisions of the business.
Developing clear-cut policies and programmes for purchasing good quality raw material, using the latest technology, using scientific techniques of disposal and waste management, and developing the skills of the employees for the purpose of pollution control.
To adapt to the laws and regulations passes by the government for the prevention of pollution.
Participation in government programmes relating to the management of hazardous substances, clearing up of polluted water bodies, plantation of trees, and reducing deforestation.
Assessment of pollution control programmes in terms of costs and benefits to increase the progress with respect to environmental protection.
Also, businesses can arrange workshops and give training material and share technical information and experience with suppliers and customers to get them involved in pollution control programmes.
Promoting green energy that reduces the use of fossil fuels.
Example:
Question:
Who all are responsible for environmental protection?
a. The Government
b. Businesses
c. Citizens
d. All of the above
Answer:
The correct answer is option “d”.
Environmental protection is not the responsibility of just one entity. It is a unified effort. The government must form rules and regulations and the citizens must abide by them. And businesses also play a huge part in environmental protection as it is also their social responsibility.