Business Ethics in the Context of Globalization and Sustainability
Ethics play a crucial role in business operations, affecting practices, relationships with employees, customer satisfaction, profitability, decision-making, and community welfare. This article delves into the significance of business ethics and explores its implications in the globalized and sustainable business landscape.
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Libyan international medical University Faculty of business administration Business Ethics in the Context of Globalization and Sustainability Rudena bettamer 2886 Rudena_2886@limu.edu.ly
Table of Content : Introduction 1_ 2_ Describe the importance of business ethics Discuss business ethics in the context of globalization and sustainability 3_ 4_ Conclusion 5_ Reference 2
Objectives: 1_ Describe the importance of business ethics. 2_ Discuss business ethics in the context of globalization and sustainability. 3
Introduction: Ethics is a subject of social science that is related with moral principles and social values. 4
1_ Describe the Importance of Business Ethics: _Control of wrong practices in business: Business ethics directly affect the course of business right morals and correct principles are what help business success, unlike wrong morals such as fraud, black marketing and their violation leads to penalties for owners. _The relationship of the best employees : That employees at work are an essential and important to the success of the business,a good relationship with the people who work with complaints,giving promotions and maximizing profits for them. him begins with hearing 5
_Good customer satisfaction : The consumer is the king and he has the opinion in the market in the demand for the goods and its consumption depends on the consumer s satisfaction . _ Increased profitability : Business ethics improve productivity and profitability there are certain rules and controls that must be followed by every person in the company, including not wasting resources and using each resource efficiently . 6
_Make better decisions : Decision making depends on business ethics . Making the best and appropriate decision and the correct rules that follow the work in accordance with social values and ethics . _Protecting the community : The community is important to the success of any business in a successful company that takes into account the interests of our community and works developing infrastructure and the welfare of the community,and should not be based in any activity that causes problem to the community. 7
2_ Discuss Business Ethics in the Context of Globalization and Sustainability : - Global business ethics has both empirical and normative aspescts: 1- From an empirical point of view,it is the realization of ethical paths in the buying and selling of goods. 8
2- From a normative point of view, it has tow parts : First, A discussion of the normative role. Secondly, Given this role, ethical procedures must be followed regarding specific issues such as poverty, and corruption. The primary focus is on the normative part for two reasons: 1- Be clear before making judgments about what to do. 2- There are certain problems such as environmental pollution and there are conditions in which businesses operate which are necessary to understand the normative role . 9
- Business sustainability, also known as corporate sustainability, is the management and coordination of environmental, social and financial demands and concerns to ensure responsible, ethical and ongoing success. In a broader context, social environmental and economic demands are considered the three pillars of sustainability. Within the corporate world, they are sometimes referred to as the triple bottom line. The concept is a departure from the traditional concept of the bottom line, which evaluates all efforts in terms of their short-term effect on profits. 10
Conclusion: Ethics is the main focus that affects the successful functioning of the work directly in the relationship with employees, customer satisfaction, profitability increases, decision-making and the protection of society. 11
References - Bettamer, R. H. (2024, October 21). Journal list menu. Wiley Online Library. Retrieved October 21, 2021, from https://doi.org/10.1002/9781444367072.wbiee453. Journal list menu. Wiley Online Library. (n.d.). Retrieved October 21, 2021, from https://doi.org/10.1002/9781444367072.wbiee453. Bettamer , R. (2013, November 21). What is business sustainability? - definition from whatis.com. WhatIs.com. Retrieved October 21, 2021, from https://whatis.techtarget.com/definition/business- sustainability?amp=1. Bettamer, R. H. (2024, October 21). Journal list menu. Wiley Online Library. Retrieved October 21, 2021, from https://doi.org/10.1002/9781444367072.wbiee453. Journal list menu. Wiley Online Library. (n.d.). Retrieved October 21, 2021, from https://doi.org/10.1002/9781444367072.wbiee453. - 12
