MS311- BUSINESS ETHICS

BUSINESS ETHICS AND SUSTAINABILITY

ASSIGNMENT

SUBMITTED BY:
AWAIS SHAH
2020094
1. Sustainable business practice of an organization needs to be set within a framework
of business ethics. Discuss why should sustainability be introduced at organizational
level?

Embracing sustainability at organizational level has become a growing need, especially in today’s era of
globalization. It’s not only socially beneficial but creates long term value of the organization and fosters
its longevity. The expectations on corporate responsibility is growing day by day and the companies are
becoming more and more transparent, therefore, the need to act on sustainability is increasing.
However, sustainable business practices and business ethics are correlated more than we realize.

There are multiple reasons why organizations introduce sustainability; they might be highly committed
to sustainable business practices, therefore it is included in the mission statement by the organizational
leaders and they make it one of their objective and goal. This way they become bound to act upon
sustainable business practices. Another reason may be that the targeted market segment is highly pro-
sustainability so they seek it in order to compete with the competitors. Moreover, general public has
become more aware and show concern over this issue and demand evidence of more sustainable
business practice. So organizations adopt these practices under the peer pressure of the general public.
Lastly, it may be that organizations are required to follow sustainable business practices under the law,
so they have no option to neglect these practices.

2. Ethics and morality is interchangeably used by many authors/ethicists. Discuss the

distinction provided by Fisher and Lovell between ethics and morality and how it helps in
enhancing an understanding of sustainable practices?

Although ethics and morality is used interchangeably by many authors/ethicists, identifying and
understanding the distinction between these two is highly important to enhance an understanding of
sustainable practices, which ultimately leads towards gaining competitive advantage. Fisher and Lovell
relates ethics to be developmental and morality to be judgmental. This means that ethic is basically a
virtue that drive someone to take good action. Whereas, morality is basically personal rules or code of
conduct upon which actions that might harm someone are restricted. Fisher and Lovell defined ethics to
be the systematic study of moral principles and norms, and defined morality to be the actual behavior
and practices that are considered to be moral. If this distinction provided by fisher and lovell are
understood correctly, understanding of sustainable practices can be enhanced which will ultimately help
in examining principles and norms that underlie sustainable practices. Then, these principle and norms
can be applied in different contexts of businesses, such as, ethical principles like responsibility or
fairness can help us understand how to implement sustainable business practices with respect to these
ethical principles. On the other hand, morality can help us understand the actual practices and behavior
that are considered sustainable and then encouraging these practices and behavior through giving
rewards and incentives to the employees who adopt sustainable practices. Therefore, to help develop a
more comprehensive understanding of sustainability, it is important to consider ethics and morality and
the distinction provided by Fisher and Lovell.

3. Different companies have establish ethical programs to have a protection against

ethical misconduct. In your view, what should be the key ingredients of successful
ethical management in an organization?
In my view, the key ingredients of successful ethical management in an organization should be;

 A clear and well-defined code of ethics that sets out the organization's values and principles,
and provides guidance on ethical decision-making.
 A commitment to ethical behavior at all levels of the organization, starting with senior
leadership and extending to every employee.
 A process for reporting and addressing ethical misconduct, including mechanisms for
identifying potential ethical issues and addressing them in a timely and effective manner.
 Training and education programs that help employees understand the organization's code
of ethics and how to apply it in their day-to-day work.
 Regular monitoring and evaluation of the organization's ethical performance, to ensure that
the code of ethics is being followed and to identify areas for improvement.
 Recognition and reward for ethical behavior, to encourage employees to act ethically and to
demonstrate the organization's commitment to ethical values.

Overall, successful ethical management in an organization requires a clear code of ethics, a commitment
to ethical behavior, effective processes for addressing ethical misconduct, and a focus on training,
monitoring, and recognition. By implementing these key ingredients, organizations can create a culture
of ethics and ensure that ethical considerations are integrated into all aspects of their operations.