Monday, September 23, 2019

Responsible Business Essay Example | Topics and Well Written Essays - 2000 words

Responsible Business - Essay Example Moreover, the discussion of this report will also evaluate the nature of ethical business and its importance as well as impact on business behaviour in society. In addition, the report intends to focus upon evaluating the role of government as an influencer or enabler in relation to practice business ethics within an organisation. The Aspects Constitutes Responsible Business ’Responsible Business’ can be stated as a perception where an organisation involves accountability in imposing significant impact in its different operational functions. It has been apparently observed that the organisations of different sizes employ as well as implement strategies with the intention of attaining their business objectives efficiently. In this similar context, an effective ethical consideration within the business environment assists the entrepreneurs to develop their business performances along with meeting the overall expectations of their stakeholders by a considerable level. A re sponsible business fundamentally aims to meet expected outcomes that generates from certain major programmes such as escalating awareness regarding any ethical issues, developing decision-making processes and lessening misconducts that prevail while performing different operational functions. Furthermore, a responsible business considerably focuses upon continuously developing the business performances by taking into concern its internal as well as external business environment. The organisations in the present day context are highly focused to conduct different environmental initiatives in order to improve their business performance that ultimately supports them to perform responsible business at large (International Trade Administration, n.d.). Business Ethics and Corporate Social Responsibility (CSR) In relation to identify the aspects that constitutes responsible business, it can be stated that the approach of ethical business and CSR are frequently implemented interchangeably. In this regard, the concept of ethical business constitutes code of moral standards and values that governs the behaviour of a person or group with regard to identify their different activities. Moreover, the perception of ethical business significantly emphasises upon balancing the business performances and the needs as well as the desires of the society where it performs its operational functions. It comprises certain moral guidelines along with principles that ensure to guide business operations as well as behavioural aspects of the organisational members in an efficient manner (Crane & Matten, 2004). In the context of CSR, it can be identified that the approach i.e. ethical business significantly involves different aspects of responsibility that include legal, economic, ethical as well as voluntary philanthropic activities both for the organisation and its operating societies. Contextually, it can be stated that the legal responsibilities of an ethical business are basically the laws and regulations that are followed while performing operational funct

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