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

Business Ethics - Essay Example Business does not exist independent of the society, and consequently politics. The participation and involvement of the businesses in the corrupt practices and policies of the governments has also been to some extent responsible for the developments which led to the ongoing protest movements that are challenging governments in the Middle-East. The emerging concept of Corporate Social Responsibility (CSR) calls for positive interactions on the part of the corporate entities with the communities in view of the fact that the companies are part of the communities and in turn the community is one of the stakeholders of the companies. Nasr, S. (2006) points out that if implementing corporate governance standards in joint venture companies has proven to be difficult, trying to apply them to family businesses is an even more difficult task. This is because such businesses are more about family than they are about business. The economy of the Middle East countries is dominated mostly by the f amily businesses. However, the broad picture emerging in a society is required to be well understood both by the family and professional entities for a sustainable development in the long run. ... e towards the environmental responsibility of the mankind, this aptly reflects the limits in terms of exploitation whether socially, economically or politically by the various vested interest groups. Blowfield, M & Murray, A. (2008, p.24) state â€Å"There are various ways of categorizing the main issues that fall under the corporate responsibility†. He has listed out Business ethics, Legal compliance, Philanthropy and community investment, Environmental management, Sustainability, Animal rights, Human rights, Worker rights and welfare, Market relations, Corruption and Corporate governance as prominent areas of corporate responsibility activity today. The agriculture and business are the cornerstones for development of the communities or societies in the world. The industrial development over the period of time has played an important role in the economic development of the countries relegating agriculture to the secondary place. Blowfield and Murray have placed business ethic s in the forefront as its corporate responsibility, and the influence of the business enterprises in the society and politics has been growing phenomenally over the period of time. The importance of business in the scheme of things has been further stressed by the phrase ‘Corruption and Corporate governance’ implying that corruption and corporate governance is closely interlinked. When we say corruption in the corporate companies, logically it is implied that the business influences ‘politics’ negatively by way of corruption to further their corporate interests. The business enterprises in the Middle East countries acting as a conduit for the movement of monies out of the countries to the safe havens have facilitated corruption in these countries perpetrated by the political forces.