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Business Ethics Persuasive Essay (Essay Sample)


Please see attachment for instructions. Write a persuasive essay in response to the theme: “It isn’t enough for a multinational corporation to be socially responsible; they must be a triple bottom line company to meet their ethical obligations”


“It isn’t enough for a multinational corporation to be socially responsible; they must be a triple bottom line company to meet their ethical obligations”
“It isn’t enough for a multinational corporation to be socially responsible; they must be a triple bottom line company to meet their ethical obligations”
Corporate social responsibility is about being a good citizen and having the duty to work for the social benefits of all citizens and the environment in which the firm operates. Citizenship is about obeying the fundamental laws set by the society. However, corporate societal responsibility, according to modern experts, means going beyond the laws. Corporate social responsibility implies that a business have not only a responsibility to generate profit but they also have a responsibility to the natural environment as well as the social reasonability to various stakeholders including customers, employees, supplier and the community among others. This is known as the triple bottom line approach where the company returns for the shareholders are aligned to good environmental and social practices (Bourne, Franco & Wilkes, 2003).
Corporate Social Responsibility
A responsible business begins with complying with the laws and acting me accordance with general societal, ethical principles. In many jurisdictions, business regulations impose an obligation on companies not only with respect to shareholders but also for environmental wellness that ensures that consumers and employees are protected. Therefore, companies should follow the laws set within this jurisdiction where it operates to be socially responsible .fairness; justice and honesty are some of the general principles found in all traditions around the world and business are expected to act in accordance with these principles (Eghbalyar, Shafei, & Salavati, 2004). Being a Triple Bottom Line Company
For a multinational corporation to be socially responsible, they must be a tipple bottom line company to meet their ethical obligation. Multinational Corporation needs to respond to the society changing expectations. One would ask what is that, which the society expects. Societies expect more from business than simply good profits. There is increasing demand for business to engage with wide more diverse groups of stakeholders. Importantly, having the willingness to listen, to understand and discuss social and community issues especially with people with different points of view. For survival and prosperity of business, they must become a triple bottom line company, meaning that apart from the economic performance, they must also consider social and environment performances
A bottom line approach measures not only profit but the organization impact on people and the environment. The triple bottom line is a way of measuring the company’s impact and its levels of sustainability at both local and global platform. The concept behind the triple bottom line is that companies become responsible mostly for all stakeholders, these means everyone involved within the company directly or indirectly (Pava, 2007).
New forces are altering the nature of the business, in particular, the increasing willingness of communities to form judgment and exercise choice. The spread of communication technology in the consumer market and increasing wealth. The changing roles of private versus public sector in the modern economy are some of the new features .The current world is so dynamic because people can easily withdraw their trust from a business and other institution unless the business demonstrate the faith that is acceptable. Involving stakeholders have implication on business; businesses must communicate and must be seen to communicate with stakeholders. Companies often take a defe...
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