Ethics, Corporate Social Responsibility, and Sustainability

Ethics, Corporate Social Responsibility, and Sustainability

Summary

The selected video by Droll (2021) reviews ethics, corporate social responsibility, and sustainability. The speaker begins by stating that these three concepts are deeply connected when a company is focusing on entering or remaining in a foreign market. Corporate social responsibility and business ethics enhance organizational sustainability. Droll (2021) states that corporate stakeholders expect more from global leaders, thus putting them in situations where they are forced to make ethical decisions that can affect an organization’s well-being domestically and globally. He defines ethics as the acknowledged principles of right or wrong that dictate the actions, words, and thoughts of a profession, person, or organization. According to Droll (2021), what is considered ethical in one country may be regarded as unethical in another. Therefore, global leaders or managers must be sensitive to and recognize these differences without compromising the values of the organization. The prevalent ethical issues in international business include human rights, corruption, employment practices, and environmental regulations. Some countries have unwritten laws regarding specific employment practices. For instance, in some countries, women are not allowed to hold certain positions in the workplace, while in others, certain classes of individuals are discriminated against. The main challenge for global human resource management departments is how to ensure that every employee is fairly treated and protected equally, irrespective of where they are located.

According to Droll (2021), companies have a moral duty to maintain high environmental standards irrespective of where they operate so that they are viewed in the most positive life. Global organizations also have to observe practices prohibiting corruption, such as the Foreign Corrupt Practices Act in the United States, which covers many aspects of corruption. Droll (2021) states that the factors contributing to ethical behavior include decision-making processes, personal ethics, societal culture, unrealistic performance goals, and organizational culture. He says that corporate culture and corporate leadership are the key determinants of ethical behavior. Therefore, global leaders need to promote and hire people with strong personal ethics, develop and promote an organizational culture that values ethical behaviors, and use decision-making processes that create the need for people to consider the moral facet of business decisions. He also states that corporate social responsibility is the cornerstone of every business. Businesses should consider the social impacts of their economic activities when making business decisions.

Application

The leadership video is connected to the course content on sustainability. According to Robertson (2021), sustainability is an approach that considers the ecological, social, and economic dimensions to ensure that an organization’s needs and the needs of its stakeholders are met while protecting, sustaining, and enhancing the human and natural resources needed in the future. The leadership explains how global leaders can improve organizational sustainability through ethical business practices and corporate social responsibility. The video also explains the different facets of sustainability in the global environment, including an organization’s social, environmental, and economic responsibility. In addition, Purvis et al. (2018) argue that the three pillars of sustainability are the economy, society, and environment. Therefore, organizations need to create economic, environmental, and social sustainability. Environmental sustainability includes ensuring that the organization’s operations do not negatively impact the environment. Social sustainability includes observing universal human rights and the necessities of the people within the organization and the community around the organization.

According to Droll (2021), social sustainability can be achieved through employment practices that focus on ensuring that everyone is treated fairly. Economic sustainability includes maintaining financial independence and having access to resources. Organizations can achieve financial sustainability by establishing good relationships with customers and suppliers (Klitgaard, 2020). The video also demonstrates the role of global leaders in achieving organizational sustainability through ethical decision-making and hiring honest staff. It also reflects the need for global leaders to create a corporate culture that promotes ethical practice among employees. Global leaders also need to understand that ethical practices may differ from country to country, especially due to differences in values and beliefs. Therefore, cultural awareness is important in defining business practices aimed at achieving organizational sustainability.

Reflection

One of the lessons I have learned from the video is that corporate social responsibility and ethics create a foundation for sustainability. Organizations need to ensure that their practices are ethically acceptable and give back to the community through corporate social responsibility to build good relationships with stakeholders and the community. I have also learned that ethical practice may vary from one country to another, hence the need for global leaders to understand the acceptable ethical practices in the countries in which they are located. Global leaders also need to understand the laws that regulate ethical practice so that they can abide by them and maintain a good relationship with their stakeholders. I have also learned that organizational culture plays a vital role in defining a leader’s ethical practices. An individual may be honest, but if they are working for an organization that does not observe ethics, they may be unable to promote ethical practice. Therefore, global leaders need to cultivate an environment that promotes ethical practices by hiring employees with personal ethics and integrating ethics in all organizational operations, including decision-making. I have also learned that corporate social responsibility is important in creating and sustaining organizational sustainability.

References

Droll. (2021). Ethics, Corporate Social Responsibility and Sustainability [Video]. YouTube. https://youtu.be/ex0u-YL2wiQ

Klitgaard, K. (2020). Sustainability as an economic issue: A biophysical economic perspective. Sustainability, 12(1), 364. https://doi.org/10.3390/su12010364

Purvis, B., Mao, Y., & Robinson, D. (2018). Three pillars of sustainability: In Search of Conceptual Origins. Sustainability Science, 14(3), 681–695. https://doi.org/10.1007/s11625-018-0627-5

Robertson, M. (2021). What is sustainability? Sustainability Principles and Practice, 3–12. https://doi.org/10.4324/9780429346668-1

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Leadership Video Reflection Paper: Watch the assigned video listed for the module/ week. You select from one of the videos and write a minimum three-page reflection paper on one of the leadership videos chosen for the module/week. Paper format should include the following sections: (1) Cover Page; (2) Summary section of leadership video/ minimum 1 page; (3) Application section of how the leadership video connected to the course content/ minimum ½ page; and (4) Reflection section of what lesson you learned from the leadership video/minimum ½ page.

Ethics, Corporate Social Responsibility, and Sustainability

Leadership Video Reflection Paper (Sources): Reference Web Links and Videos
Web Links and Videos

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