Ethics and Social Responsibility in Business Practices

FUNDAMENTALS OF BUSINESS GCE Assignment 1 301322156 February 16, 2024 BUSN119 Paul Pinkus ANKITA LUITEL

To address the questions in your assignment, we can draw on the concepts discussed in your textbook, particularly from Chapter 4 on Ethics and Social Responsibility, as well as the additional materials and concepts you were instructed to review, like "The Story of Stuff" and the Changemaker Quiz. 1. Management, Stakeholders & Ethics a. The "Story of Stuff" draws attention to several moral conundrums pertaining to the heavy use of resources, the effects of production and consumption on the environment and people, and the viability of present-day economic methods. These conundrums force businesses to reevaluate their obligations to a range of stakeholders, such as owners, workers, suppliers, communities,

and the environment. Beyond financial gain and legal compliance, ethical considerations also consider the wellbeing of these stakeholders and the environment. b. The "Story of Stuff" is a call to action for businesses to adopt more equitable and sustainable practices in relation to GCE #4, which examines how the world's resources are used to ensure sustainability and equitable distribution. Carroll's Pyramid of CSR encourages businesses to take on legal, ethical, and philanthropic duties in addition to their economic ones. Businesses can show their commitment to social responsibility by implementing policies that guarantee resource sustainability, reduce their negative effects on the environment, and improve local and global communities’ quality of life. 2. Ethics in Practice For the "Ethics in Practice" , All birds provides an exemplary case of a company committed to GCE #6 through its extensive social responsibility initiatives. All birds' approach to sustainability and social responsibility is multifaceted, focusing on reducing carbon emissions, sustainable supply chain practices, and diversity and inclusion within its workforce.

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Social Responsibility Initiatives at All birds: 1. Carbon Neutrality: All birds have committed to becoming carbon neutral, addressing the significant carbon footprint associated with the footwear industry. The company aims to reduce its carbon emissions across its entire supply chain and has established a Science Based Target to reduce scopes 1, 2, and 3 emissions by 42% from a 2020 baseline year by 2030. This includes investing in carbon offset projects that protect forests, build renewable energy sources, and capture methane emissions, aiming for net-zero emissions by 2030. 2. Sustainable Supply Chain: For its Tier 1 (T1) suppliers, all birds has created an Environmental Policy & Program that outlines guidelines for minimizing environmental effects and provides safeguards for adherence. To achieve high compliance rates, this policy requires all T1 suppliers to reveal their environmental performance through the Higg Facility Environmental Module (FEM). All birds are also dedicated to enforcing new testing standards, upgrading its Restricted Substances List (RSL) program, and utilizing clean chemical methods throughout its supply chain. 3. Diversity and Inclusion: All birds are proactively striving to improve inclusivity and diversity throughout the company. The organization has established objectives to attain and preserve diversity concerning gender, color, ethnicity, and additional demographic variables. Every year, it provides an update on its accomplishments

that includes information on aims, representation, types of jobs, and pay. In addition, all birds are demonstrating their dedication to fostering an inclusive workplace by launching a Diversity, Equity, Inclusion & Belonging (DEIB) website and providing DEIB training for all staff members. All birds show how businesses may support social responsibility locally, nationally, and internationally by emphasizing these areas. Their efforts to promote diversity and inclusion, ensure sustainable practices in their supplier chain, and lower carbon emissions are indicative of a holistic approach to corporate social responsibility. This helps society and the environment, and because it addresses the legal, ethical, philanthropic, and economic aspects of corporate social responsibility, it also fits with Carroll's Pyramid of CSR. By highlighting the significance of incorporating sustainability and social responsibility into business operations, these programs can help you develop your business acumen. It demonstrates how sustainability and moral business conduct may spur creativity, enhance brand recognition, and support long-term commercial success. 3. Reflection on Ethics Organizations that uphold fairness, accountability, transparency, and integrity are considered ethical. The welfare of all parties involved—employees, clients, suppliers, communities, and the environment—is given top priority. These businesses are aware that morality drives their operations, choices, and strategies, and that following ethical standards is not merely required by law. By incorporating moral principles into their fundamental operations, these companies help create a more just and sustainable world.

As I consider my obligations as a global citizen, I see how critical it is to promote sustainability and moral behavior in both private and public spheres. This entails considering how my actions affect other people and the environment, making decisions that support morally driven companies, and supporting campaigns that encourage environmental stewardship and social responsibility. My dedication to ethical values has been strengthened by the insights I have learned from this assignment, especially on the significance of ethical behavior in business and its influence on global citizenship and equity. I am aware that I can affect change as an individual by the decisions and deeds I choose to do. I can help create a more just, equitable, and sustainable world by endorsing ethical organizations, pushing for sustainable practices, and living according to the values of global citizenship every day. The findings of the Changemaker Quiz emphasize even more how critical it is to recognize one's abilities and know how to use them to accomplish good deeds. Understanding how my special skills fit with moral standards and global citizenship projects gives me the confidence to take an active role in building a better future. My knowledge of the crucial role ethics plays in creating a more equitable and sustainable society has deepened because of my contemplation on ethics and its connections to global citizenship and equity outcomes. my understanding now informs my approach to both personal and professional pursuits. References  50 Socially Responsible https://attachments.convertkitcdnn2.com/174924/539cccfe-a239-4951-9755-

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48bc84fa7da7/Grow%20Ensemble_50%20Socially %20ResponsibleCompanies.pdf?utm_campaign=Landing%20Page%20or %20Form%20-%201763234&utm_medium=email&utm_source=convertkit  Fundamental of Business https://openlibrary.ecampusontario.ca/catalogue/item/?id=9d2935f5- c088-4207-a25f-a813dce8e5ae

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