Business Ethics and GCE Assignment- 333333333_Final

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1 Business Ethics and GC&E Assignment MMMM - 3333333333 Centennial College Fundamentals of Business - 119002 Professor Shanker Seetharam February 18 th , 2024

2 1. Management, Stakeholders, and Ethics A. With reference to the stakeholders represented in that image, what ethical dilemmas does the Story of Stuff present? Discuss. In "The Story of Stuff," the production process is divided into five stages: Extraction, Production, Distribution, Consumption, and Disposal. Businesses' use of hazardous chemicals harms the environment and workers, while their pursuit of profit drives deforestation, contributing to ecosystem destruction and climate change. These businesses often establish factories in developing countries to exploit cheap labour and natural resources, leading to hazardous working conditions and low wages for workers. These actions highlight ethical violations and government failures in safeguarding citizens. Governments should prioritize their citizens' welfare over economic gains and enforce accountability measures on corporations. Moreover, the indiscriminate use of chemicals in manufacturing poses significant health risks to workers and consumers. Despite the appeal of low-priced products, the toll on human health and the environment is immeasurable. Profit takes precedence for business owners, neglecting the long-term impacts of their decisions. Economic growth should not compromise lives, a moral compromise that is unjustified in the name of progress. It's high time we realize that profit-driven motives shouldn't endanger human well-being and ecological preservation. We need to prioritize our values and bring the change we seek. Carroll's Pyramid encourages sustainability and aligns with our values. We can work towards a fairer and more sustainable future for everyone by promoting conscientious manufacturing methods and enforcing corporate responsibility for their societal effects. B. How does this apply to GC&E #4? Sustainable development and equitable distribution of global resources are emphasized throughout the text across personal, professional, and international issues. To stimulate development and positive economic shifts, the text emphasizes that recycling initiatives must be prioritized to reduce reliance on mining and extraction while minimizing non-recyclable consumption to boost global economic growth. To safeguard the planet's future, eco-friendly production and consumption practices must be followed by companies at all levels. Furthermore, the text highlights the alignment between the GC&E Learning Outcome #4 and ethical considerations in The Story of Stuff, stressing companies' need to adopt socially and environmentally responsible practices. By addressing global resource usage with fairness and sustainability in mind, individuals and organizations can work towards management strategies that align with the goals of GC&E #4. It advocates for increased awareness of resource depletion among companies and public education on environmental impacts while urging action to combat discrimination against employees and prioritize environmental benefits over financial gain. Such efforts and cautious resource utilization offer a pathway toward a more sustainable and equitable future for all.

3 2. Ethics in Practice A. First, discuss how the company you chose demonstrates social responsibility initiative at the local, national or global level, chose a specific initiative that they undertake, discuss stakeholders involved and how it relates to philanthropy & Carroll’s Pyramid (in your textbook). Patagonia is a socially responsible business highly regarded for its strong commitment to environmental sustainability. The company is a pioneer of the Common Threads Initiative, which aims to minimize its ecological footprint by promoting repair, reuse, recycling, and reinvention of its products. This initiative encourages responsible consumption and waste reduction by engaging customers, employees, and environmental organizations. Beyond traditional philanthropy, Patagonia integrates sustainable practices into its core business operations, aligning with Carroll's Pyramid. The company focuses on extending the lifespan of its products, promoting repairs, and encouraging reuse to reduce the need for new production and minimize waste. Patagonia's unwavering dedication to addressing social, ethical, legal, and economic responsibilities underscores its commitment to sustainability and aligns with the principles of Carroll's Pyramid. To reduce the need for new production and minimize waste, Patagonia promotes the extension of product lifespans, encourages repairs, and emphasizes reusing products. Patagonia's unwavering commitment to addressing social, ethical, legal, and economic responsibilities underscores its dedication to sustainability and aligns with the principles of Carroll's Pyramid. B. Next, discuss how the company you chose is one that will help you personally, with advancing your business skills via social responsibility initiative at the local, national or global level. In today's world, sustainability and social responsibility are crucial to any successful business. One way to enhance your understanding of these concepts is to choose a socially and environmentally responsible company like Patagonia. By analyzing Patagonia's business model and efforts, you can gain valuable insights into interacting with stakeholders, incorporating ethical considerations into business practices, and implementing sustainable practices. Being associated with a socially conscious business like Patagonia offers more than just knowledge. It provides networking opportunities and potential joint ventures that align with your values and professional goals. By supporting social responsibility programs, you can gain credibility and appeal to partners and employers who value moral corporate behaviour. So, make a wise choice and choose Patagonia - a company as dedicated to social responsibility as you are.

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4 3. Reflection on Ethics A. What you have learned regarding how to recognize ethical organizations, remember to connect this to GC&E #1 This assignment has been an eye-opener, helping me understand my role as a global citizen. It has highlighted the importance of ethical business practices, treating employees fairly, respecting the environment, and meeting the community's and customers' needs. By assessing organizations based on their impact on stakeholders and the environment, I can champion sustainability, accountability, and transparency per the principles of GC&E #1. Moreover, this assignment has instilled in me the confidence to advocate for businesses that positively impact society and the environment through their policies and actions. I am committed to upholding the law, fighting for equality, valuing diverse cultures, and prioritizing the well-being of all individuals when making decisions. By acting with integrity, honesty, and transparency in both personal and professional settings, I can identify and support ethical businesses based on their treatment of employees, social responsibility, honesty with customers, and commitment to their values. B. Conclude by discussing what your individual approach to ethics is, again, remember to connect this to GC&E #1; in your response, also include how the results of the changemaker quiz impact your ability to be a proactive global citizen as well. My approach to work ethics revolves around creating a positive work environment, inspiring colleagues, and making decisions that benefit everyone involved. Open communication is vital, and every individual's ideas should be heard, considered, and acted upon. The Changemaker Quiz has helped me gain valuable insights into various aspects and highlighted my communication strengths. As per the Story of Stuff Changemaker Quiz, I was identified as a Communicator, which aligns with my ability to narrate stories, share information, and bring people together for a brighter future. With my unique skills and approach, I am confident that I can contribute to the success and progress of any organization that values fairness, positivity, and open communication.

5 References Transparency International: https://www.transparency.org/en/ The Story of Stuff Project. (YouTube): https://www.youtube.com/watch?v=9GorqroigqM Changemaker Quiz: http://action.storyofstuff.org/survey/changemaker-quiz/ Patagonia’s Sustainability Commitment: https://sustaincase.com/patagonias-sustainability- commitment-creating-shared-value-for-the-environment-and-society/#:~:text=The %20company's%20dedication%20to%20sustainability,and%20society%20as%20a %20whole The 10 Most Socially Responsible Companies (2023): https://growensemble.com/socially- responsible-companies/

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