Nobody downloaded yet

Ethics, Consumerism and Social Responsibility - Essay Example

Comments (1) Cite this document
Summary
The British petroleum company is expected to be socially responsible for the social welfare hence should come up with various recommendations for its social obligation to the public…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER94.1% of users find it useful
Ethics, Consumerism and Social Responsibility
Read TextPreview

Extract of sample "Ethics, Consumerism and Social Responsibility"

Download file to see previous pages British petroleum is the largest oil company in the world on the basis of market capitalization and proven reserves. It was established in 1908 with oil found in the rugged Persian Gulf after a long and difficult such. Since then, it has transformed from a local oil company to a global energy group, which focuses on various forms of energy. Their businesses include exploration of oil, production, refinery and marketing chemicals. It is the largest energy producing companies in the world that provide fuel for transportation and manufacturing. It extends its services to marketing of petroleum chemicals with a growing presence in gas and solar energy. Due to the nature of its major product, oil, the company is mostly linked to ethical issues such as environmental challenges on a global scale. However, in recent years, the British petroleum company has embarked on reviewing its ethical issues both to its employees and the public. This move is aimed at improving public confidence and profit maximization for the company.
Ethical business practice
This is the use of business policies properly in regard to controversial related issues like corporate governance, corporate social responsibility (CSR), bribery, insider training and discrimination (Terry 2011). It applies to all aspects of business conduct and is relevant to the conduct of a particular individual and the entire organization. The work of business ethics is to implicitly regulate areas and details of behavior that lie beyond government control. Therefore, business ethics ensures good moral business practices in the society hence creating conducive environment for competitors, consumers, suppliers, the government and all other stakeholders in the business. Ethical theories Business ethical theories and principles are the foundations of ethical analysis of the business because they are the viewpoints of the society to the business. Through this analysis, the guidance on the ethical performance of the business can be found. These theories include utilitarian approach, rights ethical approach, justice approach, the common good approach and the virtue approach (Leonard, 2011). Utilitarian approach This is the oldest business ethics theory propagated by philosophers like Jeremy, Bentham, James Mill and Mill’s son John Stuart Mill (John 2002). This approach focuses on using ethical actions that would promote values among the societies while limiting the amount of harm as possible. It therefore incorporates the maximum number of stakeholders for it to succeed. In the recent past, the British petroleum company has not been able to limit the amount of harm caused by the company’s operations. Accidents due to human error and mechanical failures have been blamed on various occasions. For example, explosions in Texas in 2005 that killed workers; also oil spill in Alaska in 2006, which over 250000 gallons of oil spilled through, ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Ethics, Consumerism and Social Responsibility Essay”, n.d.)
Retrieved from https://studentshare.org/business/1404076-ethics-consumerism-and-social-responsibility-in
(Ethics, Consumerism and Social Responsibility Essay)
https://studentshare.org/business/1404076-ethics-consumerism-and-social-responsibility-in.
“Ethics, Consumerism and Social Responsibility Essay”, n.d. https://studentshare.org/business/1404076-ethics-consumerism-and-social-responsibility-in.
  • Cited: 0 times
Comments (1)
Click to create a comment or rate a document
li
linwood82 added comment 10 months ago
Student rated this paper as
This paper saved me today. I liked the content. It was very useful for my business course.

CHECK THESE SAMPLES OF Ethics, Consumerism and Social Responsibility

Ethics and Corporate Social Responsibility

...? Ethics and Corporate Social Responsibility Since late 1970s, various organizations have addressed business ethics in different ways, as well as the development of codes of conduct, hiring of corporate responsibility managers and training programs of all kinds, introduction of compliant managers and programs, the preparation and dissemination of value statements, and the addition of board-level ethics committees. Studies conducted in 1960s indicated that European-based corporations were a head of their United State-based counterparts in implementing sustainability and corporate social responsibility...
10 Pages(2500 words)Essay

Business Ethics and Social Responsibility

...?Table of Contents Executive Summary………………………………………………………… 2 Introduction ……………………………………………………………….. 3 Body of paper ……………………………………………………………… 3-7 Conclusion………………………………………………………………….. 7 Work Cited Page…………………………………………………………….. 8 Executive Summary The restaurant industry is one of largest employers in the United States. The industry generates billions of dollars in sales each year. It is important for the players in this industry to consider the importance of ethics and social responsibility. Restaurants should apply ethics in their food delivery, pricing, and internal environment. The fast food industry is part of the restaurant industry. There are...
6 Pages(1500 words)Essay

Ethics and Social Responsibility

...? Ethics and Social Responsibility Ethics and Social Responsibility Introduction Starbucks Corporation is an international coffee house chain based in Seattle, Washington. It has been termed as the largest coffeehouse chain in the world operating in more than 55 countries. The products provided by the company, include coffee that is drip brewed, espresso based drinks, hot and cold drinks. Others on its menu include coffee beans, salad and sandwiches. The large population that forms part of consumers of products needs protection from any activities that might endanger their lives. The company also owes the duty of care to every single...
5 Pages(1250 words)Essay

Social Responsibility - Profit and Ethics

...?SOCIAL RESPONSIBILITY-PROFIT AND ETHICS al Affiliation) Businesses engaged in the service of society have oftenbeen often blamed for pursuing profit making at the expense of social responsibility. To this end, debate has always been centered on whether profit making are mutually compatible with ethical responsibility. Sentiments by economist such as Milton Friedman have attempted to assert that profitability is the core agenda for businesses (Friedman, 1970). However, contemporary businesses have the potential to engage in social responsibility and spur profit growth. Introduction The...
4 Pages(1000 words)Essay

Business Ethics & Social Responsibility

...? Business Ethics & Social Responsibility Lecturer Business Ethics & Social Responsibility Introduction Business ethics are moral standardsand guidelines that guide the conduct of business founded on the concept of what is right, fair and wrong. Majority of business people rely on their consciences for decision making and fall back on their own religious and moral backgrounds for guidance. Business people are on the other hand affected by their immediate colleagues and superiors when making decisions and at times feel pressured to behave in unethical manner when aiming to make profits (Boatright, 2008). Many firms have in...
8 Pages(2000 words)Research Paper

Ethics and Social Responsibility

...The introductory article of the twenty-eighth volume of the Academy of Management Review written by the editor is dedicated to the issue of business ethics and social responsibility and research provided in this area of knowledge. The issue has become of special significance since the scandals around Enron, followed by Tyco, Adelphia, Parmalat, Global Crossing, Qwest, WorldCom, Health South, Bristol Myers, Fannie Mae, Aig, though it had been aroused long before the scandal outburst. The fraudulence of many corporations changed the range of topics discussed by the practitioners. The insufficiency of research became evident long before 2003; the scandals only highlighted the neglect of the topic. The author of the article believes... ,...
3 Pages(750 words)Essay

ETHICS, CONSUMERISM AND SOCIAL RESPONSIBILITY

...Ethics, Consumerism and Social Responsibility Introduction Change is inevitable and things change when least expected. It is inescapable in the contemporary workplace. To stay efficient and competitive, organizations must constantly familiarize with their business processes to cope with the hasty changes required by the vibrant nature of the market or service environment. This also occurs in the most planned processes, where variations or surprising events occurs with roughly every instantiation. Thus, so that the gains of workflow managing system may be accessible to the overall organization, the aptitude to handle change has to be efficiently addressed. This can be...
10 Pages(2500 words)Essay

Ethics and Social Responsibility

... Section/# Nau – The Fastidiously Environmentally Conscious Retailer In terms of a business that strives to be ethical and responsible, it would be hard to imagine a better example than that of Nau. The firm has gone to great lengths to redesign its product offerings to be environmentally friendly; even going so far as to expend a great deal of money researching what specific textile threads have a lower impact on the environment while still providing cutting edge outdoor usage. In this way, Nau is far ahead of the competition in working to provide an environmentally conscious product in an ethical manner. Likewise, the store has also heavily invested in making itself energy friendly by drastically reducing floor space. Whereas... ...
2 Pages(500 words)Case Study

Social Consumerism

...Social Consumerism Consumerism Consumerism is a habit of people identifying themselves with a certaintype of products that they consume. Consumers take the products at higher rates than expected basically due to the influence of marketing and the need to identify one’s self with a certain brand of products. These products are used by the consumers to depict their status for example expensive car model. Most consumers tend to deny it and instead cite some specific reason for their choice rather than being associated with idea of consumerism (Kangun & Richardson 2011). Social consumerism is mainly associated with the...
6 Pages(1500 words)Essay

Ethics and Social Responsibility

...Ethical and Social Responsibility There are various organizational factors that need to be implored in a small business in order to establish properrelations between the customer and the employees. This paper focuses on the sole proprietorships with a focus on the Dunkin’ Donuts business. Dunkin Donuts is an American worldwide doughnut business and coffeehouse series built in Canton, Massachusetts. It was established in 1950 by William Rosenberg in Quincy, Massachusetts 1. Understanding the ethical decisions made is an important aspect in understanding the process of decision making. Within a business setting, the making of ethical decisions relies on...
2 Pages(500 words)Coursework
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic Ethics, Consumerism and Social Responsibility for FREE!

Contact Us