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Different Challenges to Different Organization - Research Paper Example

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This paper discusses different challenges to different organization. the paper focuses on the type of challenges the company faces are economical and financial crunches, environmental issues, social responsibility of a corporate or a Business Ethics. …
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Different Challenges to Different Organization
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Download file to see previous pages The Credit crunch means the economic return of the overall company curtails due to the number of factors. This could be because of the recession where the overall business activity slows down. This result in low purchasing power of the consumer and those companies which specialize in luxurious items faces major hit back. This results in low demand, low sales, and low profit and overall low earnings by the companies.
Due to global warming, many changes have been occurring slowly and gradually which affects adversely the company's position and stability. For those companies which are involved and specialized in tourism-based services especially on beach locations greatly affected by such crucial natural situations. Climate Change means the rapid increase in the temperature of the world which leads to other climatical factors. These factors are an increase in intense cyclones, air temperatures, and a rise in water level in the sea. These are the challenges faced by tourism countries.
Any company no matter what kind of business it deals with, are equally liable for some social responsibilities. It means that the company should meet some corporate regulations, international norms, and ethical standards. Business should promote the best interest of the public and should be for the growth of the community. It should be responsible for all those activities which have impacts on the environment, communities, employees, and consumers. The company should not be deliberately involved in illegal or harmful practices.
Business ethics means that the company follows ethical principles while engaged in business activities. It applies to the conduct of business as a whole and as an individual. It applies in all fields such as medical, technical, legal and others. In this 21 century, the demand for business ethics in process and actions is increasing. The new public initiatives and laws are introduced to bring improved business ethics followed by the business and avoid short term gains by acting in unethical ways.
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