Business Ethics
Business ethics are moral principles that govern the conducts and operations of firms. Additionally, ethics provides a code of conduct that guides suitable behaviour within an organisation. According to the case, business ethics is the observance of rules and regulations that have been put in place.
In most cases, ethics is identified with the responsibility of considering the needs of customers and addressing issues concerning adherence to laws governing business processes. For example, businesses have the responsibility of observing regulations put in place by various states to govern the business conduct.
Besides, businesses have the responsibility of producing goods and services that offer solution to the problems afflicting society. Essentially, ethics deter businesses from engaging in disreputable practices such as alteration of weights and measures, misleading advertisements and exploitation of workers.
Ethics provides a standard set of conduct that must be voluntarily adhered to by all businesses. In most cases, the code of conducts highlights standard behaviour for the welfare of society. In fact, codes of conduct contain moral principles under which the business operates.
Even though different countries formulate varying laws that govern businesses, certain universally conventional conducts guide the operations of businesses. For instance, most companies stick to the voluntary principles of security and universal human rights that protect employees against any labour violations in developing countries.
The interests of various social groups such as consumers, employees, small businesses, government and shareholders are protected by business ethics. In an attempt to understand the priorities and interests of external players in a business environment, it is ethical to engage all the stakeholders in decision-making process.
Therefore, business ethics provides a forum where such issues can be addressed professionally. For instance, in a situation where resettlement of a community is required to allow for mining of important minerals, the government, community and the employees need to be consulted.
Child labour as the most serious issue and the possible solution
Child labour is one of the serious ethical issues that businesses have to deal with in their daily activities. In fact, child labour has been declared illegal and unethical globally. Children should constantly participate in activities that enhance their personal development and good health.
ILO estimates that over 200 million children across the globe are ensnared in child labour with majority from developing countries. Essentially, child labour is the involvement of any kind of work that is harmful to a child’s physical and mental development. As such, child labour denies a child the right to have a normal growth and development as well as important aspect in life such as education.
Even though stringent laws and regulations have been applied to reduce child labour, the violations of such laws are in the rise particularly by multinational corporations that operate in developing countries. As such, the stanndardised regulatory framework should be put in place and enhanced in order to reduce chances of children being involved in the work processes.
In fact, the laws and regulations should not only target large corporations but also small and medium enterprises that depend on children services. In addition, emphasis on the importance of the fundamental rights of children through increased awareness is critical in the reduction of incidences leading to child labour.
Education plays vital role in eliminating child labour not only through increased awareness but also through the production of skilled labour force in the market. Therefore, various organisations should focus on policies that emphasise universal education for all children irrespective of their status in society.