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The Impact Of Unethical Practices On Business Ethics, Reputation, And Long-Term Sustainability

This Solved Assignment analyzes unethical practices in business. Get it today!

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The Impact of Unethical Practices on Business Ethics, Reputation, and Long-Term SustainabilityA.Discuss the relationship between business ethics and its stakeholders (shareholders, customers,suppliers, management, employees, government, and trade unions). How can unethical businesspractices impact a company's reputation and long-term sustainability? Use examples from corporatescandals such as Enron, Worldcom, Nike, or Apple to support your arguments.Answer:In part 1 there is a relation given between business andstakeholder. Stakeholderin businesscomprises ofshareholder,customer,supplier,management and employees of company,governmentand trade union bodies.For running a successful business there must be a good conduct of doingbusiness in each phase keeping inmind the ehics of a business.lack of ehics can have an negativeimpact on business as we have seen scandals of big companies like enron in 2001 due to bankruptcy,worldcom,Tyco etc in 2002 etc.there are many others examples as we have seen in this article that is ofAmerican corporations (Nike,Apple) lost its market due to slave wages to workers.Some organisationslost their reputation due to inferior products,or may be due to devoid of law of economic,politic,technological environment etc.Any blame for negative impact will be on the business not on suppliersor any other sub-domain.so a business must be sustainable in nature.B.Why is it important for businesses to monitor the ethical practices of their suppliers, even if thosesuppliers are not directly responsible for the business's operations? Discuss how unethical supplierpractices (such as poor working conditions, low wages, child labor, and toxic manufacturing processes)can negatively impact a company’s reputation and long-term success. Use examples from companies likeNike, Apple, and General Motors to support your answer.Answer:While running a business one must be aware of its suppliers(how they are making theproducts).If they are not legally or directly responsible for business but indirectly or ethically they areaccountable.Nilke,Apple and General Motors and many other companies lost its sheen due to badworking conditions,low payment to wages,due to child labour,applying toxic elements to makeproducts.Many companies agrees that to run a successful business,it must be aware of itsmanufacturing process and abide by its ethical values.C.How can unethical business practices, such as using harmful chemicals or exploiting poor workingconditions, affect a company’s long-term success? Discuss why customer satisfaction and maintaining apositive reputation are crucial for sustained profitability, and explain how failing to adhere to ethicalstandards can damage a company’s brand.Answer:Nowadays to earn more profits many companies are using wrong ways for making theproducts.they are making it in horrible working conditions,using many harmful chemicals which areseriously causing harm to natural environment and obviously the customers who are consuming them.this type of business can earn profit for a short time only as customer feedback and satisfaction for the

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