What is sustainability And can it be considered a new approach to transnational business ethics Discuss with the help of examples – Essay Example

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The book comprehensively enumerates on business ethics, from the point of view of globalization. Using some real instances as the basis, the authors argue that the modern-day business ethics do have sustainability as their integral feature. By highlighting things such as Middle East military companies and the UK’s sector of Islamic Finance, the authors stress that present-day business ethics are strongly linked with globalization. In fact, this book provides details of several key topics like water, climate change and social enterprise, to cite a few. Crane and Matten also speak about the necessity of being an ideal corporate citizen, as well as the pattern in which this can be achieved.

(2) The work “The Oxford Handbook of Corporate Social Responsibility”, which has been penned down by Andrew Crane, Abagail McWilliams, Dirk Matten, Jeremy Moon and Donald S. Siegel, includes several essays on the crucial topic of corporate social responsibility. These essays throw light on the fact that the definition of this term (corporate social responsibility) has undergone a drastic change, on account of globalization. Corporate organizations are now entailed to aptly address several social obligations.

Concepts such as sustainability, globalization and consumer activism, among others, have now become more important than ever. It is only by meticulously adhering to all these that the companies can fulfill their social responsibility. (3) Here, it won’t be out of place in adding some more points to the definition of sustainability. As a matter of fact, it has to be noted that, on a global basis, there are countless definitions of the concept of sustainable development, apart from the one that has been mentioned in the second section of this paper.

Ideally speaking, sustainable development, along with conforming to environmental norms, should also address the all-important aspects of economic growth and social justice. In fact, if it can be said that sustainable development is indeed taking place, it is imperative that people are being provided with good education. It needs to be understood that, the primary purpose of sustainable development can be fulfilled only when the development can be sustained for a substantial time span. (4) While speaking about corporate social responsibility, Palazzo and Scherer emphasize that in the era of globalization, it is indispensable that the term CSR (corporate social responsibility) is viewed from a broader perspective.

Here, it is but obvious that the aspect of sustainability focused upon in the preceding paragraph is an integral part of the term CSR.

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