Business Ethics Reflection Essay

Business Ethics Reflection Essay

Many corporations in this global economy have made efforts to systematically examine the existence of the significant and reliable relationship between a corporations' competitive advantage, and the implementation of a benefit- driven social responsiveness toward communities and stakeholders. Corporate responsiveness, in most cases, is the ability of corporations to respond to constant changing of the business environment, and the activities that are integral parts of a firm's operations, which gives executives the edge to capitalize on opportunities that will benefit the firm and the local communities as a whole.

In this new age of globalization, never has it become more eminent that, the economic interdependence of corporations around the world will now serve as a vital part of the socio-economic growth and the development of a strong and reliable business ethics that will promote a strong sense of community and a culture of corporate responsiveness. In today's global economy, the quest to maximize Profit to the fullest extent has created an environment where corporate irresponsibility has in some cases become the norm all in the name of capitalism.

Clearly, our Capitalistic system seems to be in trouble, and the accosting professionals who support capitalism are naturally troubled. As new set of rules seems to have crept into the system, the common assumption seems to be "Yeah, being highly ethical and moral in business is the right thing to do but it's naïve to think this is the way the world works. Sometimes you just have to do things to survive, playing hardball means you have to bend the rules… (Lennick, Kiel, 1)

Based on this assumption, any individual can see the problems that stand between moral business practices and the reality of implementing such ethical rules that has been put in place. All local and multinational corporations must realize that, collectively, they all form or are part of the global economy, and as leaders, policies that are set in each of these corporations must not only lead to the profitability of the company, but must also lead towards building a strong and reliable network which will transform into a shared initiative of global good. Thus, realizing efficiencies through sustainable activities that can create responsible managerial policies which will then transform the selfish and unethical conducts surrounding most business.

There is no doubt that some companies among the host are doing their share of conducting and implementing ethical business policies. The sad part