Evaluate business conduct in the mining industry using three ethical principles of the
Global Business Standards Codex
Introduction
The main aim of any industry today is to pay attention to the multiple opportunities existing for improvements. The links of the mining industry to its primary resources multiplies with its functions whereas in other industries, there are layers of processes between the primary resources and the final product (McKay, 2009). As described by Carroll & Buchholtz (2014) currently, the ethics linked with sustainable extraction has been established around 2 key concepts corporate social responsibility (CSR) and transparency. Transparency initiatives focus on exposure of revenue transactions between the public and private sectors within the extractive industry projects. On the other hand, corporate responsibility focuses on enhancing the association between the communities and companies (Carroll & Buchholtz, 2014). The goal of making transparency efforts has triggered legislative activity and advocacy in the UK, U.S. and Canada which are the host markets for majority of the global mining shares. Companies are employing greater resources and staff for ensuring the benefits of mining development reaching the communities as improved education, infrastructure and services (Hsieh, 2006).
Ecological collapse, conflict and endemic poverty in various regions have their roots in unequal allocation of the resources. Thus, a win-win situation becomes an illusion and the chances of ethical standard violations enhances gradually. Having this argument in mind, this paper focuses exclusively on business conduct in the mining industry critically evaluates three ethical principles proposed by global b...
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...in mining industry.
Today we have the limited resources necessitating monopolization for making industrial mining a profitable business. Companies are employing greater resources and staff for ensuring the benefits of mining development reaching the communities as improved education, infrastructure and services (Reichert et.al, 2000). What is more important here is that companies must function in a fair and ethical manner while using labor resources and work with the international organizations, researchers and policymakers to enhance the employees convenience and fairness and thus lower the labor exploitation. Thus, the main objective of a global economy must be on development rather than on just pursuing economic growth and a set of justice must be incorporated which is strong enough in dealing with complicated issue exploitation of mining industry labors.
Large corporations such as Nike, Gap, and Reebok and many others from the United States have moved their factories to undeveloped nations; barely pay their employees enough to live on. Countries such as China, Indonesia, and Haiti have readily abundant cheap labor. There should be labor laws or an obligation of respecting workers to provide decent working conditions, fair wages, and safety standards.
Summary of Source Information: This article talks about the health conditions of many miners and diamond diggers that are affected due to substandard working conditions in sub-Saharan Africa. In these areas, where there are many unregulated mining locations, workers are prone to being exploited to hazardous working conditions. Children are especially vulnerable in these environments because they already suffer from poor health conditions due to lack of care and nutrition. Children have often been exploited in the diamond industry due to their ability to get into small spaces and dig out packs of dirt. Another health effect associated with diamond mining, in which this article talks about, is how diamond deposits have often mixed with vegetated areas, leaving it unsuitable for farming activities. Mining equipment leaves heavy minerals and chemical products that run into the rivers and contaminate vital sources of water for the mining community and people who live in these rural areas. Currently, diamond companies, as well as labor and health activists, are trying to do something to help improve health conditions of workers.
It is obvious that executives and managers at both British Petroleum and Transocean have changed the civil right statement “by any means necessary” to reflect their desire to make profits. The unethical behavior that has been engrained within both business cultures calls in the question the ethics of all powerful oil based companies. Leaders must be attentive and adhere to all safety and maintenance concerns. The damage and loss that was incurred could have been avoided if executives would have made more logical and ethically based decisions. Leaders should be able to recognize their psychological tendencies and correct them when making ethical decisions for their businesses. Through striving to make ethical decisions, organizations can set the tone for company morale and success.
Coal is considerably one of the most important sources of energy in nature and is one the most significant sources for power generation worldwide. The excavation and importance of coal became mainstream and apparent during the Industrial Revolution of the 19th and 20th centuries.
According to the Case Management Society of America, case management is "a collaborative process of assessment, planning, facilitation, care coordination, evaluation, and advocacy for options and services to meet an individual's and family's comprehensive health needs through communication and available resources to promote quality, cost effective outcomes" (Case Management Society of America [CMSA], 2010). As a method, case management has moved to the forefront of social work practice. The social work profession, along with other fields of study, recognizes the difficulty of locating and accessing comprehensive services to meet needs. Therefore, case managers work with these
An estimated 1 million diamond miners in Africa earn less than $1 a dollar a day (Brilliant Earth n.d.) Children as young as 8 forgo school for daily wages ranging between $0.15- $0.60 (The International Human Rights Clinic at Harvard Law School 2009). According to Adele Farquhar, a man fighting for legal ownership of a diamond mine, the problem isn’t people mining for precious diamonds, it’s those buying the diamonds originating in conflict areas; "People think it's a Zimbabwe problem but they forget that there is huge international complicity. You can't stop the Zimbabweans until you stop the money men. The people in Zimbabwe are getting next to nothing for these diamonds. The guy with the pick and shovel is literally earning $5. The guy to go and find is the one making $1,000. Go and look at the money and see who else is benefiting. That's why there's no momentum to stop this thing” (Cahill 2009). According to Time, the owner of the mines usually takes around 70% of the value when diamonds are sold to
In order to improve conditions within sweatshops, we must think about what the worker population wants. The conditions within these factories are brutal and abusive, as well as troubling. Not only that, but the entire industry must be open to transparent evaluation to others. It is when workers have a loud and clear voice in how their working conditions are that we can see the entire system as productive and fair.” Admitting there is a problem may be the first step to recovery. Hearing workers' voices, establishing criteria for comparing factories internationally, and verifying problems and corrections through the participation of local nongovernmental organizations and unions are key steps in a long road toward improving global working conditions.”
Business ethics simply can be defined as the application of business values in the business practice of a company (Seawell 2010, p. 2). For a multinational company, business ethics is one of the critical aspects need to be taken into account in business decision-making processes. Failure to give attention on ethics may bring consequences on company’s reputation (Meyer & Jebe 2010, p. 159). The company is expected not only to pursue its own profits but also contributing to the environmental and social welfare of the community where it operates (Svensson & Wood 2008, p. 308).
The term “ethical business” is seen, by many people, as an oxymoron. This is because a business’s main objective is to make as much money as possible. Making the most money possible, however, can often lead to unethical actions. Companies like Enron, WorldCom, and Satyam have been the posterchildren for how corporations’ greed lead to unethical practices. In recent times however, companies have been accused of being unethical based on, not how they manage their finances, but on how they treat the society that they operate in. People have started to realize that the damage companies have been doing to the world around them is more impactful and far worse than any financial fraud that these companies might be engaging in. Events like the BP oil
In business the primary focus is on maximizing returns to owners or shareholders. The manner in which a business conducts itself while attempting to make its profit can be considered ethical or not. For instance, a business that has a positive sense of social responsibility will make some effort to have a positive impact on society, contributing to the welfare of the community in which it operates in some way or another. Unethical practice in business could include the converse of this, where a business is solely concerned about its profit and does not attempt to mitigate the impact of its operations in that society. For example, a mining exploration company that does not attempt to ease discomfort and inconvenience of the people that are displaced by its operations could be considered unethical.
Lins, C., & Horwitz, E. (2007). Sustainability in the Mining Sector. Retrieved November 6, 2017, from http://www.fbds.org.br/IMG/pdf/doc-295.pdf
Kidder, R, M., (2010), Center for corporate Ethics, Institute for Global Ethics, retrieved on August 08,2010 from www.globalethics.org/ reserve reading from ethics news line
First of all globalization has led to exploitation of labor. We can’t ignore the fact that ethical aspects of international business deserve special attention. Corruption and engaging in illegal practice to make greater profit is a source of continuing controversy. Sometimes companies go international and move their production to foreign countries so they could employ workers for long hours, at low wages and in poor working conditions (sweat shops). They are also using child labor, the employment of children to a full time work that can be otherwise done by adults all that so they could get out of their responsibility towards their workers by avoiding paying them national insurance …When these multinational firms go abroad they forget all about principles and about human beings and their rights, according to Kent, J., Kinetz, E. & Whehrfritz, G. (2008/March24). Newsweek. Bottom of the barrel. “The dark side of globalization: a vast work force trapped in conditions that verge on slavery”, David, P. Falling of The Edge, Travels through the Dark Heart of Globalization..Nov 2008. (p62) also agrees with them when he explained his concerns about Chinese and Indians t...
In the business world there are many fundamental aspects and situations that can lead to several issues. In order to find an optimal and professional solution, business decision makers need to apply moral and ethical standards. And it is at that moment in which business ethics perform its role. Business ethics, which is in charge of examine how companies and individuals should act in business situations, is very essential in order to reach a common agreement and to work within the laws of business and solve an arisen dilemma. Working of the hand of ethical business companies, employees, investors, directors, and even individual officers can be beneficiated and obtain most favorable outcomes.
Warhurst, A. (1999). Mining and the environment: case studies from the Americas. Ottawa, ON, Canada: International Development Research Centre.