Business Ethics And Social Responsibility

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Recommended: The relation between business and society

Q.1.1.1
Social Responsibility- is a concept that originated in media revelations of malpractice by businesses and the resultant insistence of society on restricting such malpractice through regulations, as described by Introduction to Business Management 9th edition.

Investopedia defines Social Responsibility as an ethical framework and suggests that an entity has an obligation to act for the benefit of society at large. (www.investopedia.com/terms/s/socialresponsibility.asp)

Employment equity -is the notion that the composition of the workforce at all levels should reflect the composition of the community. It also aims at creating equal employment opportunities for all, explained by Introduction to Business Management 9th edition.

The
Mondi also tries to decrease the unemployment rate by providing job opportunities to the unemployed.

Environmental sustainability-Mondi is increasing long-term productivity, ecosystem value and resilience of rural landscapes. Mondi also protects high conservation value ecosystems including wetlands.

Social Responsibility- Mondi engages with communities in and around their plantation forests and mills. Their social investments help drive development by focusing on health, education and local enterprise.

Business ethics- Mondi is not that focussed on business ethics but it tries to engage with stakeholders and communities.

Consumerism- their purpose as Mondi is to create solutions for their customer’s success, delivering exceptional value in a sustainable way.

Q1.2
Mixed Economy (Mixed market
- It consists of both private companies and government entities (State Owned Enterprises).

The Idiosyncrasies of a mixed market economy are;
-The ownership of goods by the private and state owned entities.
-They own, control, make, sell and exchange goods in the country.

Q1.3.1
Entrepreneurship- Wikipedia briefly explains entrepreneurship as the process of designing, launching, and running a new business which begins as a micro enterprise.
It is also defined as the capacity and willingness to develop, organize and manage a business venture along with any of its risks in order to make a profit.

-Mondi employs around 25000 people across more than 30 countries.
- It encourages job creation and local economic development through the support of small businesses in surrounding communities.
- Mondi adds values through making available funding, business development support and market linkages.

Q1.3.2 The state of Entrepreneurship in South Africa
South Africa is trying its best to grow Entrepreneurship in many ways for example;
- I visited the website of an agency called the National Youth Development Agency (NYDA) which is www.nyda.co.za

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