Mining Case Study

1376 Words3 Pages

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.

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