Sustainability and Ethics for Business Liability - MyAssignmenthelp

Question: Discuss about theSustainability and Ethics for Business Liability. Answer: Benefits of ethical leadership include reduction of business liability, helping workers make better decisions and assuring high-quality customer services. It also prevents costly errors and rework of administrative nature and grows the bottom line consistently. Qualities and skills of ethical leaders include the personality to defy group-think, selflessness, and ability to set good examples. Also, have open doors always, not afraid to be challenged and take responsibility of everything (Walumbwa, Hartnell and Misati 2017). Citizens and stakeholders express environmental values by rejecting companies that do not have better corporate social responsibilities and those that do not embrace sustainable practices. The trends across the country studies is that stakeholders and citizens are likely to associate with firms with better CSR and sustainable environmental practices and management. Economic status is essential in shaping environmental values since people with high economic status do not care for sustainability while those with low economic status care for sustainability and future generation. Values transcend class distinction and economic development in such instances as when people need sustainable practices. The environmental legislations for sustainability are those aimed at ensuring sustainability. For example, environmental protection and biodiversity conservation Act 199 (EPBC Act) avails a legal background for the protection as well as management of nationality besides globally important flora, fauna, alongside ecological societies alongside heritage locations clearly defined in this Act as matters of national environmental importance. The distinction between Green Marketing (GM) and Green Washing (GW); the GW is the misleading claims regarding the green, sustainable, eco, carbon neutral alongside planet welcoming status of the commodities or business whereas GM is authentic communication of the genuine sustainable commodities or business. Conflict management styles include; Accommodating-where one corporate to a higher gradation, at the expense of an individual, and work in contradiction of ones objectives, goals as well as anticipated upshots. Avoiding- where one simply avoid the issue. Collaborating- where one partners with other party for the achievement of both their goals hence win-win scenario. Competing- it is a win-lose method where one acts in an extreme self-confident manner to achieving goalmouths without cooperating with other stakeholders and at the expense of other stakeholder. Compromising- it is the lose-lose situation where neither stakeholder attains whatever they desire. Relationship between environmental and economic performance is that high environmental performance corresponds to low economic performance and reverse holds and represented by U-shaped curve. The positive outcome is that moderating the relationship will lead better living standards of the society and sustainability (Rivera, Muoz and Moneva 2017). Power differences and workplace politics is understand as the power/influence used by people at workplace to influence ascend to top of the company to achieve power. Such politics have negative influential behaviors linked with an individual attempting to accomplish goals of ascending to the top. Benefits of Ethics Auditing include identification of potential risks alongside liabilities and enhance legal compliance and remains key in enhancing organizational performance and enhanced relationships with stakeholders (Raiborn et al. 2017). Ten principles of United National Global Compact include: Business need to support and respect globally proclaimed rights of human Business must ensure that they are never complicit in abuses of human rights Business must uphold freedom of association and effective rights to collective bargaining recognition Business must eliminate each form of compelled and mandatory labor Business must effectively abolish child labor (Compact 2011). The business must eliminate discrimination with respect to occupation and employment Business must back precautionary environmental challenges approach Business must carry out initiatives that promote greater environmental responsibility Business must encourage environmentally approachable technologies development Business must fight corruption in every formula including bribery and extortion References Compact, U.G., 2011. The ten principles. ]: : URL: https://www. unglobal-compact. org/AboutTheGC/TheTen Principles/index. html. Raiborn, C., Butler, J.B., Martin, K. and Pizzini, M., 2017. The Internal Audit Function: A Prerequisite for Good Governance. Journal of Corporate Accounting Finance, 28(2), pp.10-21. Rivera, J.M., Muoz, M.J. and Moneva, J.M., 2017. Revisiting the Relationship Between Corporate Stakeholder Commitment and Social and Financial Performance. Sustainable Development. Walumbwa, F.O., Hartnell, C.A. and Misati, E., 2017. Does ethical leadership enhance group learning behavior? Examining the mediating influence of group ethical conduct, justice climate, and peer justice. Journal of Business Research, 72, pp.14-23.