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The Impact Of Unethical Practices On Business Ethics, Reputation, And Long-Term Sustainability

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    The Impact of Unethical Practices on Business Ethics, Reputation, and Long - Term Sustainability A . Discuss the relationship between business ethics and its stakeholders (shareholders, customers, suppliers, management, employees, government, and trade unions). How can unethical business practices impact a company's reputation and long - term sustainability? Use examples from corporate scandals such as Enron, Worldcom, Nike, or Apple to support your arguments. Answer: In part 1 there is a relation given between business and stakeholder. Stakeholder in business comprises of shareholder , customer , supplier , management and employees of company , government and trade union bodies . For running a successful business there must be a good conduct of doing business in each phase keeping in mind the ehics of a business . lack of ehics can have an negative impact on business as we have seen scandals of big companies like enron in 2001 due to bankruptcy , worldcom , Tyco etc in 2002 etc . there are many others examples as we have seen in this article that is of America n corporations (Nike , Apple) lost its market due to slave wages to workers . Some organisations lost their reputation due to inferior products , or may be due to devoid of law of economic , politic , technological environment etc . Any blame for negative impact will be on the business not on suppliers or any other sub - domain . so a business must be sustainable in nature . B . Why is it important for businesses to monitor the ethical practices of their suppliers, even if those suppliers are not directly responsible for the business's operations? Discuss how unethical supplier practices (such as poor working conditions, low wages, child labor, and toxic manufacturing processes) can negatively impact a company’s reputation and long - term success. Use examples from companies like Nike, Apple, and General Motors to support your answer. Answer: While running a business one must be aware of its suppliers(how they are making the products) . If they are not legally or directly responsible for business but indirectly or ethically they are accountable . Nilke , Apple and General Motors and many other companies lost its sheen due to bad working conditions , low payment to wages , due to child labour , applying toxic elements to make products . Many companies agrees that to run a successful business , it must be aware of its manufacturing process and abide by its ethical values . C . How can unethical business practices, such as using harmful chemicals or exploiting poor working conditions, affect a company’s long - term success? Discuss why customer satisfaction and maintaining a positive reputation are crucial for sustained profitability, and explain how failing to adhere to ethical standards can damage a company’s brand. Answer: Nowadays to earn more profits many companies are using wrong ways for making the products . they are making it in horrible working conditions , using many harmful chemicals which are seriously causing harm to natural environment and obviously the customers who are consuming them . this type of business can earn profit for a short time only as customer feedback and satisfaction for the

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