Ethonomics
Ethonomics loosely refers to ethical economics. It involves incorporating ethics into economic decision making. The term, however, defines the rules that govern ethics in a market place. Ethics is the code of conduct in a business setting while economics dwells on rules that govern material commodities in the commercial sector. The discipline focuses on the mapping and definition of the prioritization of values that exist in value systems. This is done to comprehend disparities in different value systems, the individuals who own these systems and the decisions they arrive at on the basis of these value systems.
Organizations, who seek to be in harmony with the community, incorporate ethonomics in their practice. This is seen in how the company identifies and funds sustainability initiatives and carries out its social responsibility to its consumers. Sustainable initiatives are project within a firm that aims at phasing out environmental harm that results from the manufacture or consumption of a good (Hickman, 1998). Examples of sustainable initiatives include the refurbishment of used items for instance old computers may be tuned up and resold, and redrafting production procedures to cut on waste such as laser guided trimming machines to make designs.
Firms have adopted social responsibility as a component of their corporate citizenship and conscience. Social responsibility acts as a self regulation mechanism for a business which enables it to establish the social perception of the public towards them as a responsible entity (Hickman, 1998). A company aims at encouraging its action towards positively impacting the employee, community and consumer responsibly. Such activities include community development through putting up foundations to assist the public in learning or education, philanthropy by donating money that assists impoverished communities and social education and awareness. Practicing ethonomics goes a long way in ensuring continued growth of an organization.
Climate Change
Climate change refers to variations in the weather and environment over time. Climate variation patterns have been steady recently; this has generated curiosity among scientists as they seek to understand their causes and impacts on humans and nature. Climate changes are caused by a variety of factors such as changes in solar radiation, plate tectonics, and nature alterations induced by humans. Human-induced alterations of nature have led global warming, an occurrence with many negative impacts on the human population. Business entities, therefore, bear an obligation to control the climate variations caused by humans, through corporate social responsibility (Sullivan, 2008). Corporate social responsibility is the act by an organization to consider the impacts of its operations on their stakeholders and the environment. A corporation should control human-induced climate changes through several ways. These include encouraging the process of recycling, liaising with suppliers, and promoting the use of ‘green’ products.
The management of any business should emphasize adherence to the 3R concept; this is the rule of reduce, reuse, and recycle (Sullivan, 2008). Stores like Wal-Mart should encourage their customers to recycle plastic bags the store packages the products purchased. Careless disposal of plastic bags leads to environmental degradation, a human induced cause of climate change. They should employ reusable items such as plastic bags in their operations, in place of disposable ones.
A company should hearten its employees, suppliers and clients to lessen their environmental footprint. This is through educating them on the dangers of environmental pollution (Sullivan, 2008). The organization, for example, can encourage its employees to cycle to work, and seek suppliers who deliver a just enough amount of materials.
Green products are those whose effect on the environment and human health is little. These products are mostly manufactured using recycled components and introduced to the market with minimal packaging (Sullivan, 2008). An entity such as Wal-Mart should specialize in selling green products to control climate changes and promote corporate social responsibility.
Climate change is a condition whose burden should be shared to minimize the projected threats to human well-being. Individuals and organizations alike have a responsibility to reduce the recent persistent variations in climate. Businesses should embark on the reduce, reuse, and recycle concept to promote and preserve the environment; hence control climate change.
Wal-Mart Ethics and Corporate Citizenship
Wal-Mart is a company that sells all lines of products in the United States. The firm sells its products in twenty-six other countries. The firm aims at providing customers with high quality goods and it maintains warm relationship with the surrounding. Wal-Mart pursues the two objectives in local and international markets. The organization fulfils customers and community needs by meeting all the standards of corporate citizenship. Corporate citizenship refers to all the techniques that a firm uses to satisfy stakeholders who have an interest in the company (Errell, Fraedrich, & Ferrell, 2013). The company follows the rules of ethics to ensure that it maintains optimum corporate social responsibility.
The store takes care of customers by providing them with safe goods of high quality. Wal-Mart does this by ensuring that all its suppliers fulfill the following standards: health and safety, anti-corruption, environment, voluntary labor, compensation, and freedom of association among others (Errell, Fraedrich, & Ferrell, 2013). The institution obeys the rules of ethics by ensuring that its suppliers meet the above requirements. The standard of health and safety ensures that suppliers provide safe goods that are healthy for consumption. These standards also ensure that the firm maintains affectionate relationships with suppliers such that there are no conflicts between the firm and suppliers.
The business treats employees with respect, and it insures the health of all workers. Insuring of employees is an indication that the company aims at ensuring that all workers are healthy physically and mentally (May, 2013). This is because healthy workers serve customers better than they would do if they were unhealthy. The organization pays employees salaries that meet the requirements of state. The company pays workers on time, and it deducts no more than state taxes before compensating workers. The external auditors of the firm who ensure that directors perform all functions according to the rule of law confirm that Wal-Mart fulfils this standard. The organization meets labor laws that are set by the US congress.
The theory of utilitarian argues that companies should pursue objectives that maximize benefits. Shareholders of an organization also aim at maximizing benefits such as earnings per share. Wal-Mart optimizes the wealth of shareholders by re-investing retained earnings so that the funds can earn the company higher profits in the subsequent period. Managers of the store also satisfy shareholders by informing them about any project that the company wishes to implement. Directors of Wal-Mart conduct annual general meetings with owners of the store so that they can account for the returns gained every year.
Wal-Mart provides fair competition to its competitors by meeting all the regulations of a free market economy in the United States; the company charges prices that are in the range required by the state.
The company takes the responsibility of taking care of the society by conducting projects to serve the community. The directors of the organization provide relief food to poor people in US and other countries where the firm has established stores (Errell, Fraedrich, & Ferrell, 2013). The organization conducts volunteer programs whereby willing people donate food and clothing to street children.
Critics of the company argue that the organization does not meet labor laws because it compensates employees with low wages per hour (May, 2013). The average workers in the company earn eight dollars per hour. Critics argue that this hourly rate is unfair because employees work for more than eight hours in a day.
Wal-Mart a retail outlet in the US aims at being socially responsible to all stakeholders who have an interest in the company. The firm ensures that suppliers of products meet health requirements so that consumers may enjoy safe products. The organization competes fairly while it aims at meeting the expectations of shareholders. Critics of Wal-Mart argue that the institution fails to meet US labor laws by paying workers low hourly rates.
References
Errell, O. C., Fraedrich, J., & Ferrell, L. (2013). Business ethics: Ethical decision making and cases. Mason, OH: South-Western/Cengage Learning.
Hickman, G. R. (1998). Leading organizations: Perspectives for a new era. Thousand Oaks, Calif: Sage Publications.
May, S. (2013). Case studies in organizational communication: Ethical perspectives and practices. Los Angeles: SAGE Publications.
Sullivan, R. (2008). Corporate responses to climate change: Achieving emissions reductions through regulation, self-regulation and economic incentives. Sheffield, UK: Greenleaf Pub. Ltd.
