Question

The topic of Ethics continues to increase as an issue of central importance to strategic planning. Corporate Social Responsibility and Environmental Sustainability are significant topics that are figured into any substantive discussion of Ethics in contemporary business practices and strategy. In this forum, you need to investigate the topic of conscious capitalism, conscious business, or businesses with a conscience. Tell why the issue of conscientious business is significant; and, tell where this current theme is headed in a global application, if possible. Tell why this topic should be discussed in the context of strategic planning.

Please answer the above question with at least 250 words or more using APA in-text citations and reference format. Also I am a graduate student, so please answer the question using proper English, correct grammar, and punctuation. Thanks TLH

Answer 1

Conscious Business organizations can be defined as those business organizations who select a business strategy in which the concerns and advantages of both the human being and the external environment are given utmost significance. The root of this concept can be seen from the concept of corporate social responsibility or CSR. CSR is a value-oriented method in which a lot of value or significance is given o the social and environmental factors which can affect the local community and the entire world.

The concept of Conscious Business is important as in the current business environment there s a cutthroat competition among the different business organization in order to gain the maximum profit or to have the maximum piece of the pie in the form of increased market share. While trying to accomplish his objective, most of the business does not care about the concerns of the local community and they try to exploit the local natural resources for their own benefits and ignoring the negative effect on the local ecology and natural environment. Increased pollution, exploitation of the human resource, exploiting consumers, making any unfair agreement which can harm the society and so on are resulted from the globalization.

In order to become a more sensible entity of the community which gives a lot of concern to the benefit of all, it is important for the organization to adapt to the concept of Conscious Business. This concept becomes more significant due to increased globalization where a number of cases can be seen where MNCs just ignored the welfare of local people and exploit the natural resources for their own benefits.

While making business strategies the concept of Conscious Business must be incorporated as it will fulfill the ethical responsibility of the business i.e. to be accountable for the community and environment in which the business unit is operating.