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Given the earlier two posts on ethical consumerism, let's now come to ethical business, or what is also termed as eco-business or 'business with a conscience'.
Associated concepts are social enterprises, CSR (Corporate Social Responsibility) and the Fairtrade scheme and movement.
In the face of rising ethical consumerism, businesses that wants more profits or attract more customers are under pressure to cater to the customers' wants, and hence go green....But if consumers are not ethical, all the more should businesses go green to educate and influence consumers to go green, either by giving them the option to do o, or even to the extent of denying them non-green options (also termed choice-editing). Think how certain supermarkets or hotel restaurants have chosen to take shark's fin off their menu. It's about their duty to the environment, as the long term fate of businesses (i.e. sustainability) is tied to the fate of Mother Nature as well....hence what is seen as altruistic is actually self-serving in a way, or a more conciliatory way to look at it is -- win-win situation.
Socially responsible businesses nowadays now aim for the 'Triple P' bottomline : Profits, People and Planet. Planet of coz refers to Mother Nature. As for People, it refers to consumers and producers/farmers/workers. This means that businesses try to ensure the well-being of consumes (no unhealthy stuff in the products) as well as those of workers (no exploitation, employ discriminated people like single parents, ex-convicts, handicapped, etc)
Qn: Should profits be the sole aim when it comes to doing business?
Given the earlier two posts on ethical consumerism, let's now come to ethical business, or what is also termed as eco-business or 'business with a conscience'.
Associated concepts are social enterprises, CSR (Corporate Social Responsibility) and the Fairtrade scheme and movement.
In the face of rising ethical consumerism, businesses that wants more profits or attract more customers are under pressure to cater to the customers' wants, and hence go green....But if consumers are not ethical, all the more should businesses go green to educate and influence consumers to go green, either by giving them the option to do o, or even to the extent of denying them non-green options (also termed choice-editing). Think how certain supermarkets or hotel restaurants have chosen to take shark's fin off their menu. It's about their duty to the environment, as the long term fate of businesses (i.e. sustainability) is tied to the fate of Mother Nature as well....hence what is seen as altruistic is actually self-serving in a way, or a more conciliatory way to look at it is -- win-win situation.
Socially responsible businesses nowadays now aim for the 'Triple P' bottomline : Profits, People and Planet. Planet of coz refers to Mother Nature. As for People, it refers to consumers and producers/farmers/workers. This means that businesses try to ensure the well-being of consumes (no unhealthy stuff in the products) as well as those of workers (no exploitation, employ discriminated people like single parents, ex-convicts, handicapped, etc)
Qn: Should profits be the sole aim when it comes to doing business?
posted by Dark Shadow | 12:53 PM
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