Ethical Business

734 Words 3 Pages
Business ethics are fundamentals which lead business how to perform morally and also widely used in individual’s actions the same as business. When someone said ethical behaviors it generally means the business or company select the correct answer from distinguishing two contrary options. To be specified, they may consider about the effects might result on the environment and community if they doing such an action. Conversely, Unethical business refers to some actions that do not meet the standard for regular business operation and make the wrong decision for individuals and business. Sometimes it is illegally and be harmful to the whole society and business.
Especially there is a financial cost refers to the business activity performed as the third party which was equipment and labor or something else if business act ethically. The goal for Anglo American including 5 parts which was working without fatal accidents, eliminating occupational diseases, increasing diversity in the workplace, increasing the benefits of mining for local communities and increasing energy efficiency and these can be considered to ethics. By achieving these goals or bring benefits, Anglo American is going to gain some competitive advantages which means they can cost less than else and make customers buy their product more.
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It may arise with some financial cost and bring risks for some stakeholders and company should make strategies to cover these cost like get some competitive advantages and advised for government sponsor. Hopefully the advantages ethical business will bring to the society is much more than the disadvantage for itself which will considered in CBA which stands for Cost-Benefit Analysis. Anglo American can be a typical example to show how to perform in ethical way and it is widely used to let business understand learn how to do the same

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