Sustainability and Transational Business Ethics Essay

Sustainability and Transational Business Ethics - Essay Example As a matter of fact, it is as a direct result of global concern over enhanced pollution that this term is becoming more and more relevant. (1) In fact, it was the US and the UK, with their norms of environmentalism, who were the pioneers, with regard to adherence to principles of sustainable development. This term (sustainable development) emphatically states that issues of environment are a highly important part of all cultural, social and economic interactions. The all-important aspect of sustainable development maintains that, manner of production and consumption needs to be modified. This is to make sure that environmental norms are not compromised upon. Likewise, it is equally essential that there is a change in the pattern of all cultural, social and economic relationships, lest the requirements of sustainable development are unmet. ... (1) Globalization and sustainability – Review of Literature and Other Studies It would now very much be appropriate to be succinctly reviewing some literature and researches, which emphasize on the fact that sustainability is indeed a vital element in the contemporary business ethics. In the book â€Å"Business Ethics: Managing Corporate Citizenship and Sustainability in the age of Globalization† the authors Andrew Crane and Dirk Matten elaborate on the vital aspects of sustainability, corporate citizenship and globalization. The book comprehensively enumerates on business ethics, from the point of view of globalization. Using some real instances as the basis, the authors argue that the modern-day business ethics do have sustainability as their integral feature. By highlighting things such as Middle East military companies and the UK’s sector of Islamic Finance, the authors stress that present-day business ethics are strongly linked with globalization. In fact, t his book provides details of several key topics like water, climate change and social enterprise, to cite a few. Crane and Matten also speak about the necessity of being an ideal corporate citizen, as well as the pattern in which this can be achieved. (2) The work â€Å"The Oxford Handbook of Corporate Social Responsibility†, which has been penned down by Andrew Crane, Abagail McWilliams, Dirk Matten, Jeremy Moon and Donald S. Siegel, includes several essays on the crucial topic of corporate social responsibility. These essays throw light on the fact that the definition of this term (corporate social responsibility) has undergone a drastic change, on account of globalization. Corporate organizations are now entailed to aptly address several social

Recession and Banking Essay Example | Topics and Well Written Essays - 2000 words

Recession and Banking - Essay Example This was indicated by the McKinsey research which demonstrated that the competitive analysis proved how the banking industry was not adhering to set market dynamics anywhere in the world. With differences in performance between regions, structures and sub sectors, the use of the five forces of competition easily came across in the changing global dynamics of the banking sector. The McKinsey research further concluded that the next decade will herald a worldwide GDP growth reaching 16% by 2012. According to Deloitte, "The global banking industry weathered turbulent times in 2007 and early 2008. After rising interest rates and a decline in U.S. housing prices drove increased defaults among subprime borrowers, investors rapidly lost their appetite for securities based on subprime mortgages and soon for other securitized assets as well. Given the integration of capital markets, the impacts quickly ricocheted around the world, affecting banks, securities firms, and hedge funds in the Unit ed States, Europe, and Asia." (Global Banking Industry Outlook, 2008; Pp 1 to 12) This can be seen in the fact outlines by Deloitte according to which the AAA downward trends have affected the hedge funds the most. While commercial and investment banking institutions had announced write offs of almost $100 billion by January 2008, increased legal activity (double of what was seen in the previous year) became the trend for August 2008 onwards. (Global Banking Industry Outlook, 2008) In the face of these trends, this essay will seek to study the changing dynamics of the global banking industry according to the Pestel analysis and Porter's five forces of competition. PESTEL ANALYSIS Following are the features according to which the analysis has been carried out by taking the questions into consideration when studying the various pieces of literature to find a conclusion: Political What is the culture of the organization, How is the HR function viewed by other functions Who are the political champions of HR (or its adversaries) Shareholder views Economic What is the budgetary position of the department, Is more money available Are our customers likely to spend more or less money on the services we offer What is happening to the financial status of the organization Interest rates Inflation Salary trends in the sector Sociological Other departmental attitudes to HR Population shifts (age profile) Education Fads Diversity Immigration/emigration Health Living standards Housing trends Fashion & role models Age profile Attitudes to career Technological What changes may be coming our way What new technology/ systems, How do we record attendance, performance how might this change Use of and encourage home working Communications technologies changes of technology that will increase/ reduce the need for recruitment changes to HR software Legal What is happening in our sector that will impact what we do Minimum wage, Working time, Food stuffs, Under 18 working, Occupational/ industrial Training etc. What changes will impact the services of the organization Environmental Staff morale Staff engagement Need to reduce storage needs Management attitudes (inside dept/ function) Organizational culture Source: RapidBi - Pestel Template Findings The basic finding based on the PESTEL analysis points to the following trends as outlined in the various