Ethics and Social Reqponsibiliities Paper Essay Example | Topics and Well Written Essays - 750 words

Ethics and Social Reqponsibiliities Paper - Essay Example Nike abused workers in various third world countries with sweetshop operations which violated human rights and working standards. In India in 1984 there was a huge gas leak accident cause by Corporation which could have been prevented if the company followed the safety standards of developed nations. This paper analyzes the statement â€Å"Strict governmental regulations are necessary to make companies behave ethically. The essay provides an analysis of the statement to illustrate whether the statement is true of false. Ethics and corporate responsibility are the two concepts used to dissect the statement. Ethics is the rules of conduct that are considered to determine if an action is right or wrong (Webster’s II, 1984). Most corporations especially public firms have established codes of ethics to set guidelines for the behavior of its employees. These written documents many times are not proactively referenced and utilized by the firms. In their host country many companies act and practice legitimate business practices, but once the opportunity surges to break the rules in foreign land it is another story. Ethics are suppose to be universal principles, but competitive forces at times drive company and its management staff into unethical decision due to the pressure to achieve results. A company establish in a foreign country such as the South American nation of Peru can legally abide by the standards set in that nation and if the norms in this nation are softer in different operating aspects the company will take advantage of it and lower their standards in order to reduce cos ts. The regulations about environmental issues set by agencies such as EPA are tough. If in Peru a company does not have to comply with certain air quality standards a company will not purchase the machinery and equipment necessary to comply with the US standard. The premise that strict governmental