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SUSTAINABILITY AND ETHICS
CRITICAL REVIEW
Table of Contents
Introduction    3
1. Relevance of Ethics in Business Decisions    3
Theory of Ethics    4
Utilitarianism theory    4
Deontology theory    4
Contract theory    5
Virtue theory    5
2. Relevance of Ethics in Business Decisions of Telstra    5
Rules and Policies to Ethics in Business Decision Making    5
Policy framework    5
Ethical behaviour    5
Cases or Decisions showing Telstra considers Ethics in Decision Making    6
Whistleblowing    6
Compliance training    6
Ethics, values and governance    6
Metadata and transparency    6
Human rights    7
3. Relevance of Ethics in Small Businesses    7
Conclusion    7
References    8
Introduction
Ethics plays an important role in the life of a person. It influences both business and personal lives of the person. Ethics can be defined as the approach, which can be used by people to understand, analyse and distinguish in between right and wrong. The making of choices between right and wrong happen at many times in life. In context of business, choices are made every day while making decisions in business. Ethics helps in clearing the dilemma of the person and directs them to make the decision, which is ethically co
ect. Ethical decisions save the business from facing legal issues. For example, unethical decision of Coca-Cola to hide the sugar content of their product led them to face legal consequences of their decision (Fo
es, 2018). The case organisation selected for this present study is Telstra. Telstra is an Australian leading telecommunication and technology company. It offers full range of communication services. It is Australia’s fastest national mobile network (Telstra, 2019).
1. Relevance of Ethics in Business Decisions
Ethics must be the base of the business. It has always proven to be deep-rooted in the working morale of the people. As viewed by Adewole (2015), business touches the sky of success when they can identify the needs of the society and fulfils them through sustainable approach using ethics. All customers expect ethical behaviour from their organisation. These customers are the part of the society. Thus, the society expects from the business organisation to conduct the business ethically and fulfil their role in the society. Ethics must be included in decision-making of the organisation so that they can practice business ethically. As mentioned by Baron, Zhao and Miao (2015), sustainable existence of the organisation depends on the ethical practices included in decision-making.
Ethics of the organisation is most tested during the critical time. It has been observed that the top management of the organisation takes the rational decision, which are unethical and at the costs of the company in context of consumers, finance and stakeholder during critical times. As noted by Valentine, Fleischman and Godkin (2018), partiality in judgement during decision making by practicing unethical moves is the first step of killing of goodwill of the organisation. Unethical practices when followed by organisation reflect the psychology of the entire management. As noted by Unger, Yan and Busch (2016), there is a very fine line between right and wrong, which is blu
ed when companies, in their greed, focus on selfish motives instead of fulfilling customers’ needs or contributing to the betterment of society or making profit without harming the environment. Unethical business practise occurs due to lack of ethics in decision making of the organisation. The aim to make large sum of profit on the cost of ethical policies may give instant profit for time being but it will tarnish the reputation of the company forever that will take more than so
y to rebuild the trust among people and society. Some of the unethical practices conducted by the organisation includes misleading of the product information, manipulation of the customer, government or stakeholders, lack of transparency in business, defamation of image of the competitor, mistreatment with the employees, and damaging the environment. Out of all the unethical practices, misleading of information is the most common unethical business practice.
Theory of Ethics
There are many theories given to establish the principle of ethics while making decisions in life as well as in business. Organisations, which follow these theories to develop and implement ethical policies in organisation, are successful in every front. Codes of ethics are formed using these theories. As suggested by Adelstein and Clegg (2016), code of ethics is the set of rules laid by the organisation to manage the employees and management in such a way that they can apply ethics in decision making during the time of need. These codes help the organisation in achieving sustainable practices. They make sure that the management and employees both are aware of the foundation of the moral policies of the organisation. They enforce the individual to follow them. In context of legality, these codes provide safe zone to the organisation and allow them to take the action during unethical practices.
Utilitarianism theory
This...