Ethics and the Social Responsibility of Business

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The concept of business ethics stands for the idea that every organization should carefully approach its decision-making in order to consider the potential impact of its resolutions on community and individual humans in certain areas.

On the other hand, corporate social responsibility (CSR) is a notion that explains the need for businesses to remain ethically sound when making decisions related to the environment, consumer health, or any other sensitive subject.

The main arguments for supporting CSR are as follows:

it often protects stakeholder interests;
it does not align against governmental regulations, and
it eases the company’s long-run survival.

The main arguments against supporting CSR are as follows:

social benefits may be harder to attain;
economic activities should not be directly linked to ethics, and
not all employees possess certain qualities or competencies to become CSR-eligible.

The major issue in the case is that the government allowed the construction of one of the biggest coal mines in the history of Australia while disregarding the potential threat to the environment. To my mind, businesses and the government would share a similar perspective on the issue while the society would oppose itself to the construction project due to the evident premises to an ecological catastrophe. The ethical dilemma is that a coal mine would significantly contribute to the country’s economy but the subsequent dangers are just too big to be ignored. The key ethical issue is the willingness to achieve as many economic benefits as possible while paying no attention to society and its feedback. To achieve ethical decision-making, the government should consult with eco-friendly organizations and make sure to discuss possible outcomes with the local population. A good ethical business practice would be to slow down the expansion process and take one step at a time while listening to the community.