Organizational Behaviour and Human Resource Development Essay

Organizational Behaviour and Human Resource Development - Essay Example No consideration has been given to the impact of business practices on the environment. This has resulted into an increase in the global warming, and the natural resources reserves are diminishing all over the world. As people learned more and more about these facts owing to the immense universal rise in the literacy rate since the past few years, they have developed a sense of responsibility towards the environment. Ethics and ethical concepts like corporate social responsibility were never given as much importance as they are valued in the contemporary age. There has been a general discouragement and disliking for environment ruining businesses. As a result of this, modern day entrepreneurs face additional challenge of having to comply with the ethical standards in order to gain competitive advantage over their contemporaries in the market. Business ethics is a concept that is getting increasingly prominent in the current market scenario. It is a â€Å"buzz word† in the mode rn age corporations (Arrizza, 2009). This has also invited much debate owing to the conflict between the intrinsic nature of business and the ethical standards it is required to comply with. Business ethics is increasingly being taught in schools all over the world presently. ... Discussion: In any kind of business, the owner makes cost and benefit analysis of his decision to know whether the cost incurred in taking the action surpasses or is less than the expected benefits. Interestingly, what is beneficial to an entrepreneur is often harmful for many others and vice versa. Few decades ago, the doyen of market economics, Milton Friedman overtly expressed the concerns of a businessman saying, â€Å"There is one and only one social responsibility of business—to use its resources and engage in activities designed to increase its profits.† (Friedman cited in mindfully.org, 2000). Business owners tend to measure the financial benefits of their decisions. Any attempt that is business driven is an attempt to maximize the profits. A successful business is often quite ignorant of the implications of the owners’ actions on the society at large. This can be attributed to the fact that the stakeholders affected by the businessman’s decisions often realize that their rights have been subdued or they have been harmed in any way much after the harm was actually caused. For example, as the technological era was gaining strength, more and more industries were being established. The establishment of factories and industries was seen as a sign of development. People were not educated much. The scientific research was also not quite mature and sufficient to judge the environmental impacts of the conventional practices that were in place. The factories discharged waste into the water, and polluted the air with chemical rich dust. No one actually estimated the dreadful impacts of such practices until global warming showed up in the form of a