Ethics in Business

I am part of the group assigned to EU-ASEAN Campaign Network and our work would involve us to have hands-on interaction with the different parties affected by an investment of a large conglomerate. The investments by this company here in the Philippines have greatly affected a local community and it is our job to weigh both the positive and negative effects of the company’s business in the community.

Having a business this big would that put up a branch here in the Philippines to expand its operations will surely create a big change in the community specifically the people’s livelihood, environment and generally the whole region it’s placed in. Learning the situation our group would be encountering has made me think of how it is not easy to make things converge and that all of the parties’ interests will be met.

Knowing the issue has made us take into consideration the ethical perspectives relevant in conducting such business and that we have to recognize factors like the welfare of the locals in the community specifically the costs that the business would be incurred and how the people will be compensated (if they will be) and if the business has taken all the measures to ensure that they have complied with all the standards by the government to operate its business. I also think that it would be interesting to see how the business will function. Above all, I believe integrating ethical standards and values by the business will enable it to be sustainable and also profitable not only for itself but also for the locals that are covered by its operations.

 

Jeremiah N. Banzon

2012-24751

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