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how should businesses act? - Coggle Diagram
how should businesses act?
Action vs Appearance
PR rhetoric vs operational reality differences - Goldman Sachs 100 hour work weeks vs wellness appearance by the company
DEI backlash and superficial diversity training without organizational overhaul
greenwashing vs true accountability has muddled definitions and understanding of what companies actually are doing and what the people want
Companies' images are highly calculated to appeal to changing social norms, but they are only appearances (pride logos, BLM for example) but no efforts to actually support the causes are made
Ethical vs Unethical Profit
Exploitation of regulatory gaps to make a profit. Debate on whether this blunder is because of the business or governments for letting the loophole exist
Monetization of surveillance and selling data (Palantir) and usage of controversial government contracts
Healthcare PE firms extracting value from care centers leading to additional deaths and mishaps
Ethical profit involves sustainable use of resources, help and reciprocation of stakeholders to encourage accountability
Role of Stakeholders
Refutation of IST
IST undermines the role of Ethics as it defines in relation to profit
People should be treated as ends not means
complex stakeholder governance is becoming very important. regular models do not encapsulate the growing complexity in a globalized world
IST
Treat stakeholders well for mutual benefit and reciprocation
Ethics viewed as a strategic resource
Internal Governance vs External Impact
conflict management between shareholders, activist groups and the government is necessary to encourage balance of power and sustainability
CSR and ethical tech usage consideration (Palantir, big tech) is crucial in a world where tech makes the biggest difference
Importance of internal policy to encourage wellness and remain sustainable for employees, avoiding situations in investment banks (GS)