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EMMANUEL TETE DARKO MVP BONSAASO GHANA Ethics, Sustainability And Social Impact: (Incorporating Ethics, Sustainability And

Social Impact in Value Chain Activities)

September, 2012

Table of Contents


Abstract.3 Chapter 1: Introduction .........4 Chapter 2: Concept Review..5-6 2.1: The Concept of Ethics, Sustainability And Social Impact.7-9 Chapter 3: Methodology.10 Chapter 4: Findings And Discussions.11-14 4.1: Limitations of The Study14-15 Chapter 5: Conclusion and Recommendation................16-18 Reference..19-20

List of Figures


Figure 1: Chinese miners engage in battle with Community members in Ghana.12

Abstract Owing to drive for change in marketplace development, there is the need to deliver socially attractive upshots, but this will not ensue automatically. For some time now, ethics, sustainability and social impact programs have been consumer-driven via alert selections. Brands such as Fair Trade and Eko for instance have made these preferences promising and noticeable. Considerable number of marketers nowadays embraces ethical, sustainable and social impact programs, and is accepting accountability for the origin of their value propositions and business actions as well as considering sustainability as a requirement for the permanence of commerce. This paper evaluates Incorporating Ethics, Sustainability And Social Impact in Value Chain and in view of this, wide range of materials was read and that offered the advantage of low finance cost and for the purpose of this study an extensive literature review was examined to provide good background to the study. This study reveals that, failure on the part of astute marketers in considering ethics, sustainability and social impacts in attempt to gratify consumer needs will be critical and will not inspire employees and the consuming public and this could have unspecified repercussions on the fate of businesses. De-emphasizing the use of poisonous inputs in production has the potential to: avoid risking consumers life; improve corporate image and this enhances brand loyalty. There have been instances where businesses prefer to indulge in unethical trade practices because it pays in the short term and disregarding the long term positive consequences on business survival. The study therefore recommended marketers adopt these concepts since that will enable them to strategically segment and target markets well and position well at the marketplace and that market players need to champion sustainability concept in businesses and this has to be strengthened by price mechanism that will consider total cost of production.

Chapter 1: Introduction Most entrepreneurs in recent times are conscious about concepts such as ethics, sustainability and social impact in business, conversely, a considerable number of them continue to formulate their appreciation of these concepts and the gains to be derived from considering them in their business models. According to Aramaic Bible, (2010), The root of all these evils is the love of money, and there are some who have desired it and have brought themselves lots of miseries Most businesses exist to make profit-money, and is super-normal profit of businesses ethical? And will businesses whose prime object is to earn profit be sustainable if they continuously break-even? Is there a tension between business and ethics? Sustainability can be defined differently based on the circumstance, sustainability as said by Daniel C. Esty, P.J. Simmons, (2011, Pg. 5), In the corporate realm, it is referred to as triple bottom line approach to business via which firms seek to deliver profit and solid economic as well as good performance from an ecological and social standpoint. One aspect that is rapidly firming root is corporate social responsibility, and this is assisted by certification programs like SA8000 and Fair Wear in the industrial sector and UTZ Certified and Rainforest Alliance in the agricultural area. The participation of firms is promoted by inventiveness such as the round tables-a forum by which accords are reached to prohibit unethical practices, such as the rampant increase of land use for production at the cost of forests. It is generally believed business activities pose ecological and biodiversity threat, as a result a segment of entrepreneurs consider ethics as a driving force to sustainability. With global turbulent business environment, ethics frequently are dislodged by insatiability amid mounting prices. Inexorably downward trend of prices impose less profit on entrepreneurs which invariably affect labor force. In view of this, business competitiveness which creates a combat ground for firms to strive for survival drives unethical entrepreneurial practices leading to non-compliance of rules and regulations governing business operations. Instability which is inexorable becomes awful for the community and business in general. This creates a resource gap to define and promote ethical practices to provide business sustainability. Joseph Jacobsen, (2011, Pg. 1) enunciate unless we adopt more sustainable designs and operations in business and industry, resources degradation trends will weaken many important ecosystems, resilience, exacerbate the downward spiraling trajectory of depletion are pollution, population growth and urban migration. The landmark of this essay will be highlighting the thoughts of business ethics, sustainability and social impact and the benefits of incorporating them in business models in an attempt to offer value propositions and identifying tensions and tradeoffs when businesses less focus on ethics, sustainability and social impact in turbulent business environment. The focuses of this paper will be foreword, concepts of ethics, sustainability and social impact, why should businesses focus on these concepts?, societal tensions resulting from unethical business practices, key success factors in fostering ethics, sustainability and social consideration in business, and concluding remarks.

Chapter 2: Concepts Review This segment of the paper reviews the previous literatures in connection to this paper, specifically: Social Sustainability in Selecting Emerging Economy Suppliers by Matthias Ehrgott, Felix Reimann, Lutz Kaufmann, Craig R. Carter. (2011), and offer meanings to the concepts in the study. The concept review provides a wide analysis on integrating ethics, sustainability and corporate social responsibility in marketers value chain activities in wealth creation and the parent discipline provided the basic setting and the body of knowledge for the immediate discipline and this immensely enhanced the understanding of the current study. Following this, emphasis is shifted to the present study: Incorporating Ethics, Sustainability. And Social Impact in Value Chain Activities. Concerning the correlation of the extant paper and the concept review, the previous literature Matthias Ehrgott et. al. (2011, pp.99) examined how demands from businesses crucial stakeholders such as customers, Government and employees establish the degree businesses consider social aspect in choosing promising market supplier; evaluating the relationship among suppliers with socially sustainability and businesses suppliers capabilities, businesses marketplace image and knowledge in its supply management organization. The similarity in the previous concept and the extant study address the benefit of incorporating social impact in marketers value chain. This literature aims to investigate pressures that influence businesses social standards in selecting suppliers from up-and-coming economies. And also to examining possible touchable benefits marketers are most likely to derive with application of such standards. And Matthias Ehrgott et. al. (2011, pp. 99-100), resorted to evaluating businesses decisions on emphasizing social standards in their supply-development actions and Mail questionnaires were employed in data gathering to test theoretical model among sample from a couple of businesses in United States of America and Germany. Also, analyzes on the relationship between socially sustainable supplier choice and businesses competences of their suppliers. The expansion of findings from other previous works was as well employed by the authors and two research questions translated into hypotheses and developed into theoretical model were examined: notably: to what extent do primary stakeholders force businesses to think about social standards in deciding suppliers from rising markets? And how do firms benefit from adhering to these social standards with regard to (a) capabilities of emerging economy suppliers, (b) their market reputation, and (c) organizational learning in their supply management functions? Scales built through concept evaluation, interviews and pretest with practitioners, professionals and academics in supply management discipline, were employed to measure construct. Following completed reviews, the authors modified questionnaire items with the view to ensuring clarity among of items to interviewees. The authors concentrated on developed markets and promising markets in Asia, Latin America, and Eastern Europe with emphasis on supplier-management practices. This is principally accurate for interactions.

One upshot of this concept review indicates that the strength of client and middle executive social demands are less inversely linked to selecting suppliers with social

sustainability. However, the same findings opined that there was nix correlation between government social force and supplier with social sustainability. Businesses planned capabilities, purchasing firm image, and firm knowledge all had positive correlation with entrepreneurs with social sustainability. Firms middle level executive were found by this parent concept to be a considerable driving strength in suppliers with social sustainability; and finally, assimilating social issues in selecting suppliers influence the firms image globally. The previous parent discipline recommended marketers need to position intrinsically motivated staffs who demonstrate high social standards during supply development process as middle-level supply executives, and that it is imperative for senior executives to facilitation conducive business environment that will enable such intrinsic motivation to flourish. The study also suggested the use of social criteria in the selecting suppliers from promising markets could be useful channel of deciding which trade partners possess advanced strategic competences. It was found that the addition of thorough social criteria in selecting supplier will enhance supply development knowledge and purpose, as a result of robust interactive requirements. The previous literature concluded that inadequate inter-national variations creates prospect for interregional best practice to be shared. It is noteworthy to state that, the study credited the works of others that was cited to buttress their contention. For instance, one significant remarkable result from the study was the dominant role of employee influence as motivating power of generally sustainable supplier choice initiatives in up-and-coming market source and this was corroborated by Kristof, (1996); Sen and Bhattacharya, (2001) when they posit employee could apply their salience to sway marketers supplier- development actions. Notwithstanding this, the authors fail to pinpoint ethical and ecological considerations in their presentations and regrettably were silent on tensions that could emerge granted that businesses do not consider ethics, sustainability and social impact in turbulent business environment. The extant study addresses the gap in the concept review and that offers justification for the current study owing to its capacity to gratify the identified gaps in the concept review. It is essential to underscore that no preceding study has been prepared on this work: Incorporating Ethics, Sustainability And Social Impact in Value Chain Activities. There has been less prominence if not zero emphasis on this theme, particularly when businesses are increasingly becoming conscious of triple bottom line as imperatives in an attempt to create wealth for stakeholders. Myriad articles have investigated and emphasized the concepts of ethics, sustainability and corporate social responsibility. Notwithstanding, this the less prominence on this theme has generated a study gap into the capability of employing the triple bottom lines in wealth creation. The extant study intends to fill this gap in part.

2.1: Concept of Ethics William H. Shaw (2010, Pg. 7) posits that Ethics deals with a persons personality and the ethical rules that oversee and limit our conduct. It probes inquiry of right and wrong, duty and responsibility, and moral responsibility. It generally concerns relations of mutual concern in society between all personality and the call for limiting ones egocentric ideals when it contradicts the common interest. Business ethics means differently to varied people as well as differing business environment, perhaps due to cultural variations and this is a turf not proscribed whatsoever by a single entity, therefore thorny to set what marketers ought to do, the inevitable is for businesses pursuing what they wish. Even though, entrepreneurial economy will be positioned better to perform effectively, granted market players will be diligent to fulfill to lay down ethics. For instance, demand for payment is honored, contracts are revered, and equity holders, staffs, competitors suppliers, buyers and stakeholders are accorded the needed courtesy per law and contract provisions. Unfortunately, business ethics most often than not are either overlooked or varied depending on which customer marketers are trading with and this do not make them more effective and efficient. There is a high probability for businesses to be unethical when a prospect exist to make unimaginable profit at expense of society. A shining example is, tobacco is widely believed and scientifically proven to be one of the cancer causing agents which lead to death. According to Cancer Facts & Figures, (2012) The use of tobacco is estimated to be 30% of the entire cancer deaths and 80% of lung cancer deaths Despite this frightening statistics, tobacco marketers are not bothered and are vigorously employing subtle strategies in targeting their segmented markets all in the interest of money. Undoubtedly business mark-ups supersede ethics. Also, most small scale mining firms and some macro-holder cocoa farmers operating in areas with finite labor resort to child labor in production disregarding the unspecified consequences to society in general and the individual in particular, just because of their margins. This constitutes unethical trade practices. Slave trade, pharmaceutical firms trade counterfeit drugs, on 6th August, 2012 Police in China arrested more than 1,900 people in a crackdown on the manufacture and sale of fake medicine, authorities said. Money laundering businesses, 6th August 2012 Standard Chartered bank illegally "schemed" with Iran to launder a colossal amount of $250bn (161bn) close to a decade, a US regulator says Firms blatantly ignoring international labor laws and constructed slavery working conditions among others are quite a few of unethical trade. Imperatively, these marketers with unethical trade practices create immerse societal tensions in their jurisdictions since in all cases the development of people are endangered and the sustainability of businesses cannot be guaranteed with social consideration completely displaced. Concept of Sustainability Sustainability according to Adam Werbach, (2009, Pg. 8), is doing things now to cater for myself and family, in order not to make bad choices that one needs to deal with it in

times ahead. Business Sustainability, or Eco-efficiency, could be define as a mixture of financially viable and ecological effectiveness, and is fundamentally about 'doing extra with a smaller amount. It means creation with less energy and innate resources, resulting in less ravage and contamination and lesser expense. Eco-efficiency highlights value creation for the manufacturer and the shopper. Thus the triple bottom lines of financial, environmental and social needs are integrated in the definition. Now that sustainability has become a mainstream ambition in the corporate sector, the task is to ensure sufficient produced goods. Nico Roozen, (2010, Pg. 10). In prioritizing for sustainability, there is the need for pareto optimality in productivity of entrepreneurs, valuation of business interventions will definitely elevate quality of value proposition, local content levels need increased to a higher level, supplier competitiveness has to be improved dramatically to meet the industrialization strategy of the firm, firms need to massively invest in training and skills development of employees, demand for responsible goods and services by consumer will be key. There is the need for sustainable business development meaning applying, preserving and enhancing resources, thus ecological procedures, whose existence depends, are upheld, improving the quality of life for consumers today and tomorrow. This necessitates transformation in marketing actions in the need-gratifying efforts. Critical to business sustainability is incorporating green (ecological) and improvement considerations into business choices. Investments that are significantly viable have the potential to generate socially sustainably benefits, granted that, they are disassociated from ecological externalities or unattractive social and allocational changes within or beyond the immediate project spot. Marketers need not to be market giant to discover competitive differentiation in adopting sustainability into business model, implementing green values and reaping Eco-benefits shows how smart you are at the marketplace. Concept of Social Impact There is no universally acceptable definition of social impact and business interventions impact possibly will be optimistic or unconstructive, and may well be anticipated or inadvertent, or an amalgamation of all, social impact signifies a firms impact on its stakeholders and not its equity holders. Social impact could be referred to as corporate social responsibility, corporate philanthropy, corporate citizen, corporate goodwill and corporate giving. These terms will be used interchangeably in the literature. Marketers actions have the potential to instantaneously and directly impacted on customers; however such actions could as well as have other influential upshot on stakeholder. Social impact dimension talks about appreciating the effects on diverse people that occur due to an action, activity, development, agenda or guidelines. Social impact could be defined as using the influence of business to create a healthier planet and marketers need to integrate this concept in their strategic marketing models. According to Phillip Schreck, (2010, Pg. 5). The phrase is fantastic; meaning somewhat, although not forever the same thing, to everyone. For several this expresses the thought of lawful obligation or responsibility, For some this is socially accountable

actions in the ethical logic; For some others, the significance transmitted is that of responsibility, in a causal mode many simple liken this to generous donation. Integrating social impacts in business has been driven by the effects of technologyempowering people to access relevant information easily, civic society mounting constructive pressure on business malfeasance, finite marketable resource allocation from state to private enterprises, protests from buyers pressure groups, growing pressure from employees on employers to do things right. Social impact is fast occupying the minds of entrepreneurs and significant number of them is integrating it in their models and marketers are accepting the fact that social impact is a viable component of strategic business model; and this concept need to be considered as a source of business opportunity, novelty and competitive edge, instead of expense. The emphasis of social impact is gradually shifting from integrating it into strategic business strategy to smartly implementing it to be ahead of the game. Adrian Henriques (2010, Pg. 2), opines that social impact concerns social issues and problems such as human rights, poverty and environmental issues are some of the things that come in mind. Being corporate citizen as a marketer means addressing wide range societal concerns from extreme poverty via economic empowerment to health to education, public safety, to infrastructure, to institutional development to guarding animal right green (ecological) sustainability.

Chapter 3: Methodology In addressing the topic of the paper, quantitative and qualitative methods were employed with the view to validating the results and making the findings meaningful and this makes it applicable to varied market. There were graphical representation of events, examination, evaluation, measurement, comparison and contrasting of information gathered from secondary sources including the internet; ready-made reports; Government and private business information; trade directories; trade associations were heavily explored and reading as well as discussing the topic with business practitioners and professionals in an attempt to achieve the set goals of the paper. This method facilitated the understanding of the theme and contextualizes it better. There was no attempt whatsoever, to manipulate the data gathered to suit premeditated conclusion neither was the findings prejudiced in any manner irrespective of historical market actions and business environment and that significantly justify the validity of the methodology employed for the study. The concept findings were expanded and in some cases contrasted from local perspective. Frantic efforts were made to contract errors in presentation and elucidation of data obtained and that justified the reliability of findings globally. Aside the rigorous information search and reading made to access information for this paper, it was less costly in terms of finance, since survey questionnaire was not adopted. Issues raised with illustrations in the paper encompassed local, national and regional platform and this to a greater extent made the findings generalizable regardless of the studys constraints. And because the Business Department of Atlantic International University meticulously scrutinized the content of the paper and all material data sourced duly credited one can assert that the study was highly ethical with enhanced quality.


Chapter 4: Findings And Discussions The extant study reveals why it was prudent for businesses to focus on these concepts (triple bottom line) and divulges malfunction of ethical managerial leadership in businesses could be gravely destructive; discourages staff, breeds public distrust, and eventually results in firms decay. Unethical marketers could reap profit only in the short run since valued and discerning customers will in the long run cease patronizing their products and will not benefit from marketing continuity. And was corroborated by said by Andrew Crane, Dirk Matten, (2010, Pg. 9), when they posit that business ethics is important for entrepreneurs since it has the potential to offer a major input to society, with regards to producing the needs of consumers, presenting jobs, payment of taxes and performing as engine for economic development. The upshot of the study also indicates that when marketers integrate ethical, social needs and sustainability in its operations effectively, it has a huge potential of tumbling business risk, enhancing wealth creation, offering competitive edge and improving business liquidity. Making stride to contract marketers undesirable ecological, jobrelated, social impacts and individual health will to a greater extent avoid varied forms of business risk. The risk of impacts themselves are reduced, for example shrinking the use of dangerous chemicals will invariably contract health related risk, firms image is protected, lawsuits risk is avoided, regulators fines/sanctions revoking of license are avoided. Thus overall brand equity is projected. It is in view of this that Dennis Collins, (2009, Pg. XV) conceived that ethics is an issue of trust, and if we lost the trust of our clients due to ethical breaches perceptions, we would be out of business. The triple bottom line concept is critical for astute marketers as a result of the fact that integrating these concepts enables marketers reap tangible but quantifiable as well as intangible profits. Linda K. Trevino, Katherine A. Nelson (2010, Pg. 3), asserted commerce in times past has proven beyond any doubt that separating commerce from ethics and values has vast risk. Marketers have a unique opportunity to benefits from attracting and retaining employees with superb skills mix, less laggards customers, high supplier innovators, high quality investors, immerse government and community goodwill, timely market intelligence among others if they concentrate on ethics, social impacts and sustainability in their need-gratifying attempts. These are eventually translated into huge volumes of sales. The extraordinary economic benefits for marketers of prioritizing these concepts can be seen in employees embracing ownership concept at work places and demonstrating fidelity to its elastic limit. Sri Urip, (2010, Pg. 8), sums it all by asserting that for businesses to endure and flourish, it need to identify the optimum balance among social, ecological and economic factors for short and long run performance and profit. The findings of the study equally validate the social impact of marketers value propositions on stakeholders have become a fundamental concern, and Marc J. Epstein, John Elkington, (2008, Pg. 19) contend social concerns and other sensitive issues have become an essential part of building shareholder value and the management of both global and local ventures. Incorporating three bottom line concepts in business opens up new market opportunities for marketers. Due to the trust

and communal goodwill enjoyed penetrating new market grounds and taking a lion share of existing market with fantastic marketing models is less burdensome Prioritizing ethics, sustainability and social impact as marketers, could offer you the guts to brand and communicate your corporate social responsibility and this will urge marketers to segment and target properly. Not only is prudent for marketers to offer back to operational communities, it also represent astute business. The study further remarkably confirmed that, societal tensions results from unethical business practices and these are usually concealed during trade and open proponent of unethical business practice is rare for the reason that marketers corporate image will be bruised. Unethical business practices appear to be gratifying and rewarding, and extremely improbable to resist as marketers especially when it improves the liquidity position of a firm and offers it a sustainable competitive edge over rivals as juxtapose to risk and price of being caught by business regulators. It is in this direction that O.C Ferrell, John Fraedrich, (2010, Pg. 5) the global financial crises took a toll on consumer trust of financial services companies. A study of 650 U.S consumers revealed that 66% of respondents did not feel the financial services industry would aid in regaining their lost wealth as a result of the recession. Words used to describe the industry included greedy, impersonal, opportunistic, and distance Examples of unethical business practice that have resulted in terrible tensions amid consumers, general public and stakeholders include: small scale and illegal miners have shun all environmental requirements in mining operations and degrading the ecosystem wantonly and surprising enough when in the grips of the law the punishment meted out is ridiculously outrageous that hardly deters other unscrupulous entrepreneurs with unethical motive the resultant being creation of tension. There was pandemonium when some alleged Chinese miners triggered fire on rioting youth of Manso Nsiana,in the Amansie West District of the Ashanti Region in Ghana. The chiefs and people of the town, incensed by the operations of the mining company, which they claim their checks at the Ghana Minerals Commission specify only has the authority to prospect for minerals but not to mine, Sampson Nyamekye, who was present together with other journalists, reported that there were about 20 Chinese men caught up in the incident and to him, the Chinese miners were wielding not just ordinary weapons but pump action guns, firing indiscriminately into the sky Figure 1: Concept connection to shunning environmental practices and degrading ecosystem wantonly Chinese miners engage in battle with Community members in Ghana


Source: Incessant suboptimal unethical conduct to the expectation of society results in retribution and fines inflicted by society. Societal members are also agitated and most often want to see the extinction of unethical firms with the view to saving the health of the environment and the development of the people. Sports directors in the quest to attain the set goals of the sporting club employ unethical strategies in doing so. Some on couple of times have bribed officials of the game to compromise their responsibilities with the view to achieving their objectives. There have been cases where such scandals are so glaring to the extent that it triggers destructive response from fans of the game. This is corroborated by 2006 match-fixing scandal that stunned Serie A witnessed Italian giants Juventus demoted and stripped of their title after they had been indicted of being supported to triumph by some less than evenhanded officiating. Other clubs were implicated, too, and AC Milan, Lazio, Fiorentina and Reggina were all handed points deductions for their role in the scandal. Oil drilling companies in an effort to create wealth consciously or unconsciously spill oil into the ocean and endanger the life of species in the water bodies, for example, according to Gary Langer, (2010) Americans hold up the pursuit of scandalous accusations in the lands most awful oil spill with people branding it, the chief ecological tragedy. 8 in 10 condemn the way BP's handled it and lots of citizens give the federal governments reaction an unconstructive ranking vis--vis Hurricane Katrina response. Unwholesome products offered for sale by marketers in most cases affected the health of the general public when consumed and more often than not there has been pressure from advocacy groups and the general public on the statutory institutions for shirking their responsibilities. It is in view of this that the Food and Drugs Board, upon am intelligence seized a load of close to One Thousand (1000) cartons of harmful fish, imports from C & G Company Limited based in Tema.
13 It should be noted strongly that the absence of ethics in business has the potential to destabilize global liberalized market system. It further confirmed by the study that unethical businesses suffer when caught by regulators and is ratified by this excerpt. The SEC acquired a court order to confiscate the assets of merchants operating accounts in Hong Kong and Singapore to benefit over $13 million in illegal profits by trading in advance of a public announcement that China-based CNOOC Ltd. decided to take over Canada-based Nexen Inc The Minerals Commission is proposing stiffer custodial sentences for illegal mining operators instead of fines to serve as a deterrent to others And Klaus Deininger, Derek Byerlee (2011, Pg. XLI), argued that Environment norms need to be clearly defined and compliance with them monitored, with ways for recourse in case of noncompliance. It is therefore imperative for marketers and Government alike to inject ethical, sustainability and social impact in their business actions to avoid unnecessary tensions amid the populace and reap the fruit of considering such concepts. What we need to understand is that, if businesses become unethical and evade or support clients to evade tax, government cannot generate enough funds for infrastructure investment and the population has to suffer. The findings of this research are useful as a theoretical foundation for further research.

4.1: Limitations of The Paper This paper incorporates some limitations which affect the overall validity and reliability of the findings. The primary limitation in this study may not only be the rejection of survey questionnaires in generating the data, perhaps the findings could have skewed to different direction, but also the inability of the writer to cover all sector of business economies due to inadequacy of time, finance, accessibility and material resources. As a result of this the findings may or may not be generalizable to other markets. There is the need to further investigate the new theory to measure its replicability. By and large, the limitations of this study were generally surmounted and have provided opportunities for further research. Within the limits of this topic, of course not all stakeholders were heard, not all regions were covered and not all business practices observed. However, extensive reading has been done and it is envisaged a pretty great information has been gathered to deal with this topic adequately. There are always limitations due to choices made about the structure of the presented information. Extensive use of secondary sources was resorted because it is critical from a realistic view point. The study might not cover other connected important issues, such as ethics, sustainability, social impact and nonprofit organization among others. it is however thought this has been treated adequately by others. The finding of this study does not represent all disciplines the issues raised when researched by different researches might contain snippet of prejudice and the methods employed serve as a limiting factor to the degree of analysis. As a result of this, impending research bearings need to consider these limitations and vary the methodology to evaluate how qualitative, validity and reliability

the findings made in this study. Impending study could corroborate or contradict the findings of this study.

Chapter 5: Conclusion The prime object of this paper was to highlight the thoughts of business ethics, sustainability and social impact and the benefits of incorporating them in business models in an attempt to offer value propositions and identifying tensions and tradeoffs when businesses less focus on ethics, sustainability and social impact in turbulent business environment. The main conclusions of the paper are presented below: Contemporary global market setting, promising ethical standards in business might direct business control as well as offer superior ethical perspective for operating business globally. In view of this, recognizing these standards has the prospect of helping businesses to detect desirable habit that could unlock cutting edge strategies for supremacy, business feat, and progression. Business sustainability could mean economic improvement meeting present generations needs devoid of compromising upcoming generations ability to satisfy their insatiable needs, this incorporates corporate social responsibility and nationality alongside improvement in managing corporate social and environmental impacts as well as improving stakeholder connections. The daunting task is to showcase how the concept of sustainability could make tangible difference in conditions of work, smallholder producers income levels, and accessibility of merchandise for generations unborn. Demand is not a limiting factor any longer to sustainability concept, rather supply is. Sustainability products and accessibility have become a marketplace competitive importance and any firm that takes pioneering move enjoys competitive edge over rivals. It is in view of this that most firms in recent times are engaged in supplier/producer development. This is the time to manage the evolution to global sustainability; we need to think and act innovatively as entrepreneurs, and foster novel agreement and understanding, formed trade coalition and shape new working habits and processes. Trial and tested to be sustainable need to be scaled up. A great question for all is what trade behavior do we exhibit during pre-certification? Pericertification? And post-certification? Marketers compete for customers and attempt to be victorious at the marketplace; the law to some extent consigns limitation to unhealthy competition. For marketers to fully be ethical at the market place is indeed a complicated issue against the backdrop that business needs to survive and improve ethical values. Incorporating corporate social responsibility into conventional business environment is a must if societal interest is considered and this compounds the job of marketers since ethical values and requirement are not that smooth and look ambiguous. Business ethics is a field not controlled by any individual/institution, thus difficult to prescribe what marketers ought to do and this to some extent justifies whatever habits businesses wish to pursue. Notwithstanding, consumerist economy is most probable to

performed effectively given that stakeholders in the business environment are conscientious to comply with a set of ethics. As marketers, we need to strive to purge circumstances that create business rift and apply reliable business practices to fashion ethics in global markets and it behooves on society to inculcate into its members ethical cultural values to shapes the lives of people prior to going into business. By demonstrating openness and impartiality in business choice-making; ensure duplex communication between business managers and stakeholders; and answerable to stakeholders who has confidence in their professionals to do things right, then you will not only be demonstrating ethics as a marketer but more imperatively crafting ethical lines, conveying unambiguous expectations in the business team, as well as inculcating these ethical philosophy in them, thus critical ethical thinking becomes embodiment of firms inherent code. Marketers are expected by the general public to attain financial success, ethical success and environmental success and sustainability in offering their value proposition. Novel ways of raising market ethical heights need to be explored constantly and there is no objection to businesses optimizing the ethics and social considerations to humanity. The chief object of most marketers is to satisfy equity holders, improve firms liquidity position and survive else why go into business? Triple Bottom Line comprises the complete set of values, issues and processes that marketers need to address with the view of minimizing damages emerging from their business actions. Triple bottom line attempts to generate acceptable economic, social and ecological impact that guarantees sustainability. Triple Bottom Line exposure symbolizes a paradigm shift in highlighting solely viable precedence to an identical but mutually dependent connection between economic, social and green values; thus all marketers need to fashion ethical goals, social and sustainability goals in their business plan. Again marketers who consider improved ethics, sustainability and social impacts in contemporary global market as crucial in their core competencies and fused them in their daily marketing models and plans can enhance their overall competitiveness in increasingly turbulent business environment. Why allow your competitors to be ahead of the game when you can prioritize the three bottom lines and beat them? Finally being unethical as marketers will not only results in bad word-mouthing against us but rather create danger for our co-existence with society via avoidable tensions that has the potential to ruin businesses and society as a whole.

Recommendations From the foregoing submission, the study recommends the following as success factors in fostering ethics, sustainability and social consideration in business: Sustainability improvement need to be driven by the marketplace, meaning that the course to attain that must be led by marketplace participants notably producer and marketers, reinforced by price mechanisms that mirror social and environmental expense of producing goods and services as well as the price of expected and ecosystem reserves. Sustainability market-space needs to be the interface between marketers living up to their corporate social responsibility contained by superior governance and visible public segment

supported by civil institutions. Smallholder producer of agricultural produce for example, must avail themselves with training and development skills to build their capacity which invariably will strengthen their farm operations efficiency. This coupled with organizing themselves to be targeted by certification firms to be processed for certification will positioned them better on the market. Market channels (intermediaries) in an attempt to develop sustainability need to serve and organize smallholder producers of agriculture produce by delivering sustainable agricultural inputs that can be traced from source to the final customer. Not only that but also conduct business with clients that are sustainable minded and it behooves on them to trade and promote sustainably. Valued customers need to demonstrate interest about supply-gate and processes involved in products they consume and patronage exclusive sustainable products as well as supporting and stressing on proper labeling of products. Statutory institutions need to formulate constructive policies that will facilitate the process without being a destructive interventionist. These individuals and institutions need to play an integral role since any attempt on any of them to expect the other to drive the process entirely will become fiasco. Sustainability products and accessibility need to be prioritized as value proposition at the marketplace to inject dynamism at the marketplace and invariably, this is most likely to results in producer innovativeness which offer them competitive advantage, and consumers being fewer laggards. Management of sustainability evolution globally, thinking and acting innovatively, fostering novelty in agreement and understanding, forming trade partnership, shaping new working habits and processes is a must do for all stakeholders. Spots not appropriate for business development must be secluded from infringement and any original or further rights on them cherished. Penalties for indulging in unethical business practices if found, need to be exponentially severe to deter marketers from engaging in it, full enforcement of legislation/laws on ethics will be a starting point. And more significantly, customers need to shun the patronage of identified unethical businesses which many consider as potential force to demise a firm, if for example a firm is deeply bad word-mouth it will definitely collapse. Regulators of business environment, competitors, equity holders and all market players has a responsibility of unlocking the secrecy surrounding the taboo of openly naming, shaming and prosecuting businesses with undesirable conduct with the view to enhancing sustainability of all business to profit society in general, social developments and better working conditions for all. It is intriguing to recommend that funds providers and owners particularly international ones need not to meet the resource gap of entrepreneurs found to be unethical in their business models and crowd them out of the market. Corporate managers have a responsibility to instill ethical values in subordinates and not only frown on unethical conduct but also punish as well as reward those who demonstrate ethical conduct. Civic institutions and international bodies who themselves are not caught in the web need to promote advocacy on this direction to raise the awareness levels of all to be more vigilant than before so that the needed pressure will be mounted on businesses to live up to expectation. Ethics need to be a core variable of performance appraisal for businesses and their staffs, since to a larger degree will inspire them to fasten together the call of leaving the globe a healthier place for the next

generation. Candidness and impartiality in business decision-making; ensure duplex communication between business managers and stakeholders; and answerable to stakeholders who repose confidence in marketers to do things right. Demonstrating ethical values as a marketer and more essentially unlocking ethical lines, conveying explicit expectations in the business team, eventually inculcate ethical thinking in employees and shows in all business value activities, the result being enviable brand equity for the marketer. Finally marketers need to make budgetary provision for these concepts, since that is the only way employees and valued customers could be sensitized and other core interventions in achieving ethical values; social and environmental impacts in business operational jurisdiction will be feasible. Via communication on firms corporate social responsibility for example, stakeholders get to appreciate the fantastic work firms do to bring social impact to its stakeholders. It is as a result of this that Kellie A. McElhaney, (2008, Pg. 4) affirmed that many firms are doing more and not less in the world to improve education, health care and environmental protection. The problem however is that they are not telling their stories. These concepts should be a function of management and creating a department for that will travel a longer distant in implementing them effectively, since the departments eye will continuously be on the ball.


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