A business can promote ethical behaviour within its organisation through a variety of methods. Firstly, establishing a clear code of ethics is crucial. This code should outline the company's values and expected standards of conduct for all employees. Regular training programmes can reinforce these values and provide employees with the tools to make ethical decisions. Implementing ethical sourcing policies, ensuring fair wages and working conditions for suppliers, and promoting diversity and inclusion within the workforce are all important steps. Creating whistleblowing mechanisms allows employees to report unethical behaviour without fear of reprisal. Furthermore, businesses can demonstrate their commitment to ethics through transparent reporting on their environmental and social impact. Supporting community initiatives and engaging in corporate social responsibility (CSR) activities also contribute to a culture of ethical behaviour.

However, businesses may face several challenges in implementing an ethical programme. One challenge is ensuring that the code of ethics is effectively communicated and understood by all employees, particularly those in remote locations or different cultural contexts. Another challenge is overcoming resistance to change from employees who may be accustomed to more self-serving practices. Maintaining consistency in ethical standards across the entire supply chain can be difficult, particularly when dealing with international suppliers. Measuring the effectiveness of an ethical programme can also be challenging. Finally, businesses may face pressure to prioritize profits over ethics, particularly in competitive markets. Overcoming these challenges requires strong leadership commitment, effective communication, and a willingness to invest in ethical practices.

The argument that being ethical is 'simply good for business' has considerable merit, particularly when considering long-term implications. While there might be initial costs associated with implementing ethical practices, the long-term benefits often outweigh these. A strong ethical reputation fosters customer loyalty, leading to repeat business and positive word-of-mouth marketing – a powerful and cost-effective form of advertising. This loyalty translates into increased profitability and market share. Furthermore, ethical businesses are better positioned to attract and retain skilled employees, reducing recruitment and training costs and boosting overall productivity. A commitment to ethical sourcing and sustainability can also improve a business’s resilience to future risks, such as supply chain disruptions or changes in consumer preferences.

However, the 'costly burden' perspective also has some validity. Implementing ethical practices often requires investment in new technologies, processes, or training. These investments can impact short-term profitability. Moreover, ethical considerations can sometimes limit a business’s flexibility in responding to competitive pressures. If a competitor is operating unethically and offering lower prices, an ethical business might struggle to compete. The challenge lies in demonstrating the long-term value of ethical behaviour and communicating this value effectively to stakeholders. Ultimately, a business that prioritizes ethics is more likely to build a sustainable and successful future, even if it faces short-term challenges.

Globalisation has brought significant economic benefits, but it has also raised serious ethical concerns. MNCs operating across multiple countries face challenges in ensuring ethical practices throughout their supply chains. Child labour is a prevalent issue in some developing countries, where companies may exploit vulnerable children for cheap labour. This raises concerns about human rights and exploitation. Environmental damage is another significant issue, as MNCs may operate in countries with weaker environmental regulations, leading to pollution and deforestation.

MNCs have a responsibility to address these issues. This can involve:

• Implementing ethical sourcing policies: This includes conducting audits of suppliers to ensure they comply with labour and environmental standards.
• Fair wages and working conditions: Ensuring workers receive fair wages, safe working conditions, and the right to join trade unions.
• Environmental sustainability: Investing in environmentally friendly technologies and reducing their carbon footprint.
• Transparency and accountability: Being open about their supply chains and taking responsibility for any ethical violations.
• Supporting local communities: Investing in education, healthcare, and infrastructure in the communities where they operate.

However, the extent of an MNC's responsibility is debated. Some argue that their primary responsibility is to shareholders and maximizing profits. Others argue that they have a moral obligation to act ethically, regardless of the impact on profits. Ultimately, a balance must be struck between economic success and ethical considerations. Failure to address these issues can damage a company's reputation and lead to boycotts and legal action.