Case Study (For Section F)

Ethical practices in business

With the passage of time the Tasty Meal starts realizing the importance of CSR (Corporate Social Responsibility). Tasty meal now understands that being socially responsible is the key to success in the business world. It has taken a few responsible steps in the interest of its stakeholders. These are;

Raising hourly wages of employees

Addition of healthy food such as green salad with each menu free of cost and removing unhealthy and high calorie meals from menu

Start donating money from its net profit to NGOs to take care of the community

Using recyclable products instead of disposables such as tableware and containers

Promoting environmental protection by launching campaigns like Save Earth, Green Day, Save the Beaches etc.

Questions:

Should government regulate business ethics and social responsibilities? Why or why not?

In your opinion what are the reasons behind Tasty Meals steps?

Do you think that Tasty Meal will increase its profitability by taking such steps?

Ethical practices in business have always conflicts with huge profit.Do you agree with this statement? Yes or No? Justify your answer

Is this the only governments responsibility to aware business sector about ethics in business and being socially responsible? How can the awareness of CSR be promoted?