Topic > Mining Case Study - 1376

Evaluate business conduct in the mining sector using the three ethical principles of the Global Business Standards CodexIntroductionThe main purpose of any industry today is to pay attention to the multiple opportunities for improvement that exist. The mining industry's links to its primary resources multiply with its functions, while in other industries there are layers of processes between the primary resources and the final product (McKay, 2009). As currently described by Carroll & Buchholtz (2014), the ethics related to sustainable mining were founded around 2 key concepts corporate social responsibility (CSR) and transparency. Transparency initiatives focus on exposing revenue transactions between the public and private sectors within extractive industry projects. On the other hand, corporate responsibility focuses on strengthening the association between communities and companies (Carroll & Buchholtz, 2014). The pursuit of transparency efforts has triggered legislative and advocacy activity in the U.K., U.S. and Canada, which are the markets that host the majority of global mining stocks. Companies are deploying more resources and personnel to ensure that the benefits of mining development reach communities in the form of improved education, infrastructure and services (Hsieh, 2006). Ecological collapse, conflicts and endemic poverty in various regions have their roots in unequal allocation of resources. Therefore, a win-win situation becomes an illusion, and the chances of violations of ethical standards gradually increase. With this topic in mind, this paper focuses exclusively on business conduct in the mining industry and critically evaluates three ethical principles proposed by the b...... middle of paper ......in the mining industry. Today we have limited resources that need monopolization to make industrial mining profitable. Companies are deploying more resources and personnel to ensure that the benefits of mining development reach communities in the form of improved education, infrastructure and services (Reichert et.al, 2000). What is most important here is that companies must function fairly and ethically by using labor resources and collaborate with international organizations, researchers and policymakers to improve employee convenience and fairness and thus reduce labor exploitation. Therefore, the primary objective of a global economy must be development rather than simply the pursuit of economic growth, and justice strong enough to address the complex issue of mining labor exploitation must be incorporated...