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Nike's controversial business activitys - law and ethics - Essay Example
Author : lconroy
Pages 10 (2510 words)
Integrating Values - The Legality, Morality, and Social Responsibility of Nike Customer name Institution Integrating Values - The Legality, Morality, and Social Responsibility of Nike Introduction The importance of ethics and social responsibility in business has been the subject of debate since time immemorial…
The reason why it is necessary to regulate business practices by legal and ethical evaluation is because business is an essential constituent of the human society (Roa, 2007). Business organizations today are coming to realize that the famous dictum by Milton Freidman, the social responsibility of business is to increase its profits, may not hold much wisdom. This is well-exemplified in the example of Nike. Nike is a world-renowned producer of sportswear and other sports items. However, the company has had to face some major issues in the past related to its unethical conduct. Despite the fact that Nike is not the sole organization to be found guilty of unethical practices, it became the hub of censure and denigration because of its international presence and significant market share. In response, Nike took myriad of steps to improve its image and to make the process of manufacturing transparent. However, these measures have failed to be of much consequence. This paper will analyze the business practices of Nike in the context of three main values i.e. law, ethics and social responsibility. Legal Section The criticisms that were levelled against the organization bring to light the legal implications of carrying out business. It is necessary for a business to have a strong legal framework. ...