BUSINESS ETHICS AND SOCIAL RESPONSIBILITY

Business Ethics and Social Responsibility

Business Ethics and Social Responsibility

Introduction

The main purpose of this paper is to make a case analysis of Anglo American Company. This case talks about the business ethics and social responsibility of Anglo American Company.

Company Overview

Anglo American company is considered to be the world's top mining companies. It is a UK based company and has its operations around the globe. Its main operations are in the primary sector of the overall world's economy. The name of this company suggests that its main operations are industry based, and it covers the areas like mining and agriculture. Main operations of this company are in Africa, and almost 76% of its employees are residents of Africa. It has also extensive operations in Europe.

Anglo American is a private mining company based in London, traded on the stock exchange with South American presence in Brazil, Colombia, Chile, Peru and Venezuela. Through its subsidiary, Anglo American Chile, has six operations in the country: the Blancos copper mines, Los Bronces Mantoverde The Soldier and the Chagres smelter and a 44% stake in the Collahuasi copper mine. Blancos produced about 90,000 t of fine copper in 2009. It also has coal interests in Colombia through Cerrejón and has the nickel operation Loma de Niquel in Venezuela. According to the annual financial results of the company, Anglo American reported underlying earnings of U.S. $ 2.569mn in 2009, down 50.9% from U.S. $ 5.237mn the previous year, group revenues dwindled by 25.3% to U.S. $ 24.637mn compared to U.S. $ 32.964mn. As for copper, Anglo American reported a record production of 669.800t, up 5% compared to 2008 due largely to the Chilean mines and Collahuasi The Bronzes. The Chilean subsidiary of Anglo American Chile, representing 41% of total group operating profit in 2009.

1. What are business ethics? Give two examples of business practices that stakeholders would regard as ethical and two that might be considered unethical.

Business ethics are the basic principles, and by following these principles, an organization can work in an ethical manner. Business ethics guides and organization or individual to work in a right way. Business Ethics teach the difference between the right and the wrong.

Speaking of Business Ethics can be relatively easy when one imagines an audience, likely to face promoted generosity, and altruism of employers by those are not. This feature disappears and melts into difficulty when ...