BUSINESS ETHIC AND VALUE : CORPORATE POWER AND ITS IMPACT ON SOCIETY AND STAKEHOLDERS

OVERVIEW
ECONOMIC IMPACT
CULTURAL IMPACT
TECHNOLOGICAL IMPACT
ENVIRONMENTAL IMPACT
POLITICAL IMPACT

ECONOMIC IMPACT
The positive impacts of businesses include:
-contributing to the communities' economic well being, and
-providing them with employment opportunities as well as better transportation systems and infrastructure facilities.

The negative impacts of businesses are:
unemployment and inflation,
-monopoly power,
-unequal distribution of income resulting from the capitalist system, and
-the manipulation of economic resources like land, labor, capital, and enterprises.

CULTURAL IMPACT
Amongst the cultural impacts of businesses are:
-the change in the position of women in the social hierarchy, and
-the change in social values, culture, and lifestyles of a community in both positive and negative ways.

TECHNOLOGICAL IMPACT
Technological impacts of businesses include but not limited to:
-the production of knowledge workers such as computer programmers, engineers, accountants, news editors, and so on,
-the rapid growth of new technologies through research and development (R&D),
-the innovation of creative products and services such as vacuum cleaners, hand phones, and the internet, and
-the elimination of close social or familial relationships.

ENVIRONMENTAL IMPACT
Among the issues relating to the impact of business activities on the environment are:
-water pollution,
-air pollution, and
-soil deterioration.
-The impacts result from human attitudes that do not respect the rights of others and the absence of concern for the environment.

POLITICAL IMPACT
-Business involvement in politics are in the aspects of issue management, government lobbying, and collaboration with the government towards economic growth.
-In every aspect of their political involvement, they should eventually improve public welfare.