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Roll Number - 115 Examination Date – 24/4/2021 Subject Name - BUSINESS ETHICS AND CORPORATE GOVERNANCE Division - B Faculty name - Prof. Diesh Kapadia Total No. of Pages-3

a) Provide the systematic understanding: Problem Presentation and Problem Analysis with the context of corporate responsibilities and governance. Here, the problem is of negligence of worker’s safety, their rights and pollution of water bodies due to dumping of chemical waste in the name of development of nation and industrialization because Responsibility for safety is the most important aspect and highest ethical priority of any industry. The Bhopal gas tragedy in 1984 is one such example of industrial accidents killing thousands of innocent people. This whole disaster started from the lack of risk assessment. The root of this problem was in locating the site for the factory in first hand. The other problem includes risk of affecting the health of women because of no time available to them to look for their health. The Bhopal gas tragedy sheds the light on how the industrialization has caused deaths of people and affected the health of several generation leading to rise in disease. The lack of laws for human safety at workplace or lack of implementation of such laws can also be the one of the main reason for such work-related deaths or work-related disease. The safety, health and welfare of the employees, employers and even the public are of utmost important. There should also be a proper emergency response plan. The reason for women being affected more is because they not only do work when they at your office but then they have to work at home as well. This has resulted in no time for themselves to look after their health resulting in cardiovascular diseases. In the greed of producing more the worker’s are expected to work for long hours. According to the ILO they estimate that each year 2.78 million workers die from occupational accidents and work-related diseases. According to them no paid work should threaten a worker's wellbeing, safety or life due to stress, excessively-long working hours and work-related disease. We can conclude, that professional ethics, responsibility for safety and risk assessment are the most important aspects that should be practiced in every establishment. Non-existent of the subjects mentioned will lead to a disastrous damage to the factory, economy, environment and the civilization.

b) Provide an appropriate measure to avoid such situation as per the business ethical theories and Governance perspectives. Why or why not ethical code of conduct are not taken in consideration in practical term? How Code of Conduct and Ethical practices help to handle the critical problems. Responsibility for safety is the most important aspect and highest ethical priority of any industry. The safety, health and welfare of the employees, employers and even the public are of utmost important. There should also be a proper emergency response plan in case of fire, chemical leak, etc. For setting up any factory there should be proper risk assessment. Indirectly lowering the quality of man power, specialization, skill level and morality of workers at the working site to get cheap labour has its contributions to the disaster. Generally, in greed of saving the cost of production to gain more income, they insist on picking the place closer to the town centre to cut down the cost of transportation even though it is too dangerous for the local citizens who live nearby. Ethically, a good engineer should be hired to foresee the future impact of setting up the industry or factory at the chosen location and provoke the proposal to set up this factory/industry. There should be strict laws for keeping environmental ethics and their concern for humanities aside. Labours should be taught about the importance of education especially in safety matters. Non-existent of the subjects mentioned will lead to a disastrous damage to the factory, economy, environment and the civilization. More ordinances and acts should be implemented by the world government to ensure the safety of the people. The quality of recruitment of employees for significant roles must be made strict and proper on basis of inspection of past working experiences, education, qualification & literacy. This helps in improving the code of ethics in a company as the level of skill & quality is maintained at a high level. We can conclude that code of ethics are important for any professions in this world to ensure the maximum security and safety of the environment at the workplace. With the right code of ethics, the quality of the job will be at its highest point....