Ethics

Q: Explain 2 actions Midas Ltd. can take to support Social Equality and Sustainability.

The Brundtland report 1987 involves 3 key components of sustainability which are Economic Growth, Environmental Protection and Sustainability, and Social Equality and Sustainability (also referred to as the triple bottom line). For the purpose of this question the focus will be on the latter, describing two of the actions   Midas Ltd can take to promote it.

From matter 6, to enhance the companies reputations Midas Ltd may consider social equality by trading with suppliers who can ethically provide evidence of reasonable pay and decent working conditions for its staff. This demonstrates that they promote fair working conditions and are against slave trade.

Another example is to consider making charitable donations in the countries with which it trades that support socially underprivileged. Midas would be demonstrating social equality and that they are putting something back into society. This will also give the company a good reputation.

In relation to the above points it is good practice for Midas Ltd to promotes social equality and sustainable development as this will improve the performance of an organisation by maintaining good relations. Decision making and reputation in accordance to the welfare of the general public (society as a whole) will also improve. Social equality is one of the key components however, for an organisation to enhance its overall performance and profits it should also consider the other two key components of sustainability too, Economic growth and Environmental protection.