PERSPECTIVES
MORAL CHALLENGES OF BUSINESSES TODAY Morality is one of the principles governing human lives. It is the compass that points us to our north, to the truth of life. Morality means doing something that benefits others, without losing regard for one’s self and expecting anything in return. In the late 1970s, businesses started realising that they could benefit from lower costs of labour and environmental standards by shifting their operations to developing countries. The moral and social decay that resulted from the relentless pursuit of wealth brought the ethical conundrum to broad daylight, as they exploited the weak infrastructure and plentiful human resources. This lack of morality led to a rise in the discipline of
76
|
ISFIRE, DECEMBER 2019
|
PERSPECTIVES
|
business ethics. However, it was not as simple as theoretically explained. From an Islamic perspective, ethics should form the basis of any business activity. Islam encourages truthfulness and condemns exploitation in any form. Islam reinforces the idea that ethics and morality in business dealings is the key to a sustainable profitable growth rather than the other way around. We asked professionals their views on what is the most critical moral challenge that businesses face in this day and age.
W W W. I S F I R E . N E T
