Question

In: Economics

How might corporate behavior be improved and modified regarding safety and prevention of damage to the...

How might corporate behavior be improved and modified regarding safety and prevention of damage to the environment, as well as loss of life?

Solutions

Expert Solution

The corporate behavior can be improved and modified regarding safety and prevention of damage to the environment, as well as loss of life when there is enough awareness among corporate leaders regarding the problem and there is a willingness to conduct the same. The corporates need to be made responsible towards environmental protection as well as safety and security of human lives as corporates are an important part of the society and corporates earn profits using the resources of the society. Civil society, the government, and other regulatory bodies need to keep vigil and pressurize corporates to take the added responsibility to prevent environmental damage and ensure the safety of human lives. Moreover, corporates themselves need to be more conscious and accept their responsibility towards environment and safety of human lives. When corporates extend their goal beyond maximizing financial return and want to create more value for society, they would take active steps towards environmental protection and safety. When corporates include the same as one of their objectives, allocates funds and human resources for the same, monitor work and evaluate performance, then only they would be able to protect the environment as well as human lives.


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