Ethics In Business And Management Essay

2126 words - 9 pages

Nowadays, with the economic crisis going around the world, being a profitable company is hard, but being a profitable and social responsible corporation is even harder. In the Barrick mining company case, one may notice there are many problems confronting the firm ranging from property vandals, trespass, sexual assaults, and deaths to fraudulence conducted by Tanzanian police. Many may argue that as long as the region is plagued by unemployment and poverty, violent conflicts will continue to intensify. This, however, does not hold true because the area is poor to begin with. In fact, since Barrick’s arrival, the community has gained accessed to electricity, roads, employments, hospitals… ...view middle of the document...

1). They have gone from being employed to unemployed. Barrick is partially responsible for this situation. Secondly, it is Barrick’s promise to set an area for these small scale miners and this project has been long delayed by the company. Accordingly, this postponement is one of the reasons contributing to the intension between Barrick and the villagers. Therefore, by fulfilling its promise, Barrick is able to build a better image and weaken the intension.
Having said that, let us take a look at possible benefits and harms to stakeholders such as villagers, intruders, company and shareholders. First, the benefits this option brings are the small scale miners will able to get their jobs back. This in turn will soften the conflicts between the villagers and Barrick. For Barrick, the support from local community will increase; consequently, a better image of the company is forged. There may be no need for police and security guards as intruders will find it not necessary to invade the mine; thus, costs of hiring these staff are saved. Most importantly, the degree of violence will decrease in the area and property damages which cost the company millions of dollars are saved.
On the other hand, Barrick will lose some of its profit under this option. In addition, there is no guarantee that mine intrusion will stop, a better relationship with the community will be born and the villagers will not demand for more privileges. At worst, possible lawsuits to the firm can occur due to the fact that incidents may happen in this small scale mining area.
As mentioned above, the core problem has to deal with what the villagers feel about the company and their own situation. That is to say how one interprets a situation; therefore, another course of action is that Barrick should continue what it is doing currently. There are several reasons for this. The first reason is how one may define “sufficient”? There is no measurement and it really depends on the perspective view of a person. In essence, one party may feel that at this level it is enough; on the other hand, one party may feel it is too little. Particularly in this case, the villagers do not feel Barrick has done enough to the community despite the company’s efforts to build roads, good water and reliable water where there was none or very little before (Regent, p. 1). In contrast, Barrick feels it is “seen by the majority as stable, reliable, beneficial contributor to the community and the economy” (Regent, p.2). As a result, it is difficult to distinct between “sufficient” and “not sufficient”, which leads to the option that Barrick should continue doing its part.
Another reason is that change is inevitable in life and the villagers must find ways to cope with the change. There are always two sides of the coin as a matter of fact. Looking at the case of North Mara mine, one may raise 2 questions: “How come the villagers can cope with the positive changes such as electricity, water supply,...

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