Final answer:
Corporate responsibility in the realm of business ethics is deeply influenced by technology, affecting environmental practices and the balance with innovation. Professional guidelines such as those from the IEEE Computer Society outline ethical obligations in technology, and businesses must consider the social, economic, and environmental impacts of their actions in a rapidly changing global landscape.
Step-by-step explanation:
Business behavior and ethics are increasingly influenced by technology, with trends like cloud computing and social media playing significant roles in shaping corporate practices and policies. This impact also extends to ethical considerations around the development and enforcement of codes of conduct.
For example, professional organizations such as the IEEE Computer Society provide ethical guidelines that technology professionals are expected to follow, which cover aspects from software reliability to environmental responsibilities. Companies face challenges in establishing ethical practices that keep pace with emerging technologies such as artificial intelligence, which possesses its own set of potential risks and societal impacts.
Environmental considerations, for instance, are of particular relevance today. Information and Communications Technology (ICT) promises reduced reliance on fossil fuels and more efficient consumption patterns, exemplified in innovations like vehicle sharing and improved manufacturing methods.
However, fulfilling these promises requires commitment from corporations to adopt sustainable practices like using solar power for servers or electric delivery trucks. Therefore, businesses need to balance innovation with responsibility, considering their social, economic, and environmental impact.
Globalization and technological advancements have reshaped market dynamics, expanding competition and connecting consumers and businesses worldwide. Disruptive technologies, as seen with digital photography and online music, can lead to significant societal and economic shifts, affecting employment, community structures, and regional economies. Evaluating the difficulty of establishing ethical practices stems from these constant transformative pressures that businesses and technology sectors face.