Most parents’ wish is for their children to live their life happily without too many hardships, to be a little bit better off than they are, and to be satisfied with the choices they make. However,  CBC states that “for the first time, the generation now aged 25 to 29 risks being poorer than their parents.”

While people were fighting to close the gap between women’s and men’s wages a few years ago, the new divide in our society today is age, as older workers are being paid over fifty percent more than younger workers. It is true that with more experience and education, the workers in their mid-50’s should certainly receive higher wages; however, that does not seem to be the only reason why. The average employment rate has definitely decreased throughout the world during the past few years. With less and less people working, people working in their 50’s are very scarce; therefore, they are paid higher wages.

The fall of the average employment incomes also targets the economy. The economy can only develop and keep going forward when the employment rate grows and vice-versa. To help the economy to grow, the rate of unemployment should be reduced and the GDP should increase. The continuation of low unemployment rate may cause the economy to continue struggling.

Reference
News, CBC. “Younger Workers Poorer than Parents’ Generation, Research Says.” CBCnews. CBC/Radio Canada, 24 Sept. 2014. Web. 26 Sept. 2014. <http://www.cbc.ca/news/business/younger-workers-poorer-than-parents-generation-research-says-1.2775231>.

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https://blogs.ubc.ca/tanyasharma/

As big corporations and conglomerates increase and small businesses fade away, multinational companies turn to low-cost labor so that they make more profit, as well as provide cheaper goods. It is definitely hard to find multinational companies, if not any, that do not have huge factories in China, Vietnam, or Bangladesh, where they pay very minimum pay for hundreds of workers. Not only is low-cost labor terrifying, but also millions of children, aged under fifteen, work across nations.

Can so-called-ethical-business be really called ethical when they are conducting child labor, depriving children of their basic rights? In one way, people can think that giving jobs to children will help families with no additional income; however, taking away the chance for children to receive education and be normal kids is definitely something a normal human being should do. Eliminating child labor is something all stakeholders should consider and take responsibility.

Companies should improve working space by:
1. Providing safe working conditions
2. Paying at least minimum wages
3. Setting specific working hours
4. No forced employment
5. No discrimination

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Lived in Penang, Malaysia for over ten years, Malaysia is my second home. This past year was one of the hardest struggles the Malaysian people had to go through.

On March 8, Flight MH370, heading from Kuala Lumpur International Airport to Beijing Capital International Airport, lost communication less than an hour after takeoff and disappeared, losing all contact for over six months now. The search for Flight MH370 became the largest and most expensive searches in history; however, no evidence has been found of the plane’s whereabouts. With a total of 239 passengers and crew members on board, the Boeing 777 vanished. Another plane “crash” of Malaysia Airlines Boeing 777 hit the news on July 17. MH17, scheduled to arrive in Kuala Lumpur from Amsterdam, was shot down by a Buk surface-to-air missile in Ukraine, killing all 298 passengers and crew members on board.

With two incidents happening in a span of less than five months, Malaysia has definitely been struggling this year as these two accidents not only affected Malaysia Airlines’ business, but also the Malaysian government. Although once a symbol of national pride, Malaysia Airlines was already suffering from financial trouble even before the two crashes.  Around 6,000 people lost their jobs at Malaysian Airlines in the last few months (cnn). These incidents also impacted the economy of many countries around the world: Unites States, India, Russia, and Ukraine, as the stocks dropped by a few percents.

References
Almasy, Steve, and David Molko. “Malaysia Airlines Flight 370 Mystery Remains Deep after Six Months.” CNN. Cable News Network, 08 Sept. 2014. Web. 16 Sept. 2014. <http://www.cnn.com/2014/09/08/world/asia/malaysia-airlines-flight-370-milestone/index.html?iref=allsearch>.

Anand, Kshitij. “Malaysian Airlines Crash: How It Impacts Indian Markets, Gold.” The Economic Times. N.p., 18 July 2014. Web. 23 Sept. 2014. <http://articles.economictimes.indiatimes.com/2014-07-18/news/51708577_1_malaysian-airlines-indian-markets-john-woods>.

News, CBC. “Malaysia Airlines Flight MH17: Crash Prompts Airlines to Change Flight Paths.” CBCnews. CBC/Radio Canada, 17 July 2014. Web. 16 Sept. 2014. <http://www.cbc.ca/news/business/malaysia-airlines-flight-mh17-crash-prompts-airlines-to-change-flight-paths-1.2710240>.

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With money and reputation standing as priorities for most businesses, it is definitely hard for companies to place ethics first. Business, however, is not always about making profit necessarily. Edward Freeman emphasized on how business is about working together—among consumers, stockholders, and managers.

A solid and balanced business is when people develop ideas, theories, and beliefs that combine business and ethical elements to give back to the community through various means of service. Tata, the conglomerate we talked about in Class 2, is a unique company that was founded to not only make a bunch of money, but also to help the community by sharing the wealth. Jamsetji Tata, the founder of the Tata Group, believed that “the mission of the righteous person is not merely to live a good life, but to make life better for others” (Casey). What sets apart Tata from other companies is that Tata Group follows ethical foundations set since the start of the company, in 1868. While hundreds of companies are struggling due to CEOs being forced out of their jobs because of their unethical actions, the Tata Group continues to stand with success with Jamsetji Tata’s legacy to impact and influence people’s lives. As the ethical culture becomes increasingly prioritized in businesses, on the long run, ethical companies stand as the most profitable.

“In a free enterprise, the community is not just another stakeholder in business but is in fact the very purpose of its existence.”
Jamsetji Tata

References
Casey, Peter. “Tata Success Story Is Based on Humanity, Philanthropy and Ethics.” The Economic Times. 5 Sept. 2014. Web. 11 Sept. 2014. <http://articles.economictimes.indiatimes.com/2014-09-05/news/53602009_1_tata-consultancy-services-tata-sons-tata-group>.

Lala, R.M. “The Hindu : Opinion / News Analysis : The Business Ethics of J.R.D. Tata.” The Hindu : Opinion / News Analysis : The Business Ethics of J.R.D. Tata. Web. 11 Sept. 2014. <http://www.thehindu.com/2005/07/29/stories/2005072905991100.htm>.

“The Tata Group: Integrating Social Responsibility with Corporate Strategy.” ICMR. Web. 10 Sept. 2014. <http://www.icmrindia.org/casestudies/catalogue/Business%20Ethics/The%20Tata%20Group%20-%20Social%20Responsibility%20-%20Corporate%20Strategy.htm>.

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