The Impact of Ethics in Business Through Sustainable Procurement Practices in the Energy Sector
List of Authors
  • Prades Alhamdi Taqwin

Keyword
  • Procurement Business Ethics, Supplier Relationships, Vendor Management, Sustainable Procurement Practices, Corporate Procurement Energy

Abstract
  • The relationships between Companies as Owners and Suppliers is an essential thing when it comes to long-term business. One of factors driven it is Business Ethics. The research explores deeper about the influence of ethics in business through sustainable procurement practices which explore energy industry as the case. It also explores about how the relationship of ethical practices into vendor management which can substantially enhance corporate reputation, stakeholder trust, and long-term partnerships, which are critical to both immediate operational needs and broader strategic goals of sustainability. It also addresses a significant gap in the literature regarding the practical implementation of ethical procurement and its effects, providing theoretical and actionable insights for companies aiming to improve their procurement strategies and achieve sustainable success. As the demand for the transition into sustainable business models in the energy sector, crucial for meeting global environmental targets such as the 2060 net-zero carbon goals. By integrating ethics into procurement, companies not only comply with regulations but also drive strategic initiatives that lead to resilient and sustainable business practices. Through comprehensive analysis, the study will contribute both to academic discussions on business ethics applications and propose as a practical implementation guide for energy companies striving to enhance their ethical stature and overall business performance.

Reference
  • 1. Creswell, J. W., & Creswell, J. D. (2018). Research design (5th ed.). SAGE Publications

    2. Fourie, D. (2017). Ethics and Integrity in the Procurement of Goods and Services for the Military. Public Integrity, 19(5), 469–482. https://doi.org/10.1080/10999922.2016.1276790

    3. Fritz, M. M. C. (2023). Ethical supply chain practices to achieve supply chain resilience. In Research Anthology on Business Law, Policy, and Social Responsibility (Vols. 2–4, pp. 574–594). IGI Global. https://doi.org/10.4018/979-8-3693-2045-7.ch031

    4. Geissdoerfer, M., Vladimirova, D., & Evans, S. (2018). Sustainable business model innovation: A review. In Journal of Cleaner Production (Vol. 198, pp. 401–416). Elsevier Ltd. https://doi.org/10.1016/j.jclepro.2018.06.240

    5. Gibbs, G.R. (2007) Thematic Coding and Categorizing, Analyzing Qualitative Data. SAGE Publications Ltd., London. http://dx.doi.org/10.4135/9781849208574

    6. Muktar & Omwenga (2019). Influence Of Procurement Ethics on Organizational Performance (A Case Of Ewaso Ngiro North Development Authority). International Journal of Social Science and Humanities Research (Vol. 7, Issue 2, pp: (579-602)

    7. Weiss, J. W. (2014). Business Ethics. A Stakeholder and Issues Management Approach (6th edition). Berrett-Koehler Publishers.