Final answer:
The social responsibility of business encompasses corporations' obligations to society and the environment, particularly in the context of the Niger Delta where industrial activities have caused substantial harm. Ethical considerations and corporate responsibility are paramount, especially with emerging technologies like AI, and globalization has significant implications for workers and the environment, prompting debates on environmental justice.
Step-by-step explanation:
The concept of social responsibility in business refers to the obligation corporates have toward the society and environment in which they operate. Regarding the impact of multinational corporations on politics, workers, and the environment in developing nations, there is a consensus that businesses should take significant responsibility for social, economic, and environmental problems. This involves assessing the corporate footprint in areas such as the Niger Delta, where the activities of oil companies have resulted in environmental degradation, affecting local communities and ecosystems.
Ethical practices in business, especially when involving emerging technologies like artificial intelligence, present additional challenges. Ethical concerns about corporate responsibility and the potential dangers of these technologies underscore the importance of establishing and following robust ethical guidelines. Companies are increasingly held accountable not just for profit, but also for their impact on society and the environment, as mirrored in growing advocacy for environmental justice.
Globalization has affected workers worldwide, often leading to exploitation and unfair labor practices in pursuit of lower operational costs. Furthermore, environmental disasters such as oil spills in the Niger Delta have highlighted the negative consequences of industrial expansion into peripheral regions, sparking debates about environmental racism and the necessity for corporations to mitigate harm and contribute positively to society.