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Importance of ethical decision making in business
Importance of ethical decision making in business
Making ethical business decisions in business
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Ethics and Responsibilities go hand in hand. With businesses that develop products for the public, the decision making process is crucial. Before one can make a judgement for what is right and wrong, one must understand to a degree the consequences of those actions. Businesses have responsibilities for the product they manufacture and distribute, but how much responsibility is too much. In this perspective, we will examine the ethical implications of product manufacturing of Product Quality, Pricing, and Labeling and Packaging. With Product Quality, the responsibilities of a business are simple. Develop a low cost, high quality product that withstands the normal limitations of it’s use. Quality can be defined as doing the right thing, the right way, the first time, and every time. It is important that this is understood from both the consumer and the business perspective. In short, the product will meet customer expectations, priced appropriately, and delivers as advertised. Within the business, producing a product the right way is the most effective, efficient, lowest cost and most valuable way to produce quality results, the first, and every time. Furthermore, product quality implies that all standards are met, with minimal repercussions of poor quality, reducing the amount of rework and waste. As such, businesses who develop products of poor quality are either failing to do the right thing, or doing the right thing, the wrong way. In Case Study 6.3, H.B. Fullers products can be considered high quality, based on their status as a leading manufacturer of it’s products, and with it’s slew of awards and honors. Although child welfare advocates campaign for Fuller to revise their products by adding noxio... ... middle of paper ... ...Fuller to capitalize on it’s controversy and make use of human weaknesses to sell more of it’s product. From another view, an effective ethical solution can be to restrict the sale of it’s glue to people under the age of 18, or to sell it in larger packages, which would reduce sales to lower income people (children). The company can place limits on it’s advertising and exposure to young children, because we are aware that young children aren’t completely capable of making rational decisions, (I.E. to not get high off glue). Selling glue to a huffing addict is unethical, mostly because one addicted has no choice, but to buy glue. The addicted children do not make a rational decision to buy and misuse J.B. Fuller’s products, but the addiction itself, ensures the sale. Ethical pricing practices can help eliminate some of the buying potential of these children.
Mattel Corporation, known as the largest toy company in the world, is a publicly traded organization with a market capitalization of over $6.5 billion. Employing approximately 36,000 people worldwide in 43 countries, their products are well-known and sold in over 150 nations (Mattel.com). With such winning odds as mentioned, it is hard to imagine that a company readily known to children and adults across the globe would become even better known for the company that produced toys made with lead-based products. This assignment will discuss whether or not Mattel acted in an ethical and socially responsible manner in their decision to recall defective toys, what they perhaps could have done differently to avoid this issue, and the best way society can continue to protect children from potentially harmful toys.
Ferrell, O. C., Fraedrich, J., & Ferrell, L. (2011). Business ethics: Ethical decision making and cases: 2011 custom edition (8th ed.). Mason, OH: South-Western Cengage Learning.
Of the many possible ethical dilemmas that people could face in the business world, the article: “The ‘Do Whatever It Takes’ Attitude Gone Wrong” portrays particular ethical situations in todays business world that are very common: poor social responsibility and its negative effects. Social responsibility is considering what affects business decisions and products have on society. The article reveals what goes on behind the scenes at a business in terms of poor ethical decision making and how often it occurs. It mainly focuses on how business decisions are made without consideration
In my opinion, H.B. Fuller is not morally responsible for the addiction of street children to its Resistol products. A corporation is morally responsible only for those acts and their foreseen injurious effects: (a) which the corporation knowingly and freely performed or brought about and which it was morally wrong for the corporation to fail to perform or prevent and/or (b) which the person knowingly and freely failed to perform or prevent and which it was morally wrong for the corporation to fail to perform or prevent. Only two conditions completely eliminate a person's moral responsibility for causing a wrongful injury: (1) ignorance and (2) inability. I believe that H.B. Fuller isn't morally responsible because once it released its product, it had neither control nor knowledge of how its product were to be misused. When understanding the circumstances of why H.B. Fuller's product was abused, H.B. Fuller actually helped out the economic problem by providing employment for the region. No argument can be made that H.B. Fuller did not make attempts to abort the misuse of its product. There is a fine line, however, between whether H.B. Fuller was morally responsible and if it had a moral obligation to intervene to help the issue.
"Poverty is like punishment for a crime you didn't commit." World bank's projection suggest that global poverty may have reached 9.6 percent of global population. 22,000 children die each day due to conditions of poverty.Poverty impacts everything.It affects the way you live and the education you get. This then leads to how well the economy is where you live. The most influential issue in the book “The other Wes Moore” is poverty . All the events that occurred in the book are because of poverty.
For this assignment, I have decided to focus on what makes a good quality
Importance of ethics in the business world is superlative and global. New trends and issues arise on a daily basis which may create an important burden to organizations and end consumers. Nowadays, the need for proper ethical behavior within
The aim of this paper is to discuss the challenges of values-based decision-making ethics in the current marketplace. This discussion will include the research findings on the four markets for potential expansion and an assessment of the current social and political climate of each. A recommendation will offer three best fits based on a comparison of company values, and will include detailed rational for these choices.
Ferrell, O. C., Fraedrich, J., & Ferrell, L. (2013). Business ethics: Ethical decision making and cases: 2011 custom edition (9th ed.). Mason, OH: South-Western Cengage Learning.
Our week five case study, Mattel and Toy Safety, involves toy safety inspection and product recall concerns among outside contractors. In 2007, the infamous toy company, Mattel, recalled a very large number of toy products covered with lead-based paint that were manufactured in China. Mattel responded to the massive toy recall by increasing the testing of all products and reassuring its customers that they will take affirmative action to correct the recall issues as soon possible. In my opinion, I believe Mattel acted in a socially responsible and ethical manner regarding the safety of it toys because as soon as Mattel was aware of a European merchant finding lead paint on their toy products, Mattel conducted an immediate investigation.
Business ethics are the core fundamentals of a business and are extremely important for organizations smooth and successful operation. It can have either positive impact by operating ethically or negative impact if they are caught up in any unethical situation or dilemma. Ethics has been defined as “study and philosophy of human conduct with an emphasis in determining the right and wrong” (Ferrell et.al, 2010). This case study will analyze Coca Cola for the ethical dilemmas they were involved in Belgium, and how the company responded to the issues.
Ferrell, O. C., Fraedrich, J., & Ferrell, L. (2011). Business Ethics: Ethical Decision Making and Cases. Mason, Ohio: South-Western Cengage Learning.
We commonly view quality as a physical property of our product and therefore see our task as producing a product that meets these physical characteristics.
In today’s fast paced business world many managers face tough decisions when walking the thin line between what’s legal and what’s socially unacceptable. It is becoming more and more important for organisations to consider many more factors, especially ethically, other than maximising profits in order to be more competitive or even survive in today’s business arena. The first part of this essay will discuss managerial ethics[1] and the relevant concepts and theories that affect ethical decision making, such as the Utilitarian, Individualism, Moral rights approach theories, the social responsibility of organisations to stakeholders and their responses to social demands, with specific reference to a case study presenting an ethical dilemma[2], where Mobil halts product sales to a garage, forcing the garage owner to stop selling solvents to young people. The second section of this essay will focus on advice that should be given to any manager in a similar position to the garage owner with relevance to the organisational strategic management, the corporate objective and the evaluation of corporate social performance by measuring economic, legal, ethical and discretionary responsibilities. It will address whom to think of as stakeholders and why the different aspect could cost more than a manager or an organisation could have imagined.
Quality is a very important thing in an organization; therefore it is not possible to improve the quality of a product or service substantially without major changes in all aspects of the organization. Because quality is so important if changes aren’t made throughout the organization the output of the product will no be very successful. Everyone in the organization plays a major role in the out come of its products.