As a result, consumers in capitalist market or the society as a whole would be exposed to products that are unsafe and harmful such as defective goods. The product quality and safety may not up to standards as they do not find it sufficiently profitable to exercise due care. In the case of MacPherson v Buick Motor Car, the doctrine of privity that required a contractual relationship between plaintiff and defendant was removed. As a result of court’s decision, plaintiff consumers are able to sue and recover damages arisen from the manufacturer of a defective good. Next, doctrine of strict product liability holds manufacturer to be responsible for damages resulting from any product’s
Scammers are always an issue and there are a lot of dishonest people out there trying to take advantage of those that are unaware. However, for professional salespeople, I think ethics do not get in the way of success in sales. I think it is the opposite, ethical behavior builds trust and is a requirement to be successful in the long term for salespeople. Their reputation and livelihoods depend on the relationships they build with their customers and their reliability to their organization. Salespeople who act unethically risk their company’s business, their jobs and careers, and possible legal consequences.
Ethical dilemmas are made in diverse shapes and structures. Inside of the Mercury Energy and Folole Muliaga case, the ethical decision making from the Mercury Energy spokesperson instigated unwelcomed consequences for the company and for the Muliaga family. Surveying the outcomes encompassing the contractor turning off Mrs. Muliaga power was quite thought provoking, giving her condition. Yet, it 's common for an individual to discover him or herself conferring an unexpected untrustworthy act. For instance, the contractor for Mercury Energy was enacting the policy and procedures set forth by his company.
Friedman went on to argue that for a business to take money from their profits to fund corporate social responsibility projects is equivalent to stealing money from shareholders and is therefore unethical. From a utilitarian perspective, the ‘greater good’ may be believed to be the greatest amount of profit, potentially leading to a ruthless attempt to maximise income. This could come in the form of using cheap labour to be able to create maximum profit for the shareholders – and, furthermore, could end up blatantly disregarding human rights. This is a major issue of utilitarianism – basing ethical decisions on goodness for the greatest number of people allows for a
He gives us some assumptions and examples of their potential results and impacts on corporations to express his ideas clearly. In addition, he makes comparisons between being an individual and an executive and mentions the sharp differences between their responsibilities. The writer’s purpose is making it distinguishable and understandable for readers if there is a reality of the doctrine of the social responsibility for business. He aims to show
In this Enron Scandal ,several moral issues and values are being discussed .The moral issues is the misconduct of code of ethics by management level of a corporation , violation of code of professional ,ethical dilemma that faced by a management level when involved own interest . The first moral issues that discussed in Enron Scandal is misconduct code of ethics by management level of a corporation .In this case ,the mastermind of this scandal is the company CEO , Mr . Kenneth Lay, Mr. Jeffrey Skilling and the company CFO,Mr. Andrew Fastow .The management level of Enron Corporation had misconduct the code of ethics and fail to performing the duties of a corporation which is telling the truth of the situation of a corporation .Instead , they tried try to hide the truth of their financial status and create a false prosperity situation and make the public believe on them in order to support their shares prices . The misconduct of code of ethics by the management level by Enron corporation has led to the another question – The ultimate responsibility of a corporation towards society ?
There are some pros to globalization as Mike Collins states that, "supporters of globalization argue that it has the potential to make this world a better place to live in and solve some of the deep-seated problems like unemployment and poverty." (Collins, 2015) But then continues with some points that seem more valid to me, "The general complaint about globalization is that it has made the rich richer while making the non-rich poorer"(Collins, 2015) and "Globalization is deindustrializing America as we continue to outsource both manufacturing blue collar and white collar jobs. "(Collins, 2015) Because we are in a whirlwind of globalization we loosing jobs ourselves. In the perspective of third world's countries, it is shown to give many opportunities for employment, but what large corporations won't tell you is that they are exploiting the smaller less industrialized and causing havoc and damage to them. For instance, China's pollution rate is
If other companies that did not have the image of the company resting on an individual’s reputation had the same occurrence from a CEO or business leader, the brand equity would not have as much of a probability to suffer. Conclusion The insider trading scandal with Martha Stewart represents an important example of the risk associated with branding a company with an individual. As soon as the company brands themselves under an individual’s name, the corporation has the risk of rising or falling in profits based on the reputation and the ethical implications of the individual. Businesses should exercise care with branding a company on an individual and avoid it as much as
They purposely disobeyed U.S. laws and betrayed their customers as if they are above the law and entitled to whatever they want to do. They knew the consequences of their actions and what surprises me is that such a successful company, a role model in the automotive industry, would engage in such ethical behavior. Was the profits they were making not enough? Because according to the statistics, they are the largest automaker by sales. You would think that such a well-known business would prioritize ethics in order to differentiate themselves from other corrupt companies.
Analysis of leadership role in influencing employees’ ethical and unethical behavior, A Case study of Bernard Ebbers (Ex - CEO WorldCom) Written By Oluwakemi Annafi Kidus G. Mehalu and Addis Ababa (2011) defined ethics as concerning itself with human conduct or activity that is done knowingly or consciously and does have applicability to organizational life. Organizations as entities do not make decisions; individuals acting in the interests of the organizations do, this fact is buttress by Erondu et al (2004), he pointed out that ethics focuses on the standards by which a human action can be judged good or bad. Further explanations on ethical behavior, impact and implications shall be discussed in the analysis of the case study questions
Another way to reform globalization is for the government not demoralize other values for materialistic values. For example many corporations contribute to materialism by their worldwide advertising and also the crooked high profits to the social cost and
However, the degree of leverage the wealthy truly have against the majority is a point of criticism. Many assume supermajority rules ensure the prohibition of results that severely damage people’s interest (Beitz 65). However, this argument presumes equal electoral engagement, and the effect of income inequality on this engagement is under considerable debate. Some theorists believe that the deep cleavage of inequality suppresses political engagement, especially amongst the poorest of society (Dahl 85-86). Other political scientists argue that greater inequality results in more political engagement (Brady).