Outsourcing the rest of the production will create more jobs in an undeveloped country as well as save money for Garland Chocolates. Disadvantages Even though you save money on the equipment, you have to consider the risks. By outsourcing half of the work the company is now risking the quality of the candy. Outsourcing to the wrong area can decrease product quality which can result in a decrease in the brand image. Recommendation: Alternative 1: The best solution for Garland Chocolates is to invest in the new equipment.
B. Virtue Ethics’ Reasoning behind objection As the company executives, it is easier for them to make their own profits. But according to the virtue ethics, the company should be holism and the top managers should be honest to their employees and customers. It is the only way to make company go further. As a big company, Enron should take responsible and control its greed. The goal for a company to win in the market is not only just make short term profits, but also need to stand in the ethical way to think for the public.
In the movie titled “The Pursuit of Happyness”, there was a problematic family living in San Francisco in 1981. The main character, Chris Gardner worked as a salesman invested his entire life savings in portable bone density scanner to support his family including his wife Linda and a five years old son Christopher. However, Chris’ business is not doing well and his wife was forced to work. Day after day, Linda was suffering and she always quarrelled with Chris and blamed him didn’t play the role as a responsible father and a good husband. Luckily, this was not the end for Chris.
My primary ethical principle that I most practice is justice as fairness. I think that in everything a manager does they should be fair and everything they do should be executed with the utmost of justice as well as fairness. The pros of my ethical principle are that the employees come out ahead if something goes awry within the company. If a company I ran were to hit a financial crisis due to something that an executive in my company made, I would have to choose the fairest thing to do for not only that executive employee that made the said decision, but the fairest decision for all employees within the company. My primary ethical principle would create a balance in a state of crisis and establish the company’s values to the employees by not only what is written in them but also by the company’s actions.
The authors comment that franchising might lead to a higher customer satisfaction level irrespective of the metric and the reason being that franchisor usually has better control of the day to day operations in a franchisee. Any deviance from the normal and accepted service level is dutifully noted and corrective actions are taken. The business psyche sees a franchise owner as a vital part of the organization and rather an extension of the organization. On the other hand, licensing of IPRs usually makes for a not so up to the mark customer experience. The reason is that licensors and licensees lack interaction to improvise and augment the customer experience.
It is important to define and acknowledge the value of human capital, find ways to accurately measure it, and to make ensure the investment of human capital. Some organizations that fail to invest heavily in human assets will still be financially successful because they have a product that will sell no matter what, or they were lucky with their marketing strategies. It is quite possible that they only have a few employees, and those few may be what is ensuring the success and financial stability of the organization. Other organizations that do invest heavily in human assets may be financially unsuccessful because humans are unpredictable and there is no guarantee that because you invest, that there will be a return. This is why it is important to calculate the value of employees; they are the biggest asset, yet also the biggest
Moral hierarchical culture has gotten developing enthusiasm for business ethics investigate. It has been perceived that other than 'taking care of business', it is additionally vital how it completes and that esteeming moral practices can be a critical advantage for the association. It is likewise imperative to recognize that even great workers can settle on dishonest decisions if their condition does not underline moral values and weights them to satisfy here and now monetary objectives at any cost (Ethics Resource Center 2010). At the point when moral values and practices are executed in the association, representatives feel connected with and focused on the association, and they feel less weight to bargain the association's benchmarks (Ethics
(ii) The capability perspective treats organizational capacity as the ability to absorb, mobilize resources, specify ways for capacity to be utilized and transform input for outputs (Honadle 1981;Teece Pisano et al. 1997; Ingraham, Joyce et al. 2003; Helfat, Fredrickson 2007; Harvey, Skelcher et al.2010). (iii) The competency perspective understands organizational capacity as organizational effectiveness and performance (Ingraham, Joyce et al. 2003; Bryson 2004; Sowa, Selden et al.
Employees: Employees can be acted towards ethically by organizations, by creating an occupational structure that fairly and equitably rewards them for their valuable contributions, health and safety at work, security, fair play. Shareholders: When operating ethically shareholders would like to maximise their return on investment. They would likewise need to guarantee that supervisors are behaving ethically and not risking investors’ capital by engaging in actions that could hurt the company’s reputation. Shareholder’s may not be happier as the return on investments would be lower when a business attends to operate ethically but it is possible to persuade them by clarifying the long haul results of the business. Customers: They are the most critical stakeholder for a business.
In the modern economy, businesses are encouraged to compete in pursuit of profit. They would be providing goods and services that a society demands, and then they get compensated for their efforts, therefore there is nothing evil or shameful in pursuing profit, as long as it is within the boundaries of the law. Advertising is tool that is required for the business process to carry on, by communicating the right products to the right customers. Since the marketplace is only getting fiercer every year and products are getting commoditized, marketers are finding it difficult to compete, so sometimes they resort to using deceptive methods to market their offerings. Kantian Ethics: From a Kantian perspective, businesses have the duty to provide goods and services that meets the needs of customers.