Ethics Case Study: Monsanto's Code Of Ethics

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Case Study #1 Case 1: In the past, Monsanto has had many ethical issues like high performance standards that can cause employees to make unethical and illegal decisions and not owning up to hazards around them. However, Monsanto has been striving to enforce their code of ethics and has spent more time trying to become more socially responsible to the environment. For Monsanto to create an ethical culture, he would have to be proactive in anticipating, planning and acting to avoid potential ethical crisis’ (Thorne, Ferrell, & Ferrell, 2008). New regulations, an enforced code of ethics and striving to be more socially responsible has led Monsanto to enhance their relationships with stakeholders. Monsanto wrote a pledge to inform all of their…show more content…
For example, the HIPAA privacy case in 2009; CVS was accused of improperly disposing of customer information that resulted in a decrease of trust that customers had in the company. In response, CVS paid out $2.25 million in a settlement, as well as enacting a corrective action plan to make sure all employees knew how to properly dispose of important customer health information. CVS also signed a consent order to develop a more secure way of collecting information from customers. The proactive approach could easily increase CVS customers trust again. CVS faced a deceptive business practice suit in which they paid out a settlement of $38.5 million and a decree of consent without admitting fault. This was important because although CVS did not admit fault, they did pay a settlement, which would show the stakeholders that some subjects, the company is willing to sweep under the rug. CVS’s reactive approach to this situation could again disappoint its customers and decrease trust. CVS denied responsibility and did less than what would be considered required (Thorne, Ferrell, & Ferrell,…show more content…
I found that luckily there more strengths than weaknesses. Belle Meade is a unique business in that they are a historical experience that can’t be found or experienced in most places. Although, they might have competition in Tennessee, plantations like theirs are not to be found everywhere. The business has also seen great success over a long period of time until now. Another strength for Belle Meade is the community values non-profit over profit and always will, they have a strong history and many opportunities for business available. For example, if Belle Meade could make an agreement with the local school they could have a constant income of ticket sales for schools to come for trips and have an educational experience. Although I found that Belle Meade had more strengths than weaknesses, there were a few that I could find. Like mentioned in the article, there is a possibility that other plantations will follow and copy anything that do. When they came out with a strategy, it would have to be something that is unique to Belle Meade so that it couldn’t be directly copied. Another weakness is that long-term funding is hard to come by unfortunately for non-profits. Belle Meade has an unestablished restaurant, another weakness to their
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