Business Ethics Table of Contents Introduction 3 Thesis Statement 3 Explanation to the Case at Hand 4 Theoretical Explanation 5 Utilitarianism and the Principle of Utility 5 Deontology or Dignity of Persons Principle 5 Virtue and the Right Formation of Character 6 Theoretical Justification and Identified Consequences 6 Conclusion 8 Works Cited 9 Introduction With the increasing pace of development, organizations seek to evaluate a widespread structure of various operations…
However, the objective towards attaining significant development in the code of conducts gives rise to several challenges regarding an effective practice of business ethics within the organizational framework (DeGeorge 9). Thesis Statement This essay intends to evaluate the case of Electrocorp, a computer component manufacturing company allied with the automobile industry identifying moral issues in relation to the case at hand. Explanation to the Case at Hand Electrocorp is an US based electronic products manufacturing company that serves with computer components for automobiles. According to the case it has been observed that the organization is facing a continuous decline in terms of its profits due to an increasing rate for costs incurred during the production due to increasing rate of raw materials, labor payrolls as well as expensive process of disposal facilities. Moreover, the environmental regulations that the plant maintains also requires higher amount of investments in its various safety procedures. In order to mitigate these consequences, the organization intends to relocate its manufacturing units in developing nations with the advantages of lower wage rates and availability of cheaper raw materials along with minimized cost for maintenance and flexible legal implications. Hence, the organization has been concentrating on Mexico, Philippines and South Africa as the most prospective regions to support the organizational objectives (Musalo, “The Case of the Plant Location”). In the context of the case analysis, it can be considered that the organization might have to face certain dilemmas in yielding greater profitability through augmented production capacity but reduced production cost, relocating its firm in developing countries serving with the advantages of low labor costs, cheaper raw materials and comparatively flexible legal barriers. For instance, according to the case scenario, the decision of relocating its manufacturing plants to other country can be profitable for Electrocorp to earn a greater profit margin, where the decision might give rise to various ethical issues in terms of job loss of the US laborers along with exploitation of resources served by the developing nation, i.e. the intended location to set-up the new plant. Theoretical Explanation Utilitarianism and the Principle of Utility The theory of Utilitarianism can be considered as an ethical normative theory. It is one of the well-known as well as widespread forms of consequentialism, where a range of moral theories that state the suitability or unsuitability of few described actions, are studied. The philosophy behind the theory of utilitarianism states that it is a moral worth of a specific action that can be determined by its resulting consequences (National University of Ireland Galway, “Business Ethic: Utilitarianism”). According to Mill’s theory of principles of utility, combined with the theory of Utilitarianism, states that actions which tend to augment happiness and positive thinking amid individuals are good; whereas, the acts which impose pain and suffering to individuals owing to the influences of naturalistic fallacy shall be considered as bad (Mill 81). Deontology or Dignity of Persons Principle Dignity of ...
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(Business Ethics Term Paper Example | Topics and Well Written Essays - 1250 Words - 1)
“Business Ethics Term Paper Example | Topics and Well Written Essays - 1250 Words - 1”, n.d. https://studentshare.net/other/12193-business-ethics.
1.b Monopoly In a Monopoly market, the number of seller is one, and they produce unique goods having no competitors in the market and in this type of market the entry for the other parties or sellers is totally restricted (Velasquez, G.M., “Business Ethics: Concepts and Cases”: 167).
Discrimination is forbidden by the Equal Employment Opportunities Commission (EEOC), the Age Discrimination in Employment Act (ADEA), and the Americans with Disabilities Act (ADA). These employment laws have led to considerable litigation against companies for failing to comply with their language.
It is a corporation with many subsidiaries in different countries across the world. Arguably, this company serves more than 2.5 million organizations and 26 million residents in Canada and the United States. The company recycles the waste products and also uses it to generate energy (Waste Management 1).
If the issues are true and valid, then I would move to the next step of approaching the management and informing them about the issue at hand. From that point, we can try to negotiate a way that will be most viable in dealing with the situation. The relevant pressure includes the fact that the item of discussion is the main income earner for the company.
Therefore, before doing anything that might be beneficial to you, one must also consider if the act will benefit others also or infringes others’ rights. Therefore, according to the product defect information, as a new employee in this company,
the need to incorporate a more comprehensive ethics training program for organizations that are committed to adhering to ethical, moral and legal standards of operating their businesses. As disclosed, Bucaro (2012) enumerated three minimum requirements that an ethics training
This research will begin with the statement that contemporary management issues can be understood from the standpoint of business ethics and learning organization theory. Business ethics concept has been used by many academic scholars to distinguish between successful and unsuccessful organizations.