Sign Up Now
Get instant access to over 1 million+ study documents
OR
Already registered? click here to login
By creating your account, you agree to our terms of service, privacy policy and student honor code.
Ethical decisions that corporations must make are not always the least costly ones when it comes to fixing a problem. When a CEO is confronted with a choice of doing the ethical, customer-friendly decision, or saving money and shipping a product that is clearly not safe or in the best interest of children, there should be only one solution. That solution is to do the right thing: take the loss, bite the bullet, and pay for the fix so the product that is sent to the public is safe and fully represents the advertising that was designed to entice customers in the first place.
Memo to the Toy Company CEO: Background on Ethics and Toys
In the case of the toy whistles that have more lead than is safe for human health, it is absolutely imperative that the toys that are sent out meet the strictest standards for safety. This is vital to remember not just for the safety of children who may be harmed by excessive amounts of lead; doing the ethical thing is vital for the image of the corporation. The negative publicity from an incident in which a child gets sick because a product was not safe would be devastating and would ultimately harm the bottom line perhaps more than paying $100,000 to replace the flawed toys.
Two Strategies to Ensure Ethical...
The man most closely identified with Utilitarianism is John Stuart Mill, and his rule in terms of ethical decision-making is to do "…what provides the greatest good to the greatest number of people" (University of Illinois at Chicago). And in this case, the greatest number of people will be all the children in South America that will be overjoyed to receive this toy but may be harmed if the toy is not safe for human health.
A second strategy to ensure ethics is part of decision-making at your company is to have monthly meetings for employees (all employees attend these 30-minute meetings in small groups) during which ethical issues are presented. At Levi Strauss Corporation the corporate culture is very conscientious about ethics because when an employee witnesses an unethical act on the part of any employee it is that witness's duty to report the violation of ethics. Promotions are given based on reporting unethical acts, and that is another possible strategy that would go along with updating all employees monthly on what is ethical and what is unethical.
The Company could benefit…
Works Cited
AT&T. (2011). Corporate Governance / AT&T Inc. Code of Ethics. Retrieved July 24, 2013,
From http://www.att.com.
University of Illinois at Chicago. (2001). Business Ethics. Retrieved July 24, 2013, from http://www.uic.edu.
Ethical Decision Making Kimberly Gas Hub ETHICAL DECISION MAKING IN KIMBERLEY GAS HUB The Kimberley Gas Hub is a controversial project to set up an LNG refinery facility at James Price Point near the Kimberley coast of Western Australia. The company Woodside is interested in setting up the project and it claims that it will boost the mining industry in the region and will bring economic development for the local people. Critics
Ethical Decision Making New Year's Eve Crisis The ethical issues related here include the financial health of both Michael's Pasta Company (which now includes Southern Pasta) and of the restaurant chain affected by the tainted products, and the physical health of restaurant patrons. Other ethical issues such as simple honesty and business integrity are also involved in the case details, though they do not really affect the decision to be made. Stakeholders include
ethical decisions in business is great. There are many instances where ethical decisions are necessary in business operations, and corporations can get themselves into trouble even when they are trying to be ethical if they do not have a strong and effective procedural structure to guide employees in making such decisions. One aspect of ethical decision making comes under the heading of crisis management as corporations are faced with
Com. N.D.). In choosing to dismiss the CEO the Board can create a significantly better situation for stakeholders than if they retained his services. Aggrieved customers can experience a feeling of closure over the event, and will be satisfied that the company is taking action by letting go the CEO. Flyers in general will recognize the move as the first step in cleaning house, and a wake-up call to the airline
This step entails communicating the decision to the concerned person or parties along with the penalties. This step also entails communicating the future course of action to concerned parties. Close the case- the big errors that companies frequently make is that at times they let the case hang around on without any accomplishment on it. An imperative part of ethical decision making is to close the case by taking action
The Price of Doing Good: Consequences of Ethical Decision MakingIn their day-to-day lives, people encounter a wide range of ethical and moral problems � which do not necessarily have straightforward solutions. As a matter of fact, there are ethical dilemmas which present complicated challenges for the decision maker. During ethical dilemmas, there is need to to establish ideal solutions that are firmly rooted in various ethical theories and sound moral