...To what extent are ethical theories helpful when considering ethical business practice? Generally, the term business ethics consists of ensuring businesses, whether they are in the private or in the public sector, adhere to ethical guidelines. Not all businesses are the same although have similar objectives which result in business ethics being diverse. These ethics do not only just relate to how businesses relate to the world, but moreover with the relationship between them and their customers. In order for a business to become a good business, they must be ethical, however there are several aspects to consider. There are many global businesses in which ethics are not seen to be important as their main goal is to ensure profit is made. Some have been fined millions for breaking ethical business laws, e.g. Child labour, however the incentives coming into the business (billions) outweighs their fines. Ethical theories can be a way in which businesses can take on board the whole concept of ethics and put it into practice. Natural Law emphasises on the purpose of the person. Aquinas looks at what is good for humans, saying that humans share part of their nature with all natural things, parts with animals, and part of our man nature is particular to us. This means Aquinas would not accept exploitation of humans, animals and nature. Business is instrumental and most serve the common good. For Aquinas economic transactions, as human interaction, cannot be separated from ethics...
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...January 1, 2012 8:52 PM Chapter 44 Lecture Note # 1 by Spring Walton Note edited by Spring Walton on 01/03/2012 08:07PM Chapter 44 Consumer Protection I. Introduction Consumer law issues include those of contracts (including UCC sales), torts, crimes, and product liability, often acting as a backup to the failures and shortcomings of those other areas of the law. All of them provide some measure of consumer protection, yet none stand alone as being complete. They are interdependent and, as such, students must be aware of the big picture of consumer protection. This chapter covers the fourth major set of venues within a quadripartite of remedies available to a wronged or injured consumer. First, there is criminal law. Victims of consumer fraud and similar offenses have always been able to seek state-supported sanctions against wrongdoers. This venue may provide some ephemeral satisfaction for the victim and may even, at least temporarily, protect society from further harm. But criminal law does not truly make the victim whole. As a matter of fact, most of the miscreants convicted of consumer fraud are also judgment proof, i.e., they have no assets from which civil judgments can be satisfied. The second area of consumer protection is found in tort law and the permutations of intentional tort, negligence tort, and strict liability. These remedies can and do provide meaningful substance to civil correction of wrongdoing...
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...Ethical Business Practices Lead to Labor Union Free Organizations UMUC October 30, 2011 The headlines read, “Wal-Mart greenwashing: Workers pay the price”. This articles discusses how Wal-Mart advertises that their Love, Earth jewelry line is made in conditions that favor workers and the environment, when in all actuality the metal comes from mines that are not environmentally friendly, the product is not gold its anatomy is greenwash, and the workers receive insufficient pay, strip searches are conduct upon exiting the building, discouraged from attending night school because it interferes with work, and work in very un-sanitized conditions. The unethical treatments don’t stop there, the supervisors contently looks over the shoulders of the employees to ensure they are constantly working and not stealing any of the materials (Miami NewTimes, 2011). Then again on the internet we read, “Countrywide Financial faces unethical business practices prosecution. The article goes on to talk about how Countrywide is accused of using misleading marketing to sell mortgages packed with hidden fees and risky terms to dominate the US home loans industry. They used unfair and deceptive lending practices to steer borrowers into loans that they could not afford. They did this by putting borrowers in homes they could not afford by exaggerating their income. Since the managers of Countrywide decided to make unethical business decisions over 35% of the mortgage loans approved were in default. Their...
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...Consumer Protection Act 1986: After liberalization of economic policy, consumer goods have flooded the market as never before. Both foreign and India companies are introducing new products and brands with glossy and fancy packing as the middle and lower income groups are taking loans to-Companies still do not pay attention to the quality of their products and also do not value customer satisfaction. Very often a customer may get taken in by a misleading advertisement making tall claim as to the high quality and after-sales service. The consumer may discover later that the goods purchased by him are not up to the claims made by the manufacturer. Companies are not willing to invest in efficient after-sales service so long as their sales keep increasing. Newspaper columns can be seen to be full of complaints and many companies do not care to rectify the complaints. To enable the consumer to have his right to a deal, the consumer protection Act was passed in 1986. The Act promises to rectify all that and make accountant both the manufacture; s and providers of service. It provides for toe setting up of quasi-judicial bodies at district, state and national label for quick and inexpensive redressal of consumer grievances. Three groups-the consumer, registered voluntary consumer associations and the central and state government is covered by this facility. In case a group of person is seeking similar redressal, a class action suit can be filed or may be treated as a public interest petition...
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...document be utilized, and the impact to the organization should the illegal act is found out. Also consider if this is a test of honesty for you – if you would accept to do the task. 4. Alternative Course of Action The alternative course of action is simply not to utilize the information. 5. Recommendation Competitors data obtained in an unethical manner, at worse illegally, is punishable by corporate laws. The recommended action is not to use the information. In most multinational companies a corporate compliance virtue is formed into each employee, wherein each decision made must be in accordance to what is legally right. Corporations with no established corporate virtue, had been fined, and at worst closed down due to unfair business practices. Sustainability of action should be kept as a core competency, wherein action taken at the moment should be beneficial to the organization in the long run. Short term advances are not worth the long term crisis...
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...country, they will look at the political stability of the country which will determine whether they open the store or not. Great Ormond Street is also affected by political stability. If the country has good stability, Great Ormond Street will be able to get funding for their charity and hospital. Also if the country is stable, people will have more money to donate to GOSH. If the country is unstable, it will affect the decisions that the charity makes. Government support Government support means the way the government helps out the community by giving their support in order to help others. Things such as funding come from the government to help businesses grow. Tesco isn’t really helped out by the government as it is a well-recognised business that has established itself to become one of the most successful food stores in the UK and the world. The government will hardly ever fund Tesco as they are a multi-billion pound company. The government tend to only help Tesco out with planning permission for new stores. When Tesco want to open a new store it has to go through the government...
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...accounting firm, Ernst and Young, were hired to audit code compliance by making spot checks at Nike factories. In that audit was information concerning Nike factory conditions and how the workers were being mistreated. The audit claimed that Nike workers in Southeast Asia were exposed to toxic chemicals, subjected to physical, verbal, and sexual abuse, forced to work an illegal excess overtime at minimum wage, and suffered poor hygiene. Nike, trying to save their company spent many years claiming that these accusations were false. However, when people compared claims from Nike to the audit, they found some of the details to be inaccurate and/or misleading. Marc Kasky, a California resident and activist, sued Nike for unfair and deceptive practices under California's Unfair Competition Law. Kasky alleged that Nike made "false statements and/or material omissions of fact" concerning the working conditions under which its products are manufactured. Nike filed a demurrer, contending that Kasky's suit was absolutely prohibited by the First Amendment. The California Supreme Court dismissed the case as “improvidently granted.” However, late in 2003 Kasky and Nike announced a settlement. In return for Kasky dropping the case, Nike agreed to give $1.5 million to an industry-friendly factory monitoring group. Analysis Kasky, in my opinion, was correct and had good intentions when he sued Nike. He wasn’t in it for the money, instead he believed in human rights and he advocated for change...
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...selling goods. Consumers are allowed to return product if it does not match the description or is damaged. This act makes it compulsory for the organisation to describe its products accurately. For example If Nike sells a plastic equipment (squash racquet) by describing it as an titanium alloy. Consumer protection (distance selling) regulations 2000: This applies when a business sells goods online or by any other distance, such as text messaging, phone calls and internet etc. So it is compulsory for the business to follow this law which states that, product when sold must be in a good working condition, consumer should be provided with prior information, making sure that the details are clear like payment and delivery information. A consumer also has the right to cancel and refuse to except the product if they think it’s faulty or not in a good working condition. If someone has ordered a product of Nike online, then it’s the responsibility of the business to provide payment and delivery information as well as making sure the product is not damaged. Pressure Groups: It’s a group of people who think the business is not functioning the way it should and it puts the pressure on them to change their techniques. Example If McDonalds starts pollute the air then pressure groups can enforce their power for McDonalds to change their ways. Some pressure groups are Friends of the Earth and Greenpeace. Consumerism: This act gives the authority to the customer to check anything they want...
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...Concept of the Federal Trade Commission Concept of the Federal Trade Commission Kenneth Hunter Grantham University Abstract What is the concept of the federal trade commission? How do they help us in our everyday economic planning? Is the federal trade commission the reason for businesses being more customer orientated? Can this will design federal government section keep big businesses in check or will small business be left for the taking. How is the federal trade commission broken to oversee the companies and how these laws are being kept? Why is this so important to the American people? This section of the American is like the godfather of business protection and keeper of guidelines. This area is cornerstone of ensuring a balance to the business world as we know today. You have to ask yourself without them would the economic be safe? Current Mission Let’s take a look at the current mission of the Federal Trade Commission as we know today. As a consumer or business person, you may be more familiar with the work of the Federal Trade Commission than you think. The FTC deals with issues that touch the economic life of every American. It is the only federal agency with both consumer protection and competition jurisdiction in broad sectors of the economy. The FTC pursues vigorous and effective law enforcement; advances consumers’ interests by sharing its expertise with federal and state legislatures and U.S. and international government agencies; develops...
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...The Macroenvironment factors are external and uncontrollable factors that influence the company’s decision making and affect its performances and strategies. Therefore, we are going to look for the major trends for each macroenvironment factor and measure the impact on the success of our product. Demographic forces: In terms of demographic, increasing population has an effect on the demand of our products. Recently, between 2008 and 2012, Canada’s population grew at an average annual rate of approximately 1.00%, mainly from the strong immigration, and it is also estimated that the population will exceed 39 million by 2031. This steady increase in population will directly enlarge the consumer groups, which will increase the demand of all kinds of product as well as our four season shoes in current market. Also, population aging does a great impact on the sale of our products. By 2010, Generation X who was born between 1967 and 1976 is served as the primary market. They respond to socially responsible companies that aim to maintain the balance between the economy and the ecosystem, which means such eco-friendly products as our four season shoes will cater to their tastes. Technological forces : One major trend in the technological environment has been the creation of the 3D printer. Many shoe companies are now looking into making both non-customized, mass produced shoes, as well as shoes that are customized for each customer. Two examples are Nike and New Balance; both companies...
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...Law relating to unfair trade practices Definition: An unfair trade practice means a trade practice, which, for the purpose of promoting any sale, use or supply of any goods or services, adopts unfair method, or unfair or deceptive practice. Unfair practices may be categorised as under: 1. FALSE REPRESENTATION The practice of making any oral or written statement or representation which: * Falsely suggests that the goods are of a particular standard quality, quantity, grade, composition, style or model; * Falsely suggests that the services are of a particular standard, quantity or grade; * Falsely suggests any re-built, second-hand renovated, reconditioned or old goods as new goods; * Represents that the goods or services have sponsorship, approval, performance, characteristics, accessories, uses or benefits which they do not have; * Represents that the seller or the supplier has a sponsorship or approval or affiliation which he does not have; * Makes a false or misleading representation concerning the need for, or the usefulness of, any goods or services; * Gives any warranty or guarantee of the performance, efficacy or length of life of the goods, that is not based on an adequate or proper test; * Makes to the public a representation in the form that purports to be- * *# a warranty or guarantee of the goods or services, a promise to replace, maintain or repair the goods until it has achieved a specified result, if such...
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...P2: describe the limitations and constraints of marketing Sales of goods act 1979 The sales of goods act 1979 states that goods sold by a company or business must be as described, of a satisfactory quality and fit for purpose. This means that goods that have been advertised must be exactly the same as the advertisement, not damaged or broken on sale and also completes the task it was made to do. For example if you were to advertise a computer it has to work properly and have everything as described in the advertisement. The merchandise will have a return policy to return any products to collect a refund or trade it for another and this would usually be around 30 days. Should company’s hire purchase equipment but find it is faulty this is not included in the sales of goods act 1979 but instead any hire purchase equipment falls under the supply of goods implied terms act 1973. Should the product you bought not fall under any of these factors then the company who sold it to you is in breach of the sales of goods act and you could claim under this act. For the NMM this could cause problems should the merchandise be broken or damaged because they bought it from the manufacturer which therefore is then held liable. If the NMM had a breach in the sales of goods act 1979 then this could have a big effect on their future business as people would be put off buying merchandise from them which would therefore lead to a decrease in profit from the products and potentially a big cost for...
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...Prof. Perkins ENGL 151-01 14 September 2015 Thesis: “The only thing that makes life unfair is the delusion that it should be fair.” –Steve Maraboli “Life is fair because it is unfair to everybody.” I. It is impossible to avoid unfairness; it forces us to want a better yesterday for ourselves, our kind, and our future. a. If it weren’t for experiences with unfairness we would all see the world from content eyes and our everyday lives would be irrevocably selfish. b. The definition of unfair says not fair; not conforming to approved standards, as of justice, honesty, or ethics. c. To find true happiness we have to first understand unfairness and all its glory. II. Unfairness comes in many forms ranging all the way from economically to physically. a. People will judge others based on a tattoo they have, or the shorts they’re wearing. b. Bad things happen to good people, and good people deserve good things. c. Unfairness in the simplest of ways can often times be nothing but an illusion. III. Is the idea of unfairness stressed too much or overlooked? a. What does unfairness mean to you? b. How has unfairness evolved over time? c. One experience of unfairness regarding me could give a valuable lesson to you. IV. It is when we understand unfairness that change starts to happen. a. When treated unfairly we tend to eventually learn from it and grow. b. How do we change unfairness into something we prefer? c....
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...Competitive Business Practices Empress Crenshaw Devry University The United States has several laws that are intended to further fair, balance, and competitive business practices. Do you think that such laws are effective? When climbing up the ladder to successfully own a successful business the drive that one has to succeed is strong. We drive up ideas and plans that will up do and outshine any competition that may stand in the way of success. The key to climbing to the top of market and taking out the competition is by standing within the guidelines, rules, and regulation of the law. The Federal Trade Commissions also known as the FTC are the ones responsible and in charge of upholding and enforcing fair business practices that essential protect those entering in the free market. According to the FTC website the Unfair Business Practice Act was passed by Congress in 1914 and has since been amended multiple times to protect consumers and business from unfair practices and unfair competition. (Unfair and Deceptive Practices) These laws ensure and protect consumers ensuring that businesses don't push out their competition with unfair practices such as false advertisement or shooting up the price of goods. The main two categories these unfair competitive business laws fall within and protect these businesses from being taken advantage of in such a competitive market would be pricing laws and advertising laws. Protecting Business from Unfair Pricing Practices...
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...Anti Nepotism Is It Fair or Unfair Practice My short essay is about whether or not Anti-Nepotism is fair and morally unethical. The definition of nepotism stems from the Latin root word "Nephews" or "of family", to practice showing favoritism to family, close relatives, and advancing unqualified or under qualified family based on the family relationship. I really feel that this can be an unfair and unethical practice in ways that can violate a person's civil rights and this can be that loop hole to get away with it. The United States has the most lenient rules when it comes to nepotism, while Western society’s nepotism raises legal concerns. In many organizations there are family members who work for the same organization, whether they are directly supervised or at another branch which can contribute to conflict. I feel that when family members work to close together personal conflicts can interrupt business practices, jealousy of family members can even cause a company's demise. I feel that the family members will always get preferential treatment in hiring because they have someone on the inside, promotions will go through the normal legal process but in the end the family member will get the job, if there is a mistake that happened the punishment will not be as greater if another co-worker commits it. It is known that many companies are family owned and even successful, but at the same time when family members become of age to work, I believe the family member will...
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