...philosophy. These ethics are learned through friends, family, and formal education. However, moral philosophy can be influenced by business and corporate culture. This is why it is important for all of society that business and corporate leaders understand and manage their firms with the highest ethical respect possible. It is the social responsibility of these companies to be aware that they are accountable for their actions and what they may or may not do can echo an eternity into the world’s future. In 1972, Ford Motor Company released the Ford Pinto, a small cheap car that could financially compete with the new economic cars from Asia. The Ford Pinto got a lot of attention because it was the first American made car to rival the Asia automobiles. However, the Pinto had a design flaw in that the position of the fuel tank was poorly placed and as a result was highly susceptible to car fires. This flaw was recognized by ford but was deemed an economic step backwards. If the production to fix the flaw was put in place, it would raise the overall price of the car. Thus, making the car less attractive to potential buyer. Ford decided to push the car despite the recognition of the fatal flaw. To make this decision Ford ultimately broke it down in terms of money. Ford determined that to go back and fix the design flaw to would cost $137 million as oppose to $49.5 million for those who will lose their life because of the design flaw in the Ford Pinto. (bizcovering) What Ford did in the...
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...The Case of the Ford Pinto By James Abstract Product harm crisis can be defined as a sudden break in a product’s life cycle (Siomkos, G.J and Kurzbard. J. 1994). In 1971 the Ford Motor Company created a product harm crisis with the introduction of the Ford Pinto. The Ford Pinto is known to be one of the most dangerous vehicles ever produced in automotive history due to several serious design flaws. This paper will identify the factors that contributed to the product harm crisis, compare and contrast the findings of various studies on a product harm crisis and finally synthesis the research findings and provide a post mortem recommendation to the Ford Motor Company on how the Ford Pinto product crisis should have been handled. The Case of the Ford Pinto In 1968 the Ford Motor Company decided to market a vehicle that was small, inexpensive and would appeal to all car buyers. The Vice President of Ford Motor Company at the time was Lee Iacocca. Mr. Iacocca approved the plan for the Ford Pinto based on the parameters of the car weighing 2000 pounds and costing $2,000.00 dollars (Danley J. 2005). By placing these parameters on the car’s designers, they were limited from the beginning and ended up with a failed product. The key factors that contributed to the product crisis included the Ford Pinto being rushed to production in twenty five months, the timeframe to production causing designers and producers of the car to cut corners and finally...
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...Is Sales Ethics an Oxymoron? Introduction It has been said that sales ethics is an oxymoron. In this paper, this topic will be discussed. First, what is an oxymoron? It can be explained as the bringing together of two apparently contradictory concepts such as 'a great defeat' or 'humiliating honor'. From this topic, it is saying that sales ethics is an oxymoron which indicates that there is no ethic in sales. It is suggesting that sales are in some degree unethical. For example, it may believe that ales or business is integrally harmful. Or we can say it is at best amoral and it is beyond the normal moral considerations. In order to better discuss the statement of the question, it is necessary for us to define the meaning 'sales ethics'. Sales or business ethics is the application of ethical values to business behaviour or sales function. When the first trade happened the argument of sales ethics (business ethics) has had drown a great attention (i.e. the Code of Hammurabi, created nearly 4,000 years ago, records that Mesopotamian rulers attempted to create honest prices. In the fourth century BCE, Aristotle discussed the vices and virtues of tradesmen and merchants. The Old Testament and the Jewish Talmud discuss the proper way to conduct business and even includes topics such as fraud, theft, misleading advertisements, environmental issues and just prices. ) Throughout the history of commerce to today, the issues of business ethics is a continuous source of debate as it...
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...A Conceptual Model of Corporate Moral Development Author(s): R. Eric Reidenbach and Donald P. Robin Source: Journal of Business Ethics, Vol. 10, No. 4 (Apr., 1991), pp. 273-284 Published by: Springer Stable URL: http://www.jstor.org/stable/25058230 . Accessed: 16/09/2013 07:44 Your use of the JSTOR archive indicates your acceptance of the Terms & Conditions of Use, available at . http://www.jstor.org/page/info/about/policies/terms.jsp . JSTOR is a not-for-profit service that helps scholars, researchers, and students discover, use, and build upon a wide range of content in a trusted digital archive. We use information technology and tools to increase productivity and facilitate new forms of scholarship. For more information about JSTOR, please contact support@jstor.org. . Springer is collaborating with JSTOR to digitize, preserve and extend access to Journal of Business Ethics. http://www.jstor.org This content downloaded from 202.125.103.33 on Mon, 16 Sep 2013 07:44:13 AM All use subject to JSTOR Terms and Conditions Conceptual Model Moral Development A of Corporate Donald R EricReidenbach P. Robin ABSTRACT: The conceptual model presented in this article argues that corporations exhibit specific behaviors that signal development. Accordingly, the authors identify five levels of moral development and discuss the that move corporations dynamics of corporate behavior another. Examples tive of of moral stages specific development from which...
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...Thursday, November 13, 2014 [Ethics of the Automobile Industry: Ford Motor Company] | By Amir Rafih, Jordan Mather, Jennifer Sprague, Eric Parr, Gloria Ledi, and Meshal Mustafa | | (04-71-300 ) Business Ethics in a Global Context by Dr. Kent Walker Table of Contents Executive Summary 3 Introduction 4 Global History & Development of Automotive Industry 4 Value Chain of the Automotive Industry 6 PEST Analysis 7 Political Factors 7 Economic Factors 9 Social Factors 9 Technological Factors 10 Stakeholder Interests 11 Shareholders 11 Domestic Part Suppliers 12 CAW/UAW (Employees) 12 Customers 12 Environmental Groups 13 Stakeholder Position Analysis 13 CEO 13 Customers 13 Competitors 14 Analysis of History of Recalls and Assessment of Ethics 14 History of Recalls 14 Potential for Improvement 16 Economic, Social and Environmental Impacts of the Global Automobile Industry 17 Utilitarianism 17 Feminist Ethics 18 Postmodern ethics 20 Kant’s categorical Imperative 21 Corporate Social Responsibility, Corporate Social Responsiveness and Corporate Social Performance 22 Conclusion 27 References 27 Appendices 29 Executive Summary Before only the wealthy could afford cars but this changed with the Ford Model T. This car was specifically targeted at average family household by making it affordable to own. By 1918, Model T was owned by half of American car consumers (LoveToKnow, 2014). Standards must be set for companies...
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...About my in-class writing submission in week 2 tutorial about my understanding of the need of engage in responsible commerce, it is just a superficial discussion. At that time I did not thinking about this topic systematically. In that article, I only talk about the importance of responsible commerce like how necessary of responsible commerce and what consequences it can be brought if there is not responsible commerce. To my mind, ‘responsible commerce’ refers to the corporation preventing and solving long term issues to maximize the benefits of the shareholders and stakeholders which compliance with the spirit of the law, ethical standards and international norms. But during the study of COMM101, I found that the principles of responsible commerce are really important for the development of our society, both in economic and culture areas. With the development of globalization, the competition among industries becomes more and more fierce. How to earn more profits with much lower operational cost has become every company's concern and pursuit. Unfortunately, in order to reach their profitable goal, many companies adopt illegal and immoral methods to conquer the market and maintain their market share. However, their improper market behavior is devastating to both the market and the enterprises themselves. On the one hand, their immoral market activity may break the market rules and regulation, which in turn disrupt the normal running of this industry and threaten the operation...
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...originates from the organizations' own particular operations. Accordingly, there is a developing enthusiasm for corporate social responsibility (CSR). Enquist, Johnson and Camén (2005) state that after waves of generation situated and later administration arranged viewpoints on organizations, a third wave of sustainability and triple bottom line concern deduction is developing. According to (Elkington, 1997) the triple bottom line is trying to surround the three type of sustainability. Which is the economic, the environment and the social. Enquist, Johnson and Camén (2005) confirms that by saying this: Companies are paying attention to their core values and the development of a sense of corporate social responsibility, which can be used in marketing strategies and in customer-retention management 1.2 Definition of Corporate Social Responsibility Based on financial theory, there is only one objective that is overlying in the corporation. They are trying to maximise the shareholders wealth. Then again, companies are affected by stakeholders other than shareholders, constituents who are frequently roused by non-financial interest, for example, the...
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...The field of Business Ethics relies on a relatively small core of well-known cases of corporate behavior to illustrate the themes of the subject. Near the top of this list of familiar names (e.g., the Ford Pinto, Tylenol, and Bhopal) is Nestle´ S.A., the Swiss food conglomerate. Of all the business histories examined by students of ethics, Nestle´’s saga of controversy is perhaps one of most intriguing. In the late 1960s, Nestle´ was criticized by social activists for its marketing of powdered milk formula for infants in less developed countries. The case became a cause ce´le`bre as Nestle´ became the victim of a well-organized boycott campaign. The conflict has become a popular case study in the business school curriculum because it demonstrates the need that companies have to constantly preserve and enhance their legitimacy in the public eye. The discussion of legitimacy leads quite naturally into a discussion of issue management, and the consequences of mismanaging a public issue (Post 1985 p. 127). Although Nestle´ was the subject of the boycott, the infant formula controversy may have initially been seen more as a dispute over generic bad practices within the infant formula industry rather than as a focused attack on one particular firm, a perspective that Nestle´ itself may have wanted to engineer. The original publication that stimulated the boycott refers to an industry-wide pattern of marketing of infant formula. (Muller 1974) To begin with Nestle´...
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...Ethical Behavior in an Organization Ethical Behavior in an Organization Dictionary.com defines Ethics as “values relating to human conduct, with respect to the rightness and wrongness of certain actions and to the goodness and badness of the motives and ends of such actions” (2011). In business ethics it is absolutely essential to maintain the concern of corporate social responsibility. Local laws, be it federal, state or local, mandate that all institutions follow ethical practices. The challenge for Management is ensure continued legal compliance with good ethical business practices. During difficult times, it becomes a test for organizations to enforce and practice positive ethical culture. Negative ethical decisions would prove detrimental to an organization in the longer run. Ethical issues are a major concern for any organization because of the lasting impact they can have on customers, stakeholders, employees, and the overall company image. Customers and employees are impacted by the unethical behavior of a company such as when “greed overtook concerns about human welfare when the Manville Corporation suppressed evidence that asbestos inhalation was killing its employees, or when Ford failed to correct a known defect that made its Pinto vulnerable to gas tank explosions following low speed rear-end collisions” (Sims, 1992, p. 3). Negative ethical behavior can result in lawsuits, prison time and/or fines, loss of...
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...issues is the key to understanding business ethics. An ethical issue is an particular problem, situation, or opportunity that requires a person or organization to choose from among several actions that may be evaluated as right or wrong, ethical or unethical (Ferrell). The best way to evaluate the ethics of a decision is to look at it from different viewpoints. Although many business issues seem straightforward and easy to resolve, often times a person needs several years of business experience to understand what is acceptable or ethical. Deciding if an activity is considered ethical depends on the culture the business operates (Ferrell). Fairness and honesty are amongst the biggest issues in business related ethics. It can become a very difficult problem that can and will affect the business. We know that ethics concerns moral issues, so making a decision that will have negative impact on the company is going to be tough for the person. An individual can make either a right or wrong decision, depending on how it will affect their life and workplace. In turn, the business will react accordingly to its moral guidelines and principles provided that the executives do not lose sight of the essential value of fairness. Everyone will have their own concept of right and wrong, so coming up with one definition of business ethics can be difficult. Moral standards are created by home environment, religious beliefs and traditions therefore making ethics hard to define, but not impossible to create...
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...Module 1 National library of New Zealand Is accounting a profession? Ethics Failures in Corporate Financial Reporting The strategic accountant - best show business leadership Public practice: Firm of the future Briefly explain why you think that SMEs do not extensively rely on their external accountants for business advisory services. discuss at least four types of relationships and possible conflicts an accountant faces in performing the above roles How soft skills can boost your career Former Harris Scarfe officer jailed The Ford Pinto Nestle Milk Powder Exxon Oil Company Jacinta faces distress in the office what circumstances apply professional judgement Module 2 Accoutants,ethical issues and the corporate governance context apply the code's conceptual framework approach to explain threat to independence Arthur Andersen and auditor independence accountant no experience,what he should do to perform audit The cautionary tale of Jose L.Gomez contact or obtain professional clearance prior to accepting the appointment? fundraising for a charity,sole tax purposes,voilation of ethic? marketing professional services Explain why integrity is an essential attribute of the profession quality control, merger,not yet completed a review kitchen-tabling-Keith Purcell's earnestness Utilitarianism Does employer have a right to inquire your personal life-rights theory Cheating-the pressure on Pasquale Vialletta to succeed which stage of Kohlberg's of CMD best describes the decisionmaking behaviour...
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...Qn 1 1. The Natural Environment One of the more common ways marketers demonstrate social responsibility is through programs designed to protect and preserve the natural environment. a) Many companies are making contributions to environmental protection organizations, sponsoring and participating in clean-up events, promoting recycling, retooling manufacturing processes to minimize waste and pollution, and generally reevaluating the effects of their products on the natural environment. b) Green marketing refers to the specific development, pricing, promotion, and distribution of products that do not harm the natural environment. c) Although demand for economic, legal, and ethical solutions to environmental problems is widespread, the environmental movement in marketing includes many different groups, whose values and goals often conflict. d) Some environmentalists and marketers believe that companies should work to protect and preserve the natural environment by implementing the following goals: (1) Eliminate the concept of waste (2) Reinvent the concept of a product (3) Make prices reflect products’ true cost (4) Make environmentalism profitable 2. Consumerism a) Consumerism refers to the efforts of independent individuals, groups, and organizations working to protect the rights of consumers. b) A number of interest groups and individuals have taken action against companies they consider irresponsible by lobbying government officials and agencies...
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...Everyone agrees that business managers must understand finance and marketing. But is it necessary for them to study ethics? Managers who answer in the negative generally base their thinking on one of three rationales. They may simply say that they have no reason to be ethical. They see why they should make a profit, and most agree they should do so legally. But why should they be concerned about ethics, as long as they are making money and staying out of jail? Other managers recognize that they should be ethical but identify their ethical duty with making a legal profit for the firm. They see no need to be ethical in any further sense, and therefore no need for any background beyond business and law. A third group of managers grant that ethical duty goes further than what is required by law. But they still insist that there is no point in studying ethics. Character is formed in childhood, not while reading a college text or sitting in class. These arguments are confused and mistaken on several levels. To see why, it is best to start with the question raised by the first one: why should business people be ethical? Why Should One Be Ethical? There is already something odd about this question. It is like asking, “Why are bachelors unmarried?” They are unmarried by definition. If they were married, they would not be bachelors. It is the same with ethics. To say that one should do something is another way of saying it is ethical. If it is not ethical, then one should...
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...____________________________________________________________________ PROGRAMME HANDBOOK ____________________________________________________________________ ____________________________________________________________________ POSTGRADUATE DIPLOMA IN BUSINESS MANAGEMENT ____________________________________________________________________ ____________________________________________________________________ JANUARY 2016 INTAKE ____________________________________________________________________ Copyright© 2016 THE MANAGEMENT COLLEGE OF SOUTHERN AFRICA All rights reserved, no part of this book may be reproduced in any form or by any means, including photocopying machines, without the written permission of the publisher 1 MANCOSA: POSTGRADUATE DIPLOMA IN BUSINESS MANAGEMENT TABLE OF CONTENTS 1. WELCOME 1.1 MESSAGE FROM THE PRINCIPAL 1.2 MESSAGE FROM THE OFFICE OF THE DEAN 3 4 INTRODUCTION TO MANCOSA 2.1 BRIEF HISTORY OF MANCOSA 2.2 PROGRAMME OFFERINGS 2.3 ACADEMIC MANAGEMENT 4 5 5 3. THE MANCOSA VISION 6 4. THE MANCOSA MISSION 6 5. POSTGRADUATE DIPLOMA IN BUSINESS MANAGEMENT PROGRAMME STRUCTURE 5.1 OVERALL PROGRAMME OBJECTIVES 5.2 PROGRAMME FOCUS 5.3 MODULE DESCRIPTIONS 2. 6. PROGRAMME ADMINISTRATION 6.1 PROGRAMME MANAGEMENT 6.2 FINANCE 6.2.1 FEE PAYMENT 6.2.2 PAYMENT OF FEES AND OTHER DUES 6.2.3 PAYMENT PLANS 6.2.4 ADDITIONAL FEES/CHARGES 6.2.5 REGISTRATION SPECIFIC/INCOMPLETE MODULES ...
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...found in the LibGuide on Blackboard for this course. Read each of the following articles. * The Evolution and future of logistics and supply chain management - Ballou, Ronald. European Business Review19. 4 (2007): 332-348 DOI 10.1108/09555340710760152 * Logistics and supply chain management applications within a global context: An overview - Schoenherr, Tobias Journal of Business Logistics30. 2 (2009): 1-VII * Strategic supply chain management: Improving performance through a culture of competitiveness and knowledge development - Hult, G. Tomas M.; Ketchen, David J.; Arrfelt, Mathias Strategic Management Journal, Oct2007, Vol. 28 Issue 10, p1035-1052 * Supply chain management and its relationship to logistics, marketing, production, and operations management - Mentzer, John T; Stank, Theodore P; Esper, Terry L. Journal of Business Logistics29. 1 (2008): 31-VII * Supply chain management and retailing. - Sparks, Leigh Supply Chain Forum: International Journal. 2010, Vol. 11 Issue 4, p4-12. View each of the following: * Video –Supply Chain Management, (Libguide, Steaming Videos Tab) * Video –What is Supply Chain Management, (Libguide, Steaming Videos Tab) The written assignment for this week is found on the next page. Assignment 1.1: Due Fifth Day of the Week (Midnight CST) (100 Points) Post the following directly in the...
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