Description
- Explain the moral and ethical theories of business ethics
- Explain how law and ethics intertwine in business
- Analyze and resolve business and ethical problems
- Develop an acceptable ethical decision-making process
- Analyze business and ethical situations, understand the ethical and legal consequences of decisions and develop an individualized decision-making process
Directions: In your paper, address a current event of your choice, and apply at least two (2) specific course topics to that current event, which must contain an ethical dilemma. You may choose a business firm or businessperson accused of or found guilty of a crime or an ethical violation in the past five (5) years. Your paper needs to address the business or ethical issues and your proposed resolutions to the ethical dilemma presented.
Make sure your paper includes the following:
- Introduction to topic and issue(s)
- Description of the nature of the business and ethical violation
- Description of the consequences that the subject incurred (e.g. loss of reputation, dismissal, lawsuits, fines, etc.)
- Discussion of why, in your opinion, the subject perpetrated this alleged malfeasance
- Explanation of alternative courses of action
- Detailed discussion of the reason why you think the subject did something wrong
- Discussion of what you would have done differently
- Discussion of how your chosen topic relates to what you have learned in this course
- Discussion of the key learning points and how you will apply them in the future
- Conclusion
- Format: five to six pages, not including the cover page and reference page using APA format, 12-point, Times New Roman font, double-spaced, with appropriate headers
- Cover page with your name, instructor name, title of assignment, university name, and date
- Reference list
Required Text
Cheeseman, H. (2019). Business law. (10th ed.) Upper Saddle River, NJ: Pearson. ISBN: 978-0134728780
Explanation & Answer
See attached:)
Moral and Ethical Theories of Business Ethics (Outline)
I.
-
Introduction
A company's business ethics greatly influences the reputation and success of a business.
In the past years, scandals have been witnessed of companies that made decisions that
were ethically questionable, resulting in lawsuits and a massive impact on the success of
the companies. One of the companies that have found themselves in an ethically
questionable situation is Samsung.
II.
Description of the nature of the business and ethical violation
- On 19th August 2016, it officially released a new smartphone, Samsung Galaxy Note 7,
to replace the Galaxy Note 5 (Green & Passenger, 2017). The consumers and the
company faced a global nightmare after the new Samsung smartphones started to explode
in consumers' hands, pockets, offices, garages, and homes, resulting in property damage
as well as burns and injuries.
III.
Consequences
-
Impact of the company’s reputation
-
Impact on the company’s profitability
IV.
V.
-
Why the subject perpetrated this alleged malfeasance
In my opinion, Samsung caused this crisis out of negligence.
Alternative courses of action
The company should have thoroughly inspected the devices before sending them to the
market.
-
Since the company was sourcing its batteries from other manufacturers, they should have
set a system or a way to evaluate the quality and the condition of the batteries before
using them.
VI.
-
Reason why I think the subject did something wrong
Samsung did something wrong because they did not take time to ensure that the devices
were safe to use. The company was fully capable, and it was ethically obligated to ensure
the wellness of the public, and hence it did something wrong by not inspecting the
devices in the first place.
VII.
What I would have done differently
-
The company should have used its capabilities to inspect the devices to ensure safety.
-
Samsung should have put the public's welfare first before anything else because it seems
that the desire to offer more impressive technical capabilities and specs that will compete
with Apple's products made the company rush the smartphones and the replacements too
before they were thoroughly tested to be safe and verified.
VIII.
-
How the case relates to what learned in this course
This case relates closely to the concepts of negligence, utilitarianism, and Kantianism
theories learned in class.
IX.
-
Key learning points
When making business decisions, it is essential to reflect and evaluate whether the
decision made is ethical because unethical conduct can cost a company not only its
reputation but also its profitability.
-
In cases of a dilemma between users' safety and costs or other factors, it is ethical to put
customer safety first.
-
I l...
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