Midterm question Larry R. Smeltzer and Marianne Jennings wrote an article

Price: $10 USD

Question description

(TCO I) Larry R. Smeltzer and Marianne Jennings wrote an article, "Why an International Code of Business Ethics Would Be Good for Business," which was assigned to be read at the beginning of the course. As you have worked throughout this session, you should have considered this article and how it may or may not have impacted different situations in the world economic/business/legal/political environments. The essay you will write on the next question should show that you have read this article and can apply the theories and thoughts from that article to the scenario provided. Feel free to rely on the information you know about the situations (if real) or analogize to one that is real, if you wish. Include in your answer at least two specific concepts from the article, and apply those concepts to your reasoning in your answer. You will be graded on your knowledge of the article as well as the application of ethical theories to international situations.
In 2014, General Motors promoted a woman to President and Chief Executive Officer, and almost immediately she announced the recall of over two million GM vehicles going back as far as 2002 due to faulty ignition switches. Perhaps most importantly, GM has recognized that the ignition switch failure has led to 23 deaths. GM is currently settling these wrongful death claims for an average of $1,000,000. Yes, that sounds like a lot of money, but remember GM clears about $2 Billion in profits each year. Based on the public statements of the new CEO, it is clear that GM was aware of this problem for many years, but avoided the recall to protect its global reputation as the world’s leading auto maker. As the crisis has developed, the new CEO has taken center stage and been willing to accept the blame. She has admitted the problem was ignored and disbelieved as research was conducted.
For this question, think about the facts of General Motors recognition and reputation, and the impact of this recall on their worldwide sales. Due to the loss of lives involved, and other serious injuries to those who were impacted by the ignition malfunction, you must ask the question “Was it worth It?” Also, think about the cost to stockholders, managers, employees, and other stakeholders.
Now think about Smeltzer and Jennings's international code of ethics article. Would an international code of ethics have impacted how this entire General Motors travesty played out in the real world? Would GM have been somehow required to behave differently, which would have protected so many stakeholders from losses? Or, would nothing really have changed? Feel free to argue both sides of this, and include in your answer at least two or three things you would have derived from Smeltzer and Jennings's International Code of Ethics and how that would or wouldn't have impacted the GM recall crisis. Include everything you have learned this session about ethics in the business world.

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