Saturday, March 14, 2020
Application of ethical theory to a case study vignette Critics argue that the principles of business ethics are only theoretical since they are conceived within scholarly boundaries and thus not applicable to real life business. Regardless of this, there are numerous ethical theories which describe the process of ethical decision making. These include the social contact theory, the stakeholder theory, Kantian ethics, among others.Advertising We will write a custom case study sample on Application of ethical theory to a case study vignette specifically for you for only $16.05 $11/page Learn More These theories have different assertions, all of them relevant to modern business ethics. To illustrate their usefulness in the development of modern business ethics, two of these theories are analyzed against the James Company vs. town council scenario. The concept of business ethics varies from one society to another. While an aspect maybe considered as unethical in a given society, the same might be ethically acceptabl e in a different society. Regardless of this, Ostas (2007) argues that the motivation for violating business ethics is multifaceted, more so by pecuniary self interest, which is further complicated by conflict of interest. There are numerous factors which need to be considered in determining whether a situation portends conflict of interest. These include the nature of affiliations between parties in a business contract, employment issues as well as legal and social obligations by firms towards the local community and business partners. OstasÃ¢â¬â¢ (2007) arguments illuminate a number of key issues relevant to this case study. To begin with, the nature of affiliations between JamesÃ¢â¬â¢ Company and the town council portends conflict of interest. JamesÃ¢â¬â¢ Company had previously won tenders fairly. However, the fact that a third of employees in JamesÃ¢â¬â¢ Company come from the town pose crucial questions on the reason why the town council overpaid the Company in the lates t tender. Since this is a fixed price contract, extra payments portends breach of contract agreement, and is likely to be perceived as kickbacks or rewards to JamesÃ¢â¬â¢ Company for providing employment to members of the townÃ¢â¬â¢s community. This argument lends itself to the fact that there are three major stakeholders in this case: JamesÃ¢â¬â¢ Company, the town council and the company employees.Advertising Looking for case study on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More These stakeholders are likely to benefit from such unethical practices. Additionally, the dilemma is compounded by the fact that the town council, which is the client, adamantly maintains that the extra unauthorized payments are correct. There are a number of business ethics theories which can be used to analyze this case. Since this case study involves conflict of interest regarding major stakeholders, the stakeholder theory o f business ethics seems relevant. According to the stakeholder theory, business managers have the obligation to manage resources only for the purposes for which they are intended. This implies that there exist fiduciary relationships between major stakeholders, which must be maintained without violating business ethics. The social contract theory is a set of ethical sub theories, which recognizes that business ethics are governed by social contract between a recognized business and the society served by the firm. As such, firms should serve both their interests as well as those of the community without violating normative ethics (Hasnas 1998). In addition to these, while Kantian school of thought is one of the most complicated ethical theories, it postulates that business practices can only be moral if they are motivated by duty as well as goodwill. Additionally, Kantian ethics are based on universally acceptable maxims (Bowie 1999a). All these theories provide plausible bases to an alyze this case. However, the stakeholder theory as well as Kantian ethics override others due their close relationship with issues relevant to this case. The case of JamesÃ¢â¬â¢ Company and the town council revolves around the relationship between major stakeholders and how resources are managed. This relationship portends conflict of interest since all stakeholders are seen as benefiting from unethical business transactions. Using the stakeholder theory, it is evident that the town council violated normative business ethics by paying the contractor over the amount stipulated in the contract.Advertising We will write a custom case study sample on Application of ethical theory to a case study vignette specifically for you for only $16.05 $11/page Learn More According to the stakeholder theory, business managers are the principle custodians of capital extended by stakeholders. As such, managers are obliged to ensure that money is only spent for the purpose s stipulated in a business agreement (Hasnas 1998). HasnasÃ¢â¬â¢ (1998) argument should be considered against the requirements American business contract law which criminalizes making payments especially in cases that portend conflict of interest. The extra $ 10000 seems a reward to the company for employing the townsÃ¢â¬â¢ people, and thus illegal. Based on this argument, the town council management breached the contact terms by paying more than the amount agreed in the contract. The stakeholder theory further asserts that stakeholders extend capital to business managers and as such, managers are obliged to cater for the wishes of stakeholders (Hasnas 1998). Since the town council is a major stakeholder, its wish is to use any means to protect jobs for the local population. In this case, the extra $ 10000 seemed to have been paid to maintain trust between the three major stakeholders, but is not part of the business contract. But as Hasnas (1998) asserts, the use of capital for any purpose contrary to contract agreement, despite it being for the best interest of stakeholders becomes unethical. Furthermore, the stakeholder theory postulates that managers are obliged to use business capital for the interest of all stakeholders. In this context the term stakeholders refers to any group or individual who can affect or is affected by the corporation (Hasnas 1998). Thus, the local community, JamesÃ¢â¬â¢ Company, the company employees and the town council become major stakeholders. It is logical to argue that the source of council capital is taxation and rates imposed on the local community. Thus, making such unauthorized payments amounts to misuse of public funds, and is not for the best interest of the public. While the stakeholder theory seems to focus on fiduciary relationship between stakeholders, Kantian ethics focus on categorical imperativism. In this case, an individual must have the will and is duty bound to act on maxims that are universally accepta ble. Therefore, only those actions motivated by universally acceptable maxims are morally permissible (Bowie 1999b).Advertising Looking for case study on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More As indicated earlier, an act portends conflict of interest depending on the nature of affiliations, legal and social obligations as well as issues of employment, which seems to underlie The JamesÃ¢â¬â¢ Company town council scenario; the town council made extra $ 10000 payments to JamesÃ¢â¬â¢ Company, arguably based on profits that would be accrued by all stakeholders. Following Kantian ethics, making extra payments follows the maxim that it is morally permissible for a client to make extra payments to sustain fiduciary business relationships. Thus, the council management ought to ask itself whether making unauthorized payments to a contractor to sustain fiduciary relationships follows a universally acceptable maxim. Kant further argues that people have free will and thus have the ability of follow the law based on reasonable virtues rather than self interest. As such, Kant requires business managers to treat other stakeholders as ends, rather than means to an end. Following this argument, it is evident that the management at the town council treated James as a means to a greater end. Additionally, Kant argues that a business enterprise is part of the moral community. Like the stakeholder theory, Kantian ethics proposes that for moral reasons, all the genuine interest of all stakeholders must be upheld if a business practice is to be considered moral (Bowie 1999b). Making extra payments amounts to breaching the initial contract agreement. This led to misappropriation of public funds. Thus, the town council failed to uphold the interests of one of the stakeholder, the taxpayer. Using the stakeholder theory and Kantian ethics, it is evident that the management at the town council violated normative business ethics. In addition, James seems to have noted the anomaly arising from extra payment and alerted the town council, which remained adamant that the correct payment was made. The fact that the previous contract had lost JamesÃ¢â¬â¢ Company an equivalent v alue to the extra payments made, puts James in a moral dilemma. Choosing to accept the payments compensates the company against previous losses and thus increases company profits. However, according to the stakeholder theory managers do not have the moral obligation to increase companyÃ¢â¬â¢s profits at the expense of the interest of other stakeholders. This implies that there are ethical constraints which require managers to only increase profitability through honest dealings (Hasnas 1998). Therefore, there are ethical constraints that do not allow James to accept the extra payments. In addition, Kant argues that businesses are moral communities, with stakeholders having a moral duty towards each other (Bowie 1999b). Based on this, James has a moral obligation to maintain honest dealings with other stakeholders and as such cannot accept dishonest payments. Furthermore, KantÃ¢â¬â¢s categorical imperativism asserts that where there are principles that cannot be universalized, it is immoral for businesses to make exceptions for themselves (Bowie 1999b). Thus James cannot make exemptions for his business by accepting illegal payments. According to Duska (2007) parties within a business contract are bound by the contract agreement. As such, any decision that contravenes the contract is unethical. In view of DuskaÃ¢â¬â¢s (2007), BowieÃ¢â¬â¢s (1999b) and HasnasÃ¢â¬â¢ (1998) assertions, James is bound by the contract agreement which is worth $ 50000. Therefore it amounts to breach of contract if he accepts extra $10000. To abide by the contract agreement, James ought to accept $ 50000 but return the extra $10000 to the client. Additionally, contractors have the right to investigate contract breaches (Summerford 2001). Thus, James should conduct further investigation to reveal the extent of the fraud to determine whether legal action is necessary. Modern business management is complicated, especially with regards to business ethics. This is compounded by the fact that societies have different ways through which ethics are perceived. In this regards, ethicists have developed numerous ethical theories, which form the basis of modern business ethics. These theories have varied assertions, but as evidenced in JamesÃ¢â¬â¢ company vs. town council case study, a business practice is only ethical if it follows laid down agreements. Thus, business managers have an obligation of adhering to established rules since most of the business failures emanate from unethical business practices. When adherence is consistent it sets precedence for successful businesses ventures. Reference List Bowie, N., 1999a. Business ethics: a Kantian perspective. Oxford: Blackwell Publishers. Bowie, N., 1999b. Business ethics and normative theories. [online]. Duska, R., 2007. Contemporary reflections on business ethics. Boston: Springer. Hasnas, J., 1998. The normative theories of business ethics: a guide for the perplexed. Business Ethics Quarterly [online]. Ostas, D., 2007. When Fraud Pays: Executive Self-Dealing and the Failure of Self- Restraint. American Business Law Journal [online]. Summerford, R., 2001. Reserving the right to audit the suspicious vendor [online].
Wednesday, February 26, 2020
Ethics of Product Pricing - Essay Example Two, more common arguments, put forward by these companies are that they need to cover R & D costs and they have to cover the development costs before the product becomes obsolete. R & D costs are those costs associated with manufacture of the drugs, research done to find the cure of a disease and any other costs that are bore by the drug manufacturing companies in order to bring their product in the final shape, one that is presented to the consumers for sale. These costs are often very high and in order to cover those costs products are marked-up with these costs against the expected sales. Similarly, whenever a company develops a product, it saves its rivals from spending on the research and they use the research done by the original developer and enjoy free-riding at the expenses of the first developer. So, firms are forced to cover those costs before the patent expires and rivals start copying the drug. As a result, they charge high price to cover these costs during the time whe n patent is still active. As a result, this behavior is reflected in high prices for the consumers. John RawlÃ¢â¬â¢s theory of distributive justice was based on equity and liberty. It focuses on equal distribution of assets between different members of the community. Rawls also stressed that everything must be done in an act of achieving fairness. He negated the idea that actions of one person should harm another person. This can be related to the pharmaceutical industry in a way that both rich and poor in the society should receive equal health care regardless of their abilities to pay. This will create an atmosphere in the society that will lubricate the process of societal goods in which all will work towards a common aim of doing something good for society. For example, drug companies might share R & D costs, in order to provide good for the consumers or society by providing them cheaper medicines. Similarly, it can also
Monday, February 10, 2020
A guide to taking a patient's history - Essay Example Ã¢â¬ËA guide to patientÃ¢â¬â¢s history obtaining NursingÃ¢â¬â¢ article by Lloyd and Craig investigates the approach of gathering history of a patient. The guide identifies the procedure and reason of patientÃ¢â¬â¢s history obtaining, the significance of environment preparation and how efficient skills of communication aid in the taking of accurate history. Article summary Correct patient history is crucial because it provides the doctors or nurses and healthcare management with the effective information required in carrying out their assignments. The environment preparation offers patient safety, correctly equips them and eliminates any form of patient or nurse distractions during history taking process. The patient may feel uncomfortable talking over some sensitive matters if some distractions occur in the environment, or the nurse seems not to be attentive. The setting should be private to make the patient confident to give private information without reservation. The nurse should ensure respect for the patients, which involves respecting the values and beliefs and privacy, confidentiality and dignity of the patients, and the capacity to be non-judgmental and highly professional throughout the process. Effective communication skills are crucial to allow obtaining of a comprehensive history, while the medical practitioner should obtain patients consent before the commencement of the intervention. After obtaining the patient consents, the nurse should follow the below overall standards when collecting patientÃ¢â¬â¢s information. First, Introductions are crucial for the creation of patient-nurse relationship and mutual trust and to help set an interview process tone, and investigate how the patient prefers to be addressed. Pay attention to the patientÃ¢â¬â¢s history as this provides a systematic order of information. Closed questions offer additional information and enlighten patientÃ¢â¬â¢s story. Clarification, which entails recalling back to the parson and comprehension of the history, comments and disease symptoms, is crucial. After complaint presentation, the nurse should take the medical history of the patient and investigate other related histories and records of the patient. It also provides crucial health information background such as cancer history and about diagnosis, sequence, disease management and dates. Mental health history investigates whether the patient has experienced any mental challenges in the past. Investigate the present coping mechanisms of the patients including anxieties over health challenges (malignancy suspicions, future surgery, test outcomes) or advanced mental challenges like bipolar disorder. Medication history is crucial to investigate the previous and current medication that the patient may be using. For instance, the source and form of medicine used, whether the medicines were prescribed by a doctor, bought from pharmacy or acquired from other sources such as herbal medicine and homeopath ic remedies. Family history should be established because it can provide a significant source of familial conditions like cerebral malaria, dementia history, asthma and diabetes history, which might aid direct patient healthcare management. Social history Ã¢â¬â experts agree that a personÃ¢â¬â¢s capacity to cope with health alterations depends on his social welfare. The nurse should investigate the function level and any long-term functional change due to illnesses, (Lloyd & Craig, 2007). The nurse should investigate the patientÃ¢â¬â¢s family relationship, social membership and other social support networks. Sexual history covers sexual health, and some of the sexual infections that the patient may have experienced. For instance, in men investigate about past infections of urinary tract and STIs and possible treatments offered. In females, explore date of menstruation, menarche regularity and characteristic of pregnancies, abortion, life births and periods as well as risks of STIs infections, (Lloyd & Craig,
Thursday, January 30, 2020
Performance in Sme in Malaysia Essay The Auto Industry and the Environment The industry is committed to contributing to an integrated approach, with other stakeholders, to a cleaner environment and reduced carbon emissions. Automakers are constantly developing more ef? cient engines and drive-trains to reduce fuel consumption, and a wide range of sophisticated emissions-control technology is putting cleaner automobiles on the road everywhere. With more and more new vehicles with modern exhaust emissions performance on the road, clear improvements in air quality can be seen. Automakers have invested hugely in reaching these air quality improvements and in developing diverse automobiles that run on alternative fuels including those from sustainable sources or that use hybrid technology using both gasoline or diesel engines and electric power. Because consumers, as well as different regions of the world, favour different technologies, automakers are developing a range of automobiles that run on different fuels. Argentina Australia Austria Belgium Brazil Canada China Czech Rep.
Wednesday, January 22, 2020
My partner and I both currently attend courses on the sociology of drugs and youth and it was from these classes where we derived our question for this project. As these subjects were a shared interest we decided to focus our question on the drug habits of Stirling University students as we would have no access problems to a sample. Once our topic was decided apon the specific question Ã¢â¬ËHave the drug habits of Stirling University third year students changed since coming to universityÃ¢â¬â¢. Even though the report had to be done in pairs this did not necessarily make the task any easier. I thought there would be a major benefit in the fact that we could negotiate reading duties between the pair of us but it emerged that for a really successful project we would have to have as wide a knowledge of the subject as possible. Communication was paramount at all times as we wanted the report to flow as apiece and not appear to be obviously written by two separate people. I believe our communication with each other was a significant contributing factor to the success of our project. The fact that my partner and I share the same timetable at university was highly advantageous as we had ample opportunities to meet up and discuss any developments or problems that arose. The only significant conflict that arose between my partner and I concerned the questions in which to ask our respondents during our interview. We had contradicting views as to what questions should and should not be asked and also about the wording of the questions. After some deliberation and by conducting Ã¢â¬ËmockÃ¢â¬â¢ interviews with each other equilibrium was reached. My personal progress throughout the report was aided considerably by the use of a research diary. This was used to chart any progress, queries, ideas or problems that occurred during the semester. The research diary assisted me by keeping a personal record to share with my partner whom also had a research diary filled with her own thoughts therefore ensuring we never forgot any information. Furthermore, the research diary was also used to record advice given to us by our tutor at class time and at personal meetings. The true benefit of the diary, though, emerged when we finally came round to writing up our report as we had a physical reminder of problems and self-criticisms that would otherwise have been forgotten.
Tuesday, January 14, 2020
ItÃ¢â¬â¢ is hard to believe that my best friend Kelly and I have a lots of differences. Even though, we love each other we are completely different In our personalities, work experience and how we take care of our family. We both have great personalities. Kelly and I have been friends since I was 5 years old. We went to the same school and stayed in the same class until we went to high school. For example, Kelly is very friendly and she has a great humor. She is very outgoing and love to talk with different people , even people she just Met .On the other hand, I am very shy and serious kind of person. I do not like to talk with other people. For these reason is hard for me to make new Friend . To illustrate that ,when we are invited to our neighbor birthday party , so we went to celebrate with his family and friends. The party was full of strangers and Kelly began to talk with those strangers. All I did was seat in the table alone and wait for someone to talk to me. Kelly came and start to introduce me to her new friends . I feel so proud of her , because if wasnÃ¢â¬â¢t for her , I never have the courage to introduce myself to them.Another example, is that Kelly and I have different kinds of works . She works as secretary and I work as house cleaner . She had this great job in Boston as secretary . It is near her house, she has a great salary and a month of vacation paid every year . Her job is so easy and she just have to answer the phone ,book appointments and be in the office the whole day. However, I work as house cleaner , it is very hard work by cleaning other people dirty houses. One of the problems is that I spend a lot of money on gas, cleaning products and vacuum repairs.My salary is not stable it depends in how many houses I clean every week. Paid vacation forget about it . Finally is our Family, that is the best and important gift that anyone can have . Kelly and I have a wonderful family, we both have kids and we have been married for 5 years. Kelly has two boys and one little girl, their names are Robert 10 years old, Nicholas 8 years old and Amanda 4 years old . I have three kids too ,instead, I have two girls keren 9 years old, Sarah 4 years old and a boy he is 12 years old. We both love Our family very much and we appreciate staying together with our family .Even though, Kelly prefer to stay home and be creative with her kids by doing crafts activities . I prefer to go outside and play with them . Last winter we went to Cocokeys Park and our kids got to play together and they had a terrific time . When the park was closing we decided to sleep at the hotel inside the park, again that was the best part for Kelly stay inside. Besides our differences , we both have a wonderful family and we always share with each other ways to raise and educate our kids. After all our differences we still best friends
Monday, January 6, 2020
As I come home one afternoon from school, I see my mother with her brows pressed firmly against each other. I cautiously approach her because I assume sheÃ¢â¬â¢s upset. The closer I get, the easier I can analyze her face; she abruptly hands me a letter and commands me to read it for her. I read thoroughly and begin to translate the information from english to spanish. The letter came from the IRS; informing her about a balance due next week. She, with a softer look thanked me. Her frustrated attitude quickly disappeared. But, I ask myself today, what if I wasnÃ¢â¬â¢t there? What if my mother would ve just put the letter aside due to her incapacity to understand, consequently missing the due date? The author of Ã¢â¬Å"Illiterate AmericaÃ¢â¬ , Jonathan Kozol expresses his concern on the issue of illiteracy in America. Although his book was published in 1985, illiteracy and the examples Kozol provided in his writing remains relevant to the world we live in today. KozolÃ¢â¬â¢s pu rpose in writing this book was to bring awareness and expose the flaws America purposely overlooks. In efforts to bring his readers out of their Ã¢â¬Å"comfort zonesÃ¢â¬ , Kozol successfully uses the strategies of allusion, analogy, and anecdote. Straight away, KozolÃ¢â¬â¢s use of allusion can be detected; he implemented this strategy to give the audience an opportunity to get out of their safe zone.Ã¢â¬Å"Questions of literacy, in SocratesÃ¢â¬â¢ belief, must at length be judged as matters of morality.Ã¢â¬ (pg.149) Kozol places his first allusion at theShow MoreRelatedThe Human Cost Of An Illiterate Society989 Words Ã |Ã 4 PagesAnalysis of Ã¢â¬Å"The Human Cost of an Illiterate SocietyÃ¢â¬ In the essay, Ã¢â¬Å"The Human Cost of an Illiterate SocietyÃ¢â¬ written by Jonathan Kozol and originally published in the book, Ã¢â¬Å"Illiterate AmericaÃ¢â¬ , is a bundle of examples of how people who are illiterate live every day. 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Many people who do not have a basic knowledge of science usually donÃ¢â¬â¢t questionRead MoreDawkins and Kozol Essay3200 Words Ã |Ã 13 Pagesdarwin Running Head: DAWKINS AND KOZOL The Meme concept from Dawkins and the Educational Funding concept from Kozol Kevin Edmundson Oklahoma University LSTD-5013 Interdisciplinary Foundations The Meme concept from Dawkins and the Educational Funding concept from Kozol Introduction Jonathan Kozol, one of the most zealous advocates of the idea, wrote a series of books, which depict below the critical school, where children from poor, mostly belongingRead MoreHomelessness1449 Words Ã |Ã 6 Pageslose their homes, their families and most importantly their mind. But why are people homeless? The majority of them have graduated from high school, many have attended college, and a few have a bachelors degree or higher degrees. They are not illiterate yet they have always worked in what Michael Piore calls the secondary labor market of low paying sporadic manual jobs (Rosenthal 20). These jobs pay minimum wages that when a time comes and there is not enough money to pay the bills or the rent