Free Ethical Theories Case Study Sample
Moral theories are related to rights in that they recognize that human beings have essential rights and privileges that surpass national culture and boundaries. Based on Moral theorists, it is argued that essential human rights determine the basis for the moral compass that top management in an organization should abide by when making decisions that have an ethical component. Morality is said to be the way through which we determine wrong and right conduct.
Ethical principles are significant issues in businesses both on firm levels or wider phases. Ethics reflects what wrong and what is right in big businesses and leads workforce and stakeholders with moral standards. These principles provide a guide in making decisions by the board and also establishes the criteria by which the decisions made will be judged by the public. In addition, how people judge your decisions based on the character is very crucial for sustainable success of a business in a new market since it is based on trust and credibility. Thus, for the board to come up with a successful solution and strategy to the problem in question, they should be very concern with their reputation and character that is clearly reflected from the set of decisions.
For the US Company to implement the employee loan strategy, business ethics and moral theories of the target country should be analyzed well. It helps to ensure that when the company commences business in the host country, there is no violation of rules and regulations by their employees or the operations of the business. Due to the ubiquitous and global business operations, the board is supposed deeply to understand the culture, moral values and ethics that relates to the host country and the targeted market within that particular country.
For the US Company to increase their earnings from the new markets, they need to analyze moral values. The board should consider cultural relativism that represents the of rules and principles that the host country holds. They must train their employees to abide by their cultural practices in the host country. For them to enhance the acceptance of the US Company for easier penetrate into wider markets within the host country. Also the board should consider moral subjectivism, that is, what they feel is right or wrong at that moment when they are analyzing the problem and its outcomes. Moral subjectivism is, in essence, the denial of moral principles that are important and the possibility of criticizing and arguing against a moral value in a country. It will enable the board to make decision-based on their professional understanding of the problem. And not base on the company law that requires that you must purchase extra insurance and take measures employees’ safety, health, and welfare.
Another moral theory that should be used by the board while trying to come up with a strategy to solve their problem is Ethical Egoism. Egoism is where what is right or wrong is determined by the self-interest of the subject. It enables the board to make decisions while considering the interest of the company employees and the host country. Thus, ensuring that the company does not compromise the rights of employees in terms of health, welfare and safety. Also, this ensures that the target market in the host country is not exploited in terms of high prices and substandard products for the sake of making high returns and profits in the interest of stakeholders. Despite the fact that employees are to be deployed to the host country under the loan strategy, the US Company should ensure that there is a plan. A plan is appropriate to cater for their welfare and health in case of exposure to adverse conditions in the new market.
Under ethical principles, these are global standards of right and wrong prescribing what behavior an ethical or individual should engage or should not engage. For the board of the US Company to analyze the problem in question while determining the future outcomes of their venture into the new market. They should ensure that the solution they come up with should accommodate all the relevant ethical principles of conducting businesses. Some of the ethical principles include: Loyalty that ensures that ethical executives of the company should be loyal to their company and their colleagues to justify their trust. They should not, however, put their loyalty above other principles or use their loyalty as an excuse for their unprincipled conduct. Law abiding is another ethical principle the board should use in formulating a strategy for the problem in question. They should ensure that the strategy they come up with will abides by the rules, laws and regulations relating their business operations and those of the host country. Another principle is accountability in that the US Company ethical executives should ensure accountability for the ethical quality of the board decisions. They should also be count responsible for any misconduct of their employees in the host country or be accountable to the negative impacts their operations instills to the host country residence as a whole.
Based on the case scenario provided, the most applicable and appropriate moral theory that should be adopted in making credible decision is the egoism theory. Egoism theory postulates that right and wrong is solely determined by the self-interest of the subject in question. Apparently, the theory above is applicable and appropriate for solving our case ensuing the fact that both the employees in question and the company’s stakeholders have their self-interest they anticipate being fulfilled. To ensure that a credible decision is made, the interest of both parties involved ought to be defined clearly and precisely. In this case, the interest of the company’s stakeholders is to send employees to the foreign country on loan in an effort to increase the company’s revenue and subsequently their profit. On the contrary, the employee’s interest is to ensure that they work in a safe and conducive environment. For a just decision to be made, it is essential for the board to ensure that the decision made serve the interest of both the two parties without necessarily compromising the interest of the other.
Considering that the interest of the company’s stakeholders is to ensure that the company realizes huge revenues by expanding its operation. The initial step in solving this dilemma relative to egoism theory is first to think of a way where we can achieve the interest of the stakeholders. Then subsequently establish a way where the interest of the employees is fulfilled as well. It is imperative to denote that some employees will be willing to work in a foreign country as long as they are given adequate and satisfactory compensation for the same. Based on the above, employees of this company will be asked to volunteer willingly to work in the affiliate foreign company with added benefits and insurance covers. By assuring the employees of their safety and additional compensation, the company will win the hearts of the employees and some will willingly go to the foreign company. The decision above is ethical owing the fact that the interests of the two parties involved have been served.
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