The Three Ethics Decision Making Model - Laura Nash, the Minute Manager, and the Wall Street Journal Model - Assignment Example

The Three Ethics Decision Making Model - Laura Nash, the Minute Manager, and the Wall Street Journal Model 1. What role do whistleblowers play in corporate governance? Is it a good idea? - Whistleblowers play a major role in corporate governance nowadays. They are the eyes of the government in the corporate world to ensure that their implemented policies were being practiced and not abused in the business sectors’ area. They are the ones who disclose information to the government/ public regarding anomalies or fraudulent acts/ unlawful conduct committed in the private companies. Analyzing the purpose of the whistleblowers in corporate governance, they were important for as long as they serve their main role in the policy making because government has an ambiguous view on corporate world if their policy was not abused by companies. Also, they were not always present in the every place that they could see every anomaly committed by these ones. Thus, if they encourage employees to state what are the rights being mistreated, then definitely the government will have keen eye on every side under its constituents. What seems to be negative here, would be the exaggerated whistleblower policy that even instead of the policy being used for the good of law implementation, it already became a mode in which it had been perceived as a way to make an extra income as well as an scapegoat for those who wishes to be exempted from any judicial trial. Thus, in this sense, it had turned out that they have defied their main purpose in creating better and more systematic corporate governance. 2. Compare and contrast the three ethics decision making model in the Jennings text: Laura Nash, The Minute Manager and the Wall Street Journal Model. Nash Model creates a series of questions that managers could ask in confronting an ethical dilemma . . . it forces managers to seek additional perspective as decision are evaluated and implemented (Jennings, p.46). what is good in the Nash Model is that it seeks the person to challenge its limits and that it pursue to make ones’ self evaluate himself regarding his actions that affects his environment. It also puts the one realizing his ethical action to others’ shoe to fully understand the consequences of his actions. Questions in this Model would include “How would I view the issue if I stood on the other side of the fence?”, “Am I able to discuss my decision with my family and friends”, and “will I feel as comfortable about my decision over time as I do today?” (p.46). Wall Street Model on the other hand speaks of compliance with the law, contribution to the customer, and the consequences of their actions (p.47). Thus model implicated that it is ethical to always abide with the rules because it believes that law resides within them and that it is there to lead for the betterment of the society. Thus, if they abide to these laws set by the government like for example in the article, the clean air act which would benefit their customer and society as well, then it is safe and the best to follow. We can see this as a perspective in which, when business put their customers comfort and satisfaction first, then the goal and profitability of their business would be inevitable. Though this could lead to the business’ expense if the outcome would be of greater benefit, then the cost would be sufficient to serve its purpose for their customer. 3. Explain the steps in resolving ethical dilemma under the Hosmer Model. Apply those steps to any case in the syllabus 4. What is Milton Friedman’s theory about the social responsibility of business? What might he say about the Dow Jones sustainability index? Would he agree with social action if, under cost benefit analysis, the company would earn higher profits? Should that be standard? What Milton Friedman talks about social responsibility on business is that the actors in the business like the managers and executives are the ones who do the so-called social responsibilities and the business per se. An example indicated like for example, the executive of the company decided to give charitable works to other people, then social responsibility would now depend upon whom the expenses would be charged. If the expenses would lessen the wages and benefits of its employee, then, social responsibility was shouldered by the employees. If the price of the business service and/or commodities increases due to the said act, then the social responsibility had been shouldered to the customers. And if the cost would be at the expense of the executive himself, still it does not mean that it has became the responsibility of the business but rather the responsibility of the executive because it was deducted to his profit as an owner of the business. What Friedman wants imply in his article is that there is already the government who has the responsibility to implement laws and policy that could attend to the social need of its people and that business sectors had already contributed by the tax being imposed to them. Also, the government has already a system to check itself as to whether they are functioning well in their part of sustaining their people’s need under their governance. In this sense we could see in a cost benefit analysis that business are doing redundancy on their obligation on social aspect if their mindset would be the pragmatic status quo because “there is one and only one social responsibility of business – to use it resources and engage in activities designed to increase its profits so long as it stays within the rules of the game . . . open and free from competition without deception and fraud.” (Friedman, 1970). References: Friedman, Milton. The Social Responsibility of Business is to Increase its Profits. 1970. The New York Times Magazine. http://www.colorado.edu/studentgroups/libertarians/issues/friedman-soc-resp-business.html http://books.google.com/books?id=nWZSKxfVVYIC&pg=PA480&lpg=PA480&dq=jennings+Business+ethics&source=bl&ots=N1Pa-mOPml&sig=QdCgorizc7YT2AIxvRVGenT1nV4&hl=en&ei=fnKnTtiNOIHc0QHQ-ciQDg&sa=X&oi=book_result&ct=result&resnum=4&ved=0CEUQ6AEwAw#v=onepage&q&f=false. http://www.wadsworthmedia.com/marketing/sample_chapters/0324204884_2.pdf Read More