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Ethic Case Opinion and Analysis - Essay Example

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Professor Date Question 1 Labor cost in any organization plays a crucial role in determining its success. This success is directly dependent on how well the labor cost is controlled. Research shows that most business firms around the world operate at a joined cost of remunerations and benefits expenditure of approximately 70% of the total operating cost…
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Ethic Case Opinion and Analysis
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"Ethic Case Opinion and Analysis"

Download file to see previous pages The sum total of all the above challenges result in a high cost of labor which impacts negatively on the firm. Therefore, a worker-sensitive firm needs to put up a number of measures to curb this high labor costs, otherwise the company might face a competitive disadvantage in the market. The measures put forth should be ethical and fair both to the firm and the workers or employees. In cases where the measures are not fair, customers tend to distant themselves from the firm’s products or services and this impacts negatively on the firms’ share of the market. This is often the cause of a business gap between client prospect and what they basically get from the market. The misunderstanding caused between the client and the firm interferes with the projected incomes and sales. It is worth noting that there is a need to identify explicit criteria through extensive research that relates to labor resources and service delivery. There are two main methods of managing labor costs, controlling staffing and adjusting salaries paid. In the face of competitive forces, a firm has to adapt quickly since it is essential for the company to react to the changing conditions. The other way of dealing with company downsizing is to act on employees’ number. The actions chosen need not be ruthless but rather ethical. Actions such as compulsory early retirement or lay off in a firm need to be done in a selective manner. It is worth noting that the criteria chosen should take into consideration the needs of the workers. It should be creative so as to draw and keep employees. However, it should not compromise the operational efficiency or profit margins at any cost. It should be viable and reasonably ethical. Some of the ethical ways of reducing labor costs include job sharing and developing outreach programs. Question 2 The Golden Rule “Do unto others as you would have others do unto you” is an ecumenical and ethical standard that requires those who believe in it to consider the feelings and likes of others before acting. It is often referred to as the ethic of mutual exchange. This rule has often been applied in solving business related problems among other worlds’ problems. This paper seeks to explore the application of the golden rule in business ethics. It is a rule in business management that plays a big role in long term success of a firm. Ethics does not always pay but rather presents a central challenge towards good management to constantly align success and responsibility in business. (Maxwell 122) Executive management in firms faces a lot of challenges in trying to apply this rule because of the conflicting behaviour of human nature. However the golden rule underlies and protects codes of business conducts and responsible consumption. Golden rule actually works in a competitive business; this is because workers tend to be more motivated since they will have a feeling of being appreciated in their work. They will further put their own initiative and effort in work with minimum or no supervision as long as they are provided with good working environment. This is a policy that makes one feel respected. This does not only apply to the workers but also to the customers. Everyone wants to be treated with honor and respect in ways that enrich ...Download file to see next pagesRead More
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