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Macroeconomics and Microeconomics - Ethical Issues - Essay Example

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Ethical Issues Contents Historical background of the chosen company 3 Unethical questions involved 3 Analysis of the effects 4 Proposed Principles 5 Works Cited 6 Historical background of the chosen company The chosen company is General Electric. The company operates in the field of services, technology and manufacturing…
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Macroeconomics and Microeconomics - Ethical Issues
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Download file to see previous pages presently; GE has the record of being the sole company that is listed in Dow Jones Industrial Index that was also listed in the index which was original. Presently, GE is the sole company that is listed in the index of Dow. GE came up with the Radio Corporation of America (RCA). GE has the record to work in the power generation field which provided them the opportunity to venture into the new field of aircraft turbo superchargers. World War I marked the introduction of the first turbo superchargers. GE acquired the assets of wind power of Enron in 2002. The company also has its steps as GE appliances, GE plastics, GE medical systems and GE technical products and services. Unethical questions involved An ethical issue is regarded as a problem that is identifiable, a situation or opportunity. The ethical issues require a person to choose an action that may be evaluated as right or wrong among several actions. Such a choice often takes the monetary profit into account rather than the appropriate conduct that is considered by the person. The nuclear reactors developed by GE have a fatal flaw. GE has developed 91 nuclear reactors around 11 nations. The probability of radiation from the designed reactors is 0.9 in case of nuclear meltdown. A documentary video was released in the year 1991 which accounted people who are harmed because of radiation and also because of the toxic pollution from the nuclear weapons of GE. GE avoids the testing proposals in chemical toxicity tests and it kills large numbers of animals annually. This argument was put forward by PETA. GE can also be held responsible for global warming. But recently GE has taken steps towards a stringent position in environmental concerns. Most of the largest green house gas emitters including GE failed to disclose the financial risk associated with changes in the climate and ignores the deal on global warming and other related issues which includes areas of corporate governance. The share holder’s meeting calls the management to report on the green house emissions which includes carbon dioxide, mercury, sulphur dioxide and nitrogen oxide. The company has two manufacturing plants in Hudson falls and Fort Edward. EPA reported that the company discharged polychlorinated biphenyls of huge volume into the Hudson River. The company opposed the plan to dredge PCBs from the river. GE referred the proposal as absurd. GE was responsible in a fraud case in 1990s. Recently in 2010, GE has been under a lot of speculation due to discrepancies in their tax payment. Many have accused GE for differing tax payments on total profit earned. In 1992, General Electric faced its worse ethical lapse. The company was rocked by many pricing scandals related to the defense contract the company had undertaken. The public image of GE had suffered immensely due to the scandals revealed (Prasad, 111). To re-establish the clean image of General Electric, the company took various steps. The company drafted several in-house rules that were of about eighty pages and were published in all the languages on the websites of GE. The rules and regulations were hailed as Integrity by the company. In the early 1993, the company decided to set up a toll free number, which was available to all the employees. The employees were requested to call up at the toll free number to report any unethical practice seen by them during the operations. GE has been hailed by ...Download file to see next pagesRead More
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