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Business Ethics - Term Paper Example

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Business Ethics Table of Contents Introduction 3 Thesis Statement 3 Explanation to the Case at Hand 4 Theoretical Explanation 5 Utilitarianism and the Principle of Utility 5 Deontology or Dignity of Persons Principle 5 Virtue and the Right Formation of Character 6 Theoretical Justification and Identified Consequences 6 Conclusion 8 Works Cited 9 Introduction With the increasing pace of development, organizations seek to evaluate a widespread structure of various operations…
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Business Ethics
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Business Ethics

Download file to see previous pages... However, the objective towards attaining significant development in the code of conducts gives rise to several challenges regarding an effective practice of business ethics within the organizational framework (DeGeorge 9). Thesis Statement This essay intends to evaluate the case of Electrocorp, a computer component manufacturing company allied with the automobile industry identifying moral issues in relation to the case at hand. Explanation to the Case at Hand Electrocorp is an US based electronic products manufacturing company that serves with computer components for automobiles. According to the case it has been observed that the organization is facing a continuous decline in terms of its profits due to an increasing rate for costs incurred during the production due to increasing rate of raw materials, labor payrolls as well as expensive process of disposal facilities. Moreover, the environmental regulations that the plant maintains also requires higher amount of investments in its various safety procedures. In order to mitigate these consequences, the organization intends to relocate its manufacturing units in developing nations with the advantages of lower wage rates and availability of cheaper raw materials along with minimized cost for maintenance and flexible legal implications. Hence, the organization has been concentrating on Mexico, Philippines and South Africa as the most prospective regions to support the organizational objectives (Musalo, “The Case of the Plant Location”). In the context of the case analysis, it can be considered that the organization might have to face certain dilemmas in yielding greater profitability through augmented production capacity but reduced production cost, relocating its firm in developing countries serving with the advantages of low labor costs, cheaper raw materials and comparatively flexible legal barriers. For instance, according to the case scenario, the decision of relocating its manufacturing plants to other country can be profitable for Electrocorp to earn a greater profit margin, where the decision might give rise to various ethical issues in terms of job loss of the US laborers along with exploitation of resources served by the developing nation, i.e. the intended location to set-up the new plant. Theoretical Explanation Utilitarianism and the Principle of Utility The theory of Utilitarianism can be considered as an ethical normative theory. It is one of the well-known as well as widespread forms of consequentialism, where a range of moral theories that state the suitability or unsuitability of few described actions, are studied. The philosophy behind the theory of utilitarianism states that it is a moral worth of a specific action that can be determined by its resulting consequences (National University of Ireland Galway, “Business Ethic: Utilitarianism”). According to Mill’s theory of principles of utility, combined with the theory of Utilitarianism, states that actions which tend to augment happiness and positive thinking amid individuals are good; whereas, the acts which impose pain and suffering to individuals owing to the influences of naturalistic fallacy shall be considered as bad (Mill 81). Deontology or Dignity of Persons Principle Dignity of ...Download file to see next pagesRead More
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Business Ethics
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