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Not All Companies Are Viewed as Equal - Assignment Example

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Contextually, in this similar context, the aspect of free trade is identified to be changing the perceptions of the people in the form of the customers towards viewing all industries in an equal…
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Not All Companies Are Viewed as Equal
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Not All Companies Are Viewed As Equal Introduction Globalization has transformed the styles and the patterns of business industry. Contextually, in this similar context, the aspect of free trade is identified to be changing the perceptions of the people in the form of the customers towards viewing all industries in an equal manner. Justifiably, consumers of different background do not support all industries equally because small and medium industries overshadow quality of the products, which eventually creates harm for humanity (Frank, 2007).
With this concern, the assignment intends to explain the major reasons for supporting either the consumers or the industries in the land of free trade. Various significant aspects including the role play by capitalism in corporate decision making, detailed analysis of a selected business situation and the execution of certain effective theories will also be discussed in the assignment.
A Brief Explanation of the Major Reasons
Nowadays, every company operating in dissimilar industries is apparently observed to be offering the products in accordance with the preferences or the choices of the customers. As an advocate, I would like to support the industries, as due to global economic pitfall; the purchasing power of the general people is getting limited, which in turn affects their profitability at large. It can be affirmed that in order to sustain in this land of free trade, industries of different scales need to produce low-cost goods for serving the customers according to their respective preferences (Frank, 2007).
Role of Capitalism in Corporate Decision-Making
Evidently, the notion of capitalism is identified to play decisive roles in the context of corporate decision-making procedure. It can be apparently observed that the aspect of capitalism has risen by a considerable extent specifically in the corporate sector with the gaining momentum of free trade. This certainly affected the decision-making procedure of the corporate sector at large. Every industry desires to sustain in this competitive landscape and earn more profit. Thus, the decision-making procedure in corporate sector has certainly changed the entire business environment with the alignment of free trade. Identifiably, due to the prevalence of high competitive market, every entrepreneur has emerged with the execution of new ideas. These ideas may entail liberalizing the operational or business procedures and appropriately using the accessible resources among others (Bell & et al., 1988).
A Detailed Analysis of a Business Situation and the Use of Ethical Theories
The existence of varied ethical theories often advocates supporting either the consumers or the industries in the land of free trade. In the context of determining the viewpoints of the public regarding the treatment of the industries equally, the Utilitarian theory can be used. This particular ethical theory tends to maximize product utility and lessen any sort of negative aspect associated with the product. With regards to analyze a specific business situation with using the aforesaid ethical theory, one of the candy or chocolate producing companies named Cadbury has been taken into concern. The business situation of the company can be apparently noted as making effective decisions in parallel to the land of free trade for reaping several significant benefits. These decisions are often observed to be practicing ethical standards in the workplace and offering products of cheaper price to the customers. In this regard, the Utilitarian theory can be used in this particular business situation, as the company tends to make decisions based on which profit can be maximized and the adverse risks can be mitigated at large (Bell & et al.,1988).
Conclusion
From the above analysis and discussion, it can be ascertained that with the gaining momentum of globalisation and the roles play by capitalism in this present day context, the perceptions of the people treating industries equally mainly differ on a broader context. Thus, to conclude, it can be affirmed that the reasons including the necessity of offering low-price products to the customers and the changing roles of capitalism in this present day context eventually make the people to view industries unequally.
References
Frank, J. (2007). Wages and bottlenecks: free trade, ethics, and information: reconciling international trade with national ethical standards proceedings of the conference on globalization and its discontents. State University of New York, 1.
Bell, D. E., Raiffa, H., & Tversky, A. (1988). Decision making: descriptive, normative, and prescriptive interactions. USA: Cambridge University Press. Read More
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