BUSINESS ETHICS MIDTERM

Business ethics midterm

Business ethics midterm

Answer 1)

Malden Mills, a family business that produces textile and employed thousands of people in the same communities in which they manufactured their product. The company was founded in 1906 and over the years, has a good reputation of social responsibility in the community and a great concerned of its employers. The company's chief executive officer- Aeron Feuerstein believed the best way to run a successful company is through its employers. Making sure that the employers are treated as asset of the company, and making them feel as if they are part of the company not just a worker. Aeron Feuerstein feels deeply committed to its employers, and the communities than just the everyday operation of the company. Companies, regardless of size are in the business of making money, and stay competitive by increasing market share. When a chief Executive Officer deviates from the idea of making money, or searching for new way to stay competitive to employer's satisfaction and the community then that company is bound to fail. Aeron Feuerstein showed too much concern of his employers and the community and got blindsided of actually solving the financial problem that the company was facing during the fire accident.

Malden Mills is a manufacturer company that produces textile, employed thousands of people, and even considered the biggest textile company in New England. A company like Malden Mills Safety has to be paramount. Especially when dealing with all kind of different chemicals and machines that generate heat and cough fire easily. Malden Mills failed to improve its safety measures especially in the flock department where the fire broke out. The folk department has been a hazardous work environment for employers.

The majority of the power rested on the owner of the company. The decision taken for the company was a sole decision by the owner and no other person.

Narva (2001) offers up the suggestion that "most companies would have shut down and moved", possibly taking their operations overseas to save money on the rebuilding process. That's what makes Malden Mills so different, they stayed, rebuilt and reopened in the same place as before plus returned their displaced employees back to work (Sledzik, 2010). All in all, Feuerstein handled the crisis perfectly but he may have failed to see the long-term consequences which should have been taken into account.

Ought implies can is relevant to the evaluation of Feuerstein-led Malden Mills' insolvency because, to the extent that Feuerstein's actions on behalf of Malden Mills in the wake of the 1995 fire are responsible for the firm's subsequent insolvency, it suggests that one cannot sustainably manage Malden Mills (or other firms similarly-situated to Malden Mills) in the manner that Feuerstein and, by extension, Feuerstein-impressed CSR advocates claim one ought. If ought to imply can and one cannot, then it is not the case that one ought. Those claiming that one ought to do so anyway advance a claim in contravention of ought implies ...