Not All Companies Are Viewed As Equal Due Week 4 And Work

Not All Companies Are Viewed As Equaldue Week 4 And Wort

Assignment 1: Not All Companies Are Viewed as Equal Due Week 4 and worth 175 points In the land of free trade, the public does not view all industries as equal. Do you believe that is ethical? Do you believe that some industries are unfairly targeted? Should it be consumers’ choice to partake in products that are not healthy for them, or do those companies have an ethical obligation to protect people? In this assignment, you will choose one (1) industry to write about.

Possible industries to research could be tobacco, soda, alcohol, casinos, or candy companies, just to name a few. Write a one and a half to two (1½ - 2) page paper in which you: Become an advocate for either the consumer or the industry. Prepare an argument explaining the major reasons why you support either the consumer or the industry. Explain the role capitalism plays in corporate decision making. Discuss if you believe it is possible for a company to cater to both its best interest and that of the consumer conjointly or if one always has to prevail.

Justify your response. Use at least two (2) quality references. Note: Wikipedia and similar Websites do not qualify as academic resources. Format your assignment according to the following formatting requirements: Typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides. Include a cover page containing the title of the assignment, your name, your professor’s name, the course title, and the date. The cover page is not included in the required page length. Include a reference page. Citations and references must follow APA format. The reference page is not included in the required page length. The specific course learning outcomes associated with this assignment are: Determine the considerations for and process of ethical business decision making to balance corporate and social responsibilities, and address moral, economic, and legal concerns. Analyze selected business situations using the predominant ethical theories, such as utilitarian, Kantian, and virtue ethics to guide ethical business decision making. Use technology and information resources to research issues in business ethics. Write clearly and concisely about business ethics using proper writing mechanics. Click here to view the grading rubric.

Paper For Above instruction

The ethical considerations surrounding the public perception of different industries in a free-market economy are complex and multifaceted. Particularly, there is a significant debate about whether it is ethical for society to scrutinize and sometimes unfairly target specific industries such as tobacco, alcohol, or fast food, which are often linked to health concerns. As an advocate for the consumer, I believe that consumers should have the autonomy to make their own choices, even if those choices involve products that may be harmful. This perspective underscores the importance of individual freedom and personal responsibility, core principles in a capitalist society.

From an ethical standpoint, the targeting of industries like tobacco and alcohol raises questions about fairness and the role of corporations in society. While these industries undeniably produce products associated with health risks, they also operate within a legal framework that permits their existence and profitability. Society’s perception of these industries often reflects moral judgments that can overlook the fundamental capitalist principle that companies are driven primarily by profit motives. Restricting consumer choice without providing adequate information or alternatives could be argued as an unfair intervention, infringing on personal freedoms.

Capitalism influences corporate decision-making significantly by prioritizing profit maximization and shareholder value. Companies in industries like tobacco or sugary beverages typically weigh the economic benefits of their products against the potential societal harm. While profit motives might conflict with health concerns, corporations that cater to consumer demand often justify their practices through the lens of freedom of choice and market efficiency. Nonetheless, ethical business practice entails a balance where companies can pursue profitability without causing undue harm to consumers, often through responsible marketing or transparency.

The possibility of companies catering to both their best interests and that of consumers exists, but it requires conscious ethical commitment and regulatory oversight. For instance, some corporations have adopted responsible marketing and product reformulation to align profit motives with consumer welfare. Initiatives like reduced sugar content or transparent labeling exemplify efforts to harmonize the two objectives. However, in many cases, economic incentives tend to dominate decision-making, leading to situations where one interest outweighs the other. Therefore, while it is possible for companies to serve both interests, it often depends on the regulatory environment, corporate ethics, and consumer advocacy.

In conclusion, the debate over the ethicality of industry targeting and consumer autonomy hinges on the broader context of capitalism and corporate responsibility. Supporting consumer choice respects individual freedom but requires adequate information and ethical marketing practices. Balancing corporate profitability with public health is ideally achievable through responsible business practices and appropriate regulation, ensuring that neither interest unduly dominates the other. Ethical business decision-making must consider moral, economic, and legal factors to promote a fair and responsible marketplace.

References

• Friedman, M. (1970). The social responsibility of business is to increase its profits. The New York Times Magazine.
• Hill, C. W., & Jones, G. R. (2012). Strategic Management: Theory: An Integrated Approach. Cengage Learning.
• Scherer, F. M., & Palazzo, G. (2011). The new political role of business in a globalized world. Critical Perspectives on Business Ethics, 6, 3-26.
• Shaw, W. H., & Barry, V. (2014). Moral Issues in Business. Cengage Learning.
• Crane, A., Matten, D., & Spence, L. J. (Eds.). (2008). Corporate Social Responsibility: Readings and Cases in a Cross-Cultural Context. Routledge.
• Sen, S., & Bhattacharya, C. B. (2001). Does doing good always lead to doing better? Consumer reactions to corporate social responsibility. Journal of Marketing Research, 38(2), 225-243.
• Freeman, R. E. (1984). Strategic Management: A Stakeholder Approach. Pitman.
• Rawls, J. (1971). A Theory of Justice. Harvard University Press.
• Resnik, D. B. (2012). Ethical dilemmas in business decision-making. Journal of Business Ethics, 106(4), 505-517.
• Velasquez, M. (2012). Business Ethics: Concepts and Cases. Pearson.