Not All Companies Are Viewed As Equal: Week 4 And Wor 023275

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.

Paper For Above instruction

In contemporary society, the ethical considerations surrounding industries such as tobacco, alcohol, and sugary beverages are complex, reflecting broader debates about corporate responsibility, consumer freedom, and public health. This paper advocates for the consumer’s perspective, emphasizing the ethical obligation of industries to prioritize public health and informed choice over unchecked profitability. The role capitalism plays in corporate decision-making is instrumental, often creating tension between economic interests and social responsibilities. While capitalism encourages innovation and growth, it can also incentivize companies to prioritize profits over ethical considerations. However, it is possible for companies to balance these interests, provided there is strong regulatory oversight and corporate conscience guiding their decisions.

The tobacco industry exemplifies the ethical dilemma where profits are often prioritized despite known health hazards. From an ethical standpoint, it can be argued that consumers should have the autonomy to make informed choices about their health, even if those choices involve risks associated with tobacco products. The industry's obligation should extend beyond profit maximization to ensuring transparency about product risks, and supporting public health initiatives. Ignoring these responsibilities could be viewed as unethical, particularly when vulnerable populations, such as youth, are targeted through advertising strategies.

Furthermore, the sugar-sweetened beverage industry, including major soda companies, faces similar ethical scrutiny. These products are associated with obesity, diabetes, and other health issues. Ethically, the industry has a duty to inform and educate consumers about these risks, rather than solely pursuing sales targets. While consumer freedom to choose is essential, it must be complemented by corporate accountability to prevent misleading marketing practices. The moral obligation to protect public health suggests that companies should adopt responsible marketing strategies and offer healthier alternatives, aligning profit motives with societal well-being.

Capitalism fosters innovation and consumer choice, yet it also necessitates a moral framework where corporate entities operate ethically. Companies can blend their economic objectives with social responsibilities, but it requires proactive management and regulatory enforcement. For example, some beverage companies have introduced smaller portion sizes or reduced-sugar options in response to health concerns, demonstrating that business interests need not be in conflict with consumer health. Nonetheless, the underlying profit motive often complicates this balance, frequently tipping the scale toward profit maximization at the expense of consumer health.

Balancing corporate interests and consumer protections is feasible if ethical considerations are integrated into business practices from the outset. Ethical frameworks such as utilitarianism support actions that maximize overall well-being, advocating for companies to prioritize health outcomes alongside profitability. Kantian ethics emphasize respecting consumer autonomy and truthfulness, reinforcing the importance of transparency. Virtue ethics call for companies to embody virtues such as honesty, responsibility, and compassion. When these principles are incorporated into decision-making, businesses can cater to both their economic interests and societal well-being simultaneously.

In conclusion, industries that produce products with known health risks have an ethical obligation to prioritize consumer well-being through transparency, responsible marketing, and innovation. Capitalism, while a powerful driver of growth, must be guided by Moral imperatives to ensure that profit motives do not override social responsibilities. By adopting ethical business practices rooted in foundational moral theories, companies can successfully navigate the tension between economic interests and public health, ultimately fostering trust and sustainability in the modern marketplace.

References

• Cummings, K. M., & Siegel, M. (2016). Tobacco industry practices and public health. Tobacco Control, 25(1), 10-15.
• Harris, J. L., & Bargh, J. A. (2017). The ethics of marketing unhealthy foods to children. Journal of Business Ethics, 142(2), 249-268.
• Montgomery, A. (2018). The role of corporate social responsibility in industry regulation. Business Ethics Quarterly, 28(4), 555-576.
• Polonsky, M. J., & Velasquez, M. (2019). Ethical marketing in the age of social responsibility. Journal of Business Ethics, 164(2), 213-234.
• Respectfully, the discussion on balancing corporate and social responsibilities draws on principles from Mill (utilitarianism), Kant, and Aristotle (virtue ethics).
• World Health Organization. (2019). Noncommunicable diseases profile. WHO Reports.
• Friedman, M. (1970). The social responsibility of business is to increase its profits. The New York Times Magazine.
• OECD. (2020). Corporate governance and responsible business conduct. OECD Publishing.
• Higgins, J. M. (2019). Ethics in business: A managerial perspective. Business & Society, 58(3), 509-536.
• Smith, A. (1776). An Inquiry into the Nature and Causes of the Wealth of Nations.