ETHICS IN THE BUSINESS WORLD.   Term Paper ID:30347 Click to get this paper

Essay Subject: Discussion of ethical issues using the example of Ford and Firestone.... More...

7 Pages / 1575 Words 12 sources, 20 Citations, APA Format $56.00 Return to List of Papers

Paper Abstract: Discussion of ethical issues using the example of Ford and Firestone. The companies' lack of disclosure regarding problems with Firestone tired on Ford Explorer vehicles that led to a series of deaths. Argues that Ford and Firestone put their company's profit over customer safety. Issue of consumers' rights vs. corporate cost and benefit. Paper Introduction: Ford and Firestone The infamous series of deaths attributed mainly to malfunction of Firestone tires on Ford Explorer vehicles provides a good platform for looking at ethics in the business world. Ethical issues address an individual and organizational moral conduct in many aspects of life. In the business world, it involves answering the question of whether we are acting "in good faith, promptly, fairly and equitably, whenever liability is reasonably clear" (Claims, 2001). If a business has a conflict of interest between being profitable and being unfair, then it is engaging in an unethical act toward the public. As in the case of Ford and Firestone, the company had apparently disclosed the truths from the public in hope of saving the company's long-built reputation. They were aware of the deaths and Text of the Paper: The entire text of the paper is shown below. However, the text is somewhat scrambled. We want to give you as much information as we possibly can about our papers and essays, but we cannot give them away for free. In the text below you will find that while disordered, many of the phrases are essentially intact. From this text you will be able to get a solid sense of the writing style, the concepts addressed, and the sources used in the research paper. Ethical issues address anindividual and organizational moral conduct conflict of interest between being profitable andbeing unfair from the public in hope of to solve their tire problems theirsolutions to get away withit Ford and Firestone put rights over their profits In this Firestone should not have deprived millions situation orwarn the public of this problem kept quiet by aseries of secrecy agreements signed as part had the truthhad been exposed sooner the and as the federal government started its probe Family secrecy agreementswere one part of to get through the crisis with theleast amount By keeping lawsuits opinions and evidence tire blow-out that causes severe to sue Bridgestone Firestone or Ford Schneider a Firestone officals such asPennsylvania Senator Arlen Specter He sounded a clarion to continue that is a reckless disregard for the Longley Research has revealed that as Another news report said that the Japanese injuries because they werebeing sued by the at an astronomicallevel at a figure far beyond causing the stalling Pattern Meanwhile Ford and Firestone's secrecy agreements atthe underlying problems Neither company announced the short run sales of both companies would probably have notonly their reputation but also their sales in the evidence from the Ford Firestone case is in the price of its exposure is always greater than profits and dividends and senior management positionsare retained or follow All companies should be held liable for any they should be made aware of people have faith in their products why else would they honest from the beginning and showed their use a product with such a bad reputation firm KPMG released in percent public trust Claims Unfortunately Ford and Firestone more costly than to be honest According to anindependent survey the issue is clear Firestone the tires If the recall had gone publicsooner it would ofits tires without being told Pittle Ford saying that the design of the problem An insurance-industrycommentator cites an Ethics suffer the livesof the people in also It becomes obviousthat both companies had from the World Wide Web June athttp www claimsmag com CommonDreams News Center originally published in in your hands Quality Progress Mokhiber R Weissman R September Ford Firestone Homicide Web June athttp www cbsnews com now Retrieved from the World Wide Web June athttp www Wide Web June at http www uslaw com library article Explorer vehicles provides a good good faith promptly fairly and equitably case of Ford and Firestone tires Schneider b yet they never brought this to not to publicize the problem Gonsalves Mokhiber Weissman Avoiding but they had an ethical responsibility to inform their customers lives Schneider b However I strongly had aproblem with defective tires however the families of victims and their lawyers knew of their rights If Ford and of unsafe products causedthe lives of many innocent people have the power and connections to hide the truth fromthe their prior knowledge about the defects of their products The appears therefore that these deaths werebusiness Obviously as the old saying goes it is better to agree that it is better not to suffer such an leads to different ways of handling the legalcase This has which might cause the loss of life or serious you have manufactured and distributed defectivetires and not immediately and therelevance of increasing or decreasing Claims Before the Federal government launched its probe in SafetyAdministration's top lawyer for defects and enforcement issues causing stalling while they were doing including what they found out during theinvestigation could actually save money through However I believe that if Ford and Firestone hadacknowledged their futuresales That is because people would still remain faithful to make a mistake and then money or why would they evenexist All companies withthe least cost But when ambition override s ethics I believe thatconsumers are entitled to enjoy company should usethe lives of the innocent in from problems with theirproducts As a consumer I would remain wouldswitch to other brands of tires rather for saving mylife Ethical problems are not confined to Ford during the previous year Almost halfbelieved that if those violations problems and then covering that up Not informing the consumers' trust in Ford and Bridgestone a along three lines First they should have been no needfor regulators to order the recall shifting blame Pittle Ford blamed Firestone for the thatthere is nothing wrong with making mistakes as the choices we make Claims the truth had been exposed earlier Thenumber nowthey must bear the cost References Web June athttp www crosswinds net vaxchoice beliefs News Retrieved from the World WideWeb June at http from the World Wide Web June athttp usgovinfo about com commondreams org views htm Pattern of Ford cover-ups September G a Are your tires safe Firestone and when didthey know it USLaw com erupts Detroit News Retrieved from the World Wide Web June Ford and Firestone The infamous series in many aspects of life In thebusiness world it then it is engaging in an unethical act saving the company's long-builtreputation They were aware of the took the form of under-the-table deals with the their company's profit over their customers'safety and lives case clearly the issue of corporate cost and of theirright to know about product safety It's been The result was more than deaths inauto accidents The of the company's legalsettlements Hush In other words the company result would have been different as far into the deaths a patternof unethical practices that The very fact that Ford of harm to either company with secret from the public the possibility of other injury or death can result in a large legal settlement and Ford did not agree however call to Ford and Firestone warning that when life of another He added that this rises to the bothFord and Firestone executives knew of owners Bridgestone had stacks of complaints which had families of the victims CBS News quoted Alan Kam whoretired any measure I have seen before Kamcontinued sometimes barredall parties including lawyers problem to otherconsumers One source speculates beenaffected The announcement would have long run Savingreputation means saving sales which directcontrast to what I believe They chose fixing the problem in thefirst place Schneider b lost depending on financial results There is nothing defective products theyproduce especially if they hazards and defects asearly as purchase the products That act of eagerness to solve the casewith a more ethical I wouldrather spend more money ofemployees across all industries said that they had witnessed failed all of the tests and violatedethics Brand done by the market research andFord should have admitted the circumstances have saved the lives of many people Second they shouldhave Third highest priority shouldhave been their Explorer is prone to rollover Schneider b for Adjusters course in which exchange for gaining profit from put profit first and consumers' rights last whiledeliberately Issues Jan claims asp Examples November Cape Cod Times Retrieved fromthe World Wide Web June at Longley R September Firestone Ford DOT and the law U Common Dreams News Center Retrieved from story shtml Pittle R D uslaw com library article TNPHealthInjCol tirefail html area id TNPHealthInjCol html Vlasic B September Rift between platform forlooking at ethics in the business world whenever liability isreasonably clear Claims If a business has a the company had apparently disclosed thetruths the public's attention Although the company had attempted publicity is just another name for wanting of theproblem and thereby prioritize their customers' believe that customers' rights should be takenseriously Ford and both failed to fix the about the allegeddefects in Firestone's tires the truth was originally Firestone had not covered up and lied and As Ford and Firestone were investigated public and escape through legal loopholes maingoal of both Ford and Firestone was as usual minimize losses and maximize profits be safe than sorry Although a accident simply for the right already been noticed by public bodily injury and they permit that situation informing the public is a violation of federalMotor Vehicle Regulations the inflation pressure in the tiresas early Ford andFirestone knew of at least deaths and on Ford'sconcealment of signs of failures that were occurring extensive studies showing they knew what was Hush Neither company did anything at all to look payments toindividuals without any public knowledge Schneider b In the mistakes earlier the companies would have saved the company'sproduct But of course try to bury that mistake want to make a name for themselves Shareholdersdemand increasing Examples problems are bound to rights and protections from themanufacturers and exchange for money and profit All companies should realize that a loyal customer of companies thatwere than staying with Firestone Whywould anybody want to and Firestone According toa survey done by the consulting were had been public their employerswould significantly lose public ofbad news is always Firestone company Vlasic That makes perfect sense because takencare of the problem by replacing or for Firestone to change the design tire it manufactured while Firestoneblamed long as one takes theethical responsibility and fixes For Ford and Firestone the most profitable choice was to of deaths and injuries would have decreased Claims-conscious iconoclast Ethics in the E-age January Claims Magazine Retrieved examples html Gonsalves S September Firestone the free market www cbsnews com now story shtml It's library weekly aa a htm terms motor vehicle CBS News Retrievedfrom the World Wide problems raisequestions of safety USLaw com Library Library Retrieved from the World at http detnews com autos a htm of deaths attributed mainly to malfunction ofFirestone tires on Ford involves answering the question of whether we are acting in toward the public Asin the deaths and injuries caused by its families of thevictims Their main concern was by concealing important information Schneider b benefit was inconflict with the consumers' rights safety and reported that Ford and Firestone knew that they Firestone crisis reveals that although many people including forced those who hadbeen injured to give up some asdeaths were concerned But consumers' ignorance in corporate America was revealed Mokhiber Weissman Big corporations and Firestone arrangedsecrecy agreements with victims' families without acknowledging liabilityexposes private settlements andwithout public outcry It people suffering similar fates increased Gonsalves or verdict most people would This not only raises manyethical questions but also corporate officials know there is a danger level of second-degree murder Schneider b Being aware that the danger of the tires simply been stuffed in adrawer after years as the National Highway Traffic They were telling the agency they didn't know what was who brought the lawsuits from discussingall aspects of the cases that they did the cost-benefit analysisand believed that they caused sales to fall intocompetitors' hands means saving more profit in to conceal the truth which was evenmore costly When you Big corporations are in business to make wrongwith making profit all businesses attempt to maximize their profit try to keeping defects a secret possible This is a life-and-death issue No faith meanscompanies should also protect the consumers approach Based on the behavior of Firestone I to purchase other brands in exchange violationsof the law or of company policy names and company reputations suffered because of actions inignoring firm Dohring Co therecall eroded of the accidents and deaths They should have proceeded been responsible in their own actions There should have given to solve the problem rather than There is no contradiction between mistakes and ethics I believe we discusschoice and accept responsibility for sales The outcome of thecrisis might have been different if trying to avoid being caught violating public trust And Investigating Vaccination The VaccineAwareness SiteRing Retrieved from the World Wide http www commondreams org views htm Hush money October CBS S Gov Info Resources Retrieved the World Wide Web June at http www December Lessons from Firestone Schneider N Schneider N G b What did Ford and Firestone know Ford and Firestone widens Consumer angst Ethical issues address anindividual and organizational moral conduct conflict of interest between being profitable andbeing unfair from the public in hope of to solve their tire problems theirsolutions to get away withit Ford and Firestone put rights over their profits In this Firestone should not have deprived millions situation orwarn the public of this problem kept quiet by aseries of secrecy agreements signed as part had the truthhad been exposed sooner the and as the federal government started its probe Family secrecy agreementswere one part of to get through the crisis with theleast amount By keeping lawsuits opinions and evidence tire blow-out that causes severe to sue Bridgestone Firestone or Ford Schneider a Firestone officals such asPennsylvania Senator Arlen Specter He sounded a clarion to continue that is a reckless disregard for the Longley Research has revealed that as Another news report said that the Japanese injuries because they werebeing sued by the at an astronomicallevel at a figure far beyond causing the stalling Pattern Meanwhile Ford and Firestone's secrecy agreements atthe underlying problems Neither company announced the short run sales of both companies would probably have notonly their reputation but also their sales in the evidence from the Ford Firestone case is in the price of its exposure is always greater than profits and dividends and senior management positionsare retained or follow All companies should be held liable for any they should be made aware of people have faith in their products why else would they honest from the beginning and showed their use a product with such a bad reputation firm KPMG released in percent public trust Claims Unfortunately Ford and Firestone more costly than to be honest According to anindependent survey the issue is clear Firestone the tires If the recall had gone publicsooner it would ofits tires without being told Pittle Ford saying that the design of the problem An insurance-industrycommentator cites an Ethics suffer the livesof the people in also It becomes obviousthat both companies had from the World Wide Web June athttp www claimsmag com CommonDreams News Center originally published in in your hands Quality Progress Mokhiber R Weissman R September Ford Firestone Homicide Web June athttp www cbsnews com now Retrieved from the World Wide Web June athttp www Wide Web June at http www uslaw com library article Explorer vehicles provides a good good faith promptly fairly and equitably case of Ford and Firestone tires Schneider b yet they never brought this to not to publicize the problem Gonsalves Mokhiber Weissman Avoiding but they had an ethical responsibility to inform their customers lives Schneider b However I strongly had aproblem with defective tires however the families of victims and their lawyers knew of their rights If Ford and of unsafe products causedthe lives of many innocent people have the power and connections to hide the truth fromthe their prior knowledge about the defects of their products The appears therefore that these deaths werebusiness Obviously as the old saying goes it is better to agree that it is better not to suffer such an leads to different ways of handling the legalcase This has which might cause the loss of life or serious you have manufactured and distributed defectivetires and not immediately and therelevance of increasing or decreasing Claims Before the Federal government launched its probe in SafetyAdministration's top lawyer for defects and enforcement issues causing stalling while they were doing including what they found out during theinvestigation could actually save money through However I believe that if Ford and Firestone hadacknowledged their futuresales That is because people would still remain faithful to make a mistake and then money or why would they evenexist All companies withthe least cost But when ambition override s ethics I believe thatconsumers are entitled to enjoy company should usethe lives of the innocent in from problems with theirproducts As a consumer I would remain wouldswitch to other brands of tires rather for saving mylife Ethical problems are not confined to Ford during the previous year Almost halfbelieved that if those violations problems and then covering that up Not informing the consumers' trust in Ford and Bridgestone a along three lines First they should have been no needfor regulators to order the recall shifting blame Pittle Ford blamed Firestone for the thatthere is nothing wrong with making mistakes as the choices we make Claims the truth had been exposed earlier Thenumber nowthey must bear the cost References Web June athttp www crosswinds net vaxchoice beliefs News Retrieved from the World WideWeb June at http from the World Wide Web June athttp usgovinfo about com commondreams org views htm Pattern of Ford cover-ups September G a Are your tires safe Firestone and when didthey know it USLaw com erupts Detroit News Retrieved from the World Wide Web June If this paper is not what you are looking for, you can search again: Search for: or Click here to request an essay written just for you.