Question

In: Economics

Think of a firm at which you have worked. Do/did you consider this firm ethical? Give...

Think of a firm at which you have worked. Do/did you consider this firm ethical? Give specific examples of actions to justify your answer (DO NOT name the firm or any of the people in your examples!!)

Solutions

Expert Solution

Yes the firm is ethical based on following

a) customer oriented

since the firm was biscuit manufacturer it always focussed on the customer requirements. to ensure that the products it is selling are as per customer needs it always conducted a sample check (door to door interviewing technique, selling samples, feedbacks). it helped the firm to produce what customer needs.

b)Integrity

the firm always did best possible to maintain integrity. it adhered to laws and regulations at the local, state and federal levels. did all the required disclosures and filings on time without any delays. even it always had an internal audit to ensure that there are no loopholes.

c) respecting associated parties

the firm paid due respect to all the related parties like employees, vendors etc. It has a policy of taking employees opinion before making any decisions. It kept a drop in box where in employees could drop in there suggestions and the best one was rewarded. it ensured timely payments to vendors and paying employees salaries on time.

d) strong top management - the top management of the firm is strong. The top leaders have been selected wisely, they are mostly professionals with good experience in field. They conducted regular board meetings to keep a check on working constantly.Also the leaders were well equipped to guide juniors and always gave clear instructions which eliminated confusions.

Above all represent that firm is ethical.


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