Question

What is the relationship between law and ethics? Provide at least two contemporary business examples of how an act can be legal yet unethical.

Considering cultural differences, analyze the ethical pros and cons related to overseas manufacturing for a company such as Nike.

Answer 1

Relationship between law & ethics

Based on society's ethics, laws are created and enforced by governments to mediate our relationship with each other, and to protect its citizens.law set minimum standard of behaviour whereas ethics set maximum standard of behaviour.

Example how an business act can be legal yet unethical

1.Paying minimum wage to full-time employees is one of examples. Although the minimum wage in an at-will employment agreement is legal, those working for minimum wage often cannot manage their day-to-day expenses, leaving them buried in debt is so unethical.

2.Marketing tactics can walk a fine line between persuasion and manipulation, and this is another area where subjective ethics come into play heavily. Some marketing tactics can take advantage of uneducated segments of the population, which can be perfectly legal Yet unethical.

Ethical Pros & Cons of NIKE manufacturing company:

Pros

1.mega brand:-What started as a shoe company has changed into a global powerhouse,with products that now include apparel, equipment and accessories and Nike continues to be the world’s largest athletic footwear and apparel operator.

2.Research & development:-Nike makes large investments in this category. As a result, the company is often an innovator in areas that improve performance and comfort. This requires a staff with deep expertise.

3.Emerging market:-for some time, Nike has been making investments in markets like China, India and Brazil. These countries are undergoing strong increases in wealth – which should bode well for premium athletic wear.

Cons

1.competition:-Even with its scale, Nike has lots of pressure from rivals. The main ones include companies like Adidas and Puma.

2.costs:-Nike has felt the pressure from the inflation in raw materials, such as cotton.Transportation costs have also been rising. To deal with these problems, Nike has increased prices and cut its marketing budget.However, this could hurt the long-term growth of the company.

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