Ethics, Social Responsibility And Pricing Objectives

Jeana Webster AC1702726 Co1 Introduction to Business Assignment 04: Ethics, Social Responsibility and Pricing Objectives June 7, 2017 PART A 1. MKD demonstrates ethical behavior towards their employees in the following. First, MKD must have an existing code of ethics/conduct in place. The captain would be directly violating this code of ethics by failing to report a leakage, therefore should be held accountable by MKD. As stated when the captain was hired, in the instance of any possible environmental hazard, immediate reporting is required for MKD to uphold their social responsibility to the public. Secondly, in order for MKD to act ethically towards their employees they would need to ensure safe working conditions.†¦show more content†¦Failing to act immediately could negatively impact the company and could lead people to believe their practices are unethical. The public could begin to believe that greed is more important to MKD than the environment and that they don t take their stance on social responsibility seriously. MKD must admit fault and restore the damages they caused or lose the support and trust o f the public. Protecting the environment is vital and the general public will believe that a dent in MKD s wallet is more important than their responsibility towards the environment if MKD refuses to claim responsibility or take timely action. 3. MKD can take multiple stances on how they are going to respond to this dilemma and each one will end in different results. Hypothetically, if MKD adopts an Obstuctional stance, this could mean that they were aware the entire time of the ships leak and chose to ignore it. It could have been caused by faulty systems or intentionally disregarded due to a financial burden that it would place on the corporation. The cost would come from either repairing a known problem or from implementing preventive safety measure. MKD would have made a decision to not act on the leak in hopes they wouldn t be found out. The media and environmental groups are aware of a problem now, but if they take an obstuctional stance the company will do everything in their power to notShow MoreRelatedMarketing and Strategic Elements1031 Words   |  5 Pagesintegrated in cross-media including television, print and radio. How do ethics and social responsibility help a firm achieve market place success? Ethics and social responsibility are becoming increasingly more important in today’s business world. Companies used to view ethics in terms of compliance with legal standards; however, companies are now realizing they need to focus more on ethics and social responsibility to win over their customers. 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