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Business Challenge

Essay by   •  June 16, 2012  •  Essay  •  1,975 Words (8 Pages)  •  2,208 Views

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Business challenge 1: pg 26-27

1. Acme first had to face the ethical issue of bribery. Frank and Amber were both aware their way of doing business was unethical. However, Amber was confident that the unethical actions would never get out. So far the business deals between Acme and Thermocare have been successful. Nevertheless, there is no assurance for the upcoming success. Moreover, as Thermocare's buyers-Otis-seemed to be asking for more personal benefits as additional deals were made, Acme would probably have to face misallocation of resources or corruption. Amber may seek funds from other projects or worst, steel money from Acme, to bribe Otis.

2. In order to make ethics a part of its core organizational values, Acme should first create a written documents, such as the company's "code of ethics", which clearly states the core ethical values of the company, broad ethical principles and ethical standards, acts as a guide to conduct ethical activities and resolve ethical issues and dilemma.

Since Acme possesses a top-down corporate culture, it should focus more on the process of hiring talented managers, as their roles are crucial to Acme's ethical environment.

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3. Frank should bear in mind the ethical issues that he would have to face. It can be clearly seen that Frank has chosen to bribe Thermocare's buyer when facing his ethical issues of whether to bribe or not. By doing such action, Frank has also put his own interest over the company's interest. Frank needs to be aware of his responsibility to Acme, because if Thermocare's profit is affected by Otis's contracts, an investigation will probably be conducted, which in turn can lead to legal problems for Acme Corporation.

4. Frank can choose either follow normal ways of conducting business or use bribes to buy his way through difficulties.

a. Frank chose not to bribe Otis:

- Normally persuading Otis to sign an additional contract may take a lot of efforts, since it was not clear whether Thermocare's business was better off because of the contract with Acme or not, and Thermocare's buyer seemed to be whining for personal benefits. The worst case is that there can be no agreement between two parties.

- By devoting his efforts to persuading Otis, Frank was actually making progresses in developing his business skills. Moreover, he has avoid the potential charges for unethical actions, both for himself and for Acme.

b. Frank chose to bribe Otis:

- As mentioned in the passage, Frank has earned significant bonuses and letters of achievement from high level managers through his two successful contracts with Thermocare.

- Although using bribes may make it easier for Frank to conduct prosperous business contracts, in the long term, it can limit his business skill development, as the man seeks for easy and probably unethical solutions without putting efforts into finding the best one. Moreover, bribery will finally reduce fair competition and lead to higher price and lower quality for Acme's customers. In addition, Frank, Amber and Acme Corporation would have to face charges for unethical actions. Frank's and Acme's reputation should also be affected if the bribery is revealed.

Business challenge 2: pg 85-87

1. Joseph was facing bribery problems and conflicts of interest. His action would affect his and his wife's interest in an opposite way as it would affect Alcon's interest.

2. If I were Joseph, I would have three options: do nothing, bring the matter to the open, or talk to Kathryn.

a. I do nothing:

- If I do nothing, my job will be secure. In addition, my wife's job will also not be affected. Our financial situation will probably be better-off within the next few months.

- In the long term, bribery leads to reduced quality of products and higher price for customers. Thus, this will limit the company's growth potential. In the end, it will affect my career.

b. I bring the matter into the open:

- If I state clearly that giving kickbacks for buyers are against policy, and such practices need to be prohibited, many employees may agree because kickbacks affects fair competition within the company, which affects equality in business. Besides, kickbacks also harm the company's long term benefits. Alcon may redesign their policies to provide more details about kickbacks, which will make the company better-off.

- However, as the vice president has the tendency to shoot the bearers of bad news, I may be fired. Thus, my wife job with Kathryn may also be affected. We will probably have to face a much more difficult financial situation.

c. I arrange a private talk with Kathryn:

- Talking to Kathryn will provide more information and even guidance for my decision. It will release me from the responsibility of choosing the right option, as Kathryn may just tell me what to do.

- Kathryn option, nevertheless, may not be the best one as Kathryn faced financial pressures to keep Alcon in profit, and also faced a conflict of interest, because Carl is her son-in-law. Moreover, talking to Kathryn may be dangerous because there may actually be tacit clearance from her for Carl to give kickbacks for buyers.

3. Before making my decision, I would need more information about the buyers who have received kickbacks from my employees, to better understand the business norms, as well as business rules and regulations here.

4. The ethical problems lie in the decision making area and management area ( ko chắc lắm, khó quá ^^)

Business challenge 3: pg 116-118

1. Albert needs to be aware of the following ethical and legal issues:

- Corporate intelligence:

Albert used his relationship with his uncle to access unethically and illegally information in many law offices for the stakes of him and his clients, which can be considered physical hacking. In addition, he also needs to be aware of insider information if he decides to give Barry the IPO information. Also, Albert was facing both legal and ethical issues as the favor that Barry had done to him and his wife could be considered spinning.

- Conflicts of interest:

Albert invested in the company for which Mary's father worked, which can lead to future conflicts of interest.

- When Albert's

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