In the video, “Ethical Scenarios: Improving the Bottom-Line of a Business”, by Professor Bassell, they discuss ethical dilemmas. There are many questions businesses have when it comes to doing what is ethically right versus what will bring more profit. For example, I am the CEO of a chicken-processing company and I am faced with the dilemma of whether or not to add the words “free range” to my products being it will “greatly improve profit margins” (Prof. Lewis). The ethical issue is that legally I only need to open the door to the hen house for five minutes a day to have my chickens considered “free range”. This would be a complete deception of the customers because most chickens do not even leave the door within those five minutes and therefore
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Being there is such a shortcut to an increase in profit margins, it is hard to turn my back on this opportunity simply based on ethics. In the video it is mentioned that greed is bad, but in moderation it has the ability to be productive, I need to find a way to make my greed into the “good” type and not allow it to drive me to do the wrong thing. By putting the situation in perspective, I have a few options of what to do from here. First and foremost, I can let myself be guided by greed and let my chickens out for only five minutes, label them “free range” and watch as my profit margins rise. This will increase the shareholders’ value because the stock of my company will rise dramatically due to the new label. Labels draw customers in and those customers who care about animals or whom believe free range to be better for them will probably be more likely to buy my product over another company’s even if the price has increased 20%. This decision also goes according to economists who teach that the rational choice is to make more money. Even if it might mean labeling our products with a white lie, it is what is acceptable and therefore it is an option as to what should be done in this situation. And on top of everything, I am not doing anything illegal and therefore I should be able to write free range without any guilt. If it is legally …show more content…
It has been proven time and time again that customers are easily sold through magazine Ads and Television commercials. This will cause a rise in profits and will be a benefit to the shareholders and the stakeholders who have now found a new delicious product. This is also beneficial because it is not losing the customers trust and it is gaining new customers that they never had before. They are using the world of advertising for their benefit without going against any ethics or defying any laws. They are not putting any chickens at risk and they are not losing in any way, only gaining. Of all the options on the table: ethical, unethical, legal or illegal, this is the one that will bring in the most profit while still complying with all the legal and ethical
Being there is such a shortcut to an increase in profit margins, it is hard to turn my back on this opportunity simply based on ethics. In the video it is mentioned that greed is bad, but in moderation it has the ability to be productive, I need to find a way to make my greed into the “good” type and not allow it to drive me to do the wrong thing. By putting the situation in perspective, I have a few options of what to do from here. First and foremost, I can let myself be guided by greed and let my chickens out for only five minutes, label them “free range” and watch as my profit margins rise. This will increase the shareholders’ value because the stock of my company will rise dramatically due to the new label. Labels draw customers in and those customers who care about animals or whom believe free range to be better for them will probably be more likely to buy my product over another company’s even if the price has increased 20%. This decision also goes according to economists who teach that the rational choice is to make more money. Even if it might mean labeling our products with a white lie, it is what is acceptable and therefore it is an option as to what should be done in this situation. And on top of everything, I am not doing anything illegal and therefore I should be able to write free range without any guilt. If it is legally …show more content…
It has been proven time and time again that customers are easily sold through magazine Ads and Television commercials. This will cause a rise in profits and will be a benefit to the shareholders and the stakeholders who have now found a new delicious product. This is also beneficial because it is not losing the customers trust and it is gaining new customers that they never had before. They are using the world of advertising for their benefit without going against any ethics or defying any laws. They are not putting any chickens at risk and they are not losing in any way, only gaining. Of all the options on the table: ethical, unethical, legal or illegal, this is the one that will bring in the most profit while still complying with all the legal and ethical