Discuss the below:
Ethics Quiz:
Reed Engineering Highly competitive bid opportunity Pennings (Reed Partner) recommends Reed submits competitive bid Can still make a profit however low Firm will have to use inferior materials Will not significantly increase the risks of fire and building collapse Will not arouse suspicions of building inspectors Believes any firm bidding on the contract is in the same boat Pennings background: Undergraduate Business degree MBA with finance concentration Reed (Senior Partner) approves bid submission What is your opinion of Reeds actions? Deontological Docs Recd have a duty to avoid using inferior materials? If inferior means less than the best, most analysts disapprove Teleological Egoistic Strongly supports approval of Reeds decision. Believes company will lose business if it doesnt bid, buys into all of Pennings arguments Utilitarian -Key questions: Risk of physical harm to employees; If accident happens, this approach would strongly disapprove of Reeds decision Virtue-based Some might argue that Reed is violating several virtues such as honesty, integrity, and transparency Would a good person deliberately deceive the building inspectors Highly competitive bid opportunity Pennings (Reed Partner) recommends Reed submits competitive bid: Can still make a profit however low Firm will have to use inferior materials Will not significantly increase the risks of fire and building collapse Will not arouse suspicions of building inspectors Believes any firm bidding on the contract is in the same boat Pennings background: Undergraduate Business degree MBA with finance concentration Reed (Senior Partner) approves bid submission What is your opinion of Reed's actions? Deontological: Docs Reed have a duty to avoid using inferior materials? If inferior means "less than the best, " most analysts disapprove Teleological: Egoistic - Strongly supports approval of Reed's decision. Believes company will lose business if it doesn't bid; buys into all of Penning's arguments Utilitarian - Key questions: Risk of physical harm to employees; If accident happens, this approach would strongly disapprove of Reed's decision Virtue-based: Some might argue that Reed is violating several virtues such as honesty, integrity, and transparency Would a good person deliberately deceive the building inspectors