Problem:
An upcoming meeting with your new company's chief executive officer (CEO) and other executives is a great opportunity for you to share your knowledge of potentially defective products being sold to customers. You are not sure if others are aware of this issue, and the defective products could possibly lead to serious injuries. To complicate matters, you are uncertain about your organization's ethical guidelines because none have been communicated.
How would you present this issue to the CEO, directors, and managers? What specific courses of action would you recommend with respect to internal actions and customer notification?
In the longer term, what can be done to ensure that a strong sense of business ethics permeates your company? Consider aspects of the organization's structure (such as adding an oversight function) as well as supporting policies and procedures.
Answer the following questions regarding the scenario described:
Q1. How would you effectively present the issue of potentially defective products to the CEO, other directors, and managers?
Q2. How would you specifically notify customers of such an occurrence?
Q3. What kind of internal actions would you take to prevent future problems?
Q4. What can be done to ensure that a strong sense of business ethics permeates your company?
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Some individuals who are engaged in international business transactions have reported a cultural component to ethics. You are working on opening a branch of a food distribution operation in a foreign country, and a local official suggests that a little cash would help your company get started.
Research international business and ethical standards, and answer the following questions:
Q1. In what ways can culture affect ethical standards and shape business behavior?
Q2. Is it ethical to take part in corrupt international business transactions? Legal? Explain.