According to Investopedia, a stakeholder is a party that has an interest in an enterprise or project. The primary stakeholders in a typical corporation are its investors, employees, customers and suppliers. However, modern theory goes beyond this conventional notion to embrace additional stakeholders such as the community, government and trade associations. (Investopedia 2012) The familiar obstruction that develops with having several stakeholders in an organization is they have an assortment of self - motivating agenda’s that may not be congruent to each other. The fact is that they or more than likely in discord with the other faction.
Lawanda Brown LS 312-01 Ethics and the Legal Environment Assignment 4: Amtrak Case Study Professor Clyde Craig October 13, 2013 The Wreck of Amtrak’s Sunset Limited was an accident due to poor judgment and human error. People who use public transportation either to go to work or for personal reasons are stakeholders. When corporations do not take care of difficult situations in a timely and proper manner the CSR creates bigger problems.” CSR is a business practice that demands that business organizations look to the effect their decisions have on multiple stakeholders.”(eGuide 2013, pg 3). In the case study of Amtrak the crew members, passengers, mariners, perhaps the communities where the tragedy happen, and the places where Amtrak provides service is all stakeholders. The stakeholders in this case was to have a safe trip while the interest for the crewmembers was not to have anything go wrong that could cost them financially.
The devastating tragedy of 9/11 left all of America mourning. The horrific event opened the eyes of Americans, the fact that America was not invincible shocked many. The realization that the country was not undefeatable led to drastic changes. Post 9/11 security was increased, racial profiling became common, and foreigners were misjudged. The threat of terrorist attacks changed American culture immensely; the devastation wakened the need for protection and a sense of security.
The Buffalo Creek Flood killed many people in the February of 1972. After the flood, Pittston not only didn’t admit the responsibility, but also claimed it as a natural disaster, called it “an act of god,” and later on claimed and blamed that the Buffalo Mining Company was a separate division altogether and that Pittston couldn’t be responsible for its actions. Furthermore, since Pittston rushed to settle the survivors with only 4000 dollars for the survivors from the flood, the survivors are angry with that. So it triggered the survivors to look for a law firm that is Arnold & Porter, and to represent them and seek for justice. After the flood, many people lose everything, and they had no choice but to accept these offers because they couldn’t wait until the lawsuit to follow through, not even guarantee that they will be compensated or win lawsuits.
Before 2002, this was never done and that is what lead to a lot of these big corporations downfall. After SOX became in affect, it made it almost impossible for officers of these major corporations to “play stupid”. They require, not the company but the law now requires the officers not to just believe that someone else has completed the financial records, but they have to know for sure that everything has been done correctly, they have to sign off on all of the financial paperwork. The law also mandates that any stock holders in the corporation have rights to have the auditors come in and conduct there own financial statements and conduct audits as well. The SOX act is governed by eleven titles that make up the rules and guidelines and some are considered to be more important than the other.
While it can be expensive for my Broadway Café to eliminate any single point of failure in my IT infrastructure, having this in play can possibly be the only way I know for sure that a hardware failure will not interrupt my service or cause data loss. Backing up my data regularly can help me to eliminate any interruptions in case of IT infrastructure failures. Then of course there is human error. While this is among some of the hardest mistakes to prevent and correct, ensuring my data is regularly backed up allows me to restore it to an error-free state. As much as we wish we were, people are not perfect and can easily overlook an important step in a process and accidentally delete data or enter the wrong data.
As a member of the Ford Company, should I have to decide on recalling the vehicles or settling the case in which injury occurred I will take the option of recalling the vehicles. Yes, the decision will have an impact on the company financially but ethically it would be the right thing. Human lives are more valuable than money. Placing dollar values on human lives allowing them to die or be seriously injured rather than pay the cost to repair faults in vehicles is unethical. Consumers and society look at organizations to be trustworthy, responsible and held accountable for all their actions.
The attack was a very tragic and hurting time in American history. Everyone understands that people are going to have disagreements or even hate people, but that is no reason to kill many innocent people over a few simple things that those people can’t help nor
2). In other words, Sharp and Cartwright believe that even though many people were aware that something catastrophic was occurring, they still did nothing to prevent it; moreover, the acts of “nothing” has given a greater advantage towards the spread of genocide. Sharp and Cartwright’s theory that the spread of genocide is due to inaction is extremely useful because it shreds insight into the difficult problem of the genocide dissemination. Similar to Sharp and Cartwright’s theory, Elie Wiesel, a concentration camp prisoner from the Holocaust of World War II, mentions his memories in Buna, a concentration camp where he was imprisoned with his father; moreover, he notes that several times within a
Accident Cost Iceberg Accidents are common at workplace, and thus the cost of accidents should be a major concern to the employers of any organization. In fact, many people do not always realize that the accidents are costly, both from the aspects of human tragedy as well as direct and indirect costs. The profits of an organization can actually be affected and reduced radically due to a series of costly accidents. This is because accidents have direct and indirect costs. Direct costs include workers compensation insurance premium for medical bills, liability insurance cost, and property related insurance costs; whereas indirect costs include various disruptions to normal work, transportation for first aid, wages paid to injured worker for time not worked, loss of crew efficiency, and OSHA and civil fines.