Rent-Way Case Essay

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Read the Case “Rent-Way Slides Away” found in Chapter 6 and answer questions 1, 2 and 4. Make certain you thoroughly explain your reasoning and support your claims with facts from the case. Number your answers. You will either submit your assignment as a Microsoft Word document or attach the file below using the "Add Attachments" button, or you will use the text box available for the assignment. Your instructor will provide guidelines regarding which of these options he/she prefers. Remember to answer the questions using the facts of the case and the concepts introduced in the textbook and any additional readings. You must also clearly explain your reasoning. Number your answers. 1. What do you think of the ethics of Rent-Way’s basic business model of rent-to-own that focuses on low-income people? The basic business model that Rent-Way has of rent-to-own that focuses on low income people in unethical. It was unethical because the top deputies forced an employee to cook RentWay’s books for three years. The social responsibility of business is to increase its profits while maintaining integrity and loyalty to its consumers. Since responsibility is a human characteristic then it is the duty of the managers to ensure they meet the desired outcome of the owners/executives. In most instances the desired outcome is to make as much financial profit while adhering to all business laws and ethical practices. Business ethics relates to the good or bad things that occur in business practices. Many times the bad situations that may arise do not happen on purpose and the effects that they have on the consumer may be short lived. In other cases unethical behavior is very hazardous to the consumer as a result of the corporation wanting to make a profit. “A written code of conduct is more likely to influence behavior when both formal and informal leaders throughout
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