Robbin Industries is jeopardizing itself by not properly reporting the advertising costs. As an operating company, they must understand the generally accepted accounting principles and adhere to them (Weygandt, Kieso, & Kimmel, 2010). (c) What would you do if you were Wayne Terrago? Wayne Terrago should try to report the financial condition and results of operations fairly and in accordance with the generally accepted accounting principles. As controller, Wayne should inform management and understand what is acceptable according to the GAAP.
Thomas v. Union Carbide Agric. Products Co. 473 U.S. 568 (1985) Judicial History: Under the authority of the Environmental Protection Agency (EPA); Federal Insecticides, Fungicides, and Rodenticide Act (FIFRA), manufacturers were required to register their pesticides. EPA had a “me-too” process that allowed for the pesticide equivalent of generic drugs. Monsanto Corporation sued because EPA was making them publicize trade secrets, which they claimed was a taking. Congress reiterated in Section 3(c)(1)(D)(ii) of FIFRA that EPA should make administrative decisions about how much money these manufacturers would get for damages from loss of their trade secrets.
How might a company be rewarded or punished for making an ethical or unethical decision? DQ 3: Review the case study “It Seems Right in Theory but Does It Work in Practice?” in Perspectives in Business Ethics. How is ethical theory applied in practice? DQ 4: Review the case study “Where and Why Did Business Ethicists Go Wrong? The Case of Dow Corning Corporation’ in Perspectives in Business ethics.
So he could have power to control the railroad business which was one of the biggest industries and corrupted business. He also gave the pressure to congress to make them pass the “Pure Food and Drug Act” and the “Meat Inspection Act”. Because of these Acts, adulteration and mislabeling food, alcohol, and drugs were prevented. People could ensure that the foods and drugs are safe and healthy. This was the second element of “Square Deal”, consumer protection.
It makes sense that the government should take actions to stop monopolies from doing the things the Sherman Act makes illegal. Then I read an article by Milton Friedman published during the time of the trial titled “The Business Community's Suicidal Impulse” (which I’m betting you’ve read). He makes a good argument for how enforcing antitrust laws tends to lead the way to regulation of an industry which may hurt competition and cause more harm than good in the long run.
The main purpose of this article is to discuss the Caux Round Table (CRT) Principles for Responsible Business which has described moral standards for suitable behavior in the workplace. Breaks in company honesty, whether among a small amount or a lot of individuals, compromise the beliefs of workers and for this reason the ability of an organization to provide people’s needs. The main idea of the article is to determine a universal code of ethics in the CRT and talk about the standards for behavior in the workplace. The most important information in this article is the principles themselves and the similarities and/or differences to Jerry White’s Biblical guidelines. The first principle of CRT is to respect stakeholder beyond shareholders
He uses logos to point out our moral responsibility to make sure workers receive fair compensation and sanitary working conditions. He uses pathos when describing unsanitary conditions, child labor, and unfair worker compensation. He states his thesis in the fifth paragraph after he describes the poor working conditions created by corporations whose sole interest is increasing profits. He organizes his argument by first describing the consumers and then describing sweatshops. The main argument against increasing the wages of these workers is that it will have a negative impact on the developing world because workers will lose their jobs.
The guidelines and provisions set within the Ford Motor Company’s agreement with the UAW would bind them legally to fulfilling their obligations. The impact the economy would have on the Ford Motor Company was significant labeling the company, the weakest of the three automakers with affiliation to the UAW (Lucas & Furdek, 2010). During this timeframe, the Ford Motor Company would undergo changes which would present obstacles in regards to legality. In terms of downsizing to cut cost, the company would consider laying workers off and employment termination. However, these lay-offs and terminations would need to be upheld with evidence that would support and justify letting an employee go or the Ford Motor Company could potentially experience
1. Does a corporation owe its first loyalty and moral responsibility to the financial interests of its owners or to the local community and its employees who are affected by its operations? Based on the Union Carbide and the Bhopal Disaster case, there are a few ethical theories that can be used to argue such as egoism, utilitarianism, ethic of care and virtue theory. Ethical egoism is part of consequentialist theory that focuses on consequences when making judgement. Ethical egoism is the prescriptive doctrine that all persons ought to act from their own self-interest (Philosophy.lander.edu, 2001).
"China has been known to violate the intellectual property rights related to technology, goods, and services, harming the companies from which it steals. Make a recommendation on how a U.S. company that has fallen victim to this Chinese practice should respond so as to protect its intellectual property." The US companies must set up their own manufacturing and trade rules and laws and enforce them in order to have more access and freedom