Business Ethics and Decision-Making for Personal Integrity Social Responsibility-Libre

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Hartman: Business Ethics: Decision−Making for Personal Integrity and Social Responsibility

1. Ethics and Business

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© The McGraw−Hill Companies, 2008

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Ethics and Business
Good people do not need laws to tell them to act justly, while bad people will find a way around the laws. Plato It is difficult to get a man to understand something when his salary depends upon his not understanding it. Upton Sinclair

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Hartman: Business Ethics: Decision−Making for Personal Integrity and Social Responsibility

1. Ethics and Business

Text

© The McGraw−Hill Companies, 2008

Opening Decision Point Loyalty after a Crisis: Should Aaron Feuerstein Rebuild and Pay His Employees in the Meantime?
2 Chapter 1 Ethics and
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Malden Mills was the last major textile manufacturer in town, and with 2,400 employees it supplied the economic lifeblood for the surrounding communities. With both its payroll and taxes, Malden Mills contributed approximately $100 million a year into the local economy. As CEO and president, Aaron Feuerstein faced some major decisions. He could have used the fire as an opportunity to follow his local competitors and relocate to a more economically attractive area. He certainly could have found a location with lower taxes and cheaper labor and thus have maximized his earning potential. He could have simply taken the insurance money and decided not to reopen at all. Instead, as the fire was still smoldering, Feuerstein pledged to rebuild his plant at the same location and keep the jobs in the local community. But even more surprising, he promised to continue paying his employees and extend their medical coverage until they could come back to work. • What do you think of Feuerstein’s decision? What would you have done had you been in his position? • What facts would be helpful as you make your judgments about Feuerstein? • How many different ethical values are involved in this situation? What kind of man is Feuerstein? How would you describe his actions after the fire? Can you describe the man and his actions without using ethical or evaluative words? • Whose interests should Feuerstein

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