I need help with a Business question. All explanations and answers will be used to help me learn.
Reflection Paper #1
Due: Monday, February 17th, 2020 by 5:00PM MST.
We are constantly bombarded with instances of ethical and unethical business behavior in the news. The purpose of these reflection papers is to connect our readings with contemporary events. Please provide detailed answers to all of the following questions. Keep in mind that this assignment constitutes 15% of your final grade. Your responses should be in size 12 Times New Roman font, double spaced, 1” margins, and should be approximately 4-5 pages long. Write in complete sentences. Improperly formatted papers will face a grade penalty. Your responses must provide textual support by appeal to quotes from our book. When using quotes, you must also explain what they mean in your own words. Write as if you are addressing someone who has not read the text. Aim to have responses that would clearly explain the topics to an intelligent, yet naïve, friend who has never encountered any of these writings. Submit as a .docx or .pdf through the assignments section of our Blackboard page.
1) Explain the difference between shareholder and stakeholder theory as discussed in our book.
- What is shareholder theory in the context of business ethics? What exactly is corporate governance in general? What, more specifically, is the shareholder model of corporate governance? Who exactly are a business’s shareholders? What are the ultimate goals of the shareholder model?
- What is stakeholder theory in the context of business ethics? What is the stakeholder model of corporate governance? Who exactly are a business’s stakeholders? What are the different types of stakeholders?
2) Appealing to the specific types of ethical issues and dilemmas discussed in Chapter 3 of our textbook (between pp. 61-80), provide one example of unethical conduct in the contemporary businesses world, and answer the following.
- Choose an example of one unethical event in the business world. Tell me the title of your article, its date of publication, and the source (e.g., Business Insider, The New York Times, CNN, Fox News, Al Jazeera, Forbes, etc.). Stories must be no older than one year.
- Summarize the main points of the article. Be clear and don’t assume I know what it is about.
- What precisely is the unethical issue in this story? Briefly explain how this issue fits into the news story as a whole. What is it that makes this unethical?
- For the type of ethical dilemma in your story, explain in detail all of the components of the issue in general by appeal to that section in our book (for example, if your article is about a conflict of interest, you should provide a summary of the whole framework and all distinctions related to such conflicts in the textbook chapter).
- For this story, in what ways is the business in question appealing to shareholders and stakeholders? Who exactly has been harmed through the unethical act?
- How might this example of unethical conduct have been avoided? Are there additional stakeholders that should have been further taken into consideration?