BUSINESS ETHICS

Q1

According to the case of (Pelman v. McDonald’s), it was suspected that McDonald’s were partly accountable for the health troubles especially with children obesity while consuming their products. McDonald’s among other fast foods must be held responsible for offering products that are quite harmful to the body health. The fast food stores should desire to be socially responsible and be aware of the fact that obesity rates are on the rise. However, each buyer should be personally responsible for their health by researching the advantages and disadvantages of the products before they buy (Hartman & DesJardins, 2013).

Q2

Market approach has underlying assumptions of efficient, free and a competitive market that is measured by the cost-benefit ratio. It is limited through the inadequacy of solving problems sustainably. The environmental burden is the cost is barred by the parties who do not participate in the economic exchange. Regulatory approach refers to the legal requirement of business that helps them meet environmental responsibilities. Laws implemented are limited to a local influence. The sustainability approach meets the needs of the future generation to meet their own needs. Sustainability opens up walls for a funnel (Hartman & DesJardins, 2013).

Q3

My personal opinion is that I believe that any form of living things have rights just as humans. However, the animals may not be advanced just like us but they are equally important as animals and plants give us food and oxygen which is crucial for a living. Our ecosystem requires a balance in all the living things in order to form a conducive habitat for living in (Hartman & DesJardins, 2013).

Q4      

Agency theory clarifies on the relationship between the stakeholders and the representatives of the business. It relates to Enron debacle scandal in that the relationship between investors and the representative of the business failed to honor their relationship. The principles were deceived by the agents of the business who gave misrepresenting earnings in order to continue enjoying the investor’s revenue as they embezzled funds from investments and reported positive financial gains that were totally false (Hartman & DesJardins, 2013).

 

 

 

 

 

 

 

 

 

 

Reference

Hartman, L & DesJardins, J. (2013). Business Ethics: Decision-Making For Personal Integrity & Social Responsibility. McGraw-Hill Higher Education