MGMT 303 WRITING ASSIGNMENT
Fall 2019
30 Points
MEMO #3
Assigned: Week 6
Due: Thursday of Week 7
A New Golden Age of Corporate Ethics?
Are we about to enter Golden Age of ethical business? Consider first the values manifested in the modern workplace. Workplaces today, while still far from perfect, are less sexist, less racist, and generally more civilized and humane than at any time in history. Yes, many workplaces are still less-than-great. Some are downright bad. But ask yourself this: when, generally, were they better?
Consider also that in 2019; businesses are starting to take the lead in creating societal change:
- Walmart,which first banned assault weapon sales two weeks ago and now is stopping the sales of vaping products.
- JPMorgan Chase,Starbucks, Walmart, Amazon and many others increased their minimum wage to $15. Every CEO has the power to do this.
- Delta Airlinesreturns billions in profits to employees — this year, a bonus equal to 14% of their annual pay — and has grown since making this change. Every company can do this.
- Amazon became the first to sign The Climate Pledge to be net-zero carbon across its businesses by 2040 — a decade ahead of the Paris Agreement’s goal of 2050. An individual company cant put a dent in overall pollution — but a bunch might.
- Stripe,the online payments platform, announced last month that it plans to spend at least $1 million a year to pay for direct removal of carbon dioxide from the atmosphere. Stripe said in its emissions announcement: “For other companies: Please reach out to Stripe to join our commitment.”
- Bank of Americalast year stopped lending money to makers of military-style assault weapons.
- Dicks Sporting Goodspaid a price in its earnings after it initially made it harder to buy firearms in its store, but then went even further this year.
Clearly these companies and more are starting to put people head of profits – or are they? Some accuse them of merely whitewashing their problems – putting a glossy coat over an ugly reality.
ASSIGNMENT:
Memo #3 takes you right to the heart of the problem: GREED.
In ONE PAGE you are to discuss whether it is proper and right for a company to pursue their own naked self-interest; that is to reward stockholders (or themselves) with as much profitability as possible, in as short a time as possible? In other words, is greed — as Gordon Gecko so famously put it in the movie “Wall Street” — good?
Or sometimes, is enough, well, enough? Will we all benefit if companies start to lead society. They could after all:
- Limit CEO pay
- Raise the minimum wage to $20 or higher
- Ban the sales of all assault weapons
- Increase childcare, family leave and health plans
All of which would CUT INTO THE AMOUNT OF MONEY THEY MAKE. So is this prudent or should they follow the advice of Nobel Prize winning economist Milton Friedman who famously said:
There is one and only one social responsibility of business–to use its resources and engage in activities designed to increase its profits so long as it stays within the rules of the game, which is to say, engages in open and free competition without deception or fraud.
I suggest you rely on more than your own opinion on this one. Find a good source or two to help guide you through this difficult issue.
You may want to turn to a more community-minded theorist like Paul Hawken
- Or a notable business professor like Harvards Michael Porter for guidance.
- Or check out some of Eduardo Porters writing on income inequality in the New York Times.
- Or read up on Rep. Alexandria Ocasio-Cortez and her proposals.
There is an enormous amount of source material for you to peruse.
Address the memo to me: Peter Straus
What Students Are Saying About Us
.......... Customer ID: 12*** | Rating: ⭐⭐⭐⭐⭐"Honestly, I was afraid to send my paper to you, but you proved you are a trustworthy service. My essay was done in less than a day, and I received a brilliant piece. I didn’t even believe it was my essay at first 🙂 Great job, thank you!"
.......... Customer ID: 11***| Rating: ⭐⭐⭐⭐⭐
"This company is the best there is. They saved me so many times, I cannot even keep count. Now I recommend it to all my friends, and none of them have complained about it. The writers here are excellent."
"Order a custom Paper on Similar Assignment at essayfount.com! No Plagiarism! Enjoy 20% Discount!"
