Malden Mills - 1 Malden Mills Malden Mills Holly Cooper OMM...

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1 Malden Mills Malden Mills Holly Cooper OMM 640 Business Ethics and Social Responsibility Dr. Frank Morelli March 8, 2011
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2 Malden Mills Malden Mills, was a family own business, that was well known for there textiles and the large amount of community people they hired to work and manufacture the textile products. Malden Mills had a lot of social responsibility in the community and their employees were a great concern of theirs. Aeron Feuerstein, who was the chief executive officer, knew that the employee’s wellbeing was the best way to run the business. To Aeron Feuerstein felt that the way the employees should be treated as part of the company and a priority asset to the business. View of corporate social responsibility is that the CEO must take care of the shareholders but that they also have a responsibility to the community and workers. “The stakeholder approach to corporate social responsibility considers the various concerns of group that have an interest in the affairs of the organization and can be applied by management to identify potential reactions to corporate performance.” (Anonymous, 2009, pg.1) Aaron Feuerstein's view is possible in business today. Every business should be committed to both the employees and the community. The ultimate goal of any business is to be profitable and increasing their market share. If a business losses insight of making profit or increasing market shares they will not be in business long. “Feuerstein’s pledge to continue paying his workers eventually cost them their jobs and cost Feuerstein his company. Feuerstein ran out of money and Malden Mills was forced to declare bankruptcy.” (Anonymous, 2009, pg.1) The employees and the community was Aeron Feuerstein main concern. Because they were his main concern he put the fire accident and the financial concerns last. This was an example of corporate social responsibility. If Aeron would have focused on
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Malden Mills - 1 Malden Mills Malden Mills Holly Cooper OMM...

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