8 ceo james burke maintained a high profile and

This preview shows page 29 - 32 out of 33 pages.

8. CEO James Burke maintained a high profile and repeatedly assure the public of company’s commitment to its customer’s safety 9. The company aired commercials within days to regain the public’s trust 10. Issued a massive recall of all Tylenol Products, promised to have the product back on the shelves in a new triple tamper resistance package (the first of its kind) by the end of the year 11. It offered incentives (free replacement of caplets for capsules, special coupons) to maintain customer base 12. When another poisoning involved New York woman 4 years later, because J&J has been through this, the executives knew how to handle. a. Despite being an isolated incident, J&J decided to permanently discontinue capsule products (demonstrating its commitment to putting safety first)
Lesson 7: Introduction to Business Ethics What is business ethics?
2. Define business ethics and appreciate the complexities of making ethical judgments.
ETHICS LAW Learning Objectives: 1. Describe how the public regards business ethics.
Compared with 4. 3 Models of Management Ethics 1. Different types of management Immoral management A style devoid of ethical principles and active opposition to what it ethical. Moral management Conforms to high standards of ethical behaviour. Amoral management Intentional: does not consider ethical factors. Unintentional: casual or careless about ethical factors. 2. E.g. of immoral management 1. Bernard Madoff – Ponzi Scheme. Madoff lured investors into turning their money over to him and he led them to believe that thuer money was safely invested and yielding large returns. 2. Ashleymadison.com – A site that caters for cheating spouses. Marketing slogan is “Life is short. Have an affair.” It is a business with an immoral mission to inherently promote infidelity in marital relationships.

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture