Friday, January 10, 2020
Philosophy Relating to DWI Business Essay
Honorable Justice Potter Stewart once wrote: â€Å"There is a big difference between what we have the right to do and what is right.†Examining the background and scope of business and transaction of Diversified Worldwide Industries, its activities includes oil and energy, environment, communications, leisure and recreation, real estate and manufacturing.            In its real estate business, its goal is to build homes and area that is age restricted. The company was very eager to build a location, however the streets that were supposed to be built has a weight limit. So the problem arises with this, the debris that needed to be transferred and moved after the subdivision is built needs trucks to transport. But the big trucks exceeded the weight limit of the street so they need small trucks to transport the debris. This means that, it will be costly and out of the budget scale. However, though some debris is allowed to be burned as long as proper permits and restrictions are acquired, most of the debris is woods and according to the law, burning of these is not allowed. Applying the philosophy that Honorable Justice Potter Stewart once wrote, the company should adjust their budget so as to allow the transfer of debris through the small trucks that the street can accommodate. This should be done because the company has to be socially and environmentally responsible, especially for its activities. Even if they can do the other option – burning woods or keeping it on the site, which they can do because they have the right since they own it and the other option is out of the budget. Still the right thing to do is to dispose it properly.            On the company’s financial aspect, it encountered a problem when during its oil exploration in the middle east, the activity became very costly and is not very profitable, resulting to the application of the company of bankruptcy. The company has two options again, one is to completely stop the exploration even if the contract for two years is not achieved, and the other is to continue the oil exploration and risk the investments of the company. Relating the solution to the philosophy stated above, the right thing to do is to file for bankruptcy giving the condition that the exploration be continued and the debts be paid from the profits that the company will get from it in the future. Choosing this option is the right thing because the company has responsibilities to its investors, and also because a contract was signed. They cannot stop the operation just because they are not yet profiting from it. Exploration is really costly, but after all is done and established, profits will sure to come. Business is taking risks. Responsibilities should be done for all concerned.            Another is regarding their manufacturing division. The situation is that, the manufacturing division was researching for a new flavor for wine and discovered a way to prevent cancer. The company filed a patent for it in the US, which means that they will be the only company to manufacture it in twenty years. Applying the stated philosophy above, the company should not take advantage of privilege given to them. Prices should also be reasonable. Considering that the company should practice social responsibility, it would be right if the company launches programs for its products widespread distribution that are less costly or even joint ventures with the government.            In its environmental ventures, it includes the production and supply of clean water that the humans can drink and which is safe for aquatic life. However, in one of its branches, a supervisor found a leak leading to the water tank. The leak contains lead which can be very dangerous to both human and aquatic life. The government is also strict in following its rules regarding this type of venture. So the company has options on how to deal with this. One is to fix the leak and keep quiet about what happened because letting it be known may ruin the company’s reputation and may lose customers. On the other hand, they can also fix the leak, check its machines again, let it be known to the public in the fastest way like media and warn them of what might happen, provide clean waters to those who needed it like far places or hospitals. Also if damage has done on customer or the environment, be responsible for all its financial needs, like in medication or cleaning up. Reference Doing What is Legal and Ethical in the Business World. January 17, 2008 retrieved from            http://www.associatedcontent.com/article/136482/doing_what_is_legal_and_ethical_in.ht         ml?page=3  Â
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