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Today, we have more millionaires and billionaires than ever before. How do these people get so rich? Did they do it ethically, or did they do it at the cost of the Jobs of everyday workers, whom they supposedly lead? Review the scenario presented in Essay Question #4 on pages 31-32 of Introduction to Business Law. In a report, address the questions presented. Also consider the following: Can you blame Kilts for accepting the offer given to him, or the action which he took to turn the company around? What percentage of the responsibility does P&G share or what happened?
Although, nothing illegal took place in the Gillette turnaround or sale, was it ethical? Assignment should be one to two pages in length. For citation guidelines, please refer to the table in the PAP Style section of the syllabus. Save your document with a file name that includes your name_course code-section number_title. For example: Jansenism_BULBOUS-12_Week . Docs. If you aren’t using Microsoft Word, save your document with the . RTF file extension (Rich Text Format). To submit your individual work, go to the Drop at the top of your online course ND click “Submit Assignment. Click on the drop-down menu to select the Week 1: Individual Work basket in the Drop. Social Responsibility Everest University Online 3246-12 I can understand what Kilts did to turn the company around. However, selling the company to make a profit for himself was not an option that I would have gone for. Many people lost their Jobs and were affected by selling off the company to P&G. Especially the 4,000 workers that were from the same area. Having that many unemployed workers does serious damage to the economy and it will be difficult for hem to turn things around.
Proctor & Gamble share about 50% of the blame because they are part of the reason for the layoffs. If the officers were not receiving such a high payout, they may have been able to afford to keep some of the employees. If that wasn’t an option then the should have given each of the employees a settlement that would be enough to help them get back on their feet. When officers of a company are given a high financial incentive to turn a company around, or to increase profits, they will do anything they can to achieve these goals, even if they are unethical actions.
Even though everything that took place between Kilts and P&G was completely legal, it was not entirely ethical. For starters, Kilts had to have known exactly what he was planning to do because he had not moved his family to be with him. He knew that it was Just going to be a short term arrangement. There is also a very good chance that he knew that thousands of workers would lose their Jobs if he was to go through with the plan. This is exactly what has happened and although he is benefiting nicely from it, he has most likely hurt many communities that house these ,000 now unemployed workers.
Kilts and the other two officers are receiving nice pay offs while these families are going to be struggling to survive for who knows how long. Although the shareholders benefited from this transaction, the officers also too away profits from them because they would have been able to benefit even more if the company hadn’t paid out the officers so much. There are many companies that cannot see beyond their own greed to realize how badly their decisions effect people A company that has been based in a place for such a long time is then badly hurt by eying off such a large number of employees (even though 4% does not seem like a large number).
The fact that 4,000 employees are from the same area is where the most damage is going to be because it will be difficult will all those employees in the same area trying to find work. Been able to afford to keep some of the employees. If that wasn’t an option then they long. Although the shareholders benefited from this transaction, the officers also took cannot see beyond their own greed to realize how badly their decisions effect people.