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The Walmart De Mexico Scandal Essay

1397 words - 6 pages

Ethics are moral principles that can be used to help guide peoples decisions. We are all different and therefore our beliefs and opinions differ. There are many ethical theories, and according to Panza and Potthast (n.d.) the following are some that are widely used. Virtue ethics is one theory which states that personality is the most important thing. Living an ethical life, acting right, requires that one develops and demonstrates the quality of courage, compassion, wisdom, and temperance. It also requires that greed, jealousy, and selfishness is avoided. Utilitarianism states that the amount of happiness and suffering created by a person’s actions is what matters the most. As a result, acting rightly includes maximizing the amount of happiness and minimizing the amount of suffering around you. At times you may need to break some of the traditional moral rules to achieve such an outcome. Kantianism is another theory which highlights the principles behind actions rather than an actions results. It states that it requires to be motivated by good principles that treats everyone with respect. If you’re motivated by good principles, you overcome your animal instinct and act ethically. Another ethical theory is the Contract theory, which suggest that ethics should be thought of as terms of agreements between people. It suggests that doing the right thing means obeying agreements set by members rather than those of society. For this theory ethics isn’t necessarily about character, consequences, or principles. The last theory I’m going to mention is Care ethics. Care ethics focuses on ethical attention on relationships before other factors. As a result, acting rightly involves building, strengthening, and maintaining strong relationships. Acting rightly displays care for others and for the relationships they are a part of. Relationships are fundamentals of ethical thinking according to Care ethicists. (Panza & Potthast, n.d.) Ethics is very important to a company’s success. Ethical behavior can bring benefits to a business. They can attract customers, which can lead to a boost in sales and profits. It can attract the right employees and increase productivity. It can also attract investors and keep the company’s share price high. Unethical behavior on the other hand can damage a company’s reputation and make it less appealing to stakeholders. It could also result in lower profits.
In 1962 in Rogers, AR, a man by the name Sam Walton founded the well-known retail store Wal-Mart, dedicated to make a difference in the lives of their customers by offering everyday low prices. (Walmart, 2014). Despite their effort trying to save people money, Wal-Mart has been caught up in some scandals, which has given the company a bad reputation. In 2005 Wal-Mart paid bribes in Mexico to win market dominance and to speed up building permits. It is said that it is difficult to get all the permits needed to open a business without paying off low-level officials. The...

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