Part 1: Ethical Behavior
The first matter would be that the hiring and firing decisions made by the managers of MKD be based on a person’s ability to perform the job. Their managers should not discriminate against race, gender, national origin, or age, to name a few. The second matter would be that MKD should ensure that each employee is paid fairly and that their working conditions meet the legal standards. The third matter would be the matter of privacy and respect. The ethical behavior of MKD should be to respect each employee and their privacy.
Part 1: Environmental Responsibilities
The public opinion of MKD could be greatly tarnished as a result of this instance. Much like the case ...view middle of the document...
Part 1: Accommodative Stance
If MKD adopts the accommodative stance they will accept responsibility and work to satisfy or even exceed economic, legal, and ethical criteria. In 2012, the Bank of Korea mentioned that it plans to maintain an accommodative policy stance. They had managed to hold the base rate during the latter half of 2011 at 3.25%, and in fact they were able to keep the mentioned interest rate steady for an eighth straight month. (Nam, 2012)
Part 1: Proactive Stance
If MKD had initially adopted a proactive stance their actions would have been proactive rather than reactive. This situation would have been handled properly or may have never even happened at all. Companies that are proactive, act in advance of any future situations. Exmark Manufacturing has policies in place to actively make recalls on products before situations arise. (Exmark, 2011)
Part II: Pricing Objective
An example in which a company might adopt a pricing objective other than profit maximization would be when a company planned to launch a new product into the market in which a similar product already existed. The company would offer it at a lower...