Cost/Benefit Analsis of Ford Pinto

Topics: Business ethics, Ethics, Morality Pages: 1 (298 words) Published: May 31, 2007
Ethical dimensions of „cost/benefit" analysis. Evaluate from a moral perspective the "cost/benefit" analysis conducted by Ford. One may ask what do we need ethics in business for? To answer this question, we need to know what ethics is, as well as, what impact it has on businesses, people and relations. Ethics is often defined as a set of rules, principles governing a group or a person; determining his/her behavior. It imposes a social responsibility on people. Even though, in the past ethics was referred to humans mostly, today we hear more about ethical principles of business organizations, organizational integrity and corporate responsibility. Business ethics is "examining ethical rules and principles within a commercial context […] the duties of the company to ensure that products and production process do not cause harm." Luckily, more and more companies introduce the ethical thoughtfulness in their decision making. It is not enough for them to create a product and make profit. It is more than that. Reputation is something that counts nowadays. In fact being honest pays. Without a doubt, seeking for the solutions that reconcile the moral and ethical issues with company's strategic benefits is a goal of today's CEO. This results in creating mission statements describing the company's reason to exist. Why company was first created, also, the values company represents; and to motivate those connected to the company. For that purpose the Ford Motor Company placed its mission statement on the company's website: Ford Motor Company is a worldwide leader in automotive and financial products and services. Our mission is to improve continually our products and services to meet our customers' needs, allowing us to prosper as business and to provide a reasonable return for our stockholders, the owners of our business.
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