Many legal standards exist that businesses are required to meet in order to ensure product safety. These standards tend to be well defined, and adherence is a generally accepted risk mitigation strategy. Less quantitative risks exist, often in the area of ethical behavior, assumptions often made about the large portion of the world living at or below the poverty line. Do such assumptions represent ethical challenges? Why, or why not?
Here is where the basic purpose of business - to make profits - is not very helpful when making decisions. One example is when product assembly jobs are outsourced to countries where the originating business can lower the salary, below the minimum wage in the United States (assuming that this is where the business is headquartered). The workers could be minimally trained to produce goods that meet the safety standards, however, if the same goods could be produced faster that would meet the standards, but barely meet them, the company would feel justified to accept, distribute, and sell those finished goods. The frequent calls ...
The standards for ethical behaviors are given. The assumptions which represent ethical challenges are given.