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Theories of Ethics

The meeting between Bill and Joe did not go very well, and the Peninsula Hotel chain contract is in jeopardy. Despite their personal relationship, Bill is threatening to sign a contract with Joe's competitor, Threads4U, because it is undercutting UWEAR's price.

Joe is desperate to save the contract because the Peninsula Hotel chain contract accounts for over 50% of his territory's sales. Without them, his future with UWEAR is uncertain. He realizes that he needs to gain approval from his management team before he moves forward with any further contract negotiations with the Peninsula Hotel chain.

Complete the following in a paper of 2-3 pages:

- Who are the stakeholders in this situation?
- What are the responsibilities of each stakeholder to the company?
- Provide at least 4 ethical responsibilities for each stakeholder.
- For each stakeholder, what would be the appropriate response to the situation?
- What should Joe propose to the management team?
- How should he support his proposal?

Solution Preview

Who are the stakeholders in this situation?

Step 1
The stakeholders in this situation are Bill, and Joe. These are the main stakeholders. The other stakeholders are the management of UNWEAR, and Threads4U.

What are the responsibilities of each stakeholder to the company?

Step 2
The responsibility of Joe is to ensure that UNWEAR does not lose the contract. The responsibility of Bill is to ensure that the Peninsular Hotel chain gets the products at the lowest possible prices. The management of UNWEAR has the responsibility to protect its market share and Threads4U has the responsibility to get the Peninsular Hotel contract.

Provide at least 4 ethical responsibilities for each stakeholder.

Step 3
Joe has the ethical responsibility of getting Peninsular Hotel contract. He has the ethical responsibility of being truthful to Bill. He also has the ethical responsibility of getting management approval to negotiate further with Bill. He also has the ethical responsibility of making the utmost effort to get business for his company.
Bill has the ethical responsibility to get the best deal ...

Solution Summary

This posting gives you a step-by-step explanation of ethical responsibilities of stakeholders. The response also contains the sources used.

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