Forbes article by Bruce Weinstein Discussion Paper
Order ID 53563633773 Type Essay Writer Level Masters Style APA Sources/References 4 Perfect Number of Pages to Order 5-10 Pages
Forbes article by Bruce Weinstein Discussion Paper
By Kyle Teijeiro
- After watching the video, my initial reactions made me believe that Feuerstein was guided by morals, but now, I do not believe that to be true. According to a Forbes article by Bruce Weinstein, respondents tend to see morals as what the individual personally considers right and wrong, and ethics as a set of codes set externally to display what is right and wrong. When defining morals and ethics in this manner, it makes it clear that Feuerstein was guided by ethics. Towards the end of the interview, Feuerstein admits that most of his decisions regarding what he did with his employees and the factory were guided largely by his religion and by Jewish law. In the end, both his religion and the Jewish law have rules in place to display what is right and wrong, making them a form of ethics.
- If Malden Mills were a publicly traded company, I do not think that he could have made the decision. As David Gill pointed out in his article, Malden was a privately-owned company, which allowed him to make his own decisions without any worries of how it affected others. However, if Malden had been a publicly traded company, Feuerstein would have had to consider the interests of his shareholders and everyone else with a stake in his company. In such a situation, it would have been much more difficult to make the decision he did, because it would have most likely hurt the wallets of those who had been investing in Malden. Even if he had wanted to do the right thing, there would have been a very small probability that his shareholders and other investors would have allowed him to make such a financially risky move just to appease his own ethical code.
- I believe Feuerstein has been criticized for his decision for three main reasons. I believe the first and most simplistic reason is that the decision was foolish. I think some people criticize his decision because it was just out-right foolish from a business perspective. To take such a financial loss for the sake of your employees rather than outsourcing your factory somewhere in China or cashing in on your fire insurance and using the rest of the money to live out in retirement made no sense to some individuals. The second reason he was criticized for his decisions was because some people probably thought he was doing all this for his own satisfaction. Feuerstein’s decision to rebuild the factory and continue paying his employees while they were out of the job made the news everywhere, and he was soon being called the “Mensch of Malden Mills.” Considering what a financially foolish decision he had made as the CEO of a company, some individuals assumed that he made such a decision for the sole purpose of satisfying his own ego—to make himself seem “holier” than everyone else. The final reason he was criticized for this decision was because other businesses feared the implications this action would have on them. Feuerstein’s decision was not one that anyone would have imagined a CEO making in that day and age, especially following the Enron scandal; but as it got more and more attention from the news and other media outlets, it must have gotten the CEOs of other companies thinking. If this altruistic form of people over profits became a standard in the business world, it would either negatively affect the public relations or the profits of their companies when the time came for them to follow suit. In order to avoid bringing this new ethically focused form of business into the spotlight, they most likely criticized Feuerstein’s decision under the guise of the first two reasons mentioned above.
Weinstein, Bruce. “Is There A Difference Between Ethics And Morality In Business?” Forbes, Forbes Magazine, 29 May 2018, www.forbes.com/sites/bruceweinstein/2018/02/27/is-there-a-difference-between-ethics-and-morality-in-business/#2a3a3eec2088 (Links to an external site.)
Forbes article by Bruce Weinstein Discussion Paper
QUALITY OF RESPONSE NO RESPONSE POOR / UNSATISFACTORY SATISFACTORY GOOD EXCELLENT Content (worth a maximum of 50% of the total points) Zero points: Student failed to submit the final paper. 20 points out of 50: The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. 30 points out of 50: The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately. Elements of the required response may also be lacking. 40 points out of 50: The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples. The answer is complete. 50 points: The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples. No aspects of the required answer are missing. Use of Sources (worth a maximum of 20% of the total points). Zero points: Student failed to include citations and/or references. Or the student failed to submit a final paper. 5 out 20 points: Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. 10 out 20 points: References to scholarly sources are occasionally given; many statements seem unsubstantiated. Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. 15 out 20 points: Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented. APA 6th Edition is used with only a few minor errors. There are minor errors in reference and/or citations. And/or there is some use of questionable sources. 20 points: Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented. APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. 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Structure of the Paper (worth 10% of total points) Zero points: Student failed to submit the final paper. 3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. 5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements. The student also significantly writes too large or too short of and paper 7 points out of 10: Research paper presents an above-average use of formatting skills. 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