In the land of free trade the public does not view all indus

In the land of free trade, the public does not view all industries as equal. Do you believe this is ethical? Do you believe that some industries are unfairly targeted? Should it be consumers choice to partake in products that are not healthy for them, or do those companies have an ethical obligation to protect people? Choose one industry (tobacco, soda, alchohol, casinos, or candy companies). Become an advocate for either the consumer or the industry. Prepare an argument explaining the major reasons why you support either the consumer or the industry. Explain the role capitalism plays in corporate decision making. Discuss if you believe it is possible for a company to cater to both it\'s best interest and that of the consumer conjointly or if one always has to prevail. Justify your response.

Solution

Answer: Yes I feel that the public view that all the industries are not same is right. Every industry has a different impact on the society in which they operate. Some of the industries like alcohol and tobacco are a direct cause of harm to the public health hence not considering all the industries as same are not wrong or unethical. No I don’t feel that some industries are unfairly targeted by the public as the general public is an important stakeholder in the company’s operations and they are directly affected by their actions. Hence they have a right to say against the industries causing harm to the public health. It is right that the consumers need to make a choice between the healthy and unhealthy but it is also the ethical duty of the companies as responsible citizens that they produce products which do not cause harm to the public health and safety.

I support the Candy industry despite the claims that the high calorie products it supplies are considered unhealthy. The candy is a food product and it is more on the consumers to limit their intake. Candies cause no harm like alcohol and tobacco to the health until they are over consumed. Candies are relished by many people hence there is nothing unethical in it.

In capitalism the market dynamics controls the decision making of the companies. The profit is the only motive for an organization to exist as per capitalism and it is the profit motive which guides the decision making inside the organizations.

Yes it is possible for the company to cater its own interests along with the interests of the consumers. The companies which cater to the interests of the consumers automatically cater their own interests as this makes their image better in the minds of the consumers.