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Unit 1 – Ethical Theory, Business Practice, and the Corporation
Ethical Theory, Business Practice, and the Corporation
Chantal McDonald
BUS207-0702A-08: Business Ethics
In this assignment I am to read the case study entitled, “Shutdown at Eastland”, and explain how would I handle this situation? Propose a plan to close the assembly plant in Eastland, Michigan. Lastly to explain the following:
Terms of the close – what notice would you give what benefits would you provide, etc.?
Describe all of the affected stakeholders and how their interests will be considered.
Who do you propose should take primary responsibility for those laid off as a result of the plant closing?
How will this news be communicated to the workers, press, and community?
Putting people out of work is not an easy thing to do, if you have a heart at all. Sometime things cant be prevented and closing down a company is an inconvenience for all. If I had to handle this situation the first thing I would have done is to have given an advance notice. I am sure that at some point the owners of the company knew that this was in need of happening and giving the people a chance to save up money and prepare for this, is what I would have been thinking about. Next I would have reached out to look for assistance forms every government agency, or business agencies for any and all assistance. If it was about money, I would have sold my accounts payable contracts and leased out some equipment to help issue severance packages to the employees to live on till something better came along.
Proposed Plan:
Terms of the close
3 month advance notice of closing.
Paid medical and dental benefits for 6 months. Option to keep paying same rates till new coverage goes into effect.
Setup resumes writing companies and job assistance agencies to help employees with job search.
Stakeholders: Groups who are vital to the survival and success of the corporation (pg. 58).
People affected by close (pg. 58-60).
Owners – have financial stake. Try to save retirement income.
Suppliers – for final products quality and price. Work out payment plans to reduce monthly payments.
Management