Reference no: EM133411355
The ethical practices of a US or International company can impact economic progress. Pick one company and provide an example of how an ethical issue demonstrates a disconnect in their economic progress.
One example of how an ethical issue can demonstrate a disconnect in economic progress can be seen with the Coca-Cola Company. In 2020, the company was involved in a scandal involving the alleged unethical treatment of workers in Colombia. Reports emerged of workers facing discrimination, wages far below the poverty line, and inadequate safety standards. These reports led to a public outcry and demands for Coca-Cola to address the situation. In response, the company was forced to spend money to investigate and address these allegations, resulting in a disconnect in their economic progress as they needed to divert resources to address the issue.
Coca-Cola and your example of unethical practices with Colombian workers are quite disrespectful of the workers and the value they bring to the organization.
One may wonder how this damages their reputation for unfair treatment of workers, and why they thought that was okay.
High ethical standards are critical to any organization, starting with senior management, leading by example, and demonstrating how they value the workers.
Sounds like Coca-Cola missed that lesson in Columbia.
If you were the senior manager and decision maker for Coca-Cola, what ethical steps would you take to improve the workplace for employees and economic progress and why?
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