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Make the maximum possible pro?t

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Reference no: EM133086484

Planet plc, a mining company, has said in its mission statement that it will 'endeavour to make the maximum possible pro?t for its shareholders while recognising its wider responsibilities to society'.

Planet plc has an opportunity to mine for gold in a remote and sparsely populated area. The mining process proposed, in this instance, means that all vegetation will be removed from the land concerned; after mining has ?nished, there will remain substantial lagoons full of poisonous water for at least 100 years. The mining process is a pro?table one, given the current world price of gold. However, if the company were to reinstate the mined land, the process would be extremely unpro?table. The company has received permission from the government to carry out the mining. The few local residents are opposed to the mining

Required:

a) Discuss the extent to which Planet plc's mission statement is contradictory.

b) Explain how Planet plc could establish a procedure whereby its wider responsibilities to society could be routinely considered when making strategic decisions.

c) Discuss the ethical dimensions of the decision to mine for gold.

Reference no: EM133086484

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