Read the “Ethics and Business Decision making,” and in your answer, be sure to address the different approaches to ethical reasoning as applied to this hypothetical situation. How would a Kantian approach this problem? How would a utilitarian?

Suppose that you contract to purchase steel at a fixed price per ton. Before the contract is performed, a lengthy steelworkers’ strike causes the price of steel to triple from the price specified in the contract. If you demand that the supplier fulfill the contract, the supplier will go out of business. What are your ethical obligations in this situation? What are your legal rights?

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The answer to the question just raised is not simple On the one hand a common ethical assumption in our society is that individuals should be held responsible for the consequences of their own actions ... View the full answer