chapter 16 ethics exercise "whos really #1"

Matt Blumberg still laughs when he recalls the way his old presentation to investors used to raise eyebrows. It happened nearly every time he reached a certain slide. "It lets them know that our No. 1 stakeholder is our employee base, No. 2 is the customer, and No. 3 is the shareholder," says Blumberg, CEO and chairman of a New York City-based company called Retum Path. "And that if they're not comfortable with that, they shouldn't invest in our company." In the decade that has passed since Blumberg...[co-founded] Return Path, this dedication to employees has taken on varied forms: the flexible work policy that allows employees to conduct business from home. The monthly e-mail updates on the company's financial health [and training to understand the financial data in those e-mails]. Source: Excerpled from jason Del Rey. "Testing a Company's Commitment to Transparency' inc, 32 (June 2010) 72 What are the ethical implications of the following interpretations? 1. The customer was, is, and always should be number one at successful companies. Dissatisfied customers eventually guarantee the failure of any business. Any exceptions? 2. When employees truly believe they are management's number-one priority, they will be loyal and hard working and customer satisfaction and profits will be natural by-products. 3. In a corporation, shareholders are the owners and management's overriding job is to give them a good return on their investment. Any exceptions? 4. Your own ethical interpretation? Matt Blumberg still laughs when he recalls the way his old presentation to investors used to raise eyebrows. It happened nearly every time he reached a certain slide. "It lets them know that our No. 1 stakeholder is our employee base, No. 2 is the customer, and No. 3 is the shareholder," says Blumberg, CEO and chairman of a New York City-based company called Retum Path. "And that if they're not comfortable with that, they shouldn't invest in our company." In the decade that has passed since Blumberg...[co-founded] Return Path, this dedication to employees has taken on varied forms: the flexible work policy that allows employees to conduct business from home. The monthly e-mail updates on the company's financial health [and training to understand the financial data in those e-mails]. Source: Excerpled from jason Del Rey. "Testing a Company's Commitment to Transparency' inc, 32 (June 2010) 72 What are the ethical implications of the following interpretations? 1. The customer was, is, and always should be number one at successful companies. Dissatisfied customers eventually guarantee the failure of any business. Any exceptions? 2. When employees truly believe they are management's number-one priority, they will be loyal and hard working and customer satisfaction and profits will be natural by-products. 3. In a corporation, shareholders are the owners and management's overriding job is to give them a good return on their investment. Any exceptions? 4. Your own ethical interpretation