Can you help me understand this Business question?
This week we address the issue of stakeholders in business from an ethical stance of course. A stakeholder is anyone or thing that has some relation to the business (i.e. your customers, rivals, political bodies, whatever). As a business owner or leader, we want to be concerned with stakeholder opinions and views because they can influence how others see our business or think about us.
Before he left office, President Obama and the Environmental Protection Agency (EPA) came up with a set of regulations to control car/vehicle exhaust emissions (fumes) to try to keep the air cleaner. Most people supported the idea on the basis of better breathing and healthier living.
The Trump Administration, a few months ago decided to roll back/repeal those regulations. He felt they were too restrictive and would hurt car sales (I also suspect that with friends in the oil and gas industry, President Trump wanted to keep them happy and profitable. So, we have an ethical dilemma in the sense that one President wanted to support cleaner air while his successor saw the regulations as being harmful to his stakeholders (e.g. the oil industry, auto manufacturers, etc.). Our discussion question for the week:
Leaders often have to make decisions based on choices to satisfy one or more stakeholder. Ignoring either President, which stakeholder group’s interest/needs should have the higher priority and why?
This week, we address the importance of diversity and multiculturalism in the workplace and society in general. Business organizations are comprised of many individuals. Each person has their own life experiences, views and values. The world has increasingly become smaller as different populations move into various regions of the world. Business leaders have to try to identify which demographic group to have to give consideration to when it comes to offer products and services.
We discussed in -class the “Rooney Rule” The national Football League (NFL) has in place. Here is the definition of the practice: The Rooney Rule is a National Football League policy that requires league teams to interview ethnic-minority candidates for head coaching and senior football operation jobs. It is an example of affirmative action, even though there is no hiring quota or hiring preference given to minorities, only an interviewing quota. It was established in 2003, and variations of the rule are now in place in other industries.
Our question for the week, “Are policies such as this beneficial or creating more issues/concerns in that organizations are being forced to promote diversity?”