A study of the Bhopal Gas Tragedy Essay

1)We could firstlyly look at the arguments that would justify a comp both in putting its first subjection and moral responsibility to its owners as a priority. One of those arguments is the shareholder supposition, which states that the patriarchal responsibility of a firm is to maximise the wealth of its shareholders (Friedman, 1962). As Friedman (1970 in Moore 1999) then proceeded to argue, he claimed that society would gain as a consentaneous if businesses were left to do what they do best, create wealth.This argument could also be strengthened by considering the principle of self-assertion. Egoism, as defined by Baier (1990), expounds that an live up to is rational if and only if it maximizes sensations self-interest.In contemplating the supporting propositions for a company to owe its first commitment and moral responsibility to its employees and topical anaesthetic community who are affected by its operations, we first examine the match view on shareholder theory whi ch is the stakeholder theory where the stakeholder framework places shareholders amongst the duple stakeholder groups that managers must involve in their decision-making process (Clarkson, 1995 Donaldson and Preston, 1995) where stakeholder groups would include internal, external and environmental constituents who weed place demands on the firm (Ruf et al., 2001).A moral theory that could support this view is the ethical theory of W.D. Ross in which he dictates 7 prima facie duties that each person may bear at any one time. In this case, a company has a certificate of indebtedness of faithfulness to its owners to act in their interest as well as the province of nonmaleficence to its employees and the local community. In deciding which duty is more important we can turn to Kantian Ethics and the ethic of care. The second reformulation of the categorical pressing says that we should (a)ct in such a way that you treat humanityalways..as an contain and never simply as a means (Tho mas, 2010).Following that, the duty of fidelity will lose priority to the other as the origin may require the company to treat humans as a means to an end. Finally, the ethic of care asks that we care for the well-being of those who are helpless on us (Shaw, Barry, Sansbury, 2009).Therefore, a company should owe its first loyalty and moral responsibility to its employees and the local community who are affected by its operations as they are dependent on the company for their safety. 2)The first reformulation of the categorical imperative in Kantian Ethics conveys the idea of treating others how one would want to be treated by others (Thomas, 2010). By natural logic, this entails the thought of all humans being equal and by that extension the differing stinting circumstances of an Indian worker should not be sufficient anchor to award a lower compensation. 3)Union Carbide USA may leave stated their legal rights as a moral justification to occasion the forum non conveniens. They may also have utilised the concept of egoism as another justification, in that having the case judged in India would be proficient to themselves.Reference ListBaier, K. (1991), A Companion to Ethics, Blackwell Reference, Oxford Clarkson, M. (1995), A stakeholder framework for analyzing and evaluating bodied social performance, Academy of Management Review, vol.20, no.1, pp.92-117 Dierksmeier, C. (2013), Kant on Virtue, ledger of Business Ethics, vol.113, no.4, pp597-609 Donaldson, T., Preston, L.E. (1995), The stakeholder theory of the corporation concepts, evidence, and implications, Academy of Management Review, vol.20, no.1, pp.65-91 Friedman, M. (1962), Capitalism and Freedom, University of gelt Press, Chicago, IL Kant, I. (1966)The Fundamental Principles of the Metaphysics of Ethics, trans. O. Manthey-Zorn, Appleton-Century-Crofts, New York Moore, G. (1999), Tinged shareholder theory or whats so special about stakeholders?, Business Ethics A European Review, vol.8, no.2, p p117-127Ruf, B.M., Muralidhar, K., Brown, R.M., Janney, J.J., Paul, K. (2001), An empirical investigation of the relationship between change in corporal social performance and financial performance a stakeholder theory military position, Journal of Business Ethics, vol.32, no.2, pp.143-56 Thomas,L.C. (2010), Lying and Deception Theory and Practice, Oxford University Press, Oxford Shaw, W.H., Barry, V., Sansbury, G. (2009), Moral Issues In Business, Cengage Learning Australia