Business ethics Essay Example | Topics and Well Written Essays - 1500 words - 1

Business ethics - Essay Example Opponents of this idea argue that regulation, contrary to what it is supposed to be, is never done in the interests of the shareholders in the market, but for the benefit of a few people who use regulatory officials to make the market favourable to them. On the other hand, there are those who feel that regulation is necessary in order to bring sanity in the market. This probably has to do with the fact hat in the early days of the invention of the securities markets, there was a lot of misconduct by corrupt traders who used dishonest methods to benefit themselves at the expense of the other traders, especially the smaller traders who did not have a good clue of how the market worked. This led to the exploitation of many people and, in New York’s Wall Street, this unregulated, dishonest trading almost led to the collapse of the whole securities market. Because of such issues, most people felt hat the market does not have enough mechanisms to regulate itself and should therefore be regulated by the government. There are those who believe that the market is now mature and cannot be easily regulated like it was in the earlier days. They believe that whether regulated or not, the securities market will still perform well. ... While this kind of outsourcing has received a lot of criticism due to it perceived lack of patriotism, due to the fact that the directors of such firms are accused of exporting the labour market while there are so many unemployed people in the local economies, it can be applied in a positive way (Crowther & Rayman-Bacchus 107). Some of the issues which a firm like Adidas would have to consider in order to ensure that it is in the right direction would have to include employee policy. Fair pay and fair working hours Due to the fact that Adidas is looking for cheaper labour, it is very easy to be tempted to create sweat shops as has happened by so many firms, including firs from the developed world, where they abuse their workers in the developing world. In developing world, there are no tight employment regulations and employee protection laws. This fact, combined with the fact that poverty makes people in these countries to be willing to do any work under any conditions makes it easy for the employee to be abused and unfairly exploited without being able to complain. A firm like Adidas should take advantage of these conditions, not to abuse the employees but to set precedence as to how these employees must be treated and how to make sure that the employees reap happy fruits of their labour. This can be possible even after paying them relatively well in comparison to the local economy, the firms still saves a lot compared to what it would have to pay in the developed world. Question 3 Adidas, with regard to its actions seems to have a genuine interest in developing its people. However, being a for-profit firm, it would be misleading to think that this is purely philanthropy, otherwise if it was there would be no