Ethical Awareness in Business and the Value of Human Life.Steven F Goldstone, Chairman and CEO of RJR Nabisco (one of the largest US cigarette manufacturers) said in a 1998 magazine interview, “I have no moral view of this business…I few it as a legal business. You shouldn’t be drawing a moral judgment about a business our country says is perfectly legal and is taxed like crazy by it.” Think about his comment in terms of ethical awareness.

QUESTION

Please address one of the following two questions:

Steven F Goldstone, Chairman and CEO of RJR Nabisco (one of the largest US cigarette manufacturers) said in a 1998 magazine interview, “I have no moral view of this business…I few it as a legal business. You shouldn’t be drawing a moral judgment about a business our country says is perfectly legal and is taxed like crazy by it.” Think about his comment in terms of ethical awareness. What might change if you think of your business in terms of ethics and not just legal terms? What about the class action lawsuits that were settled for billions and set aside for future claims even while cigarettes are still sold avidly? What about applying these principles to the legalization and sale of marijuana in several US States?

or

Should a person be permitted to place a value on human life? Should a company? Should the government? If not, how are decisions to be made to compensate individuals for family members lost?

ANSWER

Ethical Awareness in Business and the Value of Human Life

Introduction

The statement made by Steven F. Goldstone, the Chairman and CEO of RJR Nabisco, regarding his lack of moral view on the cigarette business raises important questions about the intersection of ethics and legality. This essay will explore the implications of considering a business in terms of ethics rather than just legal terms. Additionally, it will discuss the class action lawsuits against cigarette manufacturers and the application of ethical principles to the legalization and sale of marijuana. Furthermore, it will address the ethical considerations surrounding placing a value on human life and the decision-making process for compensating individuals for the loss of family members.

Ethics vs. Legal Perspective in Business

When businesses adopt an ethical perspective, their focus expands beyond mere compliance with legal requirements. Ethical awareness prompts companies to consider the broader impact of their actions on society, stakeholders, and the environment. By embracing ethical principles, businesses can demonstrate social responsibility and prioritize the well-being of employees, consumers, and the communities they operate in. Ethical considerations prompt companies to evaluate the potential harm caused by their products or services and take measures to mitigate those risks.

Class Action Lawsuits and Ethical Implications

The settlement of class action lawsuits against cigarette manufacturers for billions of dollars signifies the recognition of the harm caused by their products. Despite these settlements, cigarettes continue to be avidly sold. This situation highlights the importance of applying ethical principles in the tobacco industry. Ethical awareness calls for companies to prioritize public health and safety by investing in research, education, and smoking cessation programs. By doing so, they can demonstrate a commitment to mitigating the negative impact of their products on individuals and society.

Applying Ethical Principles to Marijuana Legalization

The legalization and sale of marijuana in several US states present a similar ethical dilemma. While the substance is becoming legally acceptable, ethical considerations should guide businesses in this industry. Companies entering the marijuana market should prioritize consumer safety, responsible marketing practices, and contribute to research and education on the potential health effects of marijuana use. By incorporating ethical awareness into their operations, businesses can ensure that the benefits of legalization are balanced with the potential risks.

Placing a Value on Human Life

The question of placing a value on human life is complex and invokes significant ethical considerations. While it is challenging to assign a monetary value to human life, there are circumstances where compensation for loss becomes necessary, such as wrongful death or injury cases. Decisions regarding compensation should be made based on ethical principles, taking into account factors such as the individual’s contributions, dependents, and potential future earnings. Government regulations and legal frameworks play a crucial role in establishing guidelines to ensure fair and consistent compensation for individuals who have lost family members.

Conclusion

In conclusion, considering a business in terms of ethics rather than solely legal terms expands its responsibilities towards stakeholders and society. Ethical awareness prompts businesses to prioritize the well-being of individuals and communities affected by their operations. The settlement of class action lawsuits against cigarette manufacturers emphasizes the need for ethical considerations in the tobacco industry. Similarly, ethical principles should guide businesses in the legalized marijuana market. The question of placing a value on human life is complex and requires sensitivity and fairness. Ethical awareness is crucial in making decisions related to compensation for individuals who have lost family members, considering the intrinsic worth of every human life. By embracing ethics, businesses can go beyond legality and contribute to a more socially responsible and morally conscious society.