Professional Documents
Culture Documents
OVERVIEW
Introduction &Case Study Background by Issue at Hand I Issue at Hand II Case Analysis I Case Analysis II Conclusion
Background
Amruta Pawar,
27
VS
Issues At Hand
Abhishek Bhagat,
06
ISSUE AT HAND
Whos at Fault ?
Firestone Ford
Civil Lawsuits
Who pays the damages ?
ISSUE AT HAND
REGULATIONS AND LAWS INVOLVED
Tort Law
Intentional
Negligent
Negligent Torts
Duty of Care Unreasonable Behavior Breach of Duty
Further Issues
Divya Doshi,
90
ISSUE AT HAND
ISSUE AT HAND
Case Analysis
Priyank Indulkar,
13
CASE ANALYSIS
To what extent do companies need to make a proactive effort to evaluate safety concerns ? What mistakes did Ford, Firestone, and NHTSA each make early on in the crises ? What possible ethical implications when accepting responsibility versus blaming others ? Suggest measures that Firestone could take to improve tire quality in the future ?
CASE ANALYSIS
Do what extent do companies need to make a proactive effort to evaluate safety concerns?
CASE ANALYSIS
What mistakes did Ford, Firestone, and NHTSA each make early on in the crises?
24
CASE ANALYSIS
What possible ethical implications when accepting responsibility versus blaming others?
CASE ANALYSIS
Suggest measures that Firestone could take to improve tire quality in the future Three step approach 1) Reinvest in manufacturing plants
Retrofit their plants with state of the art equipment
2) Product testing
Responsible to perform extensive testing
Culture change
Educate employees the importance of quality, regulations, and empower them to point out problems
In Conclusion
Nikhil Kuchroo,
19
Ethical Responsibility
Legal Responsibility
Economic Responsibility
Ethical Responsibility
Legal Responsibility
Economic Responsibility
Legal Responsibility
Economic Responsibility
The Damage
Century-long relationship, between Ford and Firestone conceived in 1908, ended in 2001 More than 270 traffic deaths & more than 700 injuries in the US alone over Ford-Explorer Firestone-Tire issue Firestone tire recall alone cost ~$350 million Adding fines and compensation charges the amount adds up to ~$1 billion
Legal Responsibility
Economic Responsibility
Bottom Line
Business ethics comes down to one thing Distinguishing between right and wrong and opting to do what is right
Ford faces hundreds of lawsuits seeking damages totaling more than $590 million Tire failure report from the National Highway Traffic Safety Administration (NHTSA) Investigation in Florida, which lead the inquiry on behalf of all 50 states
Legal Responsibility
Customer Value
Wealth (Artha) becomes evil only when it is misused on account of lack of wisdom