Ethics and Law Research Paper Example | Topics and Well Written Essays - 250 words

Ethics and Law - Research Paper Example This debate has had various philosophical theories explaining this concept. In this paper, I will base my argument on three philosophical theories to determine whether it is more important for business to be ethical or lawful. Proper business ethics should be introduced in a business as external factors that are way above profit making motive of the business and the law governing its operations. Ethical business obligation supersedes fulfilling laws requirements in that by mere facts, law specifies the lowest values of identifying acceptable behavior (Fieser). Ethical absolutism stipulates that a right or wrongful action remains as it is despite the outcome. For instance, stealing remains a wrongful act despite the reason behind it. According to this theory, harm and veracity are some of the supra- legal moral principles that defend business ethics as a moral obligation. Veracity principle stipulates that business organizations should not deceive customers for whatever reason. The harm principle deters businesses from carrying on activities that cause harm to both employees and the surrounding society (Fieser). According to virtue ethics, businesses should inculcate virtues to employees. This helps portray a positive image of the business to the outside world this is also supported by the religious fundamentalism that advocates for the principle of human rights. Under this principle, business organizations should consider respect of human rights while carrying on with their business (Fieser). For instance, though permitted by the law to produce and sell products, businesses should focus in interest of stakeholders, consumers and the community at large. It should not produce and sell products that may pose health issues to consumers in the long- run. On the other hand, businesses may act good to fulfill legal requirements. This mostly happens where a

Marketing Essay Example | Topics and Well Written Essays - 3000 words

Marketing - Essay Example Balancing marketing mix enables the business to deliver its product in the right location within the stipulated time. Firms that demonstrate great consumer satisfaction are able to hold on large market shares because they respond effectively to consumer trends. Introduction Sustainability of an organisation depends on economic viability of the business in relation to customer’s behaviour. Business enterprises that post successful results in the market are able to convince consumers to buy their products as well as reciprocating consumer’s behaviour by providing products, which will satisfy consumer demands. Zara is an apparel company with outlets in famous cities of the world. The organisation traces its root in Spain; however, it has branches in major cities of the world. The concept that this paper intend to discuss is marketing of the company product. Marketing is a crucial element for the business because it dictates the viability of the sustainability of the busine ss. The report will explore various marketing aspects such as customer, market environment, and marketing mix in relation to the strategy of the business. Investigation of the above aspects will enable the report to make recommendation as well as developing future strategies of increasing the performance of the business. The operation of the company in foreign markets is a concern of this paper. The choice of market is very critical to the business performance. However, the knowledge of customer choices helps many enterprises to integrate their markets with respect to consumer behaviour. Zara The firm established its operation in 1975 in Galicia Spain. The firm has stretched its operation to cover large cities in the world. It retails products of textile with a focus on fashion trends that dictate the consumer behaviour in the clothing industry. The profit margin of the organisation has been consistently high, demonstrating that the organisation is economically viable. Currently, th e organisation has 2,692 stores across the world (Dutta, 2002:3). The organisation’s aim is to feed the markets with medium quality products at competitive prices. The idea is to ensure that the company products are selling in a highly competitive environment. The organisation relies on consumer trends in designing its products as well as setting the prices of the product. Clothing apparels pose a number of challenges to entrepreneurs because the consumption behaviour changes with fashion trends (Luo, 2008:6). This requirement dictates the marketing strategy of the product. For instance, the organisation has observed that high prices delay stock turn over which eventually reflects on the profit margin of the organisation. Zara’s manufacturing and stocking trend ensures that the customers’ tastes are available in the market at any given time. The idea seems to be influencing the manufacturing trends developed by the firm. Time is a concept that influences product behaviour in most cases. Some product have short expiry period while other have long expiry period. Whatever the case, market response for the company product dictates the manufacturing speed and the profit of the business. For example, Y products in the market may take two months in the market. The two months would be reflecting on the product demand patterns demonstrated by the consumers. However, when the organisation decides to change the prices of the