Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Basic Finance Expert

A company that fabricates heat exchangers, which shall be called ABC for the purposes of not exposing it to an unwarranted audit, became aware in 2007 through an associational membership meeting that the Occupational Safety and Health Administration (OSHA) had enacted a new standard. This new standard, called Chromium VI established a new action level for Hexavalent Chromium that affected all fabricators of alloy metals. The company soon afterwards contacted their outside safety consultants, in whom they entrusted their safety program, and asked about specifics of the new standard. It is important to note that the outside consultants also represented other metal fabricators who made heat exchangers. The consultant group began looking further into the new requirement on behalf of their clients. Unfortunately, for the next year, there was very little education or direction from the outside consultants and very little communication regarding the health issues and enforcement penalties that could occur if found non-compliant by

OSHA (OSHA, 2009). They also were lacking in providing timely industrial hygiene monitoring.

In May of 2008, ABC hired an internal Safety Coordinator who also shared duties in Quality Inspection. One of the first projects assigned to the Safety Coordinator was to investigate the new Chromium VI standard and provide direction on how to comply. The Safety Coordinator had extensive safety experience in other industries, which allowed him the capability to approach this new learning experience with a satisfactory background. There were several ethical dilemmas that had to be thought through. Conversations on the subject included presenting facts as well as the morality of the situation with shop management and upper management. The Safety Coordinator had to convince all of the decision makers of the moral need to comply fully with the standard.

Questions

1. The dilemmas in company ABC can be presented and solved using different approaches. Discuss these approaches.

2. "The moral system of a company forbids certain behavior and enjoining certain behavior as right." With relevant examples from the case, discuss the purpose of morality on company.

Basic Finance, Finance

  • Category:- Basic Finance
  • Reference No.:- M9791027

Have any Question?


Related Questions in Basic Finance

What are financial ratios commonly used in quantitative

What are financial ratios commonly used in quantitative models of debt ratings? List THREE financial ratios that represent three different factors and explain why these ratios can capture the company's ability to meet it ...

Describe the theoretical problems of ethics 3 the

Describe the theoretical problems of ethics (3), the objectives to solving them.

Question - phone ltd plans to open an outlet at a shopping

Question - Phone Ltd plans to open an outlet at a shopping mall. The investment requires an initial outlay of $90,000 which is expected to be financed through a bank loan. A discussion with the mall management reveals th ...

Jane and john doe are twinsnbspjane saves 10000 per year

Jane and John Doe are twins. Jane saves $10,000 per year from age 25 to 34 and nothing from age 35 onward (10 years of saving in total). John saves nothing from age 25 to 34 and $10,000 from age 35 to 64 (30 years of sav ...

Assume now that you are an active investor and that your

Assume now that you are an active investor and that your research suggests that an investment in Disney will yield 12.5% a year for the next 5 years. Based upon the expected return of 9.95%, you would ¤Buy the stock ¤Sel ...

Suppose you are going to receive 14100 per year for six

Suppose you are going to receive $14,100 per year for six years. The appropriate interest rate is 6.9 percent. a. What is the present value of the payments if they are in the form of an ordinary annuity?  (Do not round i ...

What are the differences between a cash budget and an

What are the differences between a cash budget and an operating budget and Why might both be important to a small business?

Question - if tapley inc borrows 500000 on a 10 add on

Question - If tapley inc borrows 500000 on a 10 add on basis payable over 3 years in 36 equal end of month installments how large would the monthly payments be?

Matt johnson delivers newspapers and is putting away 15 at

Matt Johnson delivers newspapers and is putting away ?$15 at the end of each month from his paper route collections. Matt is 10 years old and will use the money when he goes to college in 8 years. What will be the value ...

Question - defenestration industries plans to pay a 400

Question - Defenestration industries plans to pay a $4.00 dividend this year and expect that the firm's earnings are on track to grow at 5% per year for the foreseeable future. Defenestration's equity cost of capital is ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As