Table of Contents
Page No.
Executive Summary 2
Introduction 3
Restructures in Sunbeam 3
Turnaround at Sunbeam 5
Accounting Practices at Sunbeam Corporation 5
Accusations 5
Key Players in Sunbeam’s Scandal 6
Unethical Behaviours 7
Ethical Analysis 7 Stakeholder Theory 7 Deontological Theory 7 Shareholder Theory 7 Utilitarianism Theory 7
Reference 9
Executive Summary
This report is based on Sunbeam Corporation and Albert Dunlap, the CEO from 1996 till 1988. In July of 1996, Michael Price and Michael Steinhardt hired Dunlap as the CEO and chairman of the board for Sunbeam Corporation. As the
…show more content…
They renamed it Sunbeam-Oster Company. Later on, Kazarian was forced out of his chairman position and out of the company. Sunbeam relocated to Florida and purchased the consumer products units of De Vilbiss Health Care. In 1994 Sunbeam-Oster acquired Rubbermaid’s out-door furniture business. The company changed its name back to Sunbeam Corporation in 1995. By 1996 Sunbeam had more than 12,000 stock units, 12,000 employees as well as 26 factories, 61 warehouse and six headquarters. Despite this, the company’s earning had significantly declined by 83% and its stocks were 52% down. Therefore, Sunbeam needed help.
Restructures in Sunbeam
Prior to his appointment, Dunlap had acquired a reputation as one of the country’s toughest executives as well as nicknames like “Chainsaw Al”, “Rambo in Pinstripes”, and “The Shredder” because he eliminated thousands of jobs while restructuring financially troubled companies. His reputation and business philosophy were recognized throughout the world. Later in his career, Dunlap authored a book outlining his strategy, entitled Mean Business, in which he highlights four simple rules of business. They are as follows:
1. Get the right management team. As Dunlap assumes office, he retained only one senior executive from Sunbeam’s old management team. Dunlap first hire was Russ Kersh, a former employee of Dunlap, as executive vice president of Finance & Admin. The new management team also
The problem solving methods that might be helpful to assist Jerry in making an ethical decision would be to establish trust with the patient and become aware of the problem. Then analyze the problems and decide on a plan with the patient. He will then want to make sure he reinforces the commitment to the patient and activate the plan. Last, he will follow through with the task and monitor everything until the situation is taken care of.
On the other hand although their similarities are close knit; they each have a distinct difference depending on the individual. For instance, recently the complex next door caught fire due to bad wiring. The company put all the tenants up for the weekend because they believed that this is what they ought to do. After the weekend the tenants were told that the situation had been turned over to their insurance company and it was out of their hands. The tenants believe that the company should hold their self-responsible and accommodate them much more.
People from all walks of life face many ethical dilemmas. These dilemmas have consequences. Our worldview determines how we deal with these dilemmas, and guides us to the right decisions. In this essay, I will examine an ethical issues through my Christian worldview. I will also present other viewpoints, and compare them to mine.
Jerry McCall is an office assistant for Dr. William’s. Jerry has received training as both a medical assistant and Licensed practical nurses (LPN). During the time the receptionist is out to lunch Jerry is covering for her. Jerry is faced with a common problem in the health care field today. Jerry has been asked to call in a refill for Valium to a pharmacy for a patient. This paper will address why Jerry is not qualified to refill any prescription medication. If Jerry is protected if a lawsuit is filled. Jerry’s decision is a tough one, legal and ethical issues and advice will be provided for Jerry’s use.
If the founders claim there is no need to seek licensing for the UNIX software, that the additional 15,000 licenses are part of the business marketing model to secure additional funding and that no financial implications are pursuant to the action, and that WSIB was an oversight
The client Suzanne is a seven year old girl placed in a treatment center for emotionally disturbed children. This center helps children ages six through twelve years old. Suzanne has been diagnosed with an attachment disorder and has been placed in a group home for two years. There are two types of attachment disorders, attachment and reactive attachment (Smith, 2014). She has been meeting with a facility caseworker weekly for the last eight months. Her three year old sister, Cindy, is also placed in the facility with her. Parental rights are currently being processed to be terminated. The caseworker is looking into alternative long-term placement for the sisters. Each sister has a
What ethical conditions might be involved with either Sierra Golden or Bottle Time Inc. that would make it impossible to continue to collaborate or to accept the funding? Please indicate which principle of the Prevention Code of Ethics may
Earlier in his career, Jim was a controversial figure among investors and financial analysts on Wall Street. They blamed Jim for being too generous towards Costco’s employees and not bringing immediate profit to the shareholders1. But after weathering the recession and retaining a return rate of over 10 percent, Jim Sinegal is now revered on Wall Street. His ideology of building a long-lasting company has been successful. Additionally, during the recession, unlike other CEO’s, Jim implemented policies that prevented lay-offs and, in the process, managed to keep Costco’s balance statement in the black. He used strategies such as establishing a strong identity for their private-label offerings. For example, after the economic meltdown, Kirkland Signatures (Costco’s private label) was able to provide customers with a low cost alternative while maintaining the quality they were accustomed to.
Nurses are faced with ethical issues and dilemmas on a regular basis. Nurses must understand his or her values and morals to be able to deal adequately with the ethical issues he or she is faced with. Some ethical issues nurses are exposed to may be more difficult than others and the ethical decision making process is learned over time.
Choice 2: A married couple, both addicted to drugs, are unable to care for their infant daughter. She is taken from them by court order and placed in a foster home. The years pass. She comes to regard her foster parents as her real parents. They love her as they would their own daughter. When the child is 9 years old, the natural parents, rehabilitated from drugs, begin court action to regain custody. The case is decided in their favor. The child is returned to them, against her will. Does ethics support the law in this case? Discuss.
Through out his tenure at Sunbeam,Al Dunlap’s advocated profit by firing many employees and shutting down many factories.If we look at it in the short term ,this approach seems very attractive as it brings in quick short term
Build a mirror CRM production system over the next two weeks so that a rebuilding of the main CRM system could occur to plug security holes and assure that another DoS attack would not be successful.
Management constitute amongst major components of a company, organization or a business. As such, management oversees employees interactions with their supervisors and also control of people within a particular organization. Also, it includes critical and ethical decision-making process so as to address various ethical dilemmas experienced by employees while undertaking their respective assigned duties within the company. Ethical dilemmas are hereby to stay as issues usually arise now and then and place a variety of options that bear different repercussions. Therefore, it calls for ethical and critical decision-making skills so as to make the most appropriate option that bears more benefits in comparison to other options presented. While making ethical decisions, it 's substantially important to play heed to a certain ethical decision-making theory. This would enable an individual making the decision to ripe best possible consequences rather than living to regret. Moreover, ethical decision making is typically important in business as making a wrong decision may result not only in huge losses but also poor relationship amongst colleagues and miserable life for employee(s) working in a particular company or business in question.
Following are the changes that Al Dunlap initiated after being hired by Sunbeam Inc and the probable opportunities that Dunlap used to manage earnings:
The ethical dilemma is a situation by which it’s difficult to determine whether a situation is can be handled without disappointing both sides. Therefore, an ethical dilemma exists when the right thing to do is clear or when members of the healthcare team cannot agree on the right thing to do. Ethical dilemmas require negotiation of different points of view (potter, Perry, Stockert, & Hall 2011pg 78).