BMGT 496UMUC Business Obligations Marketing Essay

Create
a Word or Rich Text Format (RTF) document that is double-spaced,
12-point font. The format should be in memo form. The final product will
be between 8-10 pages in length excluding the title page and reference
page. Write clearly and concisely.

Create
a Word or Rich Text Format (RTF) document that is double-spaced,
12-point font. The format should be in memo form. The final product will
be between 8-10 pages in length excluding the title page and reference
page. Write clearly and concisely.

Instructions:

You
serve as the assistant to the very recently appointed CEO of a
prominent start-up that is beginning to grow rapidly. The new CEO, Tara
Richmond, is a former general who gained visibility in the military for
her outstanding leadership qualities. Since her arrival, the Board of
Directors has had spirited debates on several proposals that would
increase corporate profits but would work to the disadvantage of some
members of the public as well as other stakeholders. Some members of the
board are arguing that the only obligation the company has is to make
profits for the stockholders. Other members of the board are arguing
that the company has an obligation to the community and to stakeholders
other than just the stockholders.

Your
boss is baffled by the debate. “When I was in the military, my duties
to others were clearly laid out. Here, I am unsure to whom the company
owes a duty.” She turns to you for advice, requesting that you draft a
memo that explains what the company’s ethical obligations are in
situations like these. She asks you to start with Milton Friedman’s
opinion piece in 1970, arguing that a company’s only ethical
responsibility is to make profits.

She
also asks you to review a much more recent memo from the Business
Roundtable that takes a more expansive view of the responsibilities of a
company. The Business Roundtable consists of CEOs of Fortune 500
companies, many of whom are familiar names to her.

You
should do additional research on arguments for and against Friedman’s
proposition. Using your classroom materials as well as external sources,
respond to the following prompts:

1. Explain Milton Friedman’s arguments supporting that a company’s only obligation is to make money.
2. Explain
   the arguments contrary to Friedman’s position including where the
   Business Roundtable stands as well as other arguments you find in your
   research.
3. Using
   one of the ethical issues that you posted in classroom discussions,
   illustrate for the CEO, how that issue would be resolved using
   Friedman’s perspective and how it would be resolved using the
   perspective of the Business Roundtable.
4. Which of these positions do you find most compelling and why?

Your memo should begin with an introduction and end with a conclusion where you make recommendations to the CEO.

Course Material and Research

This project requires you to do research on UMGC Library Databases or on the Internet.
You are expected to use course material going beyond defining terms.
You are expected to explain the ‘why and how’ of a situation. Avoid
merely making statements but close the loop of the discussion by
explaining how something happens or why something happens,
which focuses on importance and impact. In closing the loop, you will
demonstrate the ability to think clearly and rationally showing an
understanding of the logical connections between the course material and
the question(s) being asked. Using one or two in-text citations from
the course material throughout the entire paper will not earn many
points on the assignment. The support must be relevant and applicable to
the topic being discussed. Points are not earned for mentioning a term
or concept but by clearly and thoroughly explaining or discussing the
question at hand.