|Due By (Pacific Time)||12/06/2016 09:00 am|
Ethical Decision Making
After reading about Bill Daniels and the story about the insurance company in Chapter 5 of Gonzalez-Padron (2015), answer the following questions in essay form:
Incorporate key words and phrases from Chapter 5 of the text and at least two additional sources into your responses. Use your own words to define the key words and phrases you incorporate. Be sure to cite all sources in the body of your paper and on the references page.
Must be three double-spaced pages in length
Must end with a conclusion that clearly summarizes what was presented in the paper.
Business Best:Bill Daniels’s Principle-Based Ethics
BillDaniels was a business leader who followed his principles and values throughout his career. Most know ofBillDaniels as apioneer in cable television, starting with his first cable business in Casper, Wyoming in 1953.Bill went on to own and operatehundreds of cable TV systems across the country. He foundedDaniels & Associates, a nationally recognized provider ofinvestment banking services to media and technology companies. His leadership helped bring numerous high-tech andcommunications companies to Colorado.
Bill attributed adoption of ethical principles to his experiences with sports coaches while attending high school at the NewMexico Military Institute. He strove to build a reputation of integrity. The following story demonstrates Bill’s principle-basedmoral reasoning in action.
In 1952, Bill opened a small insurance agency in Casper, Wyoming, and struggled to make it over the next threeyears. Then in 1955, one of the insurance companies he represented went broke, leaving the policyholders high and dry.Bill stepped in for his client, feeling that he had represented the terms and his integrity was at stake. As heexplained:
“Two weeks after the bankruptcy, Burlington Railroad sued one of my clients—to whom I had sold a liability policy—for $12,500. A judgment was entered against my client for $11,000. I made a deal with Burlington Railroad to paythis judgment off at $500 per month, over a 22-month period. I did not have to do this, but I had a strong convictionthat I owed this to my insured who had placed his faith in my handling of his insurance business. During this time,the $500 payment was more than I was making per month. I managed, however, through borrowing and juggling offinances, to do this.” (The Life & Legacy ofBillDaniels, 2012, p. 118)
Gonzalez-Padron, T. (2015). Business ethics and social responsibility for managers [Electronic version]. Retrieved from https://content.ashford.edu/
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