Midterm Exam Term Paper Example | Topics and Well Written Essays - 1250 words

Midterm Exam - Term Paper Example Where regulations put in place are non-enforceable; feedback from the regulatory cycle ensures that the necessary adjustments to the legal framework take effect. In a regulatory cycle, consultation should be taken in priority at all stages. When consultations are carried out early in the regulatory process it is easy to understand the nature and extent of the range of possible options that can address it together with potential costs involved. When it comes to government policy and consultation, it leads to establishment of best practice on stakeholder consultation in aim of maintaining a better regulatory process. The regulatory process played a major role in the automobile industry. The cycle required the management to re-strategies their future plans according to the set regulations. As part of the regulatory cycle, carbon constrains policy measures were being introduced into the system, which meant a drastic measure for the automobile industry. The policy is designed to moderate the emission of carbon dioxide (CO2) together with other greenhouse gases. Regulating the emission of carbon dioxide directly affects the motor industry, which means that management decisions in the automotive industry had to be adjusted. The management of automotive industry was forced to change their plans as the new regulations meant that their products were supposed to meet certain standards for them to gain market. The key idea is that if the industry is facing pressure to minimize carbon emission then the costs for manufacturing will definitely go high as a result the vehicle pricing will have to go high. Another thing that management will have to come up with is the change in competitive advantage. Increased technologies, advanced engines, and designs will no longer be the basis of competition this is something that management needs to understand. Instead, management will have to focus on a rather different strategy that incorporates reducing carbon dioxide emission in order to stay competitive. Question 2 After a careful analysis of Kellman’s critique on cost benefit analysis, I find it logical to agree with his ideas as decision-making should be something taken while focusing on all considerations. It is rather unfair for decisions to be made in terms of benefits alone instead of weighing other factors involved such as moral and ethical consequences (Kellman). It is true that on a moral level cost benefit analysis cannot be suitable for making all life decisions. Just as he explains with critical assessment, the negative and positive consequences that are experienced from an act in most cases go beyond the act’s instantaneous consequence. Perhaps one of the most affected group is the minority, as cost benefit analysis never concentrates on the minority. Furthermore, negative group against moral consideration in making decision is another group that Kellman introduces as utilitarian. This group makes decisions on their acts whether they a re wrong or right it all depends on its consequence of action. If there were satisfaction then they would maximize their satisfaction believing that whatever they are doing and generally believe that it is right. My opinion would be cost benefit analysis only ought to be made after all other needs are met such as whether the decision is morally accepted and are there any groups of minority. Corporate sustainability is an approach that brings in a long-term employee and consumer value