Designing an Ethical Start-up Venture
Added on 2019-09-23
13 Pages2879 Words180 Views
|
|
|
EthicsName of the students:Name of the University:Author’s Note:
Table of ContentsOverview of the companies:.......................................................................................................3Zenefits...................................................................................................................................3Theranos.................................................................................................................................3Ethical or legal issues:................................................................................................................4Zenefits...................................................................................................................................4Theranos.................................................................................................................................5Stakeholders:..............................................................................................................................6Zenefits...................................................................................................................................6Theranos.................................................................................................................................7Generation of the alternatives:...................................................................................................8Alternative 1...........................................................................................................................8Alternative 2...........................................................................................................................9Alternative 3...........................................................................................................................9Evaluation of each of the alternative:.........................................................................................9Alternative 1...........................................................................................................................9Alternative 2...........................................................................................................................9Alternative 3.........................................................................................................................10Recommendation of the best alternative:.................................................................................10References................................................................................................................................11
Overview of the companies:Zenefits:This company came into existence due to the efforts of Parker Conrad in the year 2013. Themain purpose of starting Zenefits was to eliminate the necessity of investing huge time, costand effort by the various companies on their managerial needs or paperwork. The founder ofthe company noticed that the management of several companies have to spend hours of workand labour in activities that do not form the core of business operations of the entity. Inaddition to that they require employing a separate HR department for maintaining andstreamlining the activities of the employees engaged in the provision of these non-coreactivities of the entity (Suddath and Newcomer, 2016). The same was achieved by the entityby performing all these managerial and clerical work on an online platform that eliminated alot of useless costs and the need to employ a full-fledged HR department. Theranos:The company was started by Elizabeth Holmes. The funding of the company came fromprominent venture capitalists like Draper Fisher Jurvetson and Larry Ellison. The amount ofcapital raised by the owner of the company amounted to around US $ 700 million. The mainpurpose for which the company started out its operations was to eliminate or reduce theinvolvement of human touch in the process of monitoring the health of the patient. It is awell-known fact that the dosage and the kind of medication to be given out to the patientdepends significantly on the individual’s health (Hartmans, 2018). For the same purpose thedoctors are required to keep a strict vigil in respect of the health status of the patient everytime. Hence, for the purpose of eliminating this need the company started out its operationswith the goal of providing the patients with wearable devices that will be capable ofmonitoring the current health status of the patient with the help of blood testing. It will be
done by the device itself with a little prick on the fingertips of the patient. The devicesintroduced by the company were fully capable of monitoring the blood samples of thepatients, administration of the requisite medicine and in addition to that adjust the dosage thatis required to be given out to the patients. Ethical or legal issues:Zenefits:Some of the ethical issues that are present in the company are as follows:i)One of the significant ethical issue that is faced by the company is the way theemployees had to operate or carry out their day to day operations. They were inconstant fear that any mistake on the part of the company will result in thereduction in the growth rate of the company. ii)Another ethical issue corresponds to the absence of the quality check of theservices and the products that are supplied by the company to its customers. It hasbeen found in many instances the customers have found it difficult to make theirrespective claims and the response time of the employees of the company was toolong. In some other cases the name that appeared in the system was spelledincorrectly (Davison et al., 2016). The employees of the company were very fastin carrying out their duties but at this significantly marred the quality of theservice that is being provided to the consumers of the company. Some of the legal issues prevalent in the entity are as follows:i)The HR software that was provided free of cost by the company to its customerswas in violation to the rebates that is lawfully allowed to the customers of theentity.
End of preview
Want to access all the pages? Upload your documents or become a member.
Related Documents