Trust Issues in a Market Economy

Trust Issues in a Market Economy

Robert A. Schultz (Woodbury University, USA)
Copyright: © 2006 |Pages: 12
DOI: 10.4018/978-1-59140-779-9.ch006
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Abstract

In a competitive market economy, one is required to serve the interests of one’s employer or corporation. As we saw in Chapter IV, Professional Duties, one can do this in several different roles: as an employee, as a manager, or as a consultant. In each of these roles, one’s duties are often fairly clear. But there are a number of circumstances in which these duties are not the final word. First, when corporate boundaries become blurred, as they are in contemporary supply-chain management, new ethical issues arise. In a traditional market situation, agreement with another company to charge a fixed amount is often collusion or price fixing and is both illegal and unethical. In a supply-chain context, agreements that a supplier charge a fixed amount are essential for vendor managed inventory. They are not illegal and not regarded as unethical. Similarly, outsourcing agreements require companies to be concerned for each other’s well-being.

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