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Essay / Case Analysis "Dealing with a Fire" - 1431
In the case "Dealing with a Fire" prepared by Ann Buchholtz, there are several issues and questions to identify to determine whether Herman Singer should rebuild the factory due to fire or retire its insurance is reimbursed. I believe this case is about social reform and self-interest. I think Singer needs to ask himself what is in the best economic interest of the company. There are several questions to ask in this case: what should Herman Singer do and why, should he rebuild the factory or retire, if he rebuilds, should he move the company to an area where wages are lower and what provisions, if any, should Singer make for its employees as well as the community? The first question to consider is what should Herman Singer do and why. The central fact or issue in this case is the fire and the question of whether to rebuild the factory or retire. Because of the fire, profits have declined and unemployment has increased, which could hurt the community of a small New England town. So what should Herman Singer do and why? Herman Singer must consider several issues to determine whether or not he should rebuild the factory or retire with his insurance proceeds. Singer must consider several questions before making his decision. The first issue is Corporate Social Responsibility (CSR). Corporate social responsibility is the area where we consider the impact of the company's action on society. Within CSR you have four responsibilities, economic, legal, ethical and philanthropic. Herman Singer must examine all of this to ensure that the action he is going to take is an economic, legal, ethical and philanthropic approach to his business and society. He must consider all issues that could affect the business as well as society before determining whether to rebuild or retire..