As manager of the facility, I would install the additional controls
As manager of the facility, I would install the additional controls. When using shareholder theory, it makes more sense monetarily. The cost to install additional controls is higher than doing what is legally mandated, but, the benefits to profits and to the business is why it makes sense to spend more initially. The cost to people and to the environment is more than the cost for additional controls. It also is more costly to backtrack and to try to undo harm that the chemical may cause than spending more money to provide additional safety features from the beginning. Lawsuits, clean up efforts, fines, and damage to the environment or people in the area can be more costly than providing safer controls that attempt to minimize any damage the chemical may cause. The additional controls keep the company from having blame for any issues that may arise. It also shows that there is a concern for both the environment and the people in the area. Showing that the company means to do good leads to a positive public view of the company. Also, the people who live in the area do not have to live in fear or feel afraid of what the company is doing to their neighborhood. It is considered unethical to not provide additional testing. If a problem is known and nothing is done about it but the bare minimum, it is considered unethical even if it is legal. The quiz from week four’s assignment stated this. Unethical decisions decrease profits according to shareholder theory (Langvardt, 2019). Since the point of shareholder theory is to maximize profits, doing the minimum required in this instance is not the best choice of action. According to the EPA (2020), “EPA may revise the designation of a Low-Priority Substance to a High-Priority Substance based on information available to the Administrator”. Meeting the minimum requirements set by the EPA is a solution for the present. To have a business that is successful and that provides revenue for the long-term, it is necessary to install additional controls. Any changes to the EPA requirements in the future will be less costly due to the additional measures implemented initially. According to justice theory, society owes a duty to the disadvantaged (Langvardt, 2019). If the company disregards the opportunity to install additional controls, it shirks its responsibility as a part of society. Nearby residents, who are disadvantaged by the introduction of a chemical into their environment, are owed the introduction of additional measures to ensure their safety. ReferencesEPA.gov. (2020). https://www.epa.gov/assessing-and-managing-chemicals-under-tsca/prioritizing-existing-chemicals-risk-evaluationLangvardt, A. W., Barnes, A. J., Prenkert, J. D., McCrory, M. A., & Perry, J. E. (2019). Business law: The ethical, global, and e-commerce environment (17th ed.).
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