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Assignment 3: Not All Companies Are Viewed as Equal

Essay Instructions:

Assignment 3: Not All Companies Are Viewed as Equal
Assignment 3 Persuasive Essay Template
Due in Week 6 and worth 125 points
In the land of free trade, the public does not view all industries as equal. Do you believe that is ethical? Do you believe that some industries are unfairly targeted? Should it be consumers’ choice to partake in products that are not healthy for them, or do those companies have an ethical obligation to protect people? In this assignment, you will choose from one (1) of the following industries to write about:
The pharmaceutical industry
The payday loan industry
Cloning for medical purposes
Write a paper in which you:
Become an advocate for either the consumer or the industry. Prepare an argument explaining the major reasons why you support either the consumer or the industry.
Discuss if you believe it is possible for a company to cater to both its best interest and that of the consumer conjointly or if one always has to prevail. Justify your response.
Use at least two (2) quality references. Note: Wikipedia and similar Websites do not qualify as academic resources.
Your assignment must follow these formatting requirements:
This course requires use of Strayer Writing Standards (SWS). The format is different than other Strayer University courses. Please take a moment to review the SWS documentation for details.
The specific course learning outcomes associated with this assignment are:
Determine the considerations for and process of ethical business decision making to balance corporate and social responsibilities, and address moral, economic, and legal concerns.
Analyze selected business situations using the predominant ethical theories, such as utilitarian, Kantian, and virtue ethics to guide ethical business decision making.
Use technology and information resources to research issues in business ethics.
Write clearly and concisely about business ethics using proper writing mechanics.
In the land of free trade, the public does not view all industries as equal. Do you believe that is ethical? Do you believe that some industries are unfairly targeted? Should it be consumers’ choice to partake in products that are not healthy for them, or do those companies have an ethical obligation to protect people?
In this assignment, you will choose from one (1) of the following industries to write about:
• The pharmaceutical industry
• The payday loan industry
• Cloning for medical purposes
Once you’ve gone through the worksheet and answered all the questions you will take that information and write your paper. It will basically be a transfer of information from the worksheet to a paper format.
DO NOT just turn in the worksheet. It will be sent back for a rewrite.
1. Choose an industry.
2. Will you be an advocate for the consumer or the industry?
3. Develop 3 reasons why you support the consumer or the industry.
• Reason 1
o Supporting evidence for that reason
• Reason 2
o Supporting evidence for that reason
• Reason 3
o Supporting evidence for that reason
4. Is it possible for a company to cater to both its best interest and that of the consumer conjointly or if one always has to prevail?
• Reason 1
o Supporting evidence for that reason
• Reason 2
o Supporting evidence for that reason
• Reason 3
o Supporting evidence for that reason

Use at least two (2) quality references. Note: Wikipedia and similar Websites do not qualify as academic resources.
Your assignment must follow these formatting requirements:
This course requires use of Strayer Writing Standards (SWS). The format is different than other Strayer University courses. Please take a moment to review the SWS documentation for details.

Essay Sample Content Preview:

Not All Companies are Viewed as Equal
Name
Course
Institutional affiliation
Industry: Payday Loan Industry
The payday loan industry in the United States is widely and not narrowly known to providing access to small short-term loans to workers with a rather low income. The industry has been in existence for quite some time now and lenders have common features such as setting annual high interests of up to 400 percent for their loans, which must be paid within the next paycheck CITATION Gar11 \l 1033 (Rivlin, 2011). Their interests are close to a dozen times higher than the normal lending rates in the United States. In this short essay, I will be advocating for the consumer.
Reasons in Support of the Consumer
The first reason why I support the consumer is based on the common feature among players in the payday loans industry. Unlike most financial loans, payday loan lenders do not seek to know the credit worthiness of the borrowers. Therefore, they give payday cash advances without asking for any security. The lenders are only interested in the borrower’s bank account and proof that they are salaried CITATION Vic19 \l 1033 (Bajtelsmit, 2019). While some proponents argue that the payday loan industry ensures that there is an easy access to loans for people who would otherwise not access such advances in case of an financial emergency, it is important to also consider the fact that these loans prey on economically susceptible employees who have to repay these expensive loans within such a short period.
The second reason in support of consumers is also based on the fact that since these payday loans are easy to access, customers usually take up new loans offset old ones and thus putting them into a cycle of debt traps that they may not be able to repay in the long run. This shows that the industry does not provide a borrowing environment for consumers to act in their own best interest when borrowing these loans CITATION Vic19 \l 1033 (Bajtelsmit, 2019). All the lenders in the industry care about is making money out of cu...
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