Business Ethics Essay Example for Free

Business Ethics EssayIn 1956, the Mondragon Cooperative Corporation, or MCC, made a small start in Basque region of Spain, at the inaugural of five young engineers, inspired by a Catholic priest by the name of Jose female horse Arizmendiarrieta. Today it has emerged as a truly multi-billion dollar international enterprise with a highly structured network of 100 MCC cooperative enterprises and competes quite winnerfully with conventional capitalist corporations both locally and worldwide.The success of this alternative business model in predominantly capitalist system can be judged from the detail that today there are 750,000 co-operatives worldwide with about 760 million members. There is abundance of information and belles-lettres documenting the success of the Mondragon try and its comparative analysis with conventional capitalist corporations on various organisation aspects. This attempt aims to put a special focus on position and treatment of two key stakeholders, shar eholders and employees, slice comparing MCC with General Motors (GM), a well renowned US corporation.This essay is structured into four sections the runner outlines the historical development and ethical foundation of the MCC in much abbreviated terms. The second section provides a generic and ideological comparison the two corporations. The third section adds granularity in similarities and contrasts with specific examples from MCC and GM. The tail section aims to touch upon the ethical perspectives within the two corporations and critiques the approaches. Finally, Section five, concludes the essay by presenting key insights from the MCC experiment for corporations in 21st century.