How to assess socially responsible opportunities first, differentiate between two categories of corporate virtue: virtue's civil foundation by now, the story of malden mills and its owner, aaron feuerstein, is so familiar that the company name has become a sort of shorthand for corporate. Owner/ceo aaron feuerstein decided to continue paying the salaries of all of his workforce until he could finish rebuilding the factory he rebuilt the factory as a more pleasant, sunny, healthy workplace at considerable extra cost to himself and the company. Aaron feuerstein gets checks in the mail from strangers the unsolicited contributions started eight years ago, after the ceo became a hero for good health and a long life to aaron feuerstein, owner of the recently fire-gutted malden mills of methuen, mass, for his broad social and economic vision.
Aaron feuerstein in this paper i will discuss aaron feuerstein, the third-generation president and ceo of mald the fundamental difference is that i consider our workers an asset not an expense i have a responsibility to the worker, both blue-collar and white-collar, i have an equal responsibility. Aaron feuerstein (born 1925) was the third-generation owner and ceo of malden mills in lawrence, massachusetts chief executive officer (ceo) is the job of having the ultimate executive responsibility or authority within an organization or corporation. Aaron feuerstein (born december 11, 1925) is an american businessman, philanthropist, and was the third-generation owner and ceo of when the malden mills factory burnt down on december 11, 1995, feuerstein used his insurance money to rebuild it, and to pay the salaries of all the.
Aaron feuerstein deserves to be applauded as a hero because, despite the company being destroyed by active fire, he employed strong business ethics when he decided to pay the employees until he finished rebuilding the company this was a unique move since it is very rare for a company to pay. Business ethics conventional standards deontological standards economic responsibility ethical responsibility ethics legal responsibility philanthropic responsibility social responsibility teleological standards aaron feuerstein: a case study in moral intelligence. Organizational responsibility corporate social responsibility accept responsibility for behavior although the feuerstein family had demonstrated corporate social responsibility for decades, the business world was nonetheless shocked by his actions following the fire. Corporate social responsibility (csr) is largely associated with big companies they are more high profile and thus attract more media attention and they are particularly concerned to protect and enhance their reputations with the broader public as well as key stakeholders. Aaron feuerstein is president and ceo of malden mills, producer of the revolutionary fabric polartec he is a symbol of a socially responsible business owner off-shoring should include all of the social legislation presently part of federal law: labor safety, social security, disability, outlawing of slavery.
Aaron feuerstein is brimming with energy this cold winterlike day, shunning an overcoat and strutting around his giant new factory last week, aaron feuerstein, son of samuel, grandson of henry, a 70-year-old third-generation mill owner in methuen, mass, became a local hero. Aaron feuerstein kept paying 3,000 workers while rebuilding from the fire on dec 11, 1995, then lost control of the company within several years. Erates socially responsible corporate conduct you'll notice that i refer to corporate responsibility in this article as if it were a product or service by now, the story of malden mills and its owner, aaron feuerstein, is so familiar that the company name has be. Malden's ceo and owner, aaron feuerstein, became the focus of broad press attention seven years ago, when a fire ravaged much of his factory and he decided to shun the idea of resuming his operations overseas, and rebuilt the mill in the same massachusetts community where it had stood.
Aaron feuerstein (born december 11, 1925) is an american businessman, philanthropist, and was the third-generation owner and ceo of malden mills in lawrence, massachusetts he was born in brookline, massachusetts in 1925. Home free articles aaron feuerstein-a socially responsible owner but the december 1995 tragedy at malden mills had a different outcome than most, primarily due to the owner of the factory-aaron feuerstein-and the deep sense of corporate social responsibility he showed through. This is the year of the bad-ass businessman turned bellicose politician but i prefer to write about aaron feuerstein on dec 19, feuerstein, also known as the mensch of malden mills, turns 90 that milestone birthday offers a chance to celebrate humility and honor over vanity and venom.
Instead, feuerstein decided to continue the family business as he announced to his workers four days after the huge fire, and most of the 3000 workers were kept on their salaries this was based on the owner's belief that the worker was not just a tool to keep the factory running, but a very valuable asset. Discuss the pros and cons of aaron feuerstein''s decision making, and explain if or how you would have handled his situation differently if you were in his shoes apply virtue ethics and corporate social responsibility to his situation question #minimum 100 words accepted. Aaron feuerstein modeled great ethics and community awareness throughout his career, especially aaron feuerstein was born in 1925 as the son of a businessman his father and grandfather had if they had to downsize, they did so in a socially responsible way, providing time and resources for the.
Aaron feuerstein born december 11, 1925 is an american businessman, philanthropist, and was the third-generation owner and ceo of malden mills in lawrence i have a responsibility to the worker, both blue-collar and white-collar i have an equal responsibility to the community it would have been. Aaron feuerstein-a socially responsible owner essay. Free essay: case-1 aaron feuerstein-a socially responsible owner the evening of december 11, 1995, was a special time for aaron feuerstein, ceo of aaron feuerstein's commitment to both the company's economic and social mission and goals appeared to have emerged from ashes intact.