Businesses are driven by how much profit they make for every financial year, the need to make these profits should however not over shadow the needs of the society in relation to whatever the business offers. There should be a set of rules add regulations that govern the everyday running of a company, these rules should govern the company as a whole as well as the individuals representing it (Kolnai & Dunlop 2005). The business has a moral obligation to ensure that its activities are transparent and acceptable. The products that are sold by the various businesses have to be known to the customers so as to increase the demand. The more the demand then the more the profits made. Businesses have there devised various ways of advertising themselves in manner that allows them reach many people over a wide area, for example by using national television advertisement, radios, news papers ,sponsorship of well performing teams and individual well performing players.
Sponsorship of greatly performing teams and sports men has helped companies reach many people. Whenever a team that is sponsored participates in a tournament, the fans to this team will always want to be associated to everything in the team. For instance a team whose jerseys have the name fly emirates will always want to be associated with the Airline Company, similarly, people would want to associate themselves with a highly performing player, there are cases where both the young and the old adore such player to the extent that they consider the players part of their lives and great role models so that they would want to be a part of is associated to such players will in the sense that they would buy anything with the players name on. It is for this reason that companies decided to Sponsor Tiger Wood whose records as a professional golfer are overwhelming and associating themselves with Tiger would make many people across the globe to buy their products.
Sponsors always have great expectation of those they sponsor considering that the character, achievements and failures of those sponsored can greatly affect their products. A sponsor would want that the people or group that he sponsors contribute in as many tournaments as possible because this would increase the frequency in which the company is advertised and therefore reach many people. The sponsor would as well want that the person or group he sponsors should win as many times as possible because every one wants to be associated with a winner and never with a looser.
Tiger Woods is a sportsman with great achievements since his childhood, he started learning to play golf when he was as young as two years old and developed to be a perfect golfer participating in various competitions both in junior school, senior school, and college and as a professional. Woods was mentioned the youngest and the first American to win the masters tournament in 1997. He also won the PGA player of the year and was the first person to win this title after his first season in professional golfing.
Being a person with great reputation in the sport, many companies came forth to sponsor Woods with the aim of advertising themselves as well as funding Woods projects such as the Woods charities. No doubt that most of the objections of the various sponsoring companies were met considering the achievement that Woods has accomplished over the years and the many fans he has across the globe. The fact that he is black and participating in a sport that was largely dominated by the whites makes man y people to get interested in what he is doing and want to associate with him. This greatly helps the companies that market them selves through him.
Reputation of both the sponsor and the sponsored is a very important factor that determines whether one would go into the deal or not. For instance a charity that greatly concentrates on the child welfare can not easily accept sponsorship from alcohols producing company while accompany would not sponsor some welfare that is associated with racism. Either way, whoever is represented or represents may feel the impact of the association. Companies specifically get to feel so much the impact of whoever represents them because when represented by people or organizations that p0eople have something against then you automatically feel the impact considering that a large section will directly relate your product to whoever represents you.
Many companies may consider withdrawing from sponsoring Tiger Woods because of the feeling that most of the women across the world will have against the player. Most women will take it an ethical for a man so successful to cheat on his wife, this would portray the businesses s that sponsors Woods as one that is insincere and supports the acts that the player so con firmed. The purpose of the business sponsorship is to make it acceptable throughout the market, considering the extension of the sponsorship contract between a company and Woods would therefore face rejection from most of the women.
A business wants its name an all the major tournaments, after Woods scandal he did opt to take a break from participating in the competitions because he did feel that whatever he had done was acceptable, that is the impression he sent to the whole world that he does mistakes then take as a break before resurfacing this actually make the business be advertised on and for this reason ethically business should withdraw its sponsorship.
The religious group which greatly considers infidelity as a sin will as well criticize not only the act but those that the player represents, business requires that in marketing it self it expands its market and never to limit it. By continuing to sponsor Tiger Woods then indeed will be narrowed considering that many of those that are believers of the various religions that preach against infidelity will obviously preach against those that sponsor the player. Christians for example discourage infidelity in the sense that it is a sin that can lead you to hell, this therefore makes them perceive Wood and everything associated with him as sinful.
Business ethics requires that a business is transparent in whatever it does (Ferrell, Fredric & Linda, 2006). This means that people have write to know the activities that a company carries out in producing and marketing their products. Infidelity obviously not done in the open portrays Woods as a dishonest person. A company that sponsors a person that is transparent in whatever he does would portray a company as not being transparent in the same way. This obviously would make people distance themselves from a non transparent company. This is a reason that should make companies distance themselves from sponsoring Tiger Woods.
The ethics of any business requires that all activities that are carried out within the business are acceptable. The people who are associated with the business have also to do things that are acceptable to the society, the acts of Tiger Woods received enormous criticism from all overt he world. Many people felt that the acts of Woods were not only wrong but punishable as well. The family of the player felt that the action which Tiger did was an acceptable so that for a period of time, Tiger stayed away from his family. If a product is associated with Woods at this time then it would be considered not transparent hence the need to stop sponsoring Tiger Woods.
Decisions made in a business have to be smart and constructive so are the representatives of the business ( Frederick, 2002). By accepting and apologizing, Tiger Woods attested to the fact the decisions he made were not smart and that he was wrong and was at the verge of destroying his family. Anything therefore that is associated to this player may be seen as unwise and that it may be destructive to people in one way or the other. It is very important that the customers to your business trust in the decisions you make as a business, so that they relay on you to solve their problems. This way they come to you in fool confidence that whatever needs they have shall be solved. In this respect, it is not recommended for any company to associate itself to Tiger Woods at this Time.
Moral decisions should be made in any business, so that what ever the outcome, good or bad, any business should be able to support its decision in doing whatever action they undertake. The action by Woods was quit immoral for nowhere in the word is it acceptable to be engaged sexually with a person that is not legally married to you. If a company is perceived to be immoral then it translates to an accountability were wrong things will repeatedly happen with no one being held accountable.
Businesses should reveal information whether good or bad, in sponsoring Woods then they would be tying to protect or rather overshadow the reality which is that a person t5hey are associating with made a wrong decision and made a great mistake. They would be also giving people that the actions one takes so long as it does not affect the company directly then it does not concern them. This seriously affects the perception people will have about a business and may end up affecting the business quite seriously in a near future.
Whatever a company gets from materials, to contracts, to awards and profits have to be truthfully and openly earned. Woods used his money to lour the mistresses to extend sexual favors to him. If this is associated to a company then it would as well mean that whatever the reputation the company has was not legally earned but rather the company uses bribes to obtain favors. This would impact negatively to a company because people may start doubting on how genuine the goods and,/or services offered by the company.
Even as we think about whether businesses should continue sponsoring Tiger Woods ethically he should think within himself about his actions reported last year as having extra marital relationships with multiple women and ask himself if in relation to business he still feet's to get sponsored by various businesses. The easiest way is to for everyone to take responsibility of his or her actions in a business to ensure that what they do is wholly acceptable (Malachowski, 2001).
Tiger Woods might have been wrong but he came forward accepted that whatever he did was wrong and asked for forgiveness. Furthermore he whatever he the actions that he did were totally far from his profession as a golfer. Business ethics require that a person takes responsibility of the actions he takes which obviously Woods did. Now that he did it is accept table for the businesses to asses the how badly their businesses would be affected if they continued to sponsor Woods before considering withdrawal
Ferrell, O. C. Fraedrich, John & Ferrell, Linda. Bussiness Ethics: Ethical Decision Making and Cases. ; Cengege Learning, 2006.
Kolnai, Aurel & Dunlop, Francis. Sexual ethics: the meaning and foundations of sexual morality. ,Ashgate Publishing, Ltd., 2005.
Malachowski, Alan R. Business Ethics: Methodological issues. Taylor & Francis, 2001
Frederick, Robert. A companion to business ethics. Wiley-Blackwell, 2002.
If you are the original writer of this essay and no longer wish to have the essay published on the UK Essays website then please click on the link below to request removal:
More from UK Essays
- Free Essays Index - Return to the FREE Essays Index
- More Finance Essays - More Free Finance Essays (submitted by students)
- Example Finance Essays - See examples of Finance Essays (written by our in-house experts)
Need help with your essay?
We offer a bespoke essay writing service and can produce an essay to your exact requirements, written by one of our expert academic writing team. Simply click on the button below to order your essay, you will see an instant price based on your specific needs before the order is processed: