Harvard Case - Great Lakes: Great Decisions
"Great Lakes: Great Decisions" Harvard business case study is written by James R. Freeland, Patricia H Werhane, Andrew C Wicks, Jenny Mead. It deals with the challenges in the field of Business Ethics. The case study is 10 page(s) long and it was first published on : Aug 18, 2008
At Fern Fort University, we recommend that Great Lakes Water Technologies (GLWT) prioritize a comprehensive corporate social responsibility (CSR) strategy that aligns with its core values and addresses the ethical challenges it faces. This strategy should focus on building transparency, fostering ethical leadership, and ensuring stakeholder engagement across all aspects of its operations.
2. Background
This case study focuses on Great Lakes Water Technologies (GLWT), a family-owned business specializing in water filtration and purification systems. The company faces a significant ethical dilemma when its CEO, David, discovers that his brother, the company's CFO, has been involved in unethical financial practices. This revelation threatens the company's reputation and raises concerns about its commitment to corporate governance and ethical decision-making.
The main protagonists are David, the CEO, and his brother, the CFO, who represents a significant conflict of interest. The case also highlights the role of other stakeholders, including employees, customers, and the community, who are impacted by the company's actions.
3. Analysis of the Case Study
This case study can be analyzed through the lens of stakeholder theory, which emphasizes the importance of considering the interests of all stakeholders, not just shareholders. The ethical challenges faced by GLWT highlight the need for a robust code of conduct and a strong corporate governance framework.
Key Issues:
- Ethical Leadership: David's response to the CFO's actions will define his leadership style and set the tone for the company's future.
- Conflict of Interest: The CFO's actions represent a clear conflict of interest, raising questions about the company's ability to maintain ethical standards.
- Transparency and Communication: The case highlights the importance of open and transparent communication with stakeholders, especially in the face of ethical dilemmas.
- Corporate Culture: The company's culture needs to be evaluated to understand how it fosters ethical behavior and addresses potential conflicts of interest.
- Risk Management: The case emphasizes the importance of a robust risk management framework to identify and mitigate potential ethical risks.
4. Recommendations
1. Implement a Comprehensive CSR Strategy:
- Develop a detailed CSR strategy that outlines GLWT's commitment to ethical business practices, environmental sustainability, and social responsibility.
- Establish a dedicated CSR committee to oversee the implementation and monitoring of the strategy.
- Integrate CSR principles into all aspects of the business, including sourcing, production, marketing, and customer service.
2. Strengthen Corporate Governance:
- Establish a strong board of directors with diverse expertise and a commitment to ethical governance.
- Implement a clear and comprehensive code of conduct that addresses ethical behavior, conflicts of interest, and whistleblowing.
- Develop robust internal controls and risk management processes to mitigate potential ethical risks.
3. Foster Ethical Leadership:
- Provide ethical leadership training programs for all employees, including senior management.
- Encourage open communication and transparency throughout the organization.
- Create a culture of accountability where ethical behavior is valued and rewarded.
4. Enhance Stakeholder Engagement:
- Establish clear communication channels with all stakeholders, including employees, customers, investors, and the community.
- Regularly engage with stakeholders to understand their concerns and expectations.
- Be transparent about the company's ethical practices and performance.
5. Address the CFO's Actions:
- Conduct a thorough investigation into the CFO's financial practices.
- Take appropriate disciplinary action, including potential termination, based on the findings of the investigation.
- Communicate the findings and actions taken to all stakeholders.
5. Basis of Recommendations
These recommendations are based on the following principles:
- Core Competencies and Consistency with Mission: The recommendations align with GLWT's core values of integrity, sustainability, and community engagement.
- External Customers and Internal Clients: The recommendations aim to build trust and loyalty with customers and employees by demonstrating a commitment to ethical practices.
- Competitors: The recommendations help GLWT differentiate itself from competitors by showcasing its strong ethical standards and commitment to social responsibility.
- Attractiveness: The recommendations will enhance the company's reputation, attract investors, and improve its overall attractiveness to stakeholders.
6. Conclusion
By embracing a robust CSR strategy, GLWT can navigate the current ethical challenges and emerge as a leader in the water technology industry. This strategy will strengthen its reputation, build trust with stakeholders, and ensure its long-term sustainability.
7. Discussion
Alternatives:
- Ignoring the issue: This would be a short-sighted approach that could lead to significant reputational damage and legal consequences.
- Covering up the CFO's actions: This would be unethical and could lead to further legal and ethical issues.
Risks and Key Assumptions:
- Resistance to change: Implementing a comprehensive CSR strategy may face resistance from some employees and stakeholders.
- Cost of implementation: Implementing the recommendations may require significant financial investments.
- Maintaining transparency: Maintaining transparency in the face of ethical challenges can be difficult.
8. Next Steps
Timeline:
- Month 1: Conduct a thorough investigation into the CFO's actions.
- Month 2: Develop a comprehensive CSR strategy and code of conduct.
- Month 3: Implement ethical leadership training programs.
- Month 4: Establish communication channels with stakeholders.
- Month 5: Begin implementing the CSR strategy and governance framework.
Key Milestones:
- Completion of the investigation into the CFO's actions.
- Approval and implementation of the CSR strategy and code of conduct.
- Completion of ethical leadership training programs.
- Establishment of communication channels with stakeholders.
- Public announcement of the company's commitment to CSR and ethical governance.
By taking these steps, GLWT can demonstrate its commitment to ethical business practices and build a sustainable future for the company and its stakeholders.
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Case Description
One of the few remaining producers of lead additives must decide whether to continue producing them for use abroad. Banned in the United States, lead additives were still legal in developing nations. Ellie Shannon, the division manager overseeing bromine production for the Indiana-based Great Lakes Chemical Corporation (Great Lakes), must advise Great Lakes' directors on whether the company should 1) continue production for the foreseeable future, while developing countries moved from leaded vehicles to unleaded vehicles; 2) wash its hands entirely and immediately of the lead additive business; or 3) aggressively phase out its participation in this marketplace, with a five-year deadline, while lobbying for developing nations to switch to unleaded gasoline. Each of the options had its downside, however, financially, operationally, and in terms of reputation. Great Lakes placed a great deal of importance in its shareholders' well-being and in remaining a viable company, but it also wanted to be-and to be seen as-a respectable corporate citizen.
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