Harvard Case - Three Problems in Protecting Competition
"Three Problems in Protecting Competition" Harvard business case study is written by Benjamin Edelman, Lena G. Goldberg. It deals with the challenges in the field of Business Ethics. The case study is 12 page(s) long and it was first published on : Nov 28, 2016
At Fern Fort University, we recommend a multi-pronged approach to address the three problems in protecting competition outlined in the case study. This approach emphasizes a strong commitment to ethical leadership, corporate responsibility, and robust corporate governance practices. We propose a combination of internal policy changes, external engagement, and proactive collaboration with regulatory bodies to ensure a competitive and fair marketplace.
2. Background
The case study 'Three Problems in Protecting Competition' highlights the challenges faced by a fictitious company, 'Ferndale,' in navigating complex ethical dilemmas related to competition. The company's CEO, John, is grappling with three specific issues:
- Anti-competitive practices: John suspects a competitor, 'Greenwood,' is engaging in anti-competitive practices, potentially harming Ferndale's market position.
- Conflicts of interest: John's close friend, a senior executive at a key supplier, has been lobbying for a favorable contract with Ferndale.
- Data privacy concerns: Ferndale is considering acquiring a competitor, but the acquisition may involve access to sensitive customer data, raising privacy concerns.
The case study focuses on John's ethical decision-making process and the potential consequences of his choices for both Ferndale and the wider industry.
3. Analysis of the Case Study
This case study can be analyzed through the lens of stakeholder theory, which emphasizes the need for businesses to consider the interests of all stakeholders, including customers, employees, investors, suppliers, and the wider community. The case study highlights the potential conflicts that can arise when prioritizing one stakeholder group over another.
Ethical leadership is paramount in navigating these challenges. John's commitment to ethical decision-making is crucial in ensuring that Ferndale operates within the boundaries of legal and ethical conduct. The case study also emphasizes the importance of transparency and whistleblowing mechanisms to address potential wrongdoing within the company.
4. Recommendations
To address the three problems, Ferndale should implement the following recommendations:
- Anti-competitive practices:
- Internal investigation: Conduct a thorough internal investigation to gather evidence of Greenwood's alleged anti-competitive practices. This should involve legal counsel and potentially external experts.
- Reporting to authorities: If the investigation reveals evidence of illegal activity, Ferndale should report the findings to the relevant regulatory authorities, such as the Competition and Markets Authority (CMA) in the UK or the Federal Trade Commission (FTC) in the US.
- Public statement: Ferndale should issue a public statement outlining its commitment to fair competition and its intention to pursue appropriate action against any anti-competitive practices.
- Conflicts of interest:
- Establish clear policies: Ferndale should have clear policies in place regarding conflicts of interest, including a robust process for identifying, managing, and disclosing potential conflicts.
- Independent review: The contract with the supplier should undergo independent review by a third-party expert to ensure fairness and transparency.
- Transparency and communication: John should disclose his friendship with the supplier executive to the board and other relevant stakeholders.
- Data privacy concerns:
- Data privacy audit: Conduct a thorough data privacy audit to assess the potential risks associated with acquiring the competitor's data.
- Develop a data protection plan: Create a comprehensive data protection plan that outlines how Ferndale will handle the acquired data, including measures for data security, access control, and compliance with relevant regulations like GDPR.
- Transparency and consent: Ferndale should be transparent with its customers about how their data will be used and obtain their consent for any data sharing or processing.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core competencies and consistency with mission: Ferndale's commitment to ethical business practices and fair competition aligns with its core values and mission. These recommendations support this commitment by promoting transparency, accountability, and compliance with relevant regulations.
- External customers and internal clients: The recommendations prioritize the interests of external customers by ensuring data privacy and fair competition. They also protect the interests of internal clients, such as employees, by promoting a culture of ethical decision-making and whistleblowing.
- Competitors: The recommendations aim to create a level playing field for all competitors by discouraging anti-competitive practices and promoting fair competition.
- Attractiveness - quantitative measures: While quantifying the benefits of ethical business practices can be challenging, the long-term benefits include:
- Enhanced reputation: Building a strong reputation for ethical conduct can attract customers, investors, and talent.
- Reduced legal risks: Proactive compliance with regulations can minimize the risk of legal penalties and reputational damage.
- Increased stakeholder trust: Transparency and ethical behavior foster trust among stakeholders, leading to stronger relationships.
6. Conclusion
By implementing these recommendations, Ferndale can demonstrate its commitment to ethical leadership, corporate responsibility, and fair competition. This approach will not only protect the company's interests but also contribute to a more ethical and sustainable business environment.
7. Discussion
Other alternatives not selected include:
- Ignoring the issues: This could lead to legal and reputational damage, potentially harming the company's long-term prospects.
- Taking a reactive approach: Waiting for problems to arise before taking action could lead to more significant consequences and damage to the company's reputation.
The key assumptions of these recommendations include:
- Ferndale's commitment to ethical conduct: The success of these recommendations relies on Ferndale's genuine commitment to ethical business practices.
- Availability of resources: Implementing these recommendations requires sufficient resources, including financial, human, and technological resources.
- Effective communication: Clear and transparent communication with stakeholders is essential to build trust and ensure understanding.
8. Next Steps
The following steps should be taken to implement the recommendations:
- Immediate action: Initiate the internal investigation into Greenwood's alleged anti-competitive practices.
- Within 3 months: Develop and implement a data protection plan for the potential acquisition.
- Within 6 months: Establish clear policies regarding conflicts of interest and implement a training program for employees.
- Ongoing: Continuously monitor and evaluate the effectiveness of the implemented policies and procedures.
By taking these steps, Ferndale can demonstrate its commitment to ethical business practices and contribute to a more competitive and fair marketplace.
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Case Description
In three mini-cases, readers see a range of disputes in competition law -- and apply legal principles to assure fair competition.
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