What is this text about? What is the main issue or problem raised in this text?
The authors of the chapter discuss the strategies, which can be adopted by managers who work at the frontier. In this context, the word frontier is used to describe the situation when the management does not know how a product can affect the life of the community. Moreover, under such circumstances, they do not understand how customers may use new products. So, these people have to deal with uncertainty.
How does the author address the problem?
The scholars address this situation by discussing a variety of precautions that managers should take in order to identify and manage possible risks. For instance, the developers should think about possible unintended uses of a product or the way in which it can harm different stakeholders.
What is the main conclusion of this text? What recommendations (if any) are offered?
On the whole, researchers conclude that the main task of managers is to concentrate on possible uncertainties and risks that are associated with the release of products. The main task is to identify new stakeholders who can be affected by these goods. This approach can help business administrators minimize possible risks.
What are the strengths (if any) of the argument(s) presented in this text? What are its weaknesses (if any)? Briefly state the reasons behind your evaluation.
The authors provide numerous example that can illustrate the arguments. Therefore, readers can see that the writers’ claims are related to various real-life situations that can affect the activities of managers. The only weakness of the argument is that the researchers do not discuss the legal responsibilities of companies in greater detail.
How has this text contributed to your understanding of business ethics? State up to the three most important things you have learnt after reading this text.
Overall, this text has enabled me to understand the challenges that managers can encounter when they introduce new products. First, this reading can help me identify those situations when more attention should be paid to the needs of stakeholders. Secondly, the recommendations provided by the scholars can assist me in developing a risk management strategy. Finally, the case illustrates that risk management and business ethics are closely intertwined with one another.