Eco 550 Week 5 Dq

In: Business and Management

Submitted By HollyCooper
Words 783
Pages 4
Imagine you are a manager of a chemical company. An accident has occurred in which chemicals leaked into the ground water nearby, the community is unaware. Assess the costs involved in cleaning up the water immediately (confessing) versus hiding the fact and possibly paying more in the future. Discuss the impact on profitability in both situations.

The costs incurred for an accidental chemical leak are going to associated with whatever agency that needs to be hired to clean up the mess along with the costs of having the contaminated area inspected after clean up. The cost of the leaked chemicals themselves should be considered. Other costs would include the public relations campaign – including the agency hired to handle this along with the choice of media to get the awareness out to the masses. How the company handles this accident is going to affect their profitability. The textbook states “brand names are capital assets that provide future net cash flows from repeat-purchase customers as long as the brand reputation holds up. To defraud customers by delivering less quality than the brand reputation promised would destroy the capitalized market value of the brand name (McGuigan, Moyer, & Harris, 2008, p.373).” The cost to the company’s bottom line if they are not going to make the public aware will have an impact both in the short-run and long-run. The short-term is going to see the upfront costs of clean up and regulatory agency fees. Eventually, the public will probably find out about this mishap and that will have a long-run impact on profitability. It will damage the company’s reputation. Consumers want to be made aware and ultimately trying to hide a dangerous mistake, like a chemical leak, will cost them because consumers will go elsewhere.
From the first e-Activity, assess the factors involved in conducting a break-even analysis. Determine the…...

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