Ethical Problems with the Usage of Non-Oem Replacement Parts in Collision Repair.

Topic: Problems with the Usage of Non-OEM Replacement Parts in crash Repair. Team Members(s): Steven Church, Ivan Salas-Orono, Nicholas Sergon, Dmitriy Gulik Name Steven Church Ivan Salas-Orono Nicholas Sergon Dmitriy Gulik Class sophomore(prenominal) soph Sophomore Sophomore Major Finance history chronicle Accounting Faculty Advisor(s): Au betraynces Business Identity: gore of Directors, GEICO Executive Summary In response to changing cunning practices, ethical solicitudes, financial questions, and billion dollar lawsuits, GEICO has contracted Macklin Consulting Inc. to die and make recommendations for improvements to its authentic policy regarding the use of Non-OEM (aftermarket) parts. After calculate research and analysis of the data, we have found that GEICOs associate regarding its Non-OEM policy is warranted. In addition to breaching GEICOs operating principles, the contemporary Non-OEM policy is lowering GEICOs customer retention rate, exposing the federa tion to potential legal and financial liability, and damaging its reputation. GEICO has committed itself to, running(a) with uncompromising integrity.

Due to the questions regarding the quality of Non-OEM parts and the fact that policyholders ar generally unaware of the current non-disclosure policy, GEICO is not living up to its self-prescribed operating principles. That failure of ethics may be exist the company a considerable number of policyholders. Last year, 1.5 gazillion raft left GEICO for other insurers. That loss of customers has had detrimental cause on GEICOs retention rate and reputation. The previ ous hug dose has been host to numerous and! extraordinarily costly lawsuits as well. The damages sought and won in those lawsuits range from tens of millions to billions of dollars. In practise to rise above the tide of litigation and ensuing authorities regulation, GEICO must adopt a practice that protects its financial future, satisfies its consignment to itself and its policyholders, and provides a...If you want to get a full essay, order it on our website: BestEssayCheap.com

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