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Adm Price Fixing: The Way It Works And The Effects It Can Have. A Comparison Of Two Companies In Which Price Fixing Was A Factor

897 words - 4 pages

David GlennFinal TestADM Price FixingApril 6, 2002When two or more companies the produce and sell the same products, join together in order to control the price of their products, price fixing has then occurred. Archer Daniels Midland (ADM) is a company involved in the procuring, transporting, storing, processing, and merchandising agricultural commodities and products. The FBI conducted an investigation accusing them of fixing prices with its two Japanese competitors Kyowa Hakko and Ajinomoto, to control the price of lysine. Lysine is an amino acid used to stimulate animal muscle growth and a component of feed for hogs, poultry, and fish. If a company fixes prices, an ethical problem is ...view middle of the document...

To not operate the way they wanted him to could directly affect his future within the company (bonuses, promotions, continued employment).Whitacre following the price fixing plan resulted in his being promoted to the Asian markets development manager, with the notion that continued success may result in becoming the next company president. However, upon feeling that the Japanese might be sabotaging the production of ADM lysine problems began to arise. At this point the chairman called in the FBI to investigate any possible wrongdoing. When the FBI approached Whitacre, he eventually admitted to the price fixing and then became a mole for further surveillance.ADM had no code of ethics, no ethics officer, and no committee to perform duties necessary to determine if the company's affairs were ethical. The only communication distributed from top management was to inform the employees how business was to be done at ADM. This message was to work with the competitors to fix the prices to provide a better return for the company. At the time of this case, ADM simply denied all allegations and placed the blame on Whitacre for being a thief and violator of company internal information. No plans for improvement in the area of ethics were discussed, and no attempts to submit to an ethics evaluation program were mentioned (internal or outside evaluation).ADM operates on an international basis that views "us", as them and their competitors, and "them", as the customers. The primary cultural difference...

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