Final answer:
External whistle blowing is a serious decision due to potential repercussions such as job loss and personal stress, but also because it can lead to improved corporate responsibility and public safety. Legal protections exist but may not always be effective.
Step-by-step explanation:
External whistle-blowing is a serious decision because it often comes with significant personal and professional risks for the whistleblower. This may include retaliation from the organization, such as being fired or blacklisted in the industry, and it can result in legal challenges as well. Laws like the Whistleblower Protection Act of 1989 and the Whistleblower Protection Enhancement Act of 2012 offer some safeguards against retaliation, but these protections are not always foolproof. Moreover, external whistle-blowing can lead to reputational damage, financial loss, and personal stress for the individual involved. It is a decision that can also have ethical implications for an organization, potentially harming its reputation or undermining its ability to carry out its mission.
However, it is crucial to note that while whistle-blowing might be perceived as detrimental to a firm's ethical culture or its ethics program, it can actually be an integral aspect of corporate responsibility. By exposing misconduct or dangers to public safety, like in the Firestone/Ford tire controversy, whistleblowers can prompt necessary change and improvement within an organization and even prevent harm to the public. Therefore, the act of whistle-blowing should not be taken lightly, and individuals considering such a step must carefully weigh the potential consequences against the benefits of exposing wrongdoing.