Business Ethic Final Paper
A major car company by the name of Toyota was recently experiencing mechanical issues with some of their vehicles and there have been major fatalities cause by it. Toyota is trying to recall the models that are causing the problems, however, there are too many to recall and it will cost millions of dollars to fix the problem. Having a successful company requires that you practice and have good business ethics also. Toyota business ethics have come into question over its lack of concern for the safety of the consumer and for its desire to make as much money as possible, therefore Toyota had a major recall after owners of Toyota vehicles raised issue about the safety of Toyota’s vehicles.
Business Ethics is very important subject to a work place and it demands that a company examines its behavior towards the outside world. “The field of business ethics deals with questions about whether specific business practices are acceptable.” (Ferrell, Fraedrich, Ferrell, 2011) Employees and managers must have moral concerns into their decision-making process. Ethical concepts are important to resolving moral problems confronting business. At a work place there are policies, codes of ethics, code of conduct, organizational values, and company cultures, lapse in workplace ethics occur every day. “Ethics is the principles of conduct governing an individual or a group. It is the study of morality.” (Velasquez, 2001) In the work place ethics results either from expense account fraud, involvement in conflict of interest, and sexual harassment. It is very important also, to have an ethical behavior so; there won’t be any issues with other workers.
The Toyota brand name, one of the most well known brands with top quality, has taken a heavy hit. Toyota is having problems with sales and production of eight of its top selling cars and recalled more than 9 million cars worldwide, in two separate recalls. Some of the most recent recalls were 2000-2004 Avalon,
Business Ethics is very important subject to a work place and it demands that a company examines its behavior towards the outside world. “The field of business ethics deals with questions about whether specific business practices are acceptable.” (Ferrell, Fraedrich, Ferrell, 2011) Employees and managers must have moral concerns into their decision-making process. Ethical concepts are important to resolving moral problems confronting business. At a work place there are policies, codes of ethics, code of conduct, organizational values, and company cultures, lapse in workplace ethics occur every day. “Ethics is the principles of conduct governing an individual or a group. It is the study of morality.” (Velasquez, 2001) In the work place ethics results either from expense account fraud, involvement in conflict of interest, and sexual harassment. It is very important also, to have an ethical behavior so; there won’t be any issues with other workers.
The Toyota brand name, one of the most well known brands with top quality, has taken a heavy hit. Toyota is having problems with sales and production of eight of its top selling cars and recalled more than 9 million cars worldwide, in two separate recalls. Some of the most recent recalls were 2000-2004 Avalon,
References: Ferrell, O., Fraedrich, J., & Ferrell, L. (2011). Business Ethics Ethical Decision Making and Cases (8th ed.). Author. (Original work published 2008) O’Brien, G. (2010, March 4). The Week in Ethics: Toyota and the Ethics of Greed. Retrieved from http://theweekinethics.wordpress.com/2010/03/04/the-week-in-ethics-toyota-and-the-ethics-of-greed/ The Associated Press. (2010, April 22). Attorneys: More evidence Koua Fong Lee tried to stop Toyota. Retrieved from http://www.kare11.com/news/news_article.aspx?storyid=848573 VELASQUEZ, M. G. (2001). Business Ethics Concepts & Cases. Author.