The message must be made clear to Foxconn that if it engages in unethical behaviour, the customers will find alternative manufacturers. This will force Foxconn to be ethical and stop the abuse of its workers. While this makes Foxconn ethical only for the sake of ensuring profits, it is at least a long term fix to the problem and keeps it from being unethical due to pressure from external parties. D.
Branding is more than a name, term, design and symbol. A brand is created and influenced by people, perception, words, messages, visuals, culture, style, opinions, news media and especially social media. Earning and maintaining a good reputation is challenges for new and established businesses. When bad publicity emerges, businesses could be portrayed as irresponsible, dishonest or appear to be only looking out for their best interests. Although it is possible to make a good name for your business on a local or national scale, doing so can be an uphill battle, especially in the face of bad publicity.
The Securities Acts and laws are in place to protect society from corrupt business practices, such as these acts committed by Sky Capital and the defendants. The defendants may have been in denial of the fraud and deceptive business practices they were using, but their impact was felt by many who had trusted them. Bad things happen when trust is met with ethical blind spots in managers high and low in company management. Each defendant found the monetary gain of their deceit and fraud more important than their professional responsibility to their customers and therefore created an ethical blind spot in management. In addition, as a group effort, the defendants not only participated with the fraud, but encouraged the continuation of the malpractice going on.
On here and now see, Ethical practices can hamper benefit of business yet it is trusted that ethic practices are productive for each business on long haul. To comprehend the significance of ethic practices, we should take cases of Enron, Satyam and Lehman Brothers, Infosys, Berkshire Hathaway and Google. Enron, Satyam and Lehman Brothers are a few cases of business bunches who bomb
The research and development part is very important in every firm’s activities or businesses. It is because, from that it will helps them to improve their businesses and gained many profits from that. In a firm or company, research and development is something that is a must as they can create new thing like products, services and so on. Those thing need to be research well before it can be developed. It is because error might occurred if the firms or companies directly build the new develop products before making the research first.
Added to this is the strong need to control the chains of supply, to have an adequate distribution of merchandise, to diversify their products and consolidate their brands. the concentration of companies can be beneficial for business productivity, but it can also hurt the total welfare if the operation reinforces market power, damaging the free competition and increasing the prices of products without increasing their quality. He monopoly power induces inefficiency and waste, and some degree of rivalry to maintain a good pace of innovation in the industry. The mergers horizontal are a priori the most damaging to market competition, although the
This availability of multiple brands and many models increases the choice available to the consumer but also makes the decision process more complex. Brands also have a symbolic value which helps the people to choose the best product according to their need and satisfaction. Usually people do not buy certain brands just for design and requirement, but also in an attempt to enhance their self-esteem in the society. Brands play a very important role in the consumer decision making processes. It is really important for companies to find out customer’s decision making process and identify the conditions, which customers apply while making decision (Cravens and piercy, 2003).
Knowing about the customers, companies are able to better serve the needs of their customers. And at the same time, even the customers are privileged by getting a more satisfactory product. However, this research can be vastly misused as well that can harm the consumer’s interests. In fact, many companies follow deceptive and unethical practices in their research methods to increase their market share and profit as a whole. These practices can be anything from not telling the customers that their information is being recorded to selling unnecessary research.
To develop trust that must be ethical so trust will be used as the indicator variable of ethics. So when the company does not apply the ethical behaviors that will lead to unethical practices in organization as well as in personal life. Sometimes some people wonder why some well-educated manager, well positioned act unethically? This is because of leaks of ethics in their
Nowadays, ethical behaviour and profitability do not seem to be contradictory anymore. Moreover, organizations need ethical values to survive and make money in the long run, since stakeholders would respond to companies’ wrongdoing. That is why, it is important to manage ethical behaviour. Managing ethical behaviour can be quite a challenge though due to the unaccountability of impact of ethical actions. However, it is a good idea to