Business ethics are that functions which leads to choosing right decision at the right time which leads for the welfare of not only business owners but also society, consumers, stakeholders and its employees. Business ethics is considered important that companies are following them.
The triple bottom line effect is one of the considerations for the businesses to thrive. I strongly believed that it's a domino effect regarding the consequences on every action of the company. If the company take care of its employees, it promotes loyalty and in return they will take care the customers and the company as well. Taking care of the employees is not just simply giving them good salary, this also involves taking into consideration their family, the society they lived in and allowing them to be more involved in the company.
On our fifth session we discussed the case of Ford Pinto.
During that time, Ford wanted to create a model that weighed less than 2,000 pounds and that would be priced at less than $2,000, which lead to the creation of Ford Pinto. However, the design for Ford Pinto had a "Fuel Tank Controversy". Ford Pinto's structural design allowed its fuel tank filler neck to break off and the fuel tank to be punctured in a rear-end collision, resulting in deadly fires from spilled fuel. The Ford Pinto was involved in law suits due its design flaws that caused a lot of deaths, injuries and vehicle burnouts.
Below are my Alternative Course of Action (ACA) for the Ford Pinto case:
✔️ Total product recall and redesign Ford Pinto fuel tanks
✔️ Total product recall and stop production of Ford Pinto instead maintain production of big cars wherein they were known for
✔️ Total product recall and partner with Japanese to produce smaller car which would be safer for the public
Whichever ACA would be chosen the company should always remember the triple bottom line effect. Consumers now a days are wiser that they would patronize you even more if your business is also taking into consideration Mother Nature not just the profit you can get.
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