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Companies should follow moral principles when they conduct business, because their decisions can affect society, and they have responsibility to their customers, employees and stockholders. So operating in an ethical manner is essential to company success.
More and more enterprises are in a crisis of confidence, for example, Japanese cosmetics giant Kanebo announced on the 4th to recall the 54 kinds of whitening products, the dermatologist pointed out that because of the whitening ingredients “rhododendrol”,cause consumers’s skin white patches, so that the problem exposed. So far has been confirmed in 39 patients. The company president Natsuzaka Masumi apress conference in Tokyo on the same day, said an apology “for causing trouble for everyone and worry sincerely apologize. And as early as the moment recall is our duty.” The medical fee of 39 cases of leukoplakia patients will also get compensation.
The incident also caused loss and reputation effects to the group, surveys show that the Kanebo product sales fell into about two. But because Kanebo positive attitude, many consumers are still full of confidence in its products. I think, the keys to running an ethical company are accountability and information transparency.