Business ethics, as defined, is “the stu…

Business ethics, as defined, is “the study of ethical dilemmas, values, and decision-making in the world of commerce” (MacDonald). Since heard lots of critique of companies regarding business ethnics, Toyota Motor Corp. is supposed to be a good example. According to The Globe and Mail, Toyota Motor Corp. recently have recalled about 200,000 hybrid SUVs all over the world because of a glitch in the inverter and 169,000 vehicles due to the problem of engine (2013). It is true that Toyota Motor Corp. did make some mistakes but the positive is their admitting faults and solving the problems. Just like Milton Friedman mentioned in the article “The Social Responsibility of Business is to Increase Profits” that the only “social responsibility of business” is to enhance their interests by using resources and participating while following certain regulations but no cheating at all (1970). Personally, Toyota Motor Corp. is exactly behaving the same. It is impossible for a company to perfectly do everything; however, the possibility of fixing the problems always exists. Some companies would cover up the truth rather than be responsible for their faults. Anyway, taking business ethics seriously should first objectively faces the faults and then regards social interests as standard to increase their own profits.

 

References

Friedman, Milton. (1970, Sept 13). The Social Responsibility of Business is to Increase Profits. The New York Times. Retrieved from http://site.ebrary.com/lib/ubc/docDetail.action?docID=10187339&page=171

MacDonald, Chris. The Business Ethics Blog. Retrieved from http://www.businessethicsblog.com/

Toyota recalls 369,000 vehicles worldwide. The Globe and Mail. Retrieved from http://www.theglobeandmail.com/globe-drive/new-cars/auto-news/toyota-recalls-369000-vehicles-worldwide/article14103896/

 

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