All business comes down to is one end game; profit, responsibility, ownership. The way many businesses get to this main goal is abiding by the rules and regulations set for them, but some choose to use deception and or perform fraudulent activities. For example one of the largest banks in the United States were caught selling more than one of the same products to customers. This bank was Wells Fargo. The Ethics of this particular company was for personal gain of profits and not how it affected the people they were doing these actions to. Like stated in “The Social Responsibility of business is to increase profit” it states that business men are short sighted and see clearly into their own business but not what is going on around them. The business men of Wells Fargo illustrated this perfectly by believing in their moral that money came first and they could step on people who seemed to be unaware came back to haunt them. In return the company had to pay the Consumer Financial Protection Bureau $100 million of the total penalties – the largest fine ever levied by the federal agency. The companies who choose to abide by tinted ethics and take short cuts in reaching the end goal of profit by leaving behind responsibility and ownership fail to stay within the rules of the game.
September 2016
Hello world!
Welcome to UBC Blogs. This is your first post. Edit or delete it, then start blogging!