Toyota invested $7 billion on R&D of ‘green’ cars shown on Frankfort model show.The entire line-up of 12 Toyota models is with hybrid engines. The increased customer awareness that technology of hybrid cars is getting better leads to huge opportunities of growth in hybrid engine vehicle industry. Therefore, the competition level in the industry is increasing. However, in my perspective, Toyota still needs efforts to raise its market share. For example, there should be a strong marketing department. The reputation of this business was negatively affected by the recall of cars due to quality control problems in the past few years, so the market group should improve its reputation. Also, it should convince consumers to purchase electric cars rather than fuel engine cars by eradicating consumer concerns about technology bugs of electric cars. Toyota believes that with the increasing consumption of electric cars, the infrastructure like sites of car-recharge will automatically developed because of consumer demand. I think Toyota can finance some recharging sites for energy businesses and provide a discount for owners of Toyota. Additionally, Toyota sets a competitive price so that the cars are affordable to most consumers. Consequently, Toyota is aiming to be the market leader of the huge potential market.

Resources: http://www.bbc.co.uk/news/business-24033705

Although the main purpose of a business is profit maximization, taking social responsibilities is essential because it is strongly connected to business reputation, which is the major concern of public relation department of a business. Sometimes business ethics can be combined with promotion strategy, and here comes the example of Starbucks, one of the world’s largest coffee producers. Starbucks takes the concept of ‘environmentally friendly’ by using recyclable cups and offering health insurance to its baristas. These actions can not only win positive reputation for a business but also improve the motivation of employees( by providing health insurance). Therefore Starbucks can get increased consumer loyalty. Additionally, Starbucks admired one of the 100 Best Companies to Work for. The environmentally friendly reputation also helps itself expanding to a multinational company over the past 10 years.

In conclusion, a business should maximize profit while ensure that it takes responsibilities of its stakeholders because business ethics is beneficial to both the business itself and stakeholders( in the case of Starbucks, the general public and its employees).