Business Ethics

Standard

 

In 2008, Sanlu Group, a chinese milk company, involves a food safety incident. The milk adulterated with melamine causes over thousand infants being hospitalized. Some companies, like Sanlu Group, pursue gaining their own profits by producing products that could damage people’s health or even life. This behaviour offends against  business ethic.The corporate reputation declines sharply by the ethical scandal, and more and more people begin to pay close attention to business ethics. When a company violates business ethical standards, it loses its consumers as well. No matter how reputable the company was, the scandal of the ethical violation is powerful to destroy the company.

All firms value highly about loyalty of costumers, so they provide good services and products with high quality to raise their costumers’ loyalty. A strong ethical foundation is considered to be a competitive advantage. An ethical company attracts more consumers, and keep them loyal. Todays, companies are aware of how important the business ethic is, so they build up high ethical standard. For instance, Starbucks shows its social responsibility to the health of environment. Starbucks uses recycled paper for the coffee cups, and installs the water filtration system. People respect this kind of ethical company, and are willing to purchase from them.

All companies should be clear about what is the right things to do, and strong ethics is helpful to build up a successful company.