Comm101 Blog#1 – Ethics
Credit Card Frauds
There is only one goal for all companies alike: profit. For achieving these goals, morals and ethics are thrown to the back of the playing book. However exaggerated the example of business frauds are in this article, it can quite correctly display the ambitious goals of many companies who try to find loopholes or dress up their products.
A fraud company, Central Coast Nutraceuticals has used fake credibility to sell their products – a berry supplement and a colon cleanser – such as Oprah Winfrey. They trick their customers into thinking that they are receiving free products, but without their consent, they are automatically signed up for a month of delivery with these fees added onto their credit cards. A profit of $100 million has been collected through these methods.
This links to the case of Ryanair studied in class. Although Ryanair does not directly use illegal ways of maximizing their profits, but they do indeed enforce “deceptive marketing practices”. This airline company is well known for their cheap tickets which pay only for the most basic necessity of the flight, a seat. If a traveler wants an upgrade, food, or even a boarding pass, they must pay for it. Ryanair does not implicitly inform passengers of the extra costs, similar to how a fraud company may not tell you that you are automatically signed up to pay for a month of products.
http://www.cbc.ca/money/story/2010/09/15/con-card-fraud.html