Business ethics and Social responsibility This topic is important to me because it refers to the wellbeing of the society we are living in and also to the business world. Business ethics teach us how we should behave in a business environment according to the ethics. According to me the code of ethics teaches us to be much more responsible than what we are now, different code of ethics leads us to different ways, but the main aim is to be polite, honest and respecting each other. The companies like apple are contributing a lot to the society by proving their social responsibility.
Apple has reduced the use of harmful hazardous toxic drastically. it is the most socially responsible company in its sector. It provides better equipment’s with improved quality and also taking care of the environment. It not only has recycling plants in almost 90% of the countries where their products are sold but also it has reduced the use of toxic substances from its product on an average to 43. 6%. Example:The Mac mini 2011 has 52% less toxic substance then that when the product was first created in 2007.
It has also reduced the size of packing of the iphone 4 by 42% which allows them to ship more goods then earlier which has reduced the transportation cost and depletion of carbon dioxide from the ships and planes. By going green apple has strengthened its brand image and by making people buy more of their products as it helps in protecting the environment, which is the ultimate goal of every socially responsible company. Apple was the first to audit the facility for supplier responsibility, which proves their business ethics is in the right direction.
On the other hand Wal-Mart the biggest retail chain is completely irresponsible as it pays less to the employees for the hard work and also by not carrying about the environment at all. Wal-Mart is slashing the prices of the whole sellers by violated means and which leave them without profit by the end of the transaction. Example: Wal-Mart became the first company to be fined for violating new standards for storm water runoff in 2001, and had to pay $5. 5 million. In 2004, the company faced fines for violations in 9 states.
That same year, it agreed to pay $400,000 to the government to settle claims that Sam’s Club had violated air pollution regulations in 11 states. By being irresponsible Wal-Mart is ruining its brand image and making people hate them because of their behaviour towards the society and also because they do not have basic business ethics which could lead a fall in their market holdings. References 1) http://business-ethics. com/2010/02/25/1938-apple-increases-its-monitoring-of-suppliers/ 2) http://eco-chick. com/2009/05/3845/profits-before-peo 3) http://www. apple. com/environment/