Business Ethic Final Paper - 1697 Words

A major car company by the name of Toyota was recently experiencing mechanical issues with some of their vehicles and there have been major fatalities cause by it. Toyota is trying to recall the models that are causing the problems, however, there are too many to recall and it will cost millions of dollars to fix the problem. Having a successful company requires that you practice and have good business ethics also. Toyota business ethics have come into question over its lack of concern for the safety of the consumer and for its desire to make as much money as possible, therefore Toyota had a major recall after owners of Toyota vehicles raised issue about the safety of Toyota’s vehicles. Business Ethics is very important subject to†¦show more content†¦When turning away from a quality to a profit focus only created far more problems. â€Å"Toyota, once the world’s most profitable automaker, suffered its first losses in its past two fiscal years; the turning away from a quality to a profit focus only created far more problems.† (O’Brien, 2010) Toyota is doing the right thing by stopping production on an unsafe product, while they try to figure what went wrong with the gas pedals and how to fix them. The plant will shut down one of its two assembly lines as Toyota explores what is causing gas pedals to potentially stick. The 2,500 or so affected employees will continue to work during the down time. They will be offered the opportunity to do training exercises or discuss ways they can improve their processes, the kaizen concept for which Toyota is famed. In order for business ethics to work, the top executives and presidents of the company need to take a closer look at what the company stands for, such as Toyota. The President of Toyota stated that the company was going back to the founder’s philosophy of building a quality product and not for what profit could be earned by cutting corners and producing an inferior product. †Moral standards deal with matters that we think can seriously injure or seriously bene fit human beings.† (Velasquez, 2001) This is a big step towards instilling trust from the consumers back into a stumblingShow MoreRelatedBus 311 Business Law Entire Course Material1611 Words   |  7 PagesBUS 311 Business Law Entire Course Material Follow the link below to purchase http://www.homeworkarena.com/bus-311-business-law-entire-course-material    Visit Website: http://www.homeworkarena.com/ Please contact us for more Tutorial amp; Help (climaxbegin@gmail.com) BUS 311 Week 1 DQ 1 Applying the Law to a Set of Facts    Applying the Law to a Set of Facts.  Read the Hypothetical Case Problem #1 at the end of Chapter 1 and respond to these questions 1. 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