Toyota
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Toyota’s Ethics Choice: Promote Self-Interest
Ali Adili
Florida Atlantic University
Dr. Richey
Global Environment of Management
MAN 6937
November 24, 2010
Introduction
This paper discusses the decisions Toyota has made involving the issue of ethics. The purpose of this paper is to discover the position Toyota has taken in response to ethical issues and the avenues Toyota will take to promote the company’s self-interest. Topics that will be discussed in this paper are (1) effects of overlooking ethics and (2) bad ethics makes Toyota think backward.
Effects of Overlooking Ethics
Business ethics should be given a good deal of consideration in any industry, especially the automotive industry Toyota participates in. Companies such as Toyota should pay attention to ethical issues since most business industries are associated with customer service; a slight deviation from practicing good ethics not only can result in legal consequences, but also can result in a loss of a company’s reputation as well. Furthermore, a company with a solid understanding of good/bad ethics is better prepared than its competitors to deal with situations that do not have a straightforward solution.
Although surveys of American consumers generally indicate Toyota is an ethical and thus reputable company, a closer inspection conducted on the company suggests the contrary viewpoint. About a decade ago, Toyota owned a financial services group known as Toyo Trust and Banking (Ejaz). The financial services group merged to form UFJ, also known as United Financial of Japan (Ejaz). The problem with UFJ was that the financial services group was accused of engaging in corruption by the Japanese government when efforts by a government agency to inspect the institution were impeded (Ejaz). One does not have to an expert in business affairs to recognize an allegation of corruption occurring internally...
Ali Adili
Florida Atlantic University
Dr. Richey
Global Environment of Management
MAN 6937
November 24, 2010
Introduction
This paper discusses the decisions Toyota has made involving the issue of ethics. The purpose of this paper is to discover the position Toyota has taken in response to ethical issues and the avenues Toyota will take to promote the company’s self-interest. Topics that will be discussed in this paper are (1) effects of overlooking ethics and (2) bad ethics makes Toyota think backward.
Effects of Overlooking Ethics
Business ethics should be given a good deal of consideration in any industry, especially the automotive industry Toyota participates in. Companies such as Toyota should pay attention to ethical issues since most business industries are associated with customer service; a slight deviation from practicing good ethics not only can result in legal consequences, but also can result in a loss of a company’s reputation as well. Furthermore, a company with a solid understanding of good/bad ethics is better prepared than its competitors to deal with situations that do not have a straightforward solution.
Although surveys of American consumers generally indicate Toyota is an ethical and thus reputable company, a closer inspection conducted on the company suggests the contrary viewpoint. About a decade ago, Toyota owned a financial services group known as Toyo Trust and Banking (Ejaz). The financial services group merged to form UFJ, also known as United Financial of Japan (Ejaz). The problem with UFJ was that the financial services group was accused of engaging in corruption by the Japanese government when efforts by a government agency to inspect the institution were impeded (Ejaz). One does not have to an expert in business affairs to recognize an allegation of corruption occurring internally...