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Behaving ethically can lead to higher profits for a company - Essay Example

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That is evident from the fact that most companies that uphold business ethics have the highest returns and profitability. Ethical businesses respond to customers’ demands and…
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Behaving ethically can lead to higher profits for a company
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"Behaving ethically can lead to higher profits for a company"

Download file to see previous pages Companies have different programs to expand their brand popularity. Joyner highlights an example of Toms, a renowned shoe company, as among the businesses that embrace ethics in their operations (1). According to Joyner, business that embrace social responsibility have started to favor the “buy one, give one” strategy. For every pair sold by Toms, it gives a pair. The company donates the pair to children in developing regions such as Malawi, Haiti, or Peru. By 2014, Toms had donated nearly ten million pairs of shoes and currently experiences massive sale volumes for its shoe brands. Remarkably, donations have served to expand Toms’ shoe brand dominance in the market because customers buy with the urge to help the needy. Besides having high quality shoe brands, Toms’ selling strategy has contributed to its market expansion. Particularly, it enjoys high sales among the youths. It sells brands that are highly appealing to teenagers. That justifies its strong brand and high sales.
Among the vital responsibilities of every business that embraces ethical operations is to ensure employees receive decent salaries and work in safe conditions. Employees are critical to business’ success and should be subject to safe working conditions. An example of unethical business is the case of Rana plaza that collapsed in Bangladesh, resulting in the death of 1137 people. By 2014, April 24 nearly 250 people were mission since the incidence that occurred on April 24, 2013, a year on (Institute for Global Labor and Human Rights, 2014). The Rana Plaza factory collapse accident has been termed a fatal and deadliest disaster. The case represents poor working conditions in which employees are exposed to eminent danger. Furthermore, the employees lack proper insurance cover. That represents unethical business operations. According to the report by the Institute for Global Labor and Human Rights (1), ...Download file to see next pagesRead More
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