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business ethic

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rachel gu

on 7 May 2014

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Transcript of business ethic

Business Ethic
By Rachel Gu
Profit Maximization
an American company specialized in mass-market retailing
When you hear the word


what comes into your mind?
In economics, profit maximization is the short run or long run process by which a firm determines the price and output level that returns the greatest profit.
Once upon a time in China, the emperor of that dynasty enjoyed traveling around his country.

One day he arrived at a small temple at
the foot of the mountain overlooking a
vast river.
He saw hundreds of rowboats passing
by in front of him.

Admiring such a great scene,
he asked the oldest monk besides him,
“I only see Two,”
the old monk answered, “One is called
The other one is called
What the old monk implied
was totally true!!!!!
Everywhere people are
in the busy pursuit of
fame and wealth.
The same goes for
the business.
According to a new analysis posted by PayScale,
a salary information website:
The Walmart CEO gets paid
1,034 times
more than the median Walmart worker.
Half of Walmart workers made less than $22,400 in 2012, which is
poverty level for a family of four.
Walmart also tries to reach the maximize profit by removing employee's benefits.
"How many boats are there in the river?"
It it understandable that a company's ultimate goal is to increase profits.
While some companies go to the extreme and maximize profits unethically by slashing employee expenses, lowering product quality or impacting the environment negatively.

wonderful drug
Thalidomide is an anti-nausea and sedative drug that was introduced in the late 1950s to help pregnant women with the effects of morning sickness.
In the late 1950s and early 1960s, more than 10,000 children in 46 countries were born with deformities such as
as a consequence of thalidomide use. Only 50% of the 10,000 survived.
Thalidomide became effectively linked to death or severe disabilities among babies.
Other effects included: deformed eyes, hearts, alimentary, and urinary tracts, and blindness and deafness.
The sales department called it “
the apple of our eye
” because it was so
German company Chemie Grünenthal
Grünenthal (now GmbH) was a small private company set up after World War II as an offshoot of an old family firm that made soaps and detergents.
Thalidomide was introduced in 1957 as a "wonderful drug" that "free of the unpleasant side effects".
Public Trust
Profit Maximization and reputation
are the two principles that drive business
to success, but neither of them is ethical
in nature.
Ethical behavior is seen as an essential part of the company's success

The way we run the business is like the way we live our lives.

We want success and we have found so many ways to success.
The key is to understand that there has to be a moral bottom line whenever we make any decision.
Even though success sometimes depends on luck and opportunity,
if we face them with the right attitude, we can always have the right choice and do the right thing.
- A form of applied ethics that examines ethical principles and moral problems that arise in a business environment.
- Provides guidelines for right and truthful behavior in
specific situation.
911 Tape from the crash that killed CHP officer and his family in San Deigo
The accident on the CHP brought
people's attention on Toyota's accelera
n system.

But the later investigation came out
Toyota actually
known the problem for two years.

Instead of recalling 3.8 million cars, they chose to hide
the facts, and not to fix the problem.
Full transcript