Ethics Case Study Essay Example
MM2021 TUT005
Ethics Case Study Essay
Lam Sai Wah 09366988D
What do you think of Nau's approach to doing business?
Is it ethical and social responsible?
Nau's doing its business in a special way, their products are supervised by an independent, non-profit auditing and research firm, so be guarantee that all their products designed are in standards, hence customer can buy a qualified and reliable products from it. Also their size of store is smaller than standard store, instead of it, a online store was introduce, customers can view and purchase products through online store, which aim to reduce the use of man power and electricity of store. Finally, five percent of their income will be donated to charitable organizations.
At the time before, the only requirement of a company to be social responsible is to maximize company's profit. Obviously, Nau is not social responsible as it donate part of the income to the charitable organizations. But nowadays, the meaning of social responsible is no longer only to maximize company's profit, company also need to concern about their image, which include environmental friendly, employee friendly, customer friendly, ethically. To achieve a all rounded social responsible, company had to made a good between public image and making profit.
Put products being supervised, from both customers and the company's perspective, is a both ethical and social responsible approach. All products that passed a supervise standard is a ethical guarantee that this company will not sell poor products to customers. Nau did need to spend cost on push its products to reach a stand to pass the supervise, so the profit will not be maximize for short term, but once a "quality and reliable" image of products had been build, customers could choose Nau's product as its good image when compare with other brands, it also affect other products of Nau so profits may gain by doing this and it will be social responsible to company.
Holding a
Ethics Case Study Essay
Lam Sai Wah 09366988D
What do you think of Nau's approach to doing business?
Is it ethical and social responsible?
Nau's doing its business in a special way, their products are supervised by an independent, non-profit auditing and research firm, so be guarantee that all their products designed are in standards, hence customer can buy a qualified and reliable products from it. Also their size of store is smaller than standard store, instead of it, a online store was introduce, customers can view and purchase products through online store, which aim to reduce the use of man power and electricity of store. Finally, five percent of their income will be donated to charitable organizations.
At the time before, the only requirement of a company to be social responsible is to maximize company's profit. Obviously, Nau is not social responsible as it donate part of the income to the charitable organizations. But nowadays, the meaning of social responsible is no longer only to maximize company's profit, company also need to concern about their image, which include environmental friendly, employee friendly, customer friendly, ethically. To achieve a all rounded social responsible, company had to made a good between public image and making profit.
Put products being supervised, from both customers and the company's perspective, is a both ethical and social responsible approach. All products that passed a supervise standard is a ethical guarantee that this company will not sell poor products to customers. Nau did need to spend cost on push its products to reach a stand to pass the supervise, so the profit will not be maximize for short term, but once a "quality and reliable" image of products had been build, customers could choose Nau's product as its good image when compare with other brands, it also affect other products of Nau so profits may gain by doing this and it will be social responsible to company.
Holding a