Submitted By ekam12
Companies need to operate in accordance with sound moral principles based on fairness, justice and trust. How did such principles help Johnson to cope with complex problems? How did the company’s credo influence its actions in the times of crises? Give your reasons.
It is very important for every company to be socially responsible and operate in accordance with sound moral principles based on ideals such as fairness, justice and trust. Clients can often regard unethical marketing activities as unacceptable and often refuse to do business with those who engage in such practices. Good ethical decisions foster mutual trust between the organization and its clients and build good relationships. Being ethical can be a clever marketing strategy. More and more consumers are influenced by “non-commercial” factors, such as whether a product harms the environment and so on. Nowadays consumers have the wide choice because of tough competition on the market. That’s why they take into consideration some other things like credo of a company.
It might be brightly illustrated by the company Johnson&Johnson, as they always stick to their credo. J&J is a household name in baby-care as well as medical products. The company enjoys a reputation for high-quality products and business integrity and their credo is to put their consumers ahead. However, in 1982 crises happened with Johnson & Johnson. Seven people died after taking Tylenol, a pain-killer, which turned out to be poisoned with cyanide. That time the company faced ethical dilemma: if the company recall all the bottles of Tylenol, it will suffer great losses, but if the company let it pass, this will mean that deaths of people may continue. The answer came from a company`s credo: they placed a higher priority on the consumers. Firstly, the management of the company…...