Bad practices regarding the environment, unfair competition, offering low-quality products and displaying misleading advertising are some of the actions by which consumers can flee from your products.
examples of business ethics
examples of business ethics
- Nike
- Volkswagen
- Thomas
- Johnson & Johnson
- New Balance
1.Nike
One of Nike’s most famous commercials in the United States was one in which it urged people who discriminate against people of African descent to burn their sneakers. Since then, the brand has positioned itself against all types of racism and, when the well-known social movement #BlackLivesMatter arose, due to the death of civilian George Floyd, it rectified its support with this forceful video.
Nike Image
2.Volkswagen
The car company was faced with one of its biggest scandals when it had to confirm that it had installed software on its models manufactured between 2009 and 2015, so that they could pass environmental emissions controls. This caused 11 million dollars in losses and a 15% drop in the stock market. This is an example of how consumers react when a brand is not consistent with what it says and what it does.
Volkswagen image
- Thomas
Toms is an American brand that emerged as an inspiration for the footwear used by low-income Argentine communities. It was launched on the market with the “Once for once” initiative, which established that for every pair of shoes purchased, another pair would be donated to people in need. It was a case of successful social commitment; Currently its footwear is positioned in several countries.
Image of Toms
4.Facebook
Shortly before the pandemic broke out, Facebook faced a legal trial, in which it was accused of sharing personal data of 87 million users , with the now defunct political data analysis platform: Cambridge Analytica. For which he had to pay a million-dollar fine and Mark Zuckerberg promised to change his security policies to protect the data of his users.
BBC image
- Johnson & Johnson
The global company Johnson & Johnson signed a contract with the renewable energy company Texas Panhandle, through which it purchased 100 megawatts of wind electricity to help reduce pollution in the world. In addition, it assured that it will increase the use of this type of energy in the coming years, for the manufacturing of its multiple products, in favor of environmental sustainability.
Image from Johnson & Johnson
- New Balance
The sports brand had to pay $2.3 million to people who bought its “Truebalance” model, which promised to burn more calories than the average sports shoe by moving the body’s muscles in a special way. For failing to comply, New Balance was hit with a class-action lawsuit accusing it of providing false advertising about its products (which it did not emerge victorious from).
As you can see in this list there are examples of what a company with business ethics should do and what it should avoid. We hope that the information shared will help you direct your business towards practices focused on the well-being of all the people who interact with your brand and society in general.