Report On Ethical Issue

Ethics are moral principles that govern a person's or group's behavior. Should a company spend extra money on ethical behavior; deciding between right and wrong decisions as it is important from the human aspect? There have been cases where a company doesn’t break a law but is still morally wrong according to others. The best example is one of the top car making company, Toyota and their safety standards.
One of the most important aspects of being a car making company is safety concerns for both the consumers and employees; and how issues are handled should a safety concern arise. A couple of years back Toyota made a huge and unethical decision in 2010 when they broke their promise as a company by ignoring safety concerns due to cost cutting. To add to their mistake and to cover the recall investigations; they tried their level best to delay the whole chaos. In 2010, Toyota had to recall over eight million cars due to safety concerns regarding faulty brakes and sticking pedals in 2009.
A car manufacturing company is fully responsible for providing the citizens of an economy with a safe vehicle; it should deliver in accordance to their promise.
Overall, Toyota ignored the safety concerns just to save money; it lead to loss of more valuable lives in the end. Ethical norms are very important to run any business; one has to be concerned about the consumers. What is the point of giving a cheap product if it is going to cost the buyer later? It is better make a prefect and safe product, charge more and never worry about cost or ethical issues.