1) Explain the condition of uneasiness and indifference and how it defines our current period.
C. Wright Mills declares that uneasiness arises when people are unaware of any cherished values, but still sense a threat. The experience of indifference occurs when people are neither aware of any cherished values nor experience any threat. This indifference can turn to apathy, if it encompasses all of a persons’ values. Our current period is marked by uneasiness, which is a personal trouble, and the issue of indifference. Mass leisure, as opposed to poverty, has become the center of concern. The problems created by this leisure time, coupled with the ambition of men at work in the incorporated economy have shaped the problems of public and private life. Uneasiness and indifference now form the social and personal climate of American society. Social scientists must distinguish the elements of uneasiness and indifference while possessing the sociological imagination quality of mind.
2) Explain how unethical actions affect not only single businesses, but also entire industries and countries.
Business behavior affects personal and company reputations, society, and national reputation as well. Reputation in the business world influences everything. For example, reputation influences trade relations, who will hire you, buy from you, or who will finance your debt. Unethical behavior can tarnish the reputation of a business with lasting consequences.
National reputation can be compromised when unethical actions lead to a major crisis. The 2008 financial crisis had its roots in the United States. The reputation of the U.S., in turn, suffered greatly because of individuals and certain companies. China’s reputation has also suffered due to the contaminants found in some of the country’s exports. These scandals point out the key takeaway that corporate misbehavior does not solely affect corporate reputations. This sort of unethical behavior has detrimental effects that impact entire industries and countries.
3) How much does corporate reputation actually affect the bottom line?
Corporate reputation greatly impacts consumer buying patterns. Companies that take part in unethical behavior run the risk of harming their bottom line in today’s business world where reputation means everything. For example, two recent scandals have surfaced in corporate Japan that have each been highly detrimental to the companies involved. The first of these scandals occurred when the former chief executive of Olympus, the medical imaging and digital camera maker, released internal documents proving that the company made over $1 billion in improper payments over a series of acquisitions. As a result of this behavior, the company has lost half its stock market value this month.
The other major controversy of Japan concerned the country’s leading tissue maker, Daio Paper. The company filed a criminal complaint against its former chairman who allegedly borrowed $140 million in company money and channeled some of it to a Las Vegas casino company. Ex-chairman, Mr. Ikawa has admitted to borrowing the money but has suggested he intended to return it. Consequently, Daio Paper’s share price has dropped about 15 percent since the reports about the loans began to surface in the local media. Both of these scandals mark the importance of maintaining strict corporate responsibility. Unethical decisions have the ability to greatly upset a company’s bottom line.