Business Ethics In The Tractor Industry

[5030]

I'd say ask JD about being ethical.

 

[Raul-02]

Hate to say it, but in todays world, most tractor company’s #1 ethical responsibility is to deliver the highest possible profits to its shareholders while maintaining or increasing market share

That's actually a duty at law. Shereholders can enforce it with a derivative shareholder's lawsuit. If they win the officers and directors have to pony up from their own pockets and disgorge lost shareholder value.

 

[Raul-02]

What are the areas of ethical responsibility that is specific to this industry?

Honestly I think ethics and morals are just fancy tales we tell children to get them to behave.

 

[Overtaxed]

Hey number15, can you give some examples of losing business by being ethical ?

I don't think it's a matter of "losing business", I think it's a matter of going out of business. If you operate differently than most other companies (IE, ethically) and you can't pass those costs on to your customers, you go out of business. Prices are too high, profits too low, and the business disappears. There are countless examples of this, companies where profits took a back seat to "changing the world" or "serving the customer" that are long gone. Ethics are a "nice to have", profits are a "must have", and, given that broad criteria, you can see which will be optimized for more heavily.

 

[Number15]

Hey number15, can you give some examples of losing business by being ethical ?

1 example, we had a customer that wanted us to do something that crossed into a very gray area. In our business there are rules to be followed and you are supposed to self police and follow them. This customer wanted us to do something that we knew was wrong and our reputation and frankly their reputation would suffer. So we said we weren't doing it and they have never contacted us again. To add they were not a small customer, and we had done business with them for years, but in our industry reputation matters.

 

[Cahaba Valley Farm]

1 example, we had a customer that wanted us to do something that crossed into a very gray area. In our business there are rules to be followed and you are supposed to self police and follow them. This customer wanted us to do something that we knew was wrong and our reputation and frankly their reputation would suffer. So we said we weren't doing it and they have never contacted us again. To add they were not a small customer, and we had done business with them for years, but in our industry reputation matters.

If you don't mind me asking, what business are you in Number 15?

 

[Bill Guenthner]

That's actually a duty at law. Shereholders can enforce it with a derivative shareholder's lawsuit. If they win the officers and directors have to pony up from their own pockets and disgorge lost shareholder value.

 

[sd455dan]

deleted post

 

[priberc]

I guess I'm pretty ignorant and rude. In Canada there are only 5 banks because they have a government protected monopoly. Every year they report record earnings. They pay no interest on savings. Every year my bank fees go up. Every year they reduce service and make it impossible to speak with a human being.

If I stuff $1,000 cash in my mattress I will have $1,000 at the end of the year. If you put the money in a bank I will only have $880 left in the same period. That's before inflation knocks off 5+% of its value.

Guess what? Car insurance companies in Ontario Canada also have a government enforced monopoly. Guess what banks are now getting into? Providing car insurance. WTF. So much for "free market"

US banks have a lower interest rate on savings accounts.....with some as low as 0.01% and a high of 1% according to a web search
Car insurance in Ontario is not a monopoly....there are 53 registered insurance companies providing auto insurance in Ontario. Those 53 companies are licensed and regulated by the province
Are you even in Ontario?

 

[rScotty]

Wonder if that pertains to the 'right to repair' lawsuits Deere is embroiled in presently?

John Deere Code of Business Conduct

https://secure.ethicspoint.com/domain/media/en/gui/57575/code.pdf

Whew! 50 pages!
But what is interesting in John Deere's Code of Business Conduct is what is included vs. what is not.

Their code of conduct focuses on their relationship with their employees and other businesses.
There is little or no attention paid as to how John Deere relates to their own dealers or customers.

That could be an incredible oversight. But more likely they thought about it and decided that the company does not see dealers and customer relations as being part of their corporate business ethics.
Corporate John Deere just doesn't see dealer/customer relationships the same way customers do.

And it also means that the minimal customer, repair, or warranty statements in their ethical code shows that JD considers the "right to repair" lawsuits as being business based; not ethically based.

So I guess you could say that corporately JD is ethical, because they have defined themselves that way. At least they took the time to do so.
rScotty