Ethics:
Behavior, Sustainability and Social Responsibility
2 August 2013

Abstract
Though there are business leaders and philosophers that object to the belief or need of exhausting time, money or resources for the welfare of its people, be it consumers or employees, data indicates that those who do recognize their noblesse oblige will prosper (BP, pg 149). Practicing ethical business operations has been a talked about subject since the eighteenth and nineteenth centuries. Whether it is sustainability or social responsibility, approaches to business ethics have yet to be standardized. At the peak of today’s ethical environmental dilemmas stands Monsanto, the organization that prides itself on the ability to create sustainable agriculture. There are also scandals with regard to scrupulous or fraudulent investors, such as Bernard Madoff, who prosper at the expense of trusting individuals. Lending institutions have also taken advantage of the financially ill-informed consumers who have lost their homes and in some cases their families and lives as a result of subprime lending practices (cite). Toyota, who was once known as one of the world’s fastest growing auto makers (cite) deliberately ignored the safety of its consumers in effort to continue maximizing its profits. Organizations lacking business morals must understand that responsibility does not rest on one source, but rather it should be a collaborative effort between the companies, governments, and individuals (Business Ethics). Until standardized practices are followed at home and abroad, leaders will continue to search for their moral compasses.

History and Supporters
Social responsibility is about organizations giving back to the communities or countries that contribute to their success. In the twentieth-century it was discovered that the sustainability of the world’s natural resources were being put in danger by mankind. After organizations responded to environmental laws, more and more companies began implementing internal programs and support within their own companies. A few of the companies that have joined the movement include: Waste Management, General Electric, Continental, Whole Foods and Hewlett Packard. All of these organizations have spent tremendous amounts of dollars on a cause that will not only generate profits for them, but will also earn the respect of the general public.
Society Issues
The sustainability issues that society faces include: air and water pollution, global warming and land. The chemicals that cause air pollution from various modes of transportation along with power plants and factories have been known to be the cause of certain health issues for humans and animals as well. Those related health issues are: asthma, bronchitis, allergies, birth defects and cancer. Air pollution issues negatively affect bodies of water, plants, and traveling visibility. A study conducted by researchers from the Massachusetts Institute of Technology found that combustion emissions cause approximately 13,000 premature deaths a year, with road transport being the biggest source. The study was published in the journal for Environmental Science and Technology and also reported in The Daily Telegraph on April 2012. In regards to birth issues, according to professors Ritz and Wilhelm, of the UCLA Department of Epidemiology, Environmental Health Sciences, and Neurology, approximately 150,000 births occur every year in Los Angeles County where air pollutants should be of great concern to the residents of that region. The professors indicate that the time between conception and birth is perhaps one of the most vulnerable life stages, during which the environment may have tremendous immediate and lasting effects on health.
Aside from the alarming fact regarding greenhouse gases and the accelerated fahrenheit increase said to be sufficient to flood coastal areas and low-lying inland nations (Business Ethics 9th ed.), additional agricultural concerns have ignited many into self-education for matters pertaining to environmental sustainability. Though the use of Monsanto’s genetically modified organisms (GMOs) have been banned in some countries, many others continue to accept them. Many have protested against the United States government not taking a lead on conducting detailed investigations on the current or expected health and environmental effects. Agriculture operations, such as those used by Monsanto, are also a major source of environmental and health concerns. Recently, (cite) reported that the Federal Drug Administration (FDA) allowed the company to raise the level of pesticides used for the sustainability of crops. It is known that the chemicals found in pesticides, animal feed and plowing is having a substantial effect on animals, insects and human health (cite).
Fraudulent Investors
Two of the most prominent and devastating news topics reported in 2008 were the somber economic conditions that the financial industry brought about as well as the shocking fraudulent discovery of Bernard Madoff. Madoff established his credibility in the early 1990s by heading up a legitimate business, which eventually served as a concealed advantage. Many believed his position and contribution to numerous organizations solidified his professional work ethic and because of the image he built he was able to gain the trust and financial commitments of many investors. As indicated in the 9th edition of Business Ethics, the list of investors consisted of celebrities, entrepreneurs, nonprofit organizations, and people with fortunate opportunities of belonging to elite and private clubs.
According to Richard Sonking, an investor from the early 1990s, Madoff required his investors to contribute a minimum of 100,000 dollars in effort to conduct business. With what people knew or assumed of Madoff along with his own guarantee of profitable return on investments, many did not hesitate to put their earned dollars in the management of such a respected, educated, and reputable man. Upon the discovery of the Ponzi scheme, even those that were not directly investing with Bernard Madoff, like New Jersey state senator- Loretta Weinberg, suffered a catastrophic loss. In the case of Ms. Weinberg, 1.3 million dollars of her life savings was instantly nonexistent. The J. Gurwin Foundation, Inc. was another victim of this Ponzi scheme. Prior to losing all of its assets, the foundation would make an annual donation of 1.2 million dollars for health care, services, and programs.
Although Madoff admitted to his unethical behavior in a court room and to the world via media or interviews, one could say that he has yet to take full responsibility of his actions. He was quick to clear the family name, however still believes that he did not act alone as colleagues, investors, regulators, and auditors had to of known. The text found within the 9th edition of Business Ethics indicates that Madoff employed less than qualified staff to take on the duties and responsibilities of certain operations. Those naïve minds served as ammunition, but one could say that at some point learning commenced for the inexperienced new hires and they too lost sight of their morals and values.
The fraud of the century epitomizes the classic case of greed. Bernard Madoff had ill intentions that benefited him, his family, his status, his lifestyle, his future. Though evidence has yet to clearly prove who exactly was involved and to what extent, it is safe to say that the fact that he did not act alone is crystal clear. The $65 billion scheme required more than one savvy, manipulative mind. White-collar crime of that degree requires mass participation; participation that comes with personal interest and rewards/”dividends”. In a 2011 ABC interview with Barbara Walters, Bernard Madoff stated that he lived the last 20 years in fear as he knew his wrong doings would catch up and that he felt happier now in prison than he has felt the last 20 years. A 150 year prison sentence put a screeching halt to the posh lifestyle of Bernard Madoff. Although the disgraceful financier claims to be remorseful, yet happier, he lives knowing that his greedy unethical actions were the cause of many people’s financial well-being as well as his son’s suicide.
The ethical issues involved in this Ponzi scheme include the occasional illegal business funds that were transferred into his legal business during times of low revenue, his position on a variety of boards, employing Shana Madoff who was married to a compliance lawyer with the Security Exchange Commission, employing less than qualified individuals, the continuous search for new investors that included subtle threats or guilt, the tremendous amount of new money taken in just days prior to his coming clean, and finally the lack of knowledge, in the sense of total assets, that his family/staff knew about as well as the limited information given to investors pertaining to their portfolios (Ferrell, pg 417).
According to a summary timeline of investigations on Bernard Madoff, the process began as early as 1992. Although concrete leads were not discovered immediately, regulators should have required him to cease expansion while in the process of conducting further evaluations. Going forward, another measure of security that can be taken would be to ensure investors have unlimited access to their account activity. Also, hiring personnel that do not pose a conflict of interest and have the required education and experience would ensure that shenanigans like this are eliminated, minimized, or at the very least discovered early on.
Predatory Lenders
The spending habits of today’s youth are increasing at a cyclic rate. There are fewer young adults graduating college and more filing for bankruptcy. Many are not receiving the education at home or at school and regardless of what path they decide to take- career or college, they are taking it with little to no financial knowledge. This paper will stress the need to implement financial literacy into the school curriculum. It will also provide information on the views of those that are opposed to the change as well as testimony from those that did not receive this imperative life lesson. The overall intent of the research gathered is to recognize and react to the blemished economy that ill informed consumers and unregulated businesses left many Americans in.

Alan Greenspan said, “Improving basic financial education at the elementary and secondary school level is essential to providing a foundation for financial literacy that can help prevent younger people from making poor financial decisions that can take years to overcome.” Last year Warren Buffet created a cartoon web series called The Secret Millionaires Club. The short series entail relatable problems and solutions, such as a low-performing lemonade stand or a troubled bicycle shop. The creation of this series clearly exemplifies how tiered and tailored education on what some may consider daunting or convoluted can be understood and exercised by our youth. In 2007, President Barack Obama announced April as “Financial Literacy Month” in effort to encourage Americans to invest some time on expanding their understanding of personal finances (http://thehill.com). Servicemembers are also supported with financial resources and tools as part of their compensation benefits. The “Military Saves Campaign” is an annual event that encourages the entire military community to focus on ways to reduce debt and plan for a secure future (http://militarysaves.org). It is safe to say that financial literacy is needed if distinguished individuals and organizations offer flourished programs that have their stamp and seal of approval. Yet, the financially fit seed is not being planted by educators within the school system.
Is Financial Literacy Useful and Needed?
Unfortunately, at this time financial education at the school level has not been linked to positive financial behavior (Hathaway and Khatiwada, 2008). Currently, there is insufficient empirical data that justifies the push and support for the curriculum. As of 2002, 14 states required the implementation of personal finance and only 4 states required students to take such a course in high school (Meszaros and Suiter, 2005). Upon review of all outcomes, the research of Hathaway and Khatiwada concluded that there was a major disconnect during the developmental process of these standards. The largest issues were lack of standardization, methods of evaluation, age relatable material, and delivery styles. Further findings reported that there was no doubt that the curriculum was needed; simply doubt that it was functioning. Therefore, until the original curriculum developed is revamped to reflect standardization in respect to expected quality and quantity of instruction along with documented developmental growth, it will continue to be an integral educational piece that today’s youth will go without. An additional component that continues to stir arguable conversation is agreeing on when the curriculum should be introduced and by whom.
At what stage should financial literacy be implemented and who should be responsible?
The Forum for Youth Investment reports that only 32 percent of parents discuss personal finances with their children on a regular basis. It is imperative to recognize that these real life skills cannot wait until high school as some kids may already have incorrect knowledge engrained based on parental observation. Scholars from the American Psychological Association assert that basic financial concepts are best received by children between the ages of eight to twelve. If children repeat foul language or behavior that they hear and see at home out in public, it is highly likely that in the process of managing income and expenses, they will also repeat the foul financial observations. Therefore, school teachers should serve as primary instructors so that they may be more effective at addressing and correcting what kids have seen at an early stage instead of at fourteen or eighteen. Affording proactive coaching and mandating testable curriculum will arm today’s youth with the basic knowledge necessary to make informed financial decisions.
Although some may feel that courses related to personal finances would be more appropriate for high school seniors or college freshmen, it is crucial to acknowledge that not every child completes or furthers their education. Regardless of what path is taken young adults instantly inherit two sizeable roles or abilities when they turn eighteen. They are expected to be informed voters and consumers. However, a basic level of intelligence requires more than a year or semester of high school education. The school system could smoothly and costs effectively integrate the information needed to uphold those expectations into today’s curricula.
There is an immense amount of available, and in some cases free, resources that are specifically tailored to the developmental stage of each grade. A few of the existing organizations are: Jumpstart Coalition, kids.gov, and Military One Source. They offer lesson plans, workbooks, publications, story books, web site training, simulations and group work activities. The age appropriate learning objectives could be covered as part of the math and reading core subjects or as a standalone class for certain grade levels.
How does marketing influence our youth? Jacques Brodeur, an educator of over 30 years and now a consultant in the field of media education, reports that the funding granted to this industry has astronomically increased. Advertising budgets went from 100 million dollars in 1983 to 17 billion dollars in 2007 (www.commercialfreechildhood.org). According to the American Psychological Association, children between the ages of eight and twelve are the most targeted and those under the age of eight cannot distinguish between the truth and advertising. Commercials have proven to be an excellent marketing tool as they have been able to capitalize on the amount of time that kids devote to the television. With an average of 40 hours a week and 40,000 commercials in one year, today’s youth is learning how to spend as opposed to save. Additionally, they will be exposed to advertising via the internet and magazines. How is it possible for the marketing industry to generate such favorable monetary results if the targeted group has very little to no money to work with? Marketers are well aware of the influential power children have over their parents in this arena. They know that if they cocktail kid logos to ordinary household products, eateries, newly released movies or books- they have a sale.
What are the economic effects of ill informed consumers?
Lack of consumer knowledge and scrupulous lending practices brought shame, anger, and loss of revenue to the economy. The housing market meltdown has left a memorable blemish for individuals as well as lending institutions. Many consumers fail to understand the products and services that are being offered. Consumers rely on lenders, as the duty experts, to disseminate all pivotal information while lenders expect consumers, as adults, to do their due diligence and read between the lines (Murphy & Maniam, 2012). The conglomeration of illiterate consumers and shady unregulated lenders attributed to the short sales, foreclosures, and bankruptcies that are still occurring today. Foreclosures have not only led to a decline in property value, but they have also been linked to an increase in crime (Teasdale, B., Clark, L. M., & Hinkle, J. C., 2012).
Another economical impact of the ill informed is the excessive business they contribute to payday lenders. The Department of Financial Institutions in Washington reports that payday lending is a $434 million dollar industry. These loan providers make it extremely easy for most people to obtain a loan. Unlike a reputable lending institution, payday lenders will not decline applicants with bad credit. The risk these loan sharks take on usually generates incomparable profits. The monstrosity cost of payday credit minimizes consumer’s disposable income which minimizes money retained in the household and its ability to cycle through the economy. Over the course of 15 years these stand alone entities have inundated certain communities.
Figure A:
It has been reported that payday lenders will often be found near military installations and in low income communities (Hynes, 2012). Figure A portrays what is seen an excess. In this snapshot Just Military Loans uses the Marine Corps’ sign as a form of endorsement that will be perceived by some as a safe affiliate of their organization. Their verbiage is often misleading as well, such as what they chose to use on this online advertisement: “There are hundreds of payday loan and other lending options in and around Oceanside, CA. Because we are not a payday loan provider, we can offer active duty military around the Camp Pendleton Marine Corps Base much more than local stores.” These service providers are well aware of the fact that 18-22 year olds make up the largest portion of active duty members. They target these locations and age groups because they know that many of them and their families are inexperienced in terms of understanding matters of personal finances. By law they can charge up to 36% for military borrower (dfi.wa.gov). The lucrative profits that are generated will continue to be a part of their cash flow if people continue to go without the necessary knowledge. Young adults must not only be informed of the use of wise credit, but also of where to obtain it from. Negative economical impact can be diminished by ensuring financial education is afforded. By not taking a proactive approach financially at risk young adults will struggle in the process of making some of life’s major purchases and they will continue to impose a detrimental effect on the economy (Robb & Pinto, 2010).
It is no secret that while the cost of college tuition continues to increase, grants and scholarships are becoming a benefit of the past. In most cases college applicants are not offered guidance by anyone in relation to salary compensation and educational expenses. These future leaders are also not given resources that could help them compare cost of living or potential job growth in their field. Applicants are relying heavily on student loans with no guarantee that they will have the income needed to repay the enormous debt. As reported by The Wall Street Journal, even the ramifications of deferment or forbearance can be abrasive.
Sadly, schools are losing students to debt over academics. There is currently 1 trillion dollars in outstanding student loan debt, which is reported to be the number one source of debt outside of mortgages (Personal Financial Management Program, 2010). The embedded link has been provided in this research to serve as a testimonial piece of what young adults have to say in regards to their lack of understanding in the case of personal finances (https://plus.google.com/107764589033931452963#107764589033931452963/posts). In 2012 the Marine Corps polished up their support for the Marines and Sailors that are ending active duty service. They reevaluated an existing program and discovered that it needed to be enhanced. The mandated Transitional Readiness Seminar (TRS) consist of a weeklong of duty experts prepping the minds of those getting out of the military with relatable financial scenarios they should expect within the next 6-12 months. Because many service members getting out will incur new expenses or greater expenses that they never had while on active duty (rent, utilities, health care, life insurance…) this mandated training ensures that they know how to live on a budget, pay off debt and save and invest. They are also informed of the importance of reviewing and understanding their credit report and score. In addition, the Marines and Sailors are equipped with a handbook that mirrors the slide presentations along with the instructor notes.
The best enhancement to the program is the pathways it now offers. Each Marine and Sailor (including spouses) will be able to attend a pathway of their choice that same week. There is a “College Pathway”, “Career /Technical Pathway” and an “Entrepreneur Pathway”. Each pathway will teach them what they need to know prior to committing to their plan. Upon completion of the TRS, evaluations are submitted. Curricula responses shared to date are: “this class was scary, but good”, “I didn’t know a bad credit score could cost me a job, require a deposit for each utility, or higher insurance premiums”, I have never lived on a budget, but now that I will be making half of what I am accustomed to I will be making an individual appointment with the financial counselor”, I learned a lot about student loans and interest”, I’m glad this was a requirement because I wouldn’t have looked into this myself”.
The new TRS is receiving documented high marks because someone took the time to reconstruct an outdated less effective system. The funding and implementation of the new program was granted because the original development covered all possible pitfalls and the pilot programs validated its success. Because the new curriculum’s materials, expectations, and deliverables have been modified and standardized, today’s evaluations of the program are solidifying the time spent, incurred expenses, and the needed change.
In conclusion, the end result of this research is that although people recognize the need of financial literacy for youth no one is doing anything to recreate the curriculum once offered. Like the great efforts the military recently took, the same should be enacted by congress for the school system. It is time that people stop granting other fields, such as the marketing industry, with an immense amount of monetary power. Giving less there, for starters, and more to research and improvement required for the success of financial programs at the school level is the only option that will possibly generate well informed consumers. And although that is still only a possibility, it is far more than what we have to go off of today. As stated in the report by the Office of Financial Education, it is in the hands of our states to request the implementation of testable financial material.
It is unfortunate that the personal sentiments of some will blame the rise in consumer debt to unwise borrowing practices. The audacity of consumers, with little to no financial knowledge, will blame those that lacked ethical practices. What is most disastrous is that without mandating financial literacy for youth and without effort to create or realign funds we may continue to lose our youth and future leaders to debt and ignorance.

Mortgages
Payday Lenders
Toyota
Toyota’s Product Liability and Negligent Protective Measures
Attorneys from Lieff, Cabraser, Heimann & Bernstein, LLP, one of the top law firms (in ?), represented Margaret and Dennis Sowders in the case of a wrongful death due to a product liability of Toyota. Michael Burress lost his life on 23 December, 2010, while driving his 2008 Toyota Yaris on the highway. It was reported that his vehicle veered off the road and straight into a metal pole after his driving speed unexpectedly increased. The family of Michael Burress decided to take their case to trial after the tragic loss of their 23 year old son. Burress, a former Marine with two combat tours to Iraq, had recently ended active duty service and was starting a new chapter in his life as a college student and a crane operator. The formal complaint for damages listed on the court documentation include: negligence, liability design defect, failure to warn, breach of implied warranty, fraudulent concealment, wrongful death and survivorship, and claim for punitive damages.
Court documents report that unlike the Toyota Yaris models that were sold in Europe, the American ones were not equipped with a brake override system, which according to Consumer Reports, is designed to mitigate the risk of unintended acceleration by allowing the driver to take control of the vehicle upon recognizing the manual pressure of the brake pedal that would disengage the automatic system. Unfortunately, this vehicle and other Toyota models did not have this safety feature prior to 2010. Like Michael Burress, others also paid the ultimate price due to product liability. Research indicates that nearly 48,000 consumer concerns were reported to Toyota from 2002-2010. Furthermore, investigations also concluded that the company was aware of the defect and the incidents and deaths that were occurring. Experts at Safety Research and Strategies, Inc. estimated 760 crashes, 341 injuries, and 19 deaths.
As expected, the company was under public scrutiny for explanations and future expectations. Recalls began taking place in late 2009 and early 2010, although 2007 internal documents revealed that Toyota was aware of the cause and effect and in fact began receiving consumer complaints as early as 2002. Toyota failed to take appropriate action early on and when they did they failed to own their error in manufacturing the vehicles. Instead, their explanation to the public was that the floor mats and sticky accelerator pedals were the cause of the issue. Even after those recalled vehicles were repaired, the complaints of unintended acceleration continued by drivers. It became obvious that the initial explanation given by the company was not the core of the issue. The National Highway Traffic Safety Administration began an investigation on April 2003 for selected models built from 1997-2000. However, Toyota was also made aware of the defect through an internal Field Technical Report. In addition, almost a year later, a forensic technologist and mechanical engineer submitted another report to Toyota regarding the same issue, diagnosis, and recommendations as the others. By 2008, a total of 8 investigations took place on a series of models. In August of 2009, a California Highway Patrol officer and his family were killed when their Lexus ES350 unexpectedly accelerated to speeds of over 100 miles per hour. One month later Toyota simply alerted consumers by suggesting that they remove their floor mats because of a potential to jam the accelerator.
Additionally, per the information disclosed in the law suit, statements collected from Toyota’s top leadership revealed that they were not only aware of the manufacture defect, but also reckless in addressing the problem. By October of 2009 Toyota recalled millions of Toyota and Lexus vehicles under the pretense of interfering floor mats and sticky pedals. One month later Toyota issued a press release stating that the investigations of the National Highway Traffic Safety Association concluded no defects and the NHTSA countered the announcement by stating that Toyota’s press release was inaccurate and misleading. After a few more years and several more consumer complaints, Toyota announced that the sale of those models would cease. One week after the January 26th, 2010 announcement, they began selling the defective models again. In February 2010, Mr. Akio Toyoda, President and Chief Executive Officer of Toyota Motor Corporation, testified before the Committee on Oversight and Government Reform of the U.S. House of Representatives. His testimony was apologetic for the accidents that occurred and also included admitting to the company not adhering by their priorities of “first, safety; second, quality; third, volume”. Toyota announced that they would install the necessary safety device in new vehicles as well as several other models covering the years of 2005-2010 (Sowders v Toyota, 2011). By April 5, 2010, Toyota was fined $16.375 million dollars by the NHTSA for hiding safety defects related to sudden acceleration in 2.3 million vehicles.
Margaret and Dennis Sowders, parents of Michael Burress, are claiming loss of financial support; loss of services; recovery for grief, mental anguish, emotional pain, suffering and distress; medical, funeral and burial expenses; loss of lifetime earnings of Michael Burress. As of today, this case has not been resolved nor did it mention the role of the insurance company. However, reads found online as recent as July and August 2012 state that the National Highway Traffic Safety Administration, engineers at National Aeronautics and Safety, and National Academies of Science have eliminated electrical or software problems as a cause for unintended acceleration. As a jury member I would favor the plaintiffs request for all damages and expenses incurred as the court documents present strong evidence of internal knowledge to the issue. I would also disregard the recent statements found online by Toyota regarding what the highly respected business entities have reported as one of those already publicly disagreed with statements that Toyota presented to the public regarding their findings in the past. This is a classic case of politics, business over morals and greed. Toyota’s 2003 sales surpassed General Motors, one of the “big 3” and as of 2010 Toyota was ranked as the world’s largest manufacturer with more than $200 billion in worldwide sales, Sowders v. Toyota (2011). Perhaps fair judgment would be for Toyota to be shut down; however, the state of our economy will always supersede the respect for human life.

Conclusion As indicated in the appendix of Business Ethics, stakeholders do have concerns relating to the ethical and social responsibility of the organization. Those companies that choose to support those concerns will more than likely continue to maintain consumer and stakeholder relations. Although there is controversy about who is ultimately responsible for proper disposal or recycling of a product, it would be most beneficial for all to understand that the responsibility should not rest on one source, but rather it be a collaborative effort between the companies, governments, and individuals (Business Ethics)

References
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Washington State Department of Financial Institutions (2010). Financial Literacy Statistics. American Children, Teenagers and Young Adults. Retrieved from http://www.dfi.wa.gov/consumers/financial literacy.stats.htm

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Eco-Friendly Product Claims Often Misleading TerraChoice: The Six Sins of Green-Washing