¶ … Tiffany & Company. Tiffany & Company is one of the world's most famous jewelry stores, and they sell upscale jewelry to an upscale clientele. Here, Tiffany's stance on environmentally friendly mining practices seems to be ad odds with their business model, but they do not see it that way. They believe they can be socially responsible, provide their customers with service and responsibility, and still create high-quality products.
The ethics in the case are clear. First of all, the retailer is getting involved in government reform and policymaking, very different from their original mission. They could also harm the brand and its stakeholders if they become too public or loud in their attempts at reform, and they could draw criticism and even rage from the mining producers they deal with, leading to higher costs and perhaps smaller profits.
The company recognized that its views on mining and extraction, and attempts to change the industry could bring very negative publicity to the company, and that it could affect the brand. The CEO, Michael J. Kowalski, has a strong moral sense of what is ethically right and wrong when doing business, and he believes that he has an ethical duty to provide his customers with the most environmentally sound jewelry that he can. Most other jewelry companies do not operate that way, so they make their lives much easier. Ethically, Tiffany is doing what is right and moral, and that makes them a company that concentrates on "strategic importance" as Kowalski notes. Tiffany, according to this case study, could be a master plan for other companies who want to operate more sustainably and creditably, and they could be studied for their views on ethics and doing business ethically. They have a duty to their shareholders, but they have a duty to the planet, too.
You’re 100% through this paper. Sign up to read the full paper.
Sign Up Now — Instant Access Already a member? Log inAlways verify citation format against your institution’s current style guide requirements.