Volkswagen 's Impact On The World 's Best Known Car Manufacturers

1584 Words Oct 29th, 2016 7 Pages
I. Volkswagen is one of the world’s best-known car manufacturers; unfortunately it has damaged its credibility and reputation with the recent emission scandal that the company was involved in. Volkswagen failed in establishing the triple bottom line, social responsibility, and sustainability.
The long and commonly held belief was that the only responsibility of business was to maximize the wealth of its shareholders. Today, however, companies must be socially responsible and focus on what is now called the “Triple Bottom Line” that is compromised of: environment, economy and people. All of this ties into the sustainability goals that companies are now setting for themselves to show the public that the firm is socially responsible. Recently, Volkswagen has been the center of controversy, because their diesel engines had a device that could detect when they were being tested and change their performance to improve the results. Volkswagen’s recent debacle has highlighted how failing to be socially responsible can come back to haunt a company. The emissions-cheating scandal that Volkswagen was caught in hurt the German carmaker’s image, brand and reputation. Before the scandal, the general public held the Volkswagen brand in high esteem. Volkswagen has been a car brand that has been known for its reliability and quality. However, in light of the scandal, Volkswagen received a plethora of negative media exposure. A Reuters article stated that the Volkswagen could do harm to the…
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