There is an additional disease rapidly spreading with coronavirus. It mostly affects companies, but specifically, the airlines industry. That disease is “moral bankruptcy.” A company’s “moral worth” is the moral equivalent of a company’s net worth. When a business caters to its stakeholders \u2014 the customers, employees, and community \u2014 it increases its moral worth because its actions benefit all stakeholders. In contrast, when a business only serves its shareholders \u2014 prioritizing profits and shareholder returns over everything \u2014 it depletes its moral worth, and by extension its net worth, because its actions inevitably harm key stakeholders. Today, China Airlines is most affected by moral bankruptcy.
\nIn the past, the company has demonstrated its commitment to customer service by boasting about the maximum number of plane crashes in history. Today, it continues that streak by offering no (or partial) refunds to its customers. The company has added a “Novel Coronavirus Service Information Section” to its website, where it offers refunds to its customers. But look closer, and you will find nothing, for the fine print does not mention that the airlines will levy a cancellation fee of 25% of the ticket cost. \\<\/p>\n","protected":false},"excerpt":{"rendered":"
There is an additional disease rapidly spreading with coronavirus. It mostly affects companies, but specifically, the airlines industry. That disease is “moral bankruptcy.” A company’s “moral worth” is the moral equivalent of a company’s net worth. When a business caters to its stakeholders \u2014 the customers, employees, and community \u2014 it increases its moral worth because its actions benefit all stakeholders. In contrast, when a business only serves its shareholders \u2014 prioritizing profits and shareholder returns over everything \u2014 it depletes its moral worth, and by extension its net worth, because its actions inevitably harm key stakeholders. Today, China Airlines […]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[220,130,137],"tags":[],"class_list":["post-340354","post","type-post","status-publish","format-standard","hentry","category-civil-aviation-the-times-of-india","category-newspapers","category-the-times-of-india"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/340354","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=340354"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/340354\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=340354"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=340354"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=340354"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}