Apple Inc.’s Impact on Economic Inequality

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Table of Contents

Introduction
Corporate Social Responsibility at Apple
Conclusion
References

Introduction

Consumers associate with and trust brands that share similar values and principles. Generating commercial support by addressing social induce positive change for corporations at the grassroots level. Millennial consumers demand added responsibility from large companies regarding social causes affecting them, such as illiteracy, economic inequality, and climate change. Establishing trust and good relations is the foundation of corporate social responsibility, and American corporations have adopted ethical frameworks that demonstrate their commitment to championing social causes. Economic inequality generates social injustice, and Apple Inc. has addressed this social cause by creating jobs in American states through accurate racial representation in their workforce, the creation of data centers and universities, and the rise of Washington, Iowa, and Texas’ gross domestic product.

Steve Wozniak and Steve Jobs created Apple in 1976 to dominate the technology industry using superior products. The company’s mission and vision statement reflect a desire to inspire innovation by developing ground-breaking products. Furthermore, the founders understood the far-reaching effects of their long-term objectives; thus, this statement is constantly evolving to reflect current social issues (Digital Marketing Institute, 2021). Under the leadership of Tim Cook, the strategies developed thus far are founded under the ethical framework of fairness and providing safe working conditions for its employees. Additionally, sustainable practices for the environment express the company’s interest in safeguarding the future of the communities it serves.

The globe’s carbon footprint has seen a steady rise since the rise of industrialization. Manufacturing processes have proven detrimental to nature due to the harmful gases they produce that invade the ozone layer (Lyons, 2021). Shifts in climate have forced Apple to change the strategies implemented in developing new gadgets and products for its consumers. The company has invested in sustainable policies that preserve the environment, especially in the constant competition for raw materials (Digital Marketing Institute, 2021). Apple has committed to ensuring 100% carbon neutrality by 2030 for its products and supply chain (Rosenstock & Tulley, 2021). Tim Cook fervently believes that this move ought to minimize 75% of the company’s emissions and display its dedication to climate change.

Furthermore, social issues such as economic inequality center on providing the best quality of life for the community. America’s racial composition and ongoing struggle with representation do not go remiss from the company’s ethical framework (Croll, 2018). Tim Cook has pushed for social change and encouraged the initialization of racial equality projects worth $100 million (Rosenstock & Tulley, 2021). These projects are also aimed at social justice policies that stimulate economic growth in society. Additionally, minority communities gain a platform to expand their opportunities if they choose to associate with Apple.

Apple actively addresses the social cause of economic inequality by ensuring minorities are represented in its workforce. Economic change necessitates effective policies and strategies implemented at the social level to work. In America, Apple has committed to making more investments and creating roughly 20,000 jobs within the American market (Rosenstock & Tulley, 2021). Investments costing approximately $430 billion were launched in 2018, which was a deviation from the company’s original plan of $350 billion (Rosenstock & Tulley, 2021). Changes in the company’s investments essentially demonstrate the corporation’s commitment to its suppliers and consumers. The company’s CEO has also offered a targeted approach to creating innovative businesses across all 50 states and within the manufacturing and processing industries.

Industries like machine learning, software engineering, and artificial intelligence require skilled laborers to run efficiently. Similarly, to boost economic prosperity in minority communities, Apple has committed $1 billion to construct an engineering hub in North Carolina (Rosenstock & Tulley, 2021). Moreover, the investment is accompanied by a campus that will undoubtedly generate approximately 2,000 jobs (Rosenstock & Tulley, 2021). These societal initiatives have extended to the schools and people of Raleigh-Durham, whereby the infrastructure set up to transport raw materials may benefit the counties in North Carolina by providing better roads and bridges. Generally, Apple expects a return of roughly $1.5 billion based on their investments, a trend they have repeated in Texas, Colorado, and Iowa (Rosenstock & Tulley, 2021). Addressing economic inequality in the community fulfills Apple’s responsibility to its stakeholders and shareholders by creating wealth that is oriented to benefitting the common individual.

Corporate responsibility varies depending on the definition provided by the company. Two approaches are generally used; a profit-generating stance or focusing on executing the maximum good in society. Stockholder theory is founded on a company’s responsibility to its shareholders, specifically, a duty to increase profits. Milton Friedman, a prominent economist in the 20^th century, suggested the ethical framework behind this theory which assigned particular value to shareholders (Hunsaker, 2021). He argued that shareholders define managers’ salaries and thus, everything should be done according to their will. In contrast, stakeholder theory expands this definition to include those who may profit or become affected by the corporation’s activities (Hunsaker, 2021). These stakeholders include Apple’s employees, customers, and stakeholders that profit from the company’s decisions.

Stakeholder theory impacted the selection of economic equality as a social cause due to Apple’s investments across the 50 American states. In Washington, Apple has created an office space dedicated to environment design, creating 1,000 jobs for the community. Similarly, the data center constructed in Waukee, Iowa, has provided 500 jobs, displaying the company’s ethical framework in targeting social inequality. Finally, the ongoing campus being constructed in Texas aims to be operational by 2022 and effectively administer technological services to the people therein. These examples detail a corporation that supports the economic progress and prosperity of its relevant community.

Ethical decision-making is critically vital to establishing ties with consumers in the modern world. Millennials demand more accountability and transparency from the brands they associate with and purchase from. Apple exercises utilitarianism as a moral framework in decision-making, as evidenced by the net outcome their actions generate. Utilitarianism focuses on generating the best outcome from any decision, thus fostering happiness and growth. Social injustice and inequality are morally questionable and cause more harm than pleasure. Tim Cook, the company’s CEO, has paid particular attention to the representation of minority communities in tech industries. Social vices like crime are increasingly rampant if the individuals within society cannot sustain their families.

Utilitarianism was put forth by the English philosopher Jeremy Bentham and is based on achieving the well-being of the community by making morally-upright decisions. Apple’s choice to create jobs in the states of Iowa, Washington, and Texas will uplift the economic prosperity of the people therein. Additionally, education centers will aid in educating society, thus providing dependable and skilled laborers. If the largest number of individuals are satisfied with the tech services provided by Apple, then the company has effectively conducted corporate social responsibility. The ongoing popularity of the company’s products exemplifies the merits of utilitarianism.

Economic equality has a subsequent impact on the economic growth of a nation. Alternatively, inequality widens the gap between the elite and the working individual, creating an economic crisis. Efforts such as those made by Apple create more jobs and uplift the social status of impoverished families. Additionally, more income in the community means a surplus that can be used to purchase more Apple products and services. Wealth re-distribution could stimulate the economic growth of states like Detroit, whose manufacturing prowess was undeniable in the previous century.

Moreover, the ability of women and minorities to invest in the community is dependent on how much fluid capital they possess. Economic equality allows the youth to concentrate on education and to better their future rather than work. Statistically, wealth distribution amongst the American states determines their gross domestic product or ability to sustain their citizens. Income inequality goes against utilitarianism since it does not generate the greatest good. Oppression based on gender or race creates a divide that affects the financial market and consumers’ willingness to buy into new brands. The collective business efforts made by Apple’s leadership are dedicated to growth, personal and society-related, with particular mind being paid to future generations.

Conclusion

In conclusion, corporate social responsibility is the defining trait of companies that make ethically-sound decisions. It is essential that corporations like Apple must adapt a utilitarian approach to service delivery due to the numerous social problems in America. An analysis of Apple’s leadership reveals an ongoing dedication to minimizing economic inequality in the nation. Social responsibility has been done by creating new schools and data centers in varying states to boost the economic prosperity of the people within. Decisions made by popular brands should be founded on morality and geared towards creating a sustainable future for humanity.

References

Croll, P. R. (2018). Economic inequality and race: No, it can’t be that bad….Teaching Economic Inequality and Capitalism in Contemporary America, 213–220.