Essay on Business Ethics and dilemma

2. Laws must be static and unyielding in order to provide stability for a society.

Do you think this is a case of putting profits first? Explain. Maybe so, but since this is a well known Pharmaceutical Company, I am quite sure they did not want their name/reputation tarnished.

closing the stores they could have done community outreach or service projects to help lower the rate of crime. They could have led the establishment of a neighborhood crime watch. They could have set up a mentorship program for teens at risk. There are a multitude of programs they could have implemented, some could probably have been used as a tax write off. If all of these efforts failed then I understand closing the stores. If they had to close the stores they should have made every effort to be sure that the displaced employees were able to find a job in another store or assisted them in being placed in another job. They also need to make every attempt to keep the building they were using occupied or cleaned up until it is occupied. How do these actions contribute to being socially responsible? It shows they care about their community, that even though they may have to shut down a store, they still

Ethics and moral obligations are issues we all encounter at one time or another. In the professional setting, all people should act in a manner that would uphold the good of society. To be ethical, one has to determine their obligations, moral ideas, and moral philosophy (Boatright, p. 19, 2009). The case analysis involving Jacob Franklin was a perfect example of how an individual can face the dilemma of doing what is right or wrong. Businesses have their own code of ethics, and the employees within the business have to determine whether or not they will follow the company’s code of conduct. I will discuss several ethical issues in the case analysis including; failure to report information, remaining silent regarding faulty equipment,

What is principle of justice in acquisition? Our book gives us an analogy concerning basketball player, Wilt Chamberlain that was used by Nozick. The idea

an action can't be right if the people who are made happy by it are outnumbered by the people who are made unhappy by it.

Get support from other pharmaceutical company instead of developing the compound alone (financial and resources)

The concept of business ethics has tried to change the way businesses operate over the years. Business ethics is a form of ethics that governs the actions of businesses to circumvent the affects business has on every day society. But some question its effectiveness in the application of capitalism. Several case studies have shown that this is the case; many companies place the pursuit of money in front of the pursuit of virtue. Although, the majority of companies are not in the spotlight of acting unethically, can we conclude that they follow the ethical norms? It is natural for normal human beings to act ethical but businesses are on a completely different playing field. But could business ethics be clearly possible in capitalism?

The notion of ethics deals with people’s behaviors within a company. Social responsibility involves a company’s moral obligations and the manner in which the organization makes its decisions. Although ethics and social responsibility are similar on a conceptual basis, each has its own unique characteristics that express their differences and its independence of the other. Ethics and social responsibility have to be present and coincide with one another for a business to be ethically sound.

5. Assess PharmaCARE’s environmental initiative against the backdrop of its anti-environmental lobbying efforts and Colberian activities. Examine if this renders the company’s purported environmental stewardship better or worse and if the company’s public stance should carry an obligation to be a leader in environmental matters. Support the position.

2. Ethical Issues in Business. It seems that every day in the news we are hearing of new company that has acted at least unethically and possibly illegally in the operation and financial reporting of their company's business dealings. There are many ethical issues in business. One major issue that we see is over and under reporting net income. Companies like to show that every quarter the net income of the business has an increase or profit. In order to show this they adopt unethical or illegal means in the operation and financial reporting. One such method is the indiscriminate use of stock options for employees that enable companies to take employment costs off balance sheet and inflate earnings. With the recent ethical issues we have

What cost would Merck incur from investing in this unprofitable drug? What Benefits would Merck receive from investing in this unprofitable drug?

The foremost concern the Pharm Universe management has is its’ desire to transform the organization into a multi-product company that would be able to compete in a global scale. The company has had a patented discovery and marketing of an effective blood clotting drug and they have been intent on developing new formulas for medications that would strengthen resistance against bacterial infections and reduce memory loss for the elderly. The pressure is on, though, for the unit members to come up with new and viable formulas that would put Pharm Universe ahead of the pharmaceutical competition. Failure to do so would mean dire consequences for the management team, even worse, termination from the company. Organizational issues can be rooted upon

Research and Development: Merck is a research-driven company that has a new research and development model incorporating its business strategy. Merck hopes to improve the success of is R&D and to reduce costs by focusing on therapeutic areas that have unmet medical needs, and scientific and commercial opportunity. It plans to develop products within these therapeutic areas that are highly valued by patients and doctors.

All over the world business reputations are hitting a downward spiral, which is a serious concern for business leader because they hire the workers to produce the best possible outcome for their business. Business leaders are concerned about their unethical workplace being the explanation why their business is down the tube. Dr. Barry Morgan from the Archbishop of Wales support calls for an ethical business law. In proportion to the ethical business calling on the BBC, “Dr. Morgan believes an oath for those with the Master of Business Administration (MBA), which lays out a code of principles like the Hippocratic Oath does for doctors, would help with responsible leadership in business” (BBC: News Wales, 2011). It is probably the case that all businesses should sign the oath, this gives consumers to show that they are dedicated to being an ethical business. There are numerous of long run businesses that known to be unethical and they can steer the new business in the unethical direction. By adapting to business ethic terms and look for examples in the business fields that have an ethical or unethical reputation, this will give the opportunity for the business leaders to steer their employees into a healthy environment for their business to go the right direction.