Ethics and Corporate Responsibility Essay

Abstr dallyPharmaCARE is on of the worlds most successful pharmaceutical companies. This write up go out take a look at Ethics and Corporate Responsibility in the regulate displace and the world and how PharmaCargon provided insight to their stakeholders CompCare and who takes on the overall honest and social responsibilities of the organization. The importances of the decisions made by management are discussed as well as the ability to make changes to support a more honorable proceed on environment. The ability to improve operations and turn a profit are explained by discussing managements requirements to abide by regulations governed by the Occupational Safety and Health Administration, Federal Drug Administration, Environmental breastplate Agency, Equal Employment Opportunity , Comprehensive Environmental Response Compensation and Liability Act and former(a) regulatory policiesEthics and Corporate Responsibility in the Workplace and the World IntroductionIntroductionThis p aper will examine PharmaCares ethical and social righteousness around its operations, products, and obligation to stakeholders. PharmaCare, a illustrious fortune 500 pharmaceutical corporation listed on the NASDAQ is wholeness of the companies that kick in all these initiatives in place. It is considered one of the most ethical and social responsible companies in the world due to m whatsoever initiatives it takes to commit to its responsibility to protect the environment and enhance the quality of life for millions around the world. In recent geezerhood, many companies take managed to become a benefit corporation (B-corporation).This effective form of corporation is to provide levelheaded protective cover to management that want to both maximize shareholder income and pursue a social or environmental agenda (Andre, 2012). This paradigm shift is due to consumers awareness, global warming and globalization in the line of descent world. All global companies relieve oneself developed ethical, environmental and sustainability policies for their employees, suppliers, contractors and other stakeholders to follow.Key characteristics of Stakeholders within the PharmaCARE scenarioPharmaCare has a legal obligation to all of these stakeholders. The Company needs the employees to carry out its day-to-day operation in so doing they may offer many incentives to keep the best employees. The suppliers are one of the main factors to this chain because they cast to provide the machinery or raw material because employees can produce a product. The shareholders, investors and creditors are the parties providing funding for PharmaCare to operate. humankind rights issues of the Colberias world versus that of its ExecutivesSeveral firms have faced legal suits due to the manner in which they have treated the public, workers, consumers, and the environment during their patronage activities. For instance, the competition bureau of Canada found Azko Nobel Chemicals BV guil ty and they were charged in the federal official greet of Canada on August 18, 2003. The company had taken part in a conspiracy to recreate market prices for a crucial food additive that was an essential ingredient for an important animal go and a chemical use that was in several commercial and consumer products. The company was fined $2.9 million by the court (American Bar Association, 2002).Many consumers as well as social interest groups believe that firms should non just aim at maximizing their profits but they also baffle into focus the social implications of their business activities. Social responsibility has been defined as acting with concern and sensitivity and the awareness of theimpact of your operations on others, especial(a)ly the disadvantaged (Entrepreneur, 2014). Some of the very basic ethical and social responsibility issues have been put within the contact of laws and regulations that will encourage business organizations to be in conformity to societal st andards, values, and attitudes. The borderline expectation for business managers is that they should abide to and uphold these rules and regulations (Griseri & Seppala, 2010). The majority of the legal and ethical issues that arise are as a result of choices that are deemed unethical, irresponsible, or otherwise acceptable by the society. It is however worth noting that not all actions that the society deems unethical may not necessarily be illegal since both legal and ethical issues are dynamic (Hines, 2000).In this case, the manner in which PharmaCARE has treated Colberias indigenous population falls within the definition of unethical practices as well as unacceptable merged behavior. To come with the company has unfair compensation policies that pay huge salaries to executives and exploit the rank-to-file workers. These workers receive unretentive salaries and are uncovered to harsh and unsafe working conditions. In addition, the company subjects the workers to unsafe workin g conditions. Recommend at least three (3) changes PharmaCARE can make to be more ethical going forward. Make stronger the connection among the rank-and-file military force and management. This will allow the corporation to come up with good tactical plan which will pass on the company in realizing its missions and goals. Contribute in various corporate social activities. This is though hiring Colberians and compensating them well.They should also work hard to improve Colberians standards of living. Follow the laid US laws to the letter, for instance, environmental laws as well as mental property la Assessing PharmaCAREs environmental initiative against the backdrop of its anti-environmental lobbying efforts and Colberian activities. PharmaCARE exposes its workers to unhealthy working conditions. Many of the employees have been falling sick as a result of inhaling toxic substances arising from the companys laboratories. Even with bounteous knowledge of the situation, the managem ent has refused to take any remedial action and the workers continue to suffer. Further, the company has been accused of preparation an unsafe drugto the market that has been associated with many cardiac deaths. As a result of these happenings, the companys purported environmental stewardship initiative will be rendered ineffective especially in the wake of the lobbying efforts against the companys operations in Colberia. The company has engaged in acts that may be considered unethical and socially unacceptable.PharmaCARE accordingly lacks the moral authority to spearhead environmental matters since its reputation in the public has been seriously damaged. In addition, the companys alleged mistreatment of its workers subjects it to sabotage of its environmental efforts especially when the workers health continue to deteriorate because of the companys negligence. Would PharmaCAREs actions be ethical with respect to the indigenous people of Colberia in accordance with the following et hical theories. Utilitarianism- PharmaCares uses Colberian intellectual property because it does maximize resources, but does not promote happiness. People in Colberian work so hard but still live in harsh conditions. They have no recreation and endure pain, which is a clear depiction of unhappiness. In addition, the workers who are members of the Colberian population suffer due to poor working conditions. PharmaCares actions were unethical. Deontology the company has an obligation to be morally responsible as well as provide healthy working conditions to the employees.The company had been informed of the dangers surrounding the drug production but failed to act accordingly to assist in reducing the risk. PharmaCares actions were unethical. Virtue ethical motive- Virtue ethics is person, rather than action based it looks at the virtue or moral character of the person carrying out an action, rather than at ethical duties and rules, or the consequences of particular actions (BBC, 20 09). Though PharmaCare was justified by intellectual property right to go ahead and carry out its duties, the activities were wrong and unethical since the character of company officials was interdict. PharmaCares actions were unethical. Ethics of care- by analyzing the companys actions based on ethics of care, the companys activities emerge as unethical. As an ethic grounded in voice and relationships, in the importance of everyone having a voice, being listened to carefully and heard with respect.An ethics of care directs our attention to the need for responsiveness in relationships and to the costs of losing connection with oneself or with others (Gilligan, 2011). Since the Colberian peoples response was negative by their complaining,the entire companys project was unethical. Your own moral / ethical compass- from a personal point of view, PhamaCare activities were unethical because it had the responsibility of carrying out thorough research before administering any drugs, provi ding decent working conditions to its employees and educating patients about the negative effects of the drug. Therefore, the fact that the company neglected its duties and received negative responses to activities carried out shows that it was unethical. PharmaCAREs actions with those of at least one (1) real-world company, whose corporateactivities led to ethical, environmental, or workplace synthetic rubber issues and financial loss.There are many examples of corporations that have been call out by the public on questions of ethics, environmental responsibility, workplace safety an d financial loss. There are six areas in particular where ethical issues arise in the organizations compensation conflicts of interest publications and solicitation financial integrity investment policies and duty and strategic management (Rhode & Packet, 2009). Some examples of outrageous unethical behavior by corporation the compare to PharmaCares actionsReferencesAndre, R. (2012). Assessing the ac countability of the benefit corporation Will this new graysector organization enhance corporate social responsibility?. ledger of Business Ethics ,110(1), 13-150. Retrieved from http//link.springer.com/article/10.1007/s10551-012-1254-1Arenson, K. (1995, June 23). ex-united way leader gets 7 years for embezzlement. New YorkTimes. Retrieved from http//www.nytimes.com/1995/06/23/us/ex-united-way-leader-gets-7-years-for-embezzlement.htmlBBC. (2009). Ethics guide. Retrieved fromhttp//www.bbc.co.uk/ethics/introduction/virtue.shtmlEntrepreneur, A. (2014, August). Social responsibility. Entrpreneur, 8(19),Retrieved fromhttp//www.entrepreneur.com/encyclopedia/social-responsibilityFitzgerald, J. (2009, January 28). Treasury gets touchwood Eyes financial bailout abuse. BostonHerald. Retrieved from http//bostonherald.com/Gilligan, C. (2011, June 11). ethics of care. Retrieved fromhttp//ethicsofcare.org/interviews/carol-gilligan//virtue.shtmlGriseri, P., & Seppala, N. (2010). Business ethics a nd corporate social responsibility. AustraliaSouth-Western Cengage Learning.Hines, C. (2001, ). Localisation a global manifesto. Retrieved fromhttp//www.trabal.org/courses/pdf/localization.pdfPanjabikesan, R. (2010). Stakeholders characteristics and types. Retrieved fromhttp//toostep.com/insight/stakeholderscharacteristics-and-typesRhode, D. & Packet, A. (2009, June). Ethics and nonprofits. Stanford Social Innovation Review,11, Retrieved from http//www.ssireview.org/articles/entry/ethics_and_nonprofitsSims, R., & Brinkmann, J. (2003). Enron ethics (or culture matters more than codes). Journal ofBusiness Ethics, 45(3), 243,252. Retrieved fromhttp//www.ssireview.org/articles/entry/ethics_and_nonprofits