The stakeholders in this scenario is the pharmaceutical company, CompCare, a subsidiary of PharmaCare, Wellco, a large drugstore chain, the employees of the various companies, the African nation of Colberia and the Colberians. PharmaCare company is running a successful business if ethics behavior on all scale is out of the equation. The company are able to find diligence workers in Colberia, who are willing to share information about indigenous cures located in the area. The Colberians are willing to walk five miles into and out the jungles carrying baskets up to 50 pounds. Also, they are willing to work $1.00 a day. Even though, this looks like highway robbery towards the Colberians; PharmaCare company are not forcing the opportunities of labor on them. Many people in the local area is enhancing their quality of life, for little money coming from the company. On the other hand, it is unethical for PharmaCare to help create social problems such as destroying the habitat and endangering the native species through extensive activities and business practices. It is amoral for PharmaCare to take advantage of the Colberia’s low standard of living and economic conditions. Most of the population lives in primitive huts with no electricity or running water. The people are simply trying to earn a living, and the executives are living in luxury with swimming pools, tennis courts and golf course. The question is, where does the line draw? Clearly, some Colberians know these extensive activities in their local area is destroying their habitat and the executives know as well. Allen cannot legally fire Donna, Tom or Ayesha. They are protected under the policy exception of the employee-at-will doctrine. The Director of Operatio... ... middle of paper ... ... due to the low standard of living in Colberia. This situation shows PharmaCare only cares about their profit margin and not practicing the standard of stewardship. Works Cited Global Corporate Forum. (2007). Whistleblowing: Recent Development and Implementation Issues. Issue 5 A Global Corporate Governance Forum Publication Retrieved from http://www.gcgf.org/wps/wcm/connect/d145190048a7e693a757e76060ad5911/GCGF%2BPSO%2Bissue%2B5%2Bscreen.pdf?MOD=AJPERES. Halbert, T. &. (2012). Law & Ethics in the Business Environment. Mason, OH: South Western Cengage Learning. PharmaCare Services. (n.d.). Job Description Standards of Performance. Retrieved from http://www.pharmacareservices.com/PDFs/DirectorofPharmacy.pdf. United States Department of Labor. (n.d.). Building Operations and Management. Retrieved from https://www.osha.gov/SLTC/indoorairquality/building_ops.html.
Jennings, M. (2012). Business: Its ethical, legal, and global environment. (9th Ed.) Mason, OH: South-Western Cengage Learning ISBN: 978-0538470544
Large pharmaceutical industries are making large profits on medications. Having such a high cost for medication prevents patients from receiving the care that they need. These companies are overcharging for medications that are essential to maintaining the health of patients. This may result in patients resorting to desperate measure such as stealing, crime, and other illegal acts. The pharmaceutical industry may require a different set of moral standard because in a way these laws are preventing patients from a quality life. It is not ethical for pharmaceutical industries to make large profits on medications. Pharmaceutical industries that continues to make large profits from patients who needs their medication impairs their quality of life.
Large pharmaceutical industries are making big profits on medications because they charge high prices for profit. These pharmaceutical companies are overcharging for medications that are essential to maintaining the health of patients. Having such a high cost for medication prevents patients from receiving the care that they need. This may result in patients resorting to desperate measure such as stealing and other illegal acts. The pharmaceutical industry need to reevaluate their ethical standards because the way that these companies are going about pricing their drugs is preventing patients from living a health life. These profits come at an expense of people who depend on those medications to maintain a quality of life. It is not ethical
PharmaCARE is one of the world 's most successful pharmaceutical companies that is enjoying a status as a nurturing, ethical and well-run business that manufactured high-quality healthcare products. Thus, saved millions of inhabits and enhanced the value of life for millions of people. The company provides free and discounted pharmaceuticals to low-income customers on the base of sponsors health care informative programs and scholarships. Two years before, after PharmaCARE 's research identified that one of its peak trading diabetes drugs (AD23) might slow the progression of Alzheimer 's infection. After identifying the weakness, its pharmacists began reformulating that pharmaceutical to maximize the effect. To avoid FDA inspection, PharmaCARE used US law to protect its intellectual property as it established a wholly-owned subsidiary, CompCARE that is set up beside its parent’s headquarters in a suburban agency park.
Royal Pharmaceutical Society. (2013). Medicines, Ethics and Practice: the professional guide for pharmacists. (37th Ed.). London: Pharmaceutical Press.
In conclusion, pharmaceutical companies are extremely edacious and cold-blooded. Their profits numbers in the billion’s range while seniors are struggling to afford their prescribed drugs to survive. The pharmaceutical industry is strongly against Americans getting their prescriptions from Canada. Yet these people cannot help it; they are not financially secure to afford the drugs sold in America. The U.S. Government tries to isolate itself from the problem in order to make money from the taxes of prescriptions. However, almost every other country has some type of control over their pharmaceutical companies’ prices. In the future, with more and more drugs developed, only more and more money is going to be in need by the pharmaceutical industry. So unless something can be done soon, this war on drugs is only going to climb uphill. Yet how could these top-paid personnel understand what it feels like to be unable to afford prescription drugs in order to maintain a healthy body or even to stay alive? If there was an answer to that question, the dilemma of overpriced drugs might have a solution.
Has anyone noticed that there seems to be a drugstore being built on every corner these days? Revco, Walgreens, and Rite Aid seem to be just a few of the drug store chains that are expanding. One has to wonder if this has anything to do with the possibility of including medicine under coverage by healthcare systems. This means that they may become part of a capitated payment system to the pharmaceutical providers. "By capitation, we mean a prospective payment to physicians or providers - either individually or as a group - of a fixed amount of money to care for each patient (Pearson, 1998)." In other words, every physician is provided a set sum of money whether they see any patients or not and every pharmacy would be given money whether they prescribe any drugs or not. Drug costs will rise.
PharmaCare, while making its corporate decision should take into account not only its primary stakeholder, but secondary as well as tertiary stakeholders in order to be more productive for the business as well as the society and community. The company must assess the pay scale of the workers and revise it on the basis of labor and commute involved.
Fieser, J. & Moseley, A. (2014). Introduction to Business Ethics. San Diego, CA Bridgepoint Education, Inc.
Pharmacy is a booming field when it comes to medicine, but it certainly has controversial issues such as compounding drugs. While the practice of making drugs customized to a patient seems ethical, there are problems that come along with it. Drug compounding was the norm in the past, but over time consumers began to see issues with it. Drug compounding still occurs to this day because some patients do need medicine specifically tailored to their needs. Compounding has also been the focus of recent disasters, some of which occurred less than two years ago. Whatever side one may take on this issue, it is clear that compounding medicine will be a polarizing issue for years to come.
Jennings, M. (2009). Business ethics: Case studies and selected readings (6th ed.). Mason, OH: South-Western Cengage Learning.
3Walker, Hugh: Market Power and Price levels in the Ethical Drug Industry; Indiana University Press, 1971, P 25.
Ferrell, O., Fraedrich, J., & Ferrell, L. (2011). Business Ethics. Ethical Decison Making And Cases (pp. 72-74). Mason: South-Western Cengage Learning. (Original work published 2008)
...al responsibility. Pharma was selling their product in large quantities even though it was compounding pharmacie. CompCARE encouraged doctors to fax the list of the bogus patients. After the discovery that one of its products seemed to cause heart attacks, they ignored the complaints and still continued to file large orders instead of inspecting on the cause of the problem and to find ways to curb all that.. Their brand name and reputation cannot be recovered by going to their local store and getting another one.
Jennings, M. (2009). Business ethics: Case studies and selected readings (6th ed.). Mason, OH: South-Western Cengage Learning.