...Ethics and corporate Responsibility in the Workplace and the World Mary May Professor Christina Williams Ethic, Law and Compliace August 25, 2014 Ethics and Corporate Responsibility In the Workplace and World Key Characteristics of Stakeholders A stakeholder is a person, group, or an organization that has an interest or concern in an organization or a company. A person who is directly or indirectly affected by the functioning of a company is a stakeholder. Stakeholders are directors, employees, creditors, government and its agencies, shareholders, owners, unions, suppliers, and the community from which the business draws its resources. Stakeholders can be affected by the organization’s objectives, policies and actions. A company’s customers are entitled to fair trading policies; they are not entitled to the same consideration as the company employees. Key characteristics of stakeholders include knowledge of the business or policy, interest related to the policy or business, position for or against the business policy, and potential alliance with other stakeholders, and the ability to affect the policy process (through power and/or leadership). The stakeholders in the PharmaCARE scenario are the healers in the African nation of Colberia, PharmaCARE’s executives, and Colberians who work in the manufacturing company. Human Rights Issues by PharmaCARE Human rights are rights inherent to all human beings, whatever our nationality, place...
Words: 1650 - Pages: 7
...Ethics and Corporate Responsibility in the Workplace and the World Ethics and Corporate Responsibility in the Workplace and the World In recent 0years, most companies are striving to become a benefit corporation (B-corporation). This legal form of corporation is to provide legal protection to management that want to both maximize shareholder income and pursue a social or environmental agenda (Andre, 2012). This paradigm shift is due to consumer’s awareness, global warming and globalization in the business world. All global companies have developed ethical, environmental and sustainability policies for their employees, suppliers, contractors and other stakeholders to follow. This paper will examine PharmaCare’s ethical and social responsibility around its operations, products, and obligation to stakeholders. PharmaCare, a renowned fortune 500 pharmaceutical company listed on the NASDAQ is one of the companies that have all these initiatives in place. It is considered one of the most ethical and social responsible companies in the world due to many initiatives it takes to commit to its responsibility to protect the environment and enhance the quality of life for millions around the world. The stakeholders in PharmaCare’s global operation are employee, suppliers, shareholders, government, communities, consumers, physicians, healthcare facilities, and the African nation of Colberia. PharmaCare has a legal obligation to all of these stakeholders. Below are some of the reasons...
Words: 2849 - Pages: 12
...Ethics and Corporate Responsibility in the Workplace and the World A Case Study of PharmaCARE Institution: Strayer University The stakeholders in this scenario include 1. The company, namely PharmaCARE which has a subsidiary known as CompCARE in Colberia. 2. WellCo which is the company that has purchased CompCARE 3. The employees of CompCARE 4. The indigenous population of Colberia 5. The government and regulatory agencies of Colberia. Analyzing the ethics of PharmaCARE’s treatment of the Colberia’s indigenous population and its rank-and-file workers versus that of its executives. We define business ethics as the principles and values that define acceptable conduct for business institutions. Acceptability of corporate behavior will be determine by workers, customers, competitors, government and regulatory agencies, special interest groups, and the community (Andersen, 2004). Several firms have faced legal suits due to the manner in which they have treated the public, workers, consumers, and the environment during their business activities. For instance, the competition bureau of Canada found Azko Nobel Chemicals BV guilty and they were charged in the federal court of Canada on August 18, 2003. The company had taken part in a conspiracy to fix market prices for a crucial food additive that was an essential ingredient for an important animal feed and a chemical use that was in several commercial and consumer products. The company was fined $2.9 million by the...
Words: 1982 - Pages: 8
...PharmaCARE: Ethics and Corporate Responsibility in the Workplace and the World PharmaCARE: Ethics and Corporate Responsibility in the Workplace and the World In any type of business or organization there are ethical issues, conflicts, and successes revolving around relationships. It is those relationships considered one of the key areas of making the business function. The relationships between customers, the employees, managers, supervisors, shareholders, investors and suppliers all shape the course of the business in order for it to be successful. In addition, an organization usually has a governing authority; called a board of directors, which provides oversight and guidance to make sure that the organization keeps focused on objectives in a legal, ethical and socially acceptable manner. Often unethical acts are discovered in organizations; therefore, relationships are not only associated with organizational success but also with organizational misconduct. ("An overview of," 2006) As in the case with PharmaCARE, there were multiple unethical issues due to bad decision making within the company; decisions that affected employees, business partners, and customers. As a result, its stock price plummeted. Stakeholders are those who may be affected by or have an effect on an effort. Most ethical issues exist because of conflicts in values and belief patterns about right and wrong between and within stakeholder groups. There are three types of stakeholders: * Primary stakeholders...
Words: 2255 - Pages: 10
...Ethics and Corporate Responsibility in the Workplace and the World Mohammad Hawari Dr. Andrea Brvenik Strayer University Aug.18th.2014 Introduction PharmaCare is a national pharmacy management, staffing, and consulting company , PharmaCare is caring of producing drugs and improve of quality of life . The company offers free and discounted drugs to low-income consumers, has a foundation that sponsors healthcare educational programs and scholarships, PharmaCare located in San Antonio, With a corporate-based professional staff consisting of Clinical and Licensed Pharmacists, Certified Pharmacy Technicians and Pharmacy We could define Stakeholder meaning and principle by stakeholder theory which is saying that organizations are collections of several different parties, each with its own goals and objectives. While the goals of some parties may be in competition with the others, each party has an interest in the organization succeeding. The key to the organization’s success depends on bringing these disparate objectives and parties together to create the maximum benefit for all involved. Stakeholders included an organization’s managers and its stockholders. From a perspective of “who benefits or who is affected by the organization?” stakeholders also included suppliers who benefitted from their sales to the organization, workers who valued their jobs and customers who bought whatever services or product the organization delivered. Other stakeholders included the government...
Words: 1582 - Pages: 7
...Assignment 2: Ethics and Corporate Responsibility in the workplace and the World. LEG. 500: Law, Ehics & Corp. Governance Amy Gray Professor Weekly November 24, 2013 All Stakeholders in this scenario are PharmaCARE, CompCARE, WEllCO, Donna, Tom, Ayesha, Allen and Consumers. PharmaCARE is one of the world’s leading pharmaceutical companies. They specialize in servicing low income consumers who with high quality products. PharmaCARE is based out of New Jersey with a manufacturing plant in Africa. CompCARE is the subsidiary company that PharmaCARE used to act as a pharmacy. CompCare benefited from the great reputation that PharmaCARE had as a successful pharmaceutical company. WellCO was a large drugstore chain that purchased CompCARe and began to see the effects of the bad business decisions that PharmaCAre made. Donna was a PharmaCare employee whom had perfect attendance prior to becoming ill due the condition of the manufacturing plant. Tom was one of the supervisors of the plan whom threatened going to OSHA about the issues of the lab and condition of the workplace. Ayesha was an employee of PharmaCare whom had issues with being promoted to a supervisor. She filed an EEOC complaint related to religious discrimination. Allen was the manager of the plant and responsible for the condition of the plant. Allen chose to fire Donna, Tom & Ayesha to keep is potential bonus. Analyze the ethics of PharmaCARE’s treatment of the Colberia’s indigenous population...
Words: 1265 - Pages: 6
...Ethics and Corporate Responsibility in the Workplace and the World Law, Ethics, and Corporate Governance Professor Andrea Brvenik August 16, 2014 Stakeholders & PharmaCARE Stakeholders take on many forms and guises depending on the context of the business. Experts write personal definitions and musings on what they feel a stakeholder is, while others disagree and have their own, sometimes conflicting personal findings. It has been my experience that the terms ‘stakeholder’ and ‘stock/shareholder’ are often used as synonyms, but there is are important distinctions that must be made. According to Investopedia, a website dedicated to investing education, a shareholder is: “Any person, company or other institution that owns at least one share of a company’s stock. Shareholders are a company's owners. They have the potential to profit if the company does well, but that comes with the potential to lose if the company does poorly. A shareholder may also be referred to as a "stockholder" (Shareholder, 2014). For the purposes of this research paper, I will attempt to convey my understanding of a stakeholder through the lens of Gary Heerkens’ book, “Project Management”. Though the definitions vary, there are several ‘tenants’ that comprise the meaning of a stakeholder. Any of the following may make an individual a stakeholder: • Stands to gain or lose through the success or failure of the project • Provides funding for the project • Has invested resources...
Words: 2411 - Pages: 10
...Teamwork and Motivation Frankie Rios Strayer University Dr. Laura Poluka BUS 520 Leadership and Organizational Behavior February 24, 2014 The small company manufacturing the WooWoo product has been engulfed in manufacturing issues such as high defects which are increasing costs and delaying delivery. It has been decided that an organizational motivation plan is key to resolving these issues. The following motivation plans strategy is to encourage high job satisfaction, low turnover, high productivity and high-quality work. According to Schermerhorn J., Osborn R., Hunt J. & Uhl-Bien M. (2012), motivation are “forces within the individual that account for the level and persistence of an effort expended at work”. First and foremost, the goals and strategy of the company need to be aligned to tasks for the managers and staff. The tasks will be broken into subtasks and assigned to the departments. A virtual group will be established to brainstorm and tackle the problem of defects. The job characteristics model will be utilized to improve job satisfaction which in turn will minimize the turnover of employees. Increase in productivity and high-quality work will be emphasized through an implementation of a merit and feedback system. One brainstorm session will be comprised of managers. This session will have two deliverables, what motivates their employees and how can we minimize the current defect rate of our product. The second brainstorm session will be comprised of staff...
Words: 948 - Pages: 4
...Key Stakeholders Depending on the company or marketing being considered, a stakeholder can have many different characteristics. Generally, a stakeholder is a person, group or organization that has interest or concern in an organization. Some of the characteristics that might be common to all stakeholders is they stand to gain or lose through the success or failure of the company; they are affected by the output of the company; or the company may be otherwise accountable to this stakeholder. PharmaCARE has several stakeholders that will continue to watch their progress in Colberia. The primary stakeholders are its shareholders/stockholders who will always seek a return on their investment (ROI). Every decision PharmaCARE makes will either increase or decrease RIO; this can be in the long-term or the short-term. PharmaCare additionally need to be concerned with opinions from members of Capitol Hill. Since they have a strong lobby, members of the Hill will be very interested any progress, or lack of progress that PharmaCARE makes regarding the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA). Communities and the indigenous works within Colberia are also stakeholders of PharmaCARE; success or failure could be the difference between prosperity or poverty for Colberia. This is also true of PharmaCare’s regular employees and management; success or failure could mean loss wages, or bonuses. Human Rights Issues One of the areas that PharmaCARE should...
Words: 1645 - Pages: 7
...LEG500 Assignment 3 - Ethics and Corporate Responsibility in the Workplace and the World Introduction It is the responsibility of companies today to promote responsible business practices at every level of the company. Business should be conducted ethically and honestly. Companies should also foster environments that promote ethical conduct and comply with all requirements of the law that they fall under. This paper will examine the ethical practices of Pharmacies. Stakeholders will be identified, and several scenarios will be evaluated and critiqued. Who are the stakeholders of the Pharmacies co? What are their key characteristics? The stakeholders in this scenario include Pharmacies, a successful pharmaceutical company, Comp CARE, a subsidiary of Pharmacies, Well co, a large drugstore chain, the employees of the various companies, the African nation of Colberia and the Colberians. All of these stakeholders have a stake in the outcome. Stakeholders include people living with disease or illness, scientific and clinical experts representing Better Pharmacare Coalition member organizations. ” BC Pharmacies, together with these and other stakeholders as required, should define the process of decision-making from beginning to end” (http://www.betterpharmacare.org/about-corevalues.cfm). Pharmacies stakeholders include patients and patient groups, community and hospital pharmacists, physicians, the College of Pharmacists of B.C., the College of Physicians and Surgeons of B...
Words: 2220 - Pages: 9
...Assignment 3 Ethics and Corporate Responsibility in the Workplace and the World By Grace Robinson Legal 500 Law Ethics & Corporate Governance Professor Dr. Michael T. Hanners 2/22/15 Introduction PharmaCARE is a very successful pharmaceutical company; based in New Jersey. It is known for having a caring reputation, and being an ethical and well-run company that produces life-saving; high-quality products. The company is known for caring because the business offers free and discounted drugs to low-income consumers, has a foundation that sponsors healthcare educational programs and scholarships, and its CEO serves on the PhRMA board. Recently, PharmaCARE launched a new initiative; We CARE about YOUR world®. This action pledged its commitment to the environment through recycling, packaging changes, and other green initiatives. However, the company’s lobbying efforts and Political Action Committee (PAC) have successfully defeated environmental laws and regulations. They now maintain a large manufacturing facility in the African nation of Colberia. In Colberia, the company benefits from the free information on alternative methods of healing. PharmaCare repays the natives by offering the Colberians jobs that pay $1 a day. The duties consist of harvesting plants by walking five miles into and out of the jungle carrying baskets that can weigh up to fifty pounds. After working a long hard day for $1, these same workers return to their primitive huts with no electricity or...
Words: 1759 - Pages: 8
...In this paper, I will discuss how social responsibility and ethics interacts with the business world. I will discuss different styles to management ethics, the benefits companies will find from acting ethical and socially responsibly and some examples of unethical behavior in the workplace. I will also look at social responsibly and its benefits, as well as give my opinion on both topics. Businesses have always been known to shoot for maximum profits in order to please both those inside and outside their company. However, the concept of business ethics and social responsibility has put principled boundaries on organizations so that they cannot achieve their profit goals in any way they please. In order for a company to function within today’s global business society, they must be able to take a strong stance ethically on how they are going to sell their products and conduct their everyday work activities. Alongside being ethical, companies must also take on social responsibility; showing their community that they are involved, alert and willing to be philanthropists even in tough times. Corporate ethics and social responsible, if overlooked, can be detrimental to an organizations outward appearance and customer base. It is not only the right thing to do, but it has always been seen as good business. Both business ethics and social responsibly, although different, play fundamental roles in an organization’s successes. Ethics can be defined as the study of standards...
Words: 3437 - Pages: 14
...PharmaCare was an upcoming established company well renowned for ethics and high quality products. The company even started a new initiative to go green and become environmentally friendly. During their honeymoon period they were believed to enhance the quality of life around the world. PharmaCARE thrived on research and capitalized on a new breakthrough of a diabetes drug that would help slow down the terrible infringement of Alzheimer’s. Over the course of a few years, PharmaCARE set up a sister company called CompCARE to be the compounding pharmacy to manufacture this new drug AD23. It became a mass hysteria to get this drug which pushed CompCARE into methods outside the scope of what a compounding pharmacy is authorized to do. Unfortunately all business practices began to push the limits, ethics were questioned, and in the end resulted in over 200 cardiac related deaths to this drug AD23. This is basically the rise and fall of PharmaCARE and how a corporation’s greed killed the hopes and dreams of many who hoped for AD23 to be a sign from god. Ethics and Corporate Responsibility in the Work Place and the World provides insight on who the stakeholders of an organization are and who takes on the overall responsibilities of the organization. The importance of the decisions made by mid-level management are discussed and answered. The ability to make changes to support a more ethical work environment. The ability to improve operations and turn a profit are explained by...
Words: 1349 - Pages: 6
...Ethical Decision Making in the Workplace James E. Gleason BUS 275-H01 Calhoun Community College Abstract Business leaders struggle to balance the desire for profit and maximum shareholder return with corporate ethics and social responsibility. Unfortunately, short-term financial bottom line has taken the place of maintaining strong moral character in today’s business practices. In the United States alone, about two-thirds of the top corporations have been guilty of some type of corporate malfeasance. In the face of both damaging and publicly embarrassing litigation, business leaders now recognize the need for sound, straightforward ethics management programs in their companies that makes ethical business practices a top priority at all times. Top executives must lead by example and actively and willingly encourage ethical behavior in their peers as well as employees. The need for stronger ethics in business has prompted business schools to critically examine their business curricula and place greater teaching emphasis on ethics and social responsibility to ensure future generations of new business graduates enter the workforce with the highest moral standards. Keywords: ethics, social responsibility, malfeasance, business schools, business curricula Managing Ethical Decision Making in the Workplace Introduction Ensuring that the necessary steps are taken to create and foster a high level of ethics in the business practices of the workplace is critically important regardless...
Words: 2351 - Pages: 10
...Ethics Behavior and Social Responsibility International Accounting Member of Group : 1. Rahmawati Yulistya C1I015026 2. Muhamad Ilham Akbar C1I015012 3. Astria Wulan P C1I015013 4. Siffa Sandi Sasmita C1I015025 5. Cita Husna Raisya C1I015026 6. Wulan Nilam Sari C1I015031 7. Karina Aprilia W C1I015037 8. Riyan Ardiyana C1I015043 Jenderal Soedirman University Faculty of Economics and Business I. Introduction I. Background Ethics Behavior and Social Responsibility Ethical behavior is that which is morally accepted as “good” and “right”. And opposed to “bad” and “wrong”. Social responsibility is a moral principle of an entity, be it an organization or individual, to act towards betterment of society at large. It is a duty that every firm and individual should perform so as to maintain the balance between the environment and economy. Their actions should lead towards sustainable development so as to safeguard the interests of the coming generations and at the same time fulfilling the needs of present population. The responsibility can be active, by performing activities that directly advance social goals, or passive, by avoiding any engagement in socially harmful act. Organizations can manage ethics in their workplaces by establishing an ethics management program. Brian Schrag, Executive Secretary of the Association for Practical and Professional Ethics, clarifies. “Typically, ethics programs convey corporate values...
Words: 2862 - Pages: 12
