Business Essay On Morality And Ethics In Corporate World Today

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Ethics and Corporate Responsibility in the Workplace and the World

... 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......

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Ethics and Corporate Responsibility in the Workplace and the World

...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......

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Morality and Ethics in Corporate World

...In the business world, both ethics and morals are a requirement in the corporate world. Employees are face with moral and ethical issues each day people behave differently because they have their own special set of morals. This essay will discuss the differences between ethical and moral issues, the differences between personal and business ethics as well as provide examples of common ethical problems in business for each of the abovementioned ethics.  An ethical issue when there is a conflict. In addition, a person’s personal ethics deals with he or she personally believes to be right or wrong. For example, a co-worker possing a fair with another co-worker, which against the company’s code of ethics and the spouse raises the question of his or her fidelity. The person believes there is no wrong with fidelity. At times ethical and moral clashes because everyone has different morals, obligations, and views are often ethical issues in the workplace or home.  A moral issue is difference between right and wrong. For example, a co-worker has committed a crime by stealing food out of the freezer. The moral issues, do you report to your supervisor or not? In the business world, some co-workers will ignore the situation because not all situations are not easy resolve. As employees, there are guidelines and standards expected to follow if he or she decides to stay employed.  Personal and business ethics are differing. Personal ethics depends highly on personal beliefs and......

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Ethics and Corporate Responsibility in the Workplace and the World

...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...

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Ethics and Corporate Responsibility in the Workplace and the World

...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......

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Ethics and Corporate Responsibility in the Workplace and the World

...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......

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Morality and Ethics in Corporate World

...Ethical Principles in the Corporate World By: Brian Renshaw Courtney Kubat Stephanie Angellotto IFMG 300 B04 Abstract Ethical issues are an area of the corporate world that most businesses deal with on a regular basis. The importance is growing with the continuous development of technology. Companies need to be aware of ethical obligations of their products and decisions. Privacy is a problem that occurs due to the fact that companies can access individuals’ information on the history of the websites a person has visited to develop customer trends through cookies, web bugs, and other means. Following ethical principles is essential to keep corporations on top and away from any negative consequences that unethical practices may lead to. This paper will look at different areas of ethics involved in the corporate world, such as, privacy, technological trends, and liability, as well as several other important areas. Introduction The importance of ethics in business is growing as firms become more dependent on information systems. The consequences of unethical behavior can cause harm to the company and society. Scandals like Enron, Arthur Anderson, and WorldCom had a devastating impact on the people that depended on those companies. The ease of Information Systems has caused concern that employees may be tempted to use unethical behavior. Technology can give a company access to information of a user without the user’s knowledge. Increased......

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Ethics and Corporate Responsiblility in the Workplace and the World

...Ethics and Corporate Responsibility in the Workplace and the World Introduction PharmaCARE (We CARE about YOUR health®) is one of the world’s most successful pharmaceutical companies, enjoying a reputation as a caring, ethical and well-run company that produces high-quality products that save millions of lives and enhance the quality of life for millions of others. The company 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. PharmaCARE recently launched a new initiative, We CARE about YOUR world, pledging its commitment to the environment through recycling, packaging changes and other green initiatives, despite the fact that the company’s lobbying efforts and PAC have successfully defeated environmental laws and regulations, including extension of the Superfund tax, which was created by Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA). Based in New Jersey, PharmaCARE maintains a large manufacturing facility in the African nation of Colberia, where the company has found several “healers” eager to freely share information about indigenous cures and an abundance of Colberians willing to work for $1.00 a day, harvesting plants by walking five (5) miles into and out of the jungle carrying baskets that, when full, weigh up to fifty (50) pounds. Due to the low standard of living in Colberia, much of the......

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Ethics in the Corporate World

...Ethics in the Corporate World ACC 557 Financial Accounting January 26, 2014 In today’s society, it seems that most companies are out to chase the almighty dollar and have little to no concern for the repercussions of their actions. In this paper, we will address five aspects of the corporate world and the ethical breaches that have been made in the last few years. The company that we will look at for examples is WorldCom. WorldCom was one of the companies that led to the creation of the Sarbanes-Oxley Act of 2002. The five questions that we will address in this paper are: 1. Is current business and regulatory environment more conducive to ethical behavior? 2. What impact was done to WorldCom because of the accounting ethical breach? 3. How was WorldCom caught and how they failed to be ethical? 4. What accounts were impacted and the resulting impact on operations? 5. What measures could have been taken to prevent this breach? The first thing that we will do is to describe how WorldCom came to be one the biggest companies in the telecommunications industry. WorldCom began in 1983 in Clinton, Mississippi as a long distance company called Long Distance Discount Services. As a result of several mergers that began in 1985 after the board elected Bernie Ebbers as the company CEO, the company grew by leaps and bounds. On November 4, 1997, WorldCom and MCI Communications announced their $37 billion merger to form MCI WorldCom, making it the largest......

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Ethics and Corporate Responsibility in the Workplace and the World

...the PhRMA board. PharmaCARE recently launched a new initiative, We CARE about YOUR world®, pledging its commitment to the environment through recycling, packaging changes and other green initiatives, despite the fact that the company’s lobbying efforts and PAC have successfully defeated environmental laws and regulations, including extension of the Superfund tax, which was created by Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA). Based in New Jersey, PharmaCARE maintains a large manufacturing facility in the African nation of Colberia, where the company has found several “healers” eager to freely share information about indigenous cures and an abundance of Colberians willing to work for $1.00 a day, harvesting plants by walking five (5) miles into and out of the jungle carrying baskets that, when full, weigh up to fifty (50) pounds. Due to the low standard of living in Colberia, much of the population lives in primitive huts with no electricity or running water. PharmaCARE’s executives, however, live in a luxury compound, complete with a swimming pool, tennis courts, and a golf course. PharmaCARE’s extensive activities in Colberia have destroyed habitat and endangered native species. In preparation for this assignment, use the Internet or Strayer Library to research companies that have recently experienced negative consequences as a result of the company’s corporate activities. Write a six to eight (6-8) page paper in which......

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Ethics in Corporate World

...Ethical Principles in the Corporate World By: Brian Renshaw Courtney Kubat Stephanie Angellotto IFMG 300 B04 Abstract Ethical issues are an area of the corporate world that most businesses deal with on a regular basis. The importance is growing with the continuous development of technology. Companies need to be aware of ethical obligations of their products and decisions. Privacy is a problem that occurs due to the fact that companies can access individuals’ information on the history of the websites a person has visited to develop customer trends through cookies, web bugs, and other means. Following ethical principles is essential to keep corporations on top and away from any negative consequences that unethical practices may lead to. This paper will look at different areas of ethics involved in the corporate world, such as, privacy, technological trends, and liability, as well as several other important areas. Introduction The importance of ethics in business is growing as firms become more dependent on information systems. The consequences of unethical behavior can cause harm to the company and society. Scandals like Enron, Arthur Anderson, and WorldCom had a devastating impact on the people that depended on those companies. The ease of Information Systems has caused concern that employees may be tempted to use unethical behavior. Technology can give a company access to information of a user without the user’s knowledge. Increased technology...

Words: 5531 - Pages: 23

Ethics and Corporate Responsibility in the Workplace and the World

...Assignment 3: Ethics and Corporate Responsibility in the Workplace and the World 6-8 Pharma CARE (We CARE about YOUR health®) is one of the world’s€™s most successful pharmaceutical companies, enjoying a reputation as a caring, ethical and well-run company that produces high-quality products that save millions of lives and enhance the quality of life for millions of others. The company 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. Pharma CARE recently launched a new initiative, We CARE about YOUR world®, pledging its commitment to the environment through recycling, packaging changes and other green initiatives, despite the fact that the company€™s lobbying efforts and PAC have successfully defeated environmental laws and regulations, including extension of the Superfund tax, which was created by Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA). Based in New Jersey, Pharma CARE maintains a large manufacturing facility in the African nation of Colberia, where the company has found several “healers” eager to freely share information about indigenous cures and an abundance of Colberians willing to work for $1.00 a day, harvesting plants by walking five (5) miles into and out of the jungle carrying baskets that, when full, weigh up to fifty (50) pounds. Due to the low standard of living in Colberia, much of the......

Words: 491 - Pages: 2

Ethics and Morality in the Corporate World

...adfh JIS S e c 3 (1 ) 2 0 0 7 Journal of Inform ation System Security w w w.jissec.o rg Ethics and Morality - a business opportunity for the Amoral? Ian O. Angell Professor of Information Systems Information Systems Department London School of Economics and Political Science London, United Kingdom Preamble It is common for speakers at computer security conferences to tell audiences that 'they should do' this, and 'should do' that. The word 'should' is regularly thrown about as some jumbled-up mixture of efficiency and ethics, without any justification of the imperative. This paper will concentrate on the ethical issues, and so it will quickly dispose of 'efficiency,' leaving detailed argument for another time. Then, taking the devil's advocate position, it will focus on demolishing the certainty behind the ethical obligation, by questioning the role of ethics in society in general, but specifically in computer security. Indeed this paper will claim that an unsuspected morality and ritual lies behind many real-world security choices and much so-called 'objective' academic analysis. Furthermore, it will propose that such moralistic positions are highly problematic, and that all recommendations phrased in terms of virtue rather than pragmatism be treated as highly suspect. This polemical paper formed the basis of a keynote address given at the 5th Computer Security Conference, held in Las Vegas on the 20th-21st April 2006. 4 Angell,......

Words: 6215 - Pages: 25

Ethics and Corporate Responsibility in the Workplace and the World

...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,......

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Ethics and Corporate Responsibility in the Workplace and the World

...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 address immediately is the human rights issues associated with their work force in Colberia. They currently treat their indigenous works with little regard, low pay and harsh working and living conditions; while catering to their executives with luxury billeting, and other recreational luxuries. Not addressing these issues immediately will ruin PharmaCARE’s reputation globally, leave room for competitors to capitalize Phar maCARE’s shortcomings, and eventually cut into corporate profits if lawsuits from human rights violation come into play. The first recommendation is by far the easiest to tackle. PharmaCARE has paid indigenous workers’ wages based on what they were willing to accept. In this case they are only paying workers $1.00 per day; which is outrageous given the profits that they receive from the efforts of this labor pool. It is recommended that PharmaCARE increase salaries from the daily rate of $1.00, and move to an hourly rate of $0.45. This increases the daily rate by $2.60. While this is still very low in relative terms compared to wages in the U.S. it allows an increase without turning totally upsetting the current economy. Any increase higher than that amount would produce severe,......

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Morals, Values, and Ethics Essays

478 Words2 Pages

Morals, Values, and Ethics Morals, values and ethics define who we are and what we believe. Culture, religion, and many other things affect our beliefs. One uses various types off ethics when surrounded by different groups. Knowing between right and wrong is a good foundation to practicing good ethics and morals. These things make morals, ethics, and values important in society. Many things can contribute to what you think is morally right or wrong. Religion, for example, may create a barrier on to what extent you do something. Some religions set rules, or guidelines on which they limit what people do. Cultures, as well, contribute to people’s decisions. Many times our values and ethics disagree with different people who hold different…show more content…

This doesn't mean our values or ethics are wrong it just means we think differently than others. When surrounded by different groups, one uses various types of ethics. For example when one is surrounded by friends and brothers or sisters one forgets what on was taught by our elders about manners and about being courteous, but when dealing with elders or a superior, certain carefulness is necessary. One cannot just say anything that pops out into one’s head, because one can be judged accordingly and would be thought to be vulgar or disrespectful. We develop many values and ethics through past experiences whether it is a positive or negative experience. These thoughts and beliefs are what guide us through our life. Knowing between right and wrong is a good foundation to practicing good ethics and morals. In today's world, individuals can make a single decision that can have an extreme positive or negative effect on their family, their employer, a nation, and even on the entire world. The life we lead reflects the strength of our character. For example, if we choose to steal, instead of earning it that makes one of weak character or morals. Like in The Pardoner’s Tale from Chaucer, “ greed is the root of all evil.” Ethics are different for each person, but for the most part, people want to be known as a good person. One wants to be known as someone who can be trusted, and one is concerned about his or her relationships

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