LEG 500 An Ethical Analysis(USE AS GUIDE ONLY)

LEG 500 An Ethical Analysis(USE AS GUIDE ONLY)

LEG 500 An Ethical Analysis(USE AS GUIDE ONLY)

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PharmaCARE:
An Ethical Analysis
LEG 500 – Law, Ethics &
Corp. Governance
The advancement of medicine has saved many lives. Many illnesses that were deemed
fatal in past years can now be cured with pills or medicinal injections. Pharmaceutical companies
like PharmaCARE have definitely assisted in prolonging our health and lives. In fact,
PharmaCARE has also done a great job taking care of the community. The company offers
discounted or free medicine to low income consumers, sponsors healthcare educational
programs, and has recently started a recycling campaign. However, the company has also
participated in dishonorable practices. It has lobbied against environmental laws and regulations,
and runs a manufacturing facility that is destroying the natural environment in Colberia, Africa.
The people of Colberia that toil for this facility endure poor work conditions and are paid the low
wage of $1.00 per day. Aspects such as stakeholders and ethics can be analyzed to fully
understand how dangerous PharmaCARE’s immoral endeavors can truly be.
A simply definition of a stakeholder is any party that has interest in an organization’s
affairs. Similar to most corporations, PharmaCARE’s stakeholders include employees, investors,
and customers. Neil Kokemuller (n.d.)even adds communities to the list. He supports his notion
by pointing out that “companies operate within communities, and their activities affect more than
just customers.” He adds,“communities also like to see businesses get involved in events and
local charitable giving.”
It can be said that a company
has reached nirvana if it can successfully fulfill its mission while keeping its stakeholders happy.
There is no exception when it comes to PharmaCARE. In many cases, however, this feat is a
challenge to accomplish. Often stakeholders’ interest do not align, and choices that are made to
please one group may displease another. For example, a company’s shareholders are focused on
maximizing profit. In order to meet this demand the company strives to keep operating costs low.
This, in return, could upset employees who do not get the raise they deserve.