...Ethics and Corporate Responsibility in the World and in the Workplace Shakahn D. Montgomery LEG 500 Professor Natalie Chavis Due May 18, 2015 Stakeholders A stakeholder is person, group or organization that has interest or concern in an organization. Stakeholders can affect or be affected by the organization's actions, objectives and policies. Some examples of key stakeholders are creditors, directors, employees, government (and its agencies), owners (shareholders), suppliers, unions, and the community from which the business draws its resources. Not all stakeholders are equal. A company's customers are entitled to fair trading practices but they are not entitled to the same consideration as the company's employees. An example of a negative impact on stakeholders is when a company needs to cut costs and plans a round of layoffs. This negatively affects the community of workers in the area and therefore the local economy. Someone owning shares in a business such as Microsoft is positively affected, for example, when the company releases a new device and sees their profit and therefore stock price rise. (www.businessdictionary.com/definition/stakeholder.htm, n.d.) The stakeholders of PharmaCare include the customers they provide medicine for, the community, the sponsors along with the CEO and other employees. All of these people are affected by the decisions of the organization along with their actions, objectives and policies. Human Rights PharmaCare’s initiative...
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...Assignment Ethics and Corporate Responsibility in the Work Place and the World Legal 500 Law and Ethics 08/30/2013 Abstract 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 discussing management’s requirements to abide by regulations governed by the Occupational Safety and Health Administration, Federal Drug Administration, Environmental Protection Agency, Equal Employment Opportunity , Comprehensive Environmental Response Compensation and Liability Act and other regulatory policies. The stakeholders within PharmaCARE are all the individuals and groups that are affected by the company’s decisions. The employees that may suffer from the lack of environmental safety or abuse of the production location allowing the organization to payless to workers for their hard work. The consumers of the organization’s products that may purchase bad goods that cause a negative reaction. The investors and stockholders who will lose any monetary investment due to the company’s loss of profits which would be an effect of inappropriate management of the organization. Due to the inappropriate management...
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...Ethics and Corporate Responsibility in the Workplace and the World Contrenia L. Fluker Professor Steven D. Bond Law, Ethics and Corporate Governance (LEG 500) May 19, 2014 Determine all the stakeholders in this scenario. A stakeholder is defined as a person, group or organization that has interest or concern in an organization according to BusinessDictionary.com. The stakeholders in this particular scenario are PharmaCARE, a successful pharmaceutical company, CompCARE, a subsidiary of PharmaCARE, Wellco, a large drugstore chain, the employees of the various companies, the African nation of Colberia and its people, the medical community and the consumers of the products. Analyze the ethics of PharmaCARE’s treatment of the Colberia’s indigenous population and its rank-and-file workers versus that of its executives. Rank-and-file employees are the lifeblood of organizational success. Without rank-and-file employees, many companies' production levels would dwindle to nothing because rank-and-file employees often are solely responsible for turning out the products that companies sell (www. smallbusiness.chron.com). This is what the Colberian people brought to PharmaCARE. The “healers” were willing to share information about indigenous cures and an abundance of Colberian willing to work for $1.00 a day by harvesting plants walking five miles in and out of the jungle carrying baskets that weigh...
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...Ethics and Corporate Responsibility Legal, Ethics, and Corporate Governance Jekilan Hill-Barrett Professor Weekley November 23, 2014 Ethics and Corporate Responsibility The stakeholders within PharmaCARE are all the individuals and groups that are affected by the company’s decisions. The employees that may suffer from the lack of environmental safety or abuse of the production location allowing the organization to payless to workers for their hard work. The consumers of the organization’s products that may purchase bad goods that cause a negative reaction. The investors and stockholders who will lose any monetary investment due to the company’s loss of profits which would be an effect of inappropriate management of the organization. Due to the inappropriate management employees may lose their jobs which effects them as the stakeholders of the organization. PharmaCARE 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 has saved millions of lives and enhanced the quality of life of others. This company also offers discounted and free drugs to low income consumers. PharmaCARE’s ethics can be truly questioned due to its many wrong doings that have gone against to they’re established ethical values. To start off, this company maintains a large manufacturing facility in Colberia, Africa. Here the company has found several healers eager to freely...
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...Business Ethics and Corporate Responsibility Introduction Corporate Responsibility or Corporate Social Responsibility (CSR) has been a term coined in the previous century in order to define the social responsibilities of corporate heads and their corporations in securing the trust of its community by determining and fulfilling its roles towards the betterment of society. Simply following the rules set down by legislation would not do; corporate authorities and workers alike were demanded to be ethically inclined and considerate of how their actions affect society in general, both as residents and providers within their immediate communities. But both ethics and responsibility are vague terms, and prior to the 19th to 20th centuries, neither of them has been attached to business entities like corporations. Business ethics and corporate responsibilities, then, are much vaguer terms in that they entail more than simple and faithful provision of goods and services to people; some may even think that corporate giants and ethics do not exactly go together, or even share a superficial partnership. But these revolutionary concepts have played a major role in redefining corporations in the 21st century; these conceptual standards remain strong factors towards corporate determination of company action and assessment of overall company performance today. This paper will discuss business ethics and corporate responsibilities as sister terms, but also as discrete concepts, both of which...
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...stakeholders of PharmaCARE; success or failure could be the difference between prosperity and poverty for Colberia. This is also true of PharmaCare’s regular employees and management; success or failure could mean loss wages, or bonuses. 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 PharmaCARE’s shortcomings, and eventually cut into corporate profits if lawsuits from human rights violation come into play. The...
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...Corporate social responsibility and Ethics Corporate social responsibility Sandvik Coromant tries to the best of its ability to be responsible and work in accordance with the way it act, e.g. with sustainability both on a global and local level. It work according to the Sandvik code of conduct. This includes social, employee, equal opportunities, health and safe, management system and sponsoring. Social responsibility Being a global company increases the importance of social responsibility, since there are great public concerns about the impact of these companies' activities on home and host countries. For Sandvik, the most important aspect is the responsibility it assume for its employees and their work environment. Respect for human and labor rights is essential for Sandvik. It has the same corporate policies, expressed in its Code of Conduct, at all units and strive to develop equal standards. It is also Sandvik's policy to establish and maintain appropriate procedures to evaluate and select major suppliers and subcontractors on their ability to meet the requirements of its Code of Conduct. Sandvik's social objectives are to provide working conditions that stimulate employees to perform effectively assume responsibility and continue to develop in their personal and professional pursuits. Equal opportunities shall always be provided. Employees Sandvik's most important asset is its employees. The company has about 50,000 employees worldwide. There is huge...
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...Business Ethics and Corporate Social Responsibility Business Ethics and Corporate Social Responsibility The Business Ethics and Corporate Social Responsibility (CSR) article focuses on the dilemma between business ethics and social responsibility in business organizations. Issues related to social responsibility and sustainability are becoming more important in today’s economic and social environments, especially in the business sector. The article makes the case that ethics and the corporate responsibilities are inter-related. “Business goals are inseparable from the societies and environments with in which they operate.” The author states three reasons why social responsibility and business ethics are important: 1) People want to buy from ethical businesses. Companies have to satisfy their customers and achieve their main goal of earning a profit. 2) People want to work for ethical businesses. Employees in ethical businesses are more likely to work harder for the same or sometimes less pay than their “cut-throat counterparts. 3) People want to partner with ethical businesses. Businesses partner with socially responsible and ethical businesses more frequently than other less socially responsible organizations. The article concludes that many organizations are aware of the critical need for ethics in their business culture; however, there is still room for improvement. “Progress is limited by the reality that CSR remains a purely voluntary, self-regulated...
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...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...
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...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...
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...Essay on “Corporate Social Responsibility and Ethics” Social responsibility is an idea that has been of concern to mankind for many years. Over the last two decades, however, it has become of increasing concern to the business world. This has resulted in growing interaction between governments, businesses and society as a whole. In the past, businesses primarily concerned themselves with the economic results of their decisions. “Today, however, businesses must also reflect on the legal, ethical, moral and social consequences of their decisions” (Anderson 15). This paper will discuss the concept of corporate social responsibility. It will give the definition of the phrase, and identify some of the global factors that necessitate corporate social responsibility. It will discuss the importance of corporations setting up corporate social responsibility projects, and the impact these have on society. Social corporate responsibility and the maintenance of high ethical standards is not an option but an obligation for all business. Corporate social responsibility is no longer defined by how much money a company contributes to charity, but by its overall involvement in activities that improve the quality of people’s lives. Corporate Responsibility has come up as a significant subject matter in the international business community and is progressively becoming a mainstream activity. There is mounting recognition of the momentous effect the activities of the private sector have on the...
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...|BUSINESS ETHICAL BEHAVIOR & CORPORATE SOCIAL RESPONSIBILITY | | | |Student’s Name:Renee Giordani | | | |Course Title:Sales Management | | | |Professor:Gene Dichiara | | | |SUNY EMPIRE STATE COLLEGE | | | |Date: December 09, 2014 | Business Ethical Behavior & Corporate Social Responsibility: Why Organizations Must Have IT Corporate Social Responsibility has gradually developed into one of the greatest ethical aspects that have to be adhered...
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...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...
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...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...
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...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...
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