...Assignment 3 Walterella S. McNear 24 November 2015 Professor Steve Harris LEG – Law, Ethics and Corporate Governance Strayer University Loading... 1. Describe the key characteristics of a stakeholder and determine all the stakeholders within the PharmaCARE scenario. PharmaCare wouldn’t be PharmaCare without stakeholders. Stakeholders are the people associated with a company who play a vital role in the company’s success. Stakeholders can be individuals, groups or organizations who have a financial interest in the company’s success. Some of a stakeholder’s responsibility could be to help decide on project or business decisions concerning the company. Stakeholders can be characterized into five different categories. As a supporter or opponent, they have interest in a project or they don’t have interest in a project. Primary and secondary stakeholders are in a different. In these classes they usually have a high interest in what happens with the company and are in most cases affected directly by these decisions. Internal and external stakeholders are the next class; in this case it is exactly what it says. External are outside people or groups with no internal ties to the company but have a financial interest in the company. Internal stakeholders are in some way directly connected to the company from an internal standpoint. The next class of stakeholders is classified as Direct and Indirect; direct stakeholders are usually affected by day to day company activities...
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...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 ROI; 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 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...
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...Introduction: PharmaCARE is the world’s leading successful pharmaceutical company offering low and sometimes free drugs to low income consumers. Its products have been known to save lives as well improve the quality of life to its customers. The company has recently launched an initiative to help protect and preserve the environment through green initiatives and recycling and proper packaging. Although based in New Jersey, the company offers a variety of locations and in this paper, I will be discussing the facility based in the African nation of Colberia and its impact on its indigenous people. Before we can dig deeper into the paper, we first need to determine the stakeholders and what role if any do they play in some of issues brought forth by the people. What is a stakeholder? A stakeholder is a person, group or organization that has interest or concern in an organization. In most cases, a stakeholder will have the interest for profit and less for community involvement. Stakeholders have a reputation for being greedy and out for money and minimize costs wherever they can.In our study today, the stakeholders would be all the executives living in Colberia, the CEO as well as any foreigner investors. In the paper, we will explore more the roles of a stakeholder and how they have impacted the local people in Colberia and how PharmaCARE has brought about any changes in living conditions and job security in the area. In our next discussion, we will take a look at how PharmaCARE can improve...
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...LEGAL AND ETHICAL CONSIDERATIONS 4 RUNNING HEAD: LEGAL AND ETHICAL CONSIDERATIONS IN MARKETING, PRODUCT SAFETY AND INTELLECTUAL PROPERTY LEGAL AND ETHICAL CONSIDERATIONS IN MARKETING, PRODUCT SAFETY AND INTELLECTUAL PROPERTY [Student Name] [Instructor’s Name] [Date] [Course Name] Introduction This paper is concern with legal and ethical issues in advertising, marketing, regulations and intellectual property of product safety with respect to PharmaCARE which is a pharmaceutical company. The paper includes the information regarding drug companies, Direct to Consumers (DTC) marketing. Next we will determine the role of Food and Drug Administration (FDA) in regulatory schemes of pharmacies and determine that whether FDA empower over compounding pharmacies. In this paper, I have to make decision about PharmaCARE that whether the company use of intellectual property of Colberia. After this, I will analyze PharmaCARE ways to use US laws to protect intellectual property to coop with intellectual property in Colberia. To compensate the people of suffered from damages due to usage of AD23 will be studied and different suggestions will be made to compensate them. In the end, three changes will be recommended to PharmaCARE to go forward ethically. 1-Ethical issues relating to marketing and advertising, intellectual property, and regulation...
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...PharmaCare Legal and Ethical Considerations LEG 500 Law, Ethics, and Corporate Governance December 7, 2014 PharmaCare Legal and Ethical Considerations Once again PharmaCare is under suspicion for their question acts and deeds. The businesses AD23 drug has allegedly linked to deaths and now everything will need to be reviewed to determine validity. Ethical issues relating to marketing and advertising, intellectual property, and regulation of product safety and examining whether PharmaCare violated any of the issues in question will be explored. Direct-to-consumer marketing (DTC), by drug companies is a strategy that will be argued either for or against in this paper. There are entities responsible for regulating compounding pharmacies under the current regulatory scheme. The actions that either of these entities or the Federal Drug Administration (FDA) could/should have taken will be explored along with whether PharmaCare could face any legal exposure surrounding its practices. The manner in which PharmaCare used the U.S law to protect its own intellectual property will be discussed, and if John the former employee has any claim as the true “inventor” of AD23. One real-world example of intellectual property theft will be examined and the effect to that company’s brand will be discussed. The issue surrounding John’s wife’s death and the other potential litigants against PharmaCare will be analyzed further as the result of AD23. Finally, both major arguments that John can...
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...1. Ethical issues relating to marketing and advertising, intellectual property, and regulation of product safety Ethical issues differ depending on the social code and daily morality. The fact that discussions on stem cell research, abortion, and consumer loyalty still invoke serious arguments proves that ethical issues are still of considerable concern and should be addressed. Most ethical issues including those in the business sector revolve around moral or principles of morality, right, and wrongful actions, expressions of moral approvals in reference to principles of conduct generally viewed as correct by individuals in a particular profession or group. In the business world, ethical issues arise from advertising, personal selling, suppliers, contracts, and pricing. Some examples of ethical issues relating to business activities arise from market research, market audience, and pricing. Market research that invades the privacy of customers or research conducted based on stereotypes is unethical. During any company market research for purposes of marketing or attaining feedback on their performance, the research methods used should respect the rights of customers. Selection of market audience is also a common section of a business, which is likely to bring about unethical practices. It is unethical for companies to exclude potential customers from the target market. Discouraging some customers through selective marketing or targeting customers who are vulnerable such as...
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...mental health and their families as well as the community. * Safety and Security – better policing in high crime neighborhoods to improve safety for a community as a whole or specific population. * Economics – zoning regulations or employment training program for low- income people. * Environment – conservation, attention to climate change and any other environmental factor that could be harmful. Stakeholders can include but not limited to: government agencies, senior management, customers, competitors, sponsors and team members. Key characteristics of stakeholders are: strong interest, level in the organization, involvement, position relative to the organization and affect the individual, group or organization may have. PharmaCARE has several stakeholders based on the...
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...Week 7 Assignment 3 - LEG 500 August 15, 2014 PharmaCARE Company is one of the leading world pharmaceutical companies, that enjoys an honest name of a caring and well-run company and that act ethically toward its stakeholders. It provides with the high-quality products and saves people’s lives increasing its quality. However, the case with the African nation of Colberia, where the PharmaCARE holds its big manufacturing object, raise community fears as for the unethical attitude toward the indigenous population of this land. The following paper will illustrate the main unethical considerations of the Company, will describe the key characteristics of its stakeholders, and will illustrate the human rights issues presented by PharmaCARE's treatment. The paper will also suggest the changes that PharmaCARE can perform to be more ethical. The key characteristics of the stakeholders within the PharmaCARE PharmaCARE follows the open-door policy and culture among its employees. It stands for the employment equity and promotes the development and progress of its people. The company conducts workshops and training sessions to create its employees’ awareness of and ensures with the training of new processes and new technology that it establishes. It often presents health care staff with the challenging issues to ensure the staff to be aware of new medication nutritional care, some potential side effects or...
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...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 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...
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...PharmaCare’s Ethics and Social Responsability Gladys T. LEG 500 02/22/2015 PharmaCare is named among the most respectable pharmaceutical companies in the world. It is said to be an honorable and well-run organization that produces high- quality products that have not only saved millions of lives but also improve the quality of lives for millions of others. However, looking into the company mode of operation, we notice some significant discrepancies between its ethics and its commitment to social responsibility. So, Knowing that “ businesses must take into account a wide range of social issues, including how a decision will affect the environment, employees and customers” (Halbert & Inguilli, 2012), we are wondering where does PharmaCare stand in this view. PharmaCare’s Stakeholders. A stakeholder is any person, group or institution that has an interest or plays a role in any actions or decisions that an organization may take (Halbert & Ingulli, 2012). Some characteristics of a stakeholder are its/his/her the stand to gain or lose through the success of failure of the organization, providing funding, and participating or being affected by the organization work. So, identifying company stakeholders can be an aim to measure the company ethical and social responsibility. Within the PharmaCare scenario, the stakeholders are its executives, employees, consumers, “healers” from Colberia, shareholders, scholarship...
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... PharmaCARE Scenario Strayer University Prof. Campbell Stakeholders Describe the key characteristics of a stakeholder and determine all the stakeholders within the PharmaCARE scenario. The primary stakeholders in a typical corporation are its investors, employees, customers and suppliers. According to Project Management Tips (PMTips.net/blog/defining-stakeholders, n.d.), some of the key characteristics of a stakeholder is a) a person who stands to gain or lose through the success or failure of the project, a ROI b) provides funding for the project c) has invested resources in the project, d) is affected by the outputs of the project, e) is in the “chain of accountability”. The stakeholders within the PharmaCARE scenario would be the CEO, PharmaCARE’s executives and its Shareholders/stockholders of the company. Analyze the human rights issues presented by PharmaCARE’s treatment of the Colberia’s indigenous population versus that of its executives. Recommend at least three (3) changes PharmaCARE can make to be more ethical going forward. Corporations are expanding their business enterprise to less regulated poorer countries where they can violate human rights with the cooperation of that countries government, and make the officials rich. The corporations are setting up businesses in other countries where the indigenous people of that area are poor, often living in less than standard conditions and working for huge corporations such as PharmaCARE. In...
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...World PharmaCARE is a hypothetical, successful, pharmaceutical company. The company is one of the world’s most successful pharmaceutical companies which enjoys the status of being a caring, ethical, well-run company that produces high-quality products which saves millions of lives and improves the quality of life for its consumers. PharmaCARE offers free and discounted drugs to low-income families who are unable to purchase expensive drugs. The company also has a foundation which sponsors healthcare educational programs and scholarships with its CEO serving on the PhRMA board. PhRMA, the Pharmaceutical Research and Manufacturers of America, represents the country’s leading biopharmaceutical researchers and biotechnology companies. “Its mission is to conduct effective advocacy for public policies that encourage discovery of important new medicines for patients by pharmaceutical and biotechnology research companies” (PhRMA, 2015). PharmaCARE has developed a new initiative, We CARE about YOUR world, which pledges its commitment to the environment through recycling, packaging changes, and other green initiatives. The company successfully proved its lobbying by defeating environmental laws and regulation, including the reinstatement of the Superfund tax, now known as the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA). PharmaCARE, based in New Jersey, maintains a large manufacturing facility in the African nation of Colberia. PharmaCARE has found...
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...Legal and Ethical Considerations in Marketing, Product Safety, and Intellectual Property LaMeka Wright Strayer University LEG 500 June 11, 2014 Samuel Christian, Jr. Legal and Ethical Considerations in Marketing, Product Safety, and Intellectual Property Being a worldwide successful company takes a lot of hardworking individuals to make this happen. When running a successful company, you will want to make sure you are functioning in an ethical manner and are abiding by the law. “PharmaCare is one of the world’s most successful pharmaceutical companies with a reputation as a caring, ethical, and well-run company that produced high-quality products that saved millions of lives and enhanced the quality of life for millions of others” according to the scenario. However, there has been some unethical behavior going on that involves issues relating to marketing and advertising, intellectual property, and regulation of product safety. This paper will discuss some ethical issues relating to marketing and advertising, intellectual property, and regulation of product safety; argue for or against Direct-to-Consumer marketing by drug companies; determine who regulates compounding pharmacies under the current regulatory scheme, what the Food and Drug Administration (FDA) could/should have done in this scenario, and whether the FDA should be granted more power over compounding pharmacies; decide whether PharmaCare’s use of Colberian intellectual property would be ethical in accordance...
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...Legal and Ethical Considerations in Marketing, Product Safety, and Intellectual Property Three Ethical Issues When looking at PharmaCARE’s relationship with the Colberians, you see that the company’s treatment of the indigenous population is unethical. In terms of intellectual property, the scenario in Assignment 2 highlights the exploitation of the Colberians. While the indigenous population freely shares their information about their cures, the company exploits them by not compensating them for their shared knowledge. According to labor laws, companies should work ethically and treat all of their employees fair -- not equal, but fair. Some employees, based on their position and level of responsibility, should be paid more and should receive better perks than others. However, the company is earning millions of dollars from the knowledge being shared by the healers, and its executives live in luxury with swimming pools, tennis courts, and a golf course, while the Colberians continue to live in huts without electricity or running water. If the company compensated the healers for their intellectual property, the Colberians could improve their living conditions. PharmaCARE is taking advantage of this group of stakeholders because the healers are uneducated, ignorant to intellectual property laws, and do not know the true value of the information they are sharing with PharmaCARE. According to authors S.C. Jain and R. Bird, the Trade-Related Aspect of Intellectual Property...
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...Assignment 3: Legal and Ethical Considerations in Marketing, Product Safety, and Intellectual Property Kemal Cankaya Strayer University Law, Ethics, and Corporate Governance Prof. Augustine S Weekly December 15, 2013 1. Research three to five (3-5) ethical issues relating to marketing and advertising, intellectual property, and regulation of product safety. With the globalization in world economy, business ethics became indispensable neces- sity for companies. Business to business ethics of appropriate behaviors in the long term success of businesses in a positive direction, otherwise it has been the power to adversely affect the behavior. As a result, the collapse of ethical scandals have emerged released in the United States of America and Europe. Business, which clearly indicates the necessity and importance of business ethics ethics have valuable lessons from the collapse. Ethical issues at Marketing Nowadays, marketing ethics, ethical issues comes up with sales-related studies and sensitivity in the community. This aspect of the business from a societal perspective should insist on the importance of ethical practices. As a result of marketing activities by the community due to the high impression, often come up with moral problems in the advertising, personal selling, market research and international marketing issues are seen to be available to unethical behavior. Especially in the 1970s and 1980s, various scandals...
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