...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 Rights (TRIPS) is considered the most relevant intellectual property treaty, and nations that have signed on must treat foreign intellectual property rights holders the same as domestic ones (2008, p. 7). Yet, PharmaCARE failed to compensate the healers of Africa in the manner required by U.S. laws. Next, let us look at the relationship between the executives and the rank-and-file workers. Under...
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...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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... 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 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...
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...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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...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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...Ethics and Corporate Responsibility in the Workplace and the World Patricia Ingram Professor Renee Berry Legal 500- Law, Ethics, and Corporate Governance March 1, 2015 Introduction "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 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). ...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...
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...Assignment 3: Ethics and Corporate Responsibility in the Workplace and the World Alicia Pearson Dr. Mary Nelson LEG/500 November 28, 2015 Ethics and Corporate Responsibility in the Workplace and the 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...
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...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 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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...Legal and Ethical Considerations in Marketing, Product Safety, and Intellectual Property Legal and Ethical Considerations in Marketing, Product Safety, and Intellectual Property Ervin Coburn Dr. Redmon LEG 500 December 15, 2013 Research three to five (3-5) ethical issues relating to marketing and advertising, intellectual property, and regulation of product safety. Marketing and advertising are the main channels that all companies use to get access to the customers and present their products to the potential customers. These have a very huge impact on the sales and the overall profit that the company will get. Every company must put into consideration all the legal and ethical issues to ensure that they attract more customers to buy their products hence maximizing their overall profits. Failure to put into consideration the ethical and legal issues in marketing will repel the customers from the company hence low sales and this may put any company out of business. The legal issues related to marketing and advertising include the laws and regulations that are laid down regarding marketing and adverting. Every state has statutes and general laws that dictate how marketing and advertising has to be carried out. From whatever area that the company operates, it has to follow the laws about marketing and adverting. Failure to follow the laws may put the company in legal problems which may be very costly and affect their profit margins. Such legal problems may also destroy the reputation...
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...February 21, 2016 Law, Ethics, and Corp. Governance 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 population lives in primitive huts with no electricity...
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... 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 in the international arena, large-scale corruption in the agenda for the international marketing have led to the examination of moral side. On ethics in international...
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...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 with utilitarianism, deontology, virtue ethics, ethics of care, my own moral/ethical compass; analyze the way PharmaCare uses U.S. law to protect its own intellectual property while co-opting intellectual property in Colberia; suggest three ways the company could compensate the people and nation of Colberia...
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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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...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 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...
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