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Friday, May 15, 2020

Essay on Ethical dilemma case - 709 Words

The institutionalization of business ethics: ethical dilemma case Laws and regulations are established by governments to set minimum standards for responsible behavior-society’s codification of what is right and wrong. The issues surrounding the impact of competition on business’s social responsibility arise from the rivalry among businesses for customers and profits. Intense competition sometimes makes managers feel that their company’s very survival is threatened. In these situations, managers may begin to see unacceptable alternatives as acceptable, and they may begin engaging in questionable practices to ensure the survival of their organizations. In the ethical dilemma case of Producto International (PI), Myron did a research about†¦show more content†¦Myron does not want to deny his promotion because his rejection can endanger his future in the pharmaceutical business industry. For now, he does not have much choice but to accept the position in the marketing team. Perhaps in a few years he will find a job with a more ethically responsible company. The disadvantage of Myron’s choice working on the project involves poor social responsibility. Any products or ingredients which present serious health damage (such as khat and betel nut tree) should not be sold or marketed to the public, or have these products should have warnings on the packages. This way, public can decide whether they wish to endanger their health or not to buy such products. Other disadvantages involve long-term reputation damage to the company and to Myron. Whenever PI will have lawsuits involving consumer complaints regarding PI’s products, Myron will be involved in a lawsuit as well, because he was a part of the research and marketing, and he was aware of dangers khat and betel nut tree present. This can lead to end of his career in the business pharmaceuticals industry. The role of laws is not so much to distinguish what is ethical or unethical as to determine the appropriateness of specific activities or situations. Laws establish the basic ground rules for responsible business activities. Most of the laws and regulations that govern business activities fall into one of five groups: 1) regulation ofShow MoreRelatedCase Analysis : Ethical Dilemma1318 Words   |  6 PagesTitle of Paper: Ethical Dilemma One INTRODUCTION Mrs. Smith, is an 81-year-old widow. She has been widowed for over twenty years. She has been very independent with some assistance from neighbors due to her son living out of the area and unable to assist. Recently, she has had issues with her independence. She has set two accidental fires that caused damages to her apartment, as well as had a recent fall in the bathtub. 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