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Date Submitted: 12/21/2014 09:48 AM
PharmaCARE’s Ethical and Legal Maladies Explained
Charity Vergara
LEG500
Professor Kapalko
23 February 2014
Determine all the stakeholders in this scenario.
By definition, a stakeholder is a 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. Therefore, by this definition, there are plenty of stakeholders in this scenario. We must address PharmaCARE’s top executives, the shareholders who control the stock, the indigenous community from where they get their materials, the lab employees and managers, and the physicians who prescribe the medicines as well as the many patients who took the medicines.
Analyze the ethics of PharmaCARE’s treatment of the Colberia’s indigenous population and its rank-and-file workers versus that of its executives.
If one applies Kant’s “categorical imperative” ethical theory, we can see that PharmaCARE was not treating its employees in a fair manner versus its executives. The executives were taking huge payouts and bonuses as well as living in a luxurious compound complete with swimming pools and a golf course while the indigenous people were living in huts and earning a mere dollar per day. At its core, the purpose of a successful business is to raise the standard of living for all whom are stakeholders. American business has enabled our citizens to live more comfortably than most any other citizens in the world. This rule should apply to the foreign countries we operate in. By building a successful business on the backs of the...