Ethics - 779 Words

Ethics in the Pharmaceutical Industry Business Law Ivy Tech Community College Tamara Baxter September 20, 2013 The pharmaceutical industry has a difficult task when it comes to doing the right thing, put people or profits first (Weber, 2006). To keep their operations operating they must approach a duties-based ethical approach because the lives of their stakeholders are literally at risk. A religious ethical standard would mean not to falsely proclaim that a drug does something that it does not. An example would be to say that a drug would help you lose weight quicker without diet or exercise. Pharmaceutical companies claim that they approach ethics determined by outcome based ethics, meaning the greatest†¦show more content†¦Crawford was charged with making fraudulent statements and conflict of interest (Negron, 2009). The charges came from his failure to accurately disclose stock and option holdings in companies regulated by the FDA (Negron, 2009). Pharmaceutical companies must have ethical responsibility to its stakeholders (Weber, 2006). Stakeholders are those that will either b enefit or be injured from the pharmaceutical companies decisions (Weber, 2006). In this case the largest stakeholders are the patients that are prescribed the medications that the pharmaceutical companies produce; because the patients take the biggest risk by taking the medication that the company produces (Weber, 2006). The pharmaceutical industry urges the consumer by direct advertisement of their products on television, radio and printed material (Smith, 2008). This is breaking the pharmaceutical industry social responsibility. By their elusive messages, they cause consumers to self-diagnosis (Smith, 2008). An example would be give symptoms for depression and the consumer may think that is what is wrong with them, but it could be something different. The pharmaceutical industry thinks that they are following outcomes-based ethics by advertising because they are able to reach the consumer directly about cures for their disorders. The employees of the pharmaceutical company would a lso be a large stakeholder because their jobs are threatenedShow MoreRelatedEthics And Ethics : Ethics922 Words   |  4 Pagesand friend group to be altered. One change I was not anticipating making was my approach to ethics. Over the course of the past fifteen weeks, my knowledge of ethics as well as my approach to ethics has changed. I have become more knowledgeable about the different approaches to ethics and have gained insight as to where I stand in my approach to ethics. One thing that has changed in my approach to ethics since the beginning of the semester is I am now adamant that it is impossible to arrive at aRead MoreEthics : Ethics And Ethics Essay1578 Words   |  7 Pages†¢ Define ethics. Ethics is defined as the moral principles and standards that guide the behavior of an individual or group, while business ethics refers to said behavior in the work environment. Great leaders demonstrate and practice this both personally and professionally. With today’s constant media coverage of unethical decisions and their violators, it can be easy for many to people to assume that ethics codes are â€Å"just for show†. A prime example of the unethical culture that exists in businessRead MoreEthics : Ethics And Ethics851 Words   |  4 PagesJohn Berger who stated, â€Å"Without ethics, man has no future. This is to say, mankind without them cannot be itself. Ethics determine choices and actions and suggest difficult priorities† (Berger). His meaning behind that quote is simple. In this world is there a right and a wrong way of doing something? In this world, ethics determines our actions and the consequences that come about those actions, determining right and wrong. The real question is however, are Ethics black and white? Is what is â€Å"right†Read MoreEthics : Ethics And Ethics955 Words   |  4 PagesIntroduction: Ethics is a key moral philosophy that helps us determine what is right and wrong. This paper will talk about my views on ethics. I will share personal examples of ethical situations that I have been in. I will also share where my ethical views originated from and why ethics is important to me. Next, I will discuss how ethics will affect my career and why it will be important in it. Lastly, I will talk about the importance of ethics in the global world. Personal: In my opinion ethics is a moralRead MoreEthics And The Ethics Of Ethics929 Words   |  4 Pages Ethics Nurse’s Before all parties involved can begin a working relationship, each individual should discuss and obtain a written description of the duties expected and the code of ethics that should be respected and followed; by beginning with a clear understanding of ethical values. Ethics: the study of right and wrong and how to tell the difference between them. Since ethics also means people s beliefs about right and wrong behavior, ethics can be defined as the study of ethics. EthicsRead MoreEthics : Ethics And Ethics1569 Words   |  7 Pages Ethics In Nursing Rayda M. Garcia Fairleigh Dickinson Universityâ€Æ' Ethics In Nursing The study of ethics, or applied ethics, is necessary for healthcare professionals who often face dilemmas that are not experienced by the general population. The fast-paced growth of medical technology has made the study of ethics even more relevant. The study of bioethics, or biomedical ethics, refers to moral dilemmas due to advances in medicine and medical research. Since medical law and ethics are oftenRead MoreEthics And Ethics Of Ethics775 Words   |  4 Pagesmillion to settle a shareholder lawsuit. We can refer from the two previous examples that ethics education is crucial. The main reason for ethics education is that ethics courses and training would help students, who are going to become future managers and business decision makers, to resolve such ethical dilemmas correctly. As we know that most dilemmas often have multiple decision criteria. Business ethics classes would help students to realize which decision criteria lead to a preference for aRead MoreEthics And Ethics Of Ethics Essay1491 Words   |  6 Pagesemployees that the work place ethics code forbids using work-place resources for personal financial profit. To make ethically right decision in this ethical dilemma, I will focus on the philosophers’ standpoint and reasoning of ethics of care, ethics of justice, utilitarian ethics and universal principle to analyze the situation. In this tough situation, my conclusion is that I will not report this action to the higher authority although she is violating wor k place ethics code. I will provide my reasoningRead MoreEthics : Ethics And Ethics1485 Words   |  6 Pages Ethics is a concept derived from an individual’s religion, philosophies or culture, forming a collection of moral principles carrying out the manner in which a person leads their life. In modern society philosophers divide ethical theories into three separate areas, meta-ethics, normative ethics and applied ethics. Meta-ethics refer to the origins and meanings of ethical principles, dealing with the nature of moral judgement. Normative ethics refers to what is right and wrong and concerned withRead MoreEthics And Ethics Of Ethics987 Words   |  4 PagesEthics affect every facet of life, especially in a professional community. When a decision is to be made within a community, the ethical decision is typically that which benefits the most people or harms the least people. There are some scenarios however, when the correct decision based on a system of ethics that values doing the right thing is not the decision that leaves behind the least negative impact on the organization. An organization must decide if it will follow the system of ethics that