NOT ALL COMPANIES ARE VIEWED AS EQUAL. Business & Marketing Essay (Essay Sample)
Description
In the land of free trade, the public does not view all industries as equal. Do you believe that is ethical? Do you believe that some industries are unfairly targeted? Should it be consumers’ choice to partake in products that are not healthy for them, or do those companies have an ethical obligation to protect people? In this assignment, you will choose from one (1) of the following industries to write about:
The pharmaceutical industry
The payday loan industry
Cloning for medical purposes
Write a paper in which you:
Become an advocate for either the consumer or the industry. Prepare an argument explaining the major reasons why you support either the consumer or the industry.
Discuss if you believe it is possible for a company to cater to both its best interest and that of the consumer conjointly or if one always has to prevail. Justify your response.
Use at least two (2) quality references. Note: Wikipedia and similar Websites do not qualify as academic resources.
Your assignment must follow these formatting requirements:
This course requires use of Strayer Writing Standards (SWS). The format is different than other Strayer University courses. Please take a moment to review the SWS documentation for details.
The specific course learning outcomes associated with this assignment are:
Determine the considerations for and process of ethical business decision making to balance corporate and social responsibilities, and address moral, economic, and legal concerns.
Analyze selected business situations using the predominant ethical theories, such as utilitarian, Kantian, and virtue ethics to guide ethical business decision making.
Use technology and information resources to research issues in business ethics.
Write clearly and concisely about business ethics using proper writing mechanics.
Not All Companies Are Viewed as Equal
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INTRODUCTION
Ethics are a set of moral rules and principles that regulate how individuals and society conduct itself while making decisions in life. Ethics provide the moral philosophy that shapes individual characters, habits, including organizational dispositions (Hursthouse, 2013, p.645). Kantian virtue theory of ethics admits that "the only intrinsically good thing is goodwill." Any action can only be right if optimally applied as a moral obligation (Hursthouse, 2013, p.645). While unearthing what is right or wrong to do, ethics investigate the moral road map that defines life, resolves dilemmas, emphasizes rights and responsibilities (Hursthouse, 2013, p.645). In a multifaced and complex modern business world, organizations and industries are at center stage when it comes to approvalof ethical standards. The dominance of free trade globalized economies leaves governments with limited power in influencing consumer perceptions about products or industry. The paper explores predominant ethical theories to investigate whether all industries are equal and whether pharmaceutical industries are unfairly targeted (Hursthouse, 2013, p.645). It also points out the consumer and organizational role in influencing nature of pharmaceutical products in the market. Also Included are reasons for or against support consumers and the pharmaceutical industry, company position in catering own and consumer interests. Lastly, the ethical decision-making process is clarified in balancing corporate social responsibilities while addressing the economic, moral and legal concerns.
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