Business Ethics and the Importance of Best Business Practices (Essay Sample)

BUSINESS ETHICS
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Education occurs in two parts, one teaching us how to make a living and the other how to stay comfortably. Business ethics comprises of a myriad of interactions among people and the institutions involved. From a perspective of morality, the activities of a business must be examined to determine the productive nature, the effect it has on the people and the overall outcomes that accompany the interactions and the view of society on these companies. Ethical behavior is sometimes favored over self-interest, but on the contrary, businesses aim to make profits and minimize losses (Albrecht, Thompson, Hoopes & Rodrigo, 2010). Society is educated to think and act morally towards businesses since they bring goods and services to our doorstep and ensure we get the necessary satisfaction.
           If businesses comply with rules and treat people accordingly, then society will be kind towards their activities. Pharmaceutical companies have come under attack in recent times due to the after-effects of medicine sold. The chemicals put in various medications have different effects on people. Cancer drugs (chemotherapy and radiotherapy) mostly help in reducing the cancer cells in the body, but in the long run, deplete the red blood cells and detrimental to the bone marrow. The aspect of fairness in looking at the industries depends on their corporate social responsibility towards the consumers.
I stand with businesses since their aims are genuine. In any business setup, the purpose is to make maximum profits while minimizing losses. In the pharmaceutical industries, companies make the best medicines and advertise it to consumers who have created the demand. The response of any businesses is to offer solutions; thus the consumers are provided with drugs to help them heal while the companies benefit in monetary terms. In utilitarianism, the outcome is what matters while determining right from wrong. Predicting the extent of damage from drugs put to help people is inconsequential, but in retrospect, it helps to show the consumers that medicines are essential even when used as a source of income, the help people heal well.
The United States of America has been at the forefront of pharmaceutical businesses being sued due to poisoning scandals, and this has rendered most companies bankrupt. Ethically, the companies should take care of consumers’ health, but in manufacturing medicines in large numbers and ensuring it works, the chemicals used have to be potent and available for use in the medication required. Companies stand to gain from consumers who use their products, and the various chemicals used are for preservation, which is necessary, to ensure the lon