Management
- Submitted by: Clumsy
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- Category: English: Authors
- Date Submitted: 08/14/2015 09:58 AM
- Pages: 7
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Introduction
In the management of a business, managers often face ethical confusing situations, in which they are not sure about the differences between right and wrong in decision-making and what should be done (Yotam and Robert 2007, 195). Consequently, stakeholder interests should be taken into account considerations, chooses the most desirable option and making an effort to minimize any probable negative consequences in order to arrive at a more ethical outcome (J. Drake, W. Gerde and M.Wasieleski 2011, 8).
In the pharmaceutical industry, studies have proven that it takes approximately 10 years before the new medicine can be approved and bring into the market (Jack T 2012, 97). However, history shown that the pharmaceutical industry has been criticized for prevalent misconducts such as misuse of intellectual property laws and engaging in ethical issues, which poses some ethical issues that can affect those organization’s stakeholders (Lipworth, Montgomery and Little 2013, 355). In this case, the two key stakeholders are the people in West Africa and also the shareholders in the organization. Besides, other key stakeholders such as the scientist who developed the vaccine, employees in the organization, government that authorizes the vaccine and also the public as a whole may have interest in the development of vaccine.
Given the facts of the scenario, a deadly virus has been spreading rapidly in West Africa and caused infection in large numbers of people. The pharmaceutical corporation received a request from a health worker in Africa who wants to use the new experimental vaccine to cure people in West Africa that infected with the virus. An ethical dilemma occurred on whether or not to share the new experimental vaccine to the people needed in West Africa.
This paper will discuss the aspects of the three ethical decision-making models and they are justice, moral rights and utilitarian (Waddell, Jones and George 2013, 133). An argument will be made to...
In the management of a business, managers often face ethical confusing situations, in which they are not sure about the differences between right and wrong in decision-making and what should be done (Yotam and Robert 2007, 195). Consequently, stakeholder interests should be taken into account considerations, chooses the most desirable option and making an effort to minimize any probable negative consequences in order to arrive at a more ethical outcome (J. Drake, W. Gerde and M.Wasieleski 2011, 8).
In the pharmaceutical industry, studies have proven that it takes approximately 10 years before the new medicine can be approved and bring into the market (Jack T 2012, 97). However, history shown that the pharmaceutical industry has been criticized for prevalent misconducts such as misuse of intellectual property laws and engaging in ethical issues, which poses some ethical issues that can affect those organization’s stakeholders (Lipworth, Montgomery and Little 2013, 355). In this case, the two key stakeholders are the people in West Africa and also the shareholders in the organization. Besides, other key stakeholders such as the scientist who developed the vaccine, employees in the organization, government that authorizes the vaccine and also the public as a whole may have interest in the development of vaccine.
Given the facts of the scenario, a deadly virus has been spreading rapidly in West Africa and caused infection in large numbers of people. The pharmaceutical corporation received a request from a health worker in Africa who wants to use the new experimental vaccine to cure people in West Africa that infected with the virus. An ethical dilemma occurred on whether or not to share the new experimental vaccine to the people needed in West Africa.
This paper will discuss the aspects of the three ethical decision-making models and they are justice, moral rights and utilitarian (Waddell, Jones and George 2013, 133). An argument will be made to...