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Research Accounting and Finance : ethical issues report - Literature review Example

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College Name Research Accounting and Finance Ethical issues report 3/30/2011 Section A: Case analysis: The Quandry at PureDrug The case of quandary at Puredrug is analyzed as per the 7 step model by American Accounting Association. Facts Puredrug, a large pharmaceutical company with operations and sales across the globe has been facing economic problems with decline in the market share and reduction in corporate profits…
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Research Accounting and Finance : ethical issues report
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Download file to see previous pages Norms, principles, and values related to the case The value that is expected of a pharmaceutical company is that they release drugs with minimum side effects and maximum benefits at reasonable prices. As a pharmaceutical company, it is our responsibility to take care of the health of people in which it makes sales. Alternative courses of action Option 1 available with the company is to sign the contract with the Philippines Government. Option 2 available with the company is to not release the drug. Option consistent with values Option 2 where we do not release the drug is more consistent with the values. We will take a hit on our profitability but will not release the drug. Consequences of options Option 1 will have a considerable impact on the profitability. However, it is possible that the drug might have significant side effects. This will have a negative impact on the image of the company not only in the country but also around the world. Option 2 will enhance the reputation of the organization. The company can do some more R&D and release an improved version which can clear the domestic tests as well, the company can then launch the product in domestic as well as foreign market. Decision Based on the consistency with the values, the company should not sign up the contract with the Government, do more R&D and release a better product with no side-effects. Section B: Ethical Investment In the recent history there has been increased emphasis on the area of investments being socially responsible ad ethical. Investors now make investments that are consistent with the principles of ethical investment. Ethical investment can be defined as the application of ethical and social principles while selecting and managing investment portfolios (Cowton, 1994). In the area of ethical investment, companies as well as individuals make investment that clear the tests of being ethically and socially correct. The area of ethical investment, also referred to as Socially responsible investment (SRI) has been researched considerably in the recent past. The two aspects of ethical investments that have been researched include economic aspects and social aspects of the area. Social aspects of ethical investments Ethical investments have a significant positive social impact on an entity making investments. Ethical investments will ensure that the investments made by the organization are consistent with the personal values of the people making investment decision. These investments also increase common investor’s understanding of organizations that are not consistent to principles of ethical investments (Sauer, 1997). Organizations practicing ethical investments enjoy increased reputation as a socially responsible corporate. Through ethical investments, organizations can be clear about their risks and their mitigation plans to the general public. Companies that disassociate themselves from environmental and social issues might find itself in trouble that might arise out of certain unethical decisions. The dumping of oil platform in North Sea in 1995 by Shell resulted in the company shifting its focus from its operations to other side issues which resulted its performance. This made the company realize that “ ...Download file to see next pagesRead More
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