The Nature of the Pharmaceutical Industry - Assignment Example

Ethical Scenarios ETHICAL SCENARIOS For the first scenario, I would first go to the pharmacy and explain thewhole situation to the people in charge. I would ask them to give me the medications for now for the life of my loved one is in danger and will ask them to pay for it in installments. If they do not agree to this, I will have no other option besides breaking in and stealing the medicine, for the life of someone I love is in danger. At that particular time, I am not going to have any ethical consideration, because all that will be running in my mind would be saving the life of someone I love.

I will be ready for the consequences of my actions because I am aware of the fact that what I would do is wrong and its result will not be in my favor but for the time being my initial goal will be nothing but saving someone’s life. I do not care if they will file a law suit against me for at that time my only priority will be saving the person I love. 2. As the Chief Executive of a medicine supply business, it is my responsibility to ensure the safety of my consumer. If the product has caused any sort of harm in the lives of the people who are purchasing our products, so it the responsibility of our firm to pay the damaged caused.

In this case, it will be better to first fix the problem that exists in the product before it causes anymore damage to the customers. However it is also very important to give compensation to the customers for the deaths of their relatives or families. It seems that this action taken by the company will ruin its reputation and name in the eyes of its customers, which is not true at all. It may be possible in the short run but in the long run people will view the company as entity that took responsibility for something it did wrong and then fixed it. 3. Yes, as a Chief Executive Officer I would definitely pull the products off the shelves before it does any more damage to the precious lives of the consumers.

As a firm operating in the pharmaceutical company, it is our responsibility to ensure that we create products that save the lives of other. Pharmaceutical companies have the responsibility to make the lives of their customers better and that is what the initial goal of our pharmaceutical company should be. Removing the product from the shelves of the medical stores may not be a good financial decision but it is an ethical decision and all our goals should be aligned in a way to contribute in making the life of our customers better, not worse.

Secondly, the employee who is behind all this blunder must also punished for his actions. An investigation must be conducted where the roots of the problem should be found and it must be resolved from the point where it initially began (The Nature of the Pharmaceutical Industry, 2015). Reference The Nature of the Pharmaceutical Industry. (2015). Retrieved from http://www.mnwelldir.org/docs/editorial/pharm.htm