It manufactures vaccines, medicines for a vast range of diseases. It is the largest pharmaceutical company of the world in terms of revenue. Pfizer’s objectives is to improve the quality of life by giving assurance in the supply of…
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The company wants to make itself an integrated global organisation. But for its business growth & achieving its objectives the company took some major wrong steps which involved the company into a scandal in1996. This affected the ethical issues of the company also. Pfizer introduced a drug named Trovan. At that time a large outbreak was spread in Nigeria and the company tested the drug on infected children under hasty concision. The company did not inform their parents about the experimental drugs. The adverse effect of this drug killed fifty children & disabled many children. This action affected the ethical issues of the company like individualism, Kantianism, utilitarianism. The company disobeyed the government laws & ethical standards to maximize its profit. Pfizer only considered its business growth without focusing on its customer happiness. The goodwill of the company was hampered as it only focused on money making and ignored the value of people life. The company neither executed the trial for good cause nor did it create happiness. Without evaluation the problems associated with the results of the trial Pfizer implemented it and ended with lawsuits. Pfizer did not respect its customers and took irrational actions (Altier 64-67). The company behaved in an inhuman way with the Nigerians and produced fake letter. As a results of this ethical issues Pfizer was deceitful to the US as the company did not informed the country about this incident for a long time. The company showed its coward nature by not admitting the facts that unethical standard was followed during the time of its medicine testing. It did not consider about the correct ethical guideline which should be followed. This is how the business objectives of Pfizer affected the ethical considerations (Baier 88-89).
A person who invests in the company is known as stakeholder. They contribute a
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In this regard, some have questioned the continued relevance of CSR in the current conduct of business. Recognising the integral importance of the current predicament of CSR in the business environment, this research will focus on some pharmaceutical companies in Australia as it seeks to address the question, ‘in the face of many socially irresponsible activities of corporations, is there still relevance for CSR in the conduct of current business environment’.
The ethical decision making process not only encompasses the basic values that are associated with the functions of a business. This also combines with the strategies for a corporation and the internal and external philosophies which relate to the ethical process.
In that example, what do I think are both the benefits and the limitations (the possible problem areas) in this engagement activity? Power, legitimacy and urgency, can impact business performance in an organization. Crane and Matten (2010) argues that salience models employed by stakeholders can impact business either negatively or positively.
Thus, the organization’s success in this competitive and dynamic environment is mainly determined by its ability to develop, implement, monitor and evaluate its business strategy (Roussow, 2003). In as far as marketing concept in business is concerned, it can be seen that the ideal criteria that can be used to select one depends on the goals and objectives to be achieved by the organization.
Marketing is the critical business function that helps to attract the customers. Organizations can choose five different competing concepts in order to operate business. These are product concept, production concept, marketing concept, holistic marketing concept and selling concept.
It was founded by Akio Morita and Masaru Ibuka and derived its name from sonus which means smart and well-dressed young men. It is one of the principal manufacturers of electronic products for both consumer and professional markets and grabbed the ranking of 87th in the year 2012 in the list of Fortune Global 500 companies.
Marketing is the process of creation, communication, deliverance and exchange of offerings that are of value for the customers, partners, clients and also the society collectively. Marketing is also the creating, maintaining, and managing of the customer relationship for a long term in ways that are beneficial to the company and also the shareholders.
The review that has been performed helps to point firmly to the understanding that those firms that actively engage in this process are at a noted advantage as compared to those that merely dismiss it as a waste of time and resources.
The author analyzes the book Business Ethics Manual, which presents a rich coverage of various issues that arise within the modern business market. The book explores the obligations that companies have to their stakeholders, corporate social responsibility plans and issues such as bluffing that are rampant in the employment sector.
10 Pages(2500 words)Book Report/Review
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