Ethical Practices of PharmaCare

Ethical Practices of PharmaCare

Introduction

Apart from this reality that every organization and business strives to maximize its shareholders wealth it is essential for all businesses to take care of the environment in which it is operating (Hirsch, 2008). Governments are implementing and executing several kinds of legal acts that protect the environment from hazardous substances and toxic pollutants. To keep the environment clean and healthy everyone should play its role dedicatedly.

In addition to maximize the shareholders wealth, companies should also deliver a substantial part of its earning for the betterment of the environment. Main objective of this assignment is to evaluate the role of PharmaCARE in the betterment of the environment, and to explore the reasons which cause management of PharmaCARE to take some corrective measures in building their eco friendly image. Furthermore, I am going to elaborate the ethical issues faced by the employee working in the PharmaCARE and will also discussed the rationale behind the whistle blowing of the employees.

Stakeholders of PharmaCARE

Stakeholders are the individuals who posses some interest in the business and its success. Stakeholders can play some role in the betterment and growth of the company. These stakeholders can be classified into direct or indirect stakeholders based on their role and association wit the business. All companies try to keep their stakeholders happy by maximizing their stake (financials, other) associated with the company. PharmaCARE, like other pharmaceutical companies is answerable to several stakeholders such as suppliers, government, pressure groups, media, employees, customers, civil society, consumer associations, courts etc. out of these shareholder roles of following stakeholders is discussed in the assignment given to us.

Employees

Employees are the internal and most important stakeholders of the company. Employees who are working for PharmaCARE under the late sittings, increased production and tough working conditions are open to suffer many repercussions associated with it. In the given scenario writer has discussed the situation of four employees Ayesha, Tom Donna and Allen. These employees have faced the aftereffects of the stated reasons on their health.

Regulatory Authorities

All pharmaceuticals are supposed to follow the guiding principles designed by the medical authorities of a particular region. Similarly, PharmaCARE was liable to discuss the repercussions of this new medicine with supervisory authorities. In given scenario role of two regulatory authorities (FDA and OSHA) is discussed. Food and Drug Administration (FDA) is a governmental authority to scrutinize the operations of a pharmaceutical company and to ensure that high ethical standards are being followed by an organization. PharmaCARE tried to double cross the regulatory policies of FDA by selling its controversial product under the shelter of its wholly owned subsidiary CompCARE. Role of Occupational Safety and Health Administration (OSHA) is also discussed in the given scenario as one employee threatened to register a complain regarding the poor air quality in the lab and other working facilities.

Customers / Patients

Like employees, patients are also considered as the internal and primary stakeholders of the company. Situation from the part of customer is also portrayed ...