Ethics and Corporate Responsibility in the Workplace and the World
It is the responsibility of companies today to promote responsible business practices at every level of the company. Business should be conducted ethically and honestly. Companies should also foster environments that promote ethical conduct and comply with all requirements of the law that they fall under. This paper will examine the ethical practices of PharmaCARE. Stakeholders will be identified, and several scenarios will be evaluated and critiqued.
Stakeholders
PharmaCARE’s stakeholders are individuals and businesses that have an interest in the company’s day to day operations. Some of the stakeholders for PharmaCARE include employees, customers, investors, creditors, government agencies, and communities.
Employees
PharmaCARE depends on the hard work, dedication and talent from their employees, managers, and board members to be successful. PharmaCARE may offer attractive benefits and compensation packages to retain key employees. The benefits that are offered may include health insurance, 401k plans, onsite childcare, and flexible work hours (Dukkha, 2009).
Customers
Customers play an important role in PharmaCAREs viability and profitability. PharmaCARE must be able to meet customer preferences and expectations and be able to anticipate to changes the customer may desire. To meet customer demands PharmaCARE must invest in developing new products and customer service and technical support (Dukkha, 2009).
Investors
PharmaCARE’s investors expect to receive full disclosure of material information from publicly traded companies. This information includes financial reports, changes in senior management, and product delays. Management is liable to shareholders, owners, and partners (Dukkha, 2009).
Creditors
PharmaCARE’s creditors assist by providing capital for cash shortfalls and financing operation and business expansions. Creditors have the power to force PharmaCARE to refocus its direction by refusing loan applications or credit line
Stakeholders
PharmaCARE’s stakeholders are individuals and businesses that have an interest in the company’s day to day operations. Some of the stakeholders for PharmaCARE include employees, customers, investors, creditors, government agencies, and communities.
Employees
PharmaCARE depends on the hard work, dedication and talent from their employees, managers, and board members to be successful. PharmaCARE may offer attractive benefits and compensation packages to retain key employees. The benefits that are offered may include health insurance, 401k plans, onsite childcare, and flexible work hours (Dukkha, 2009).
Customers
Customers play an important role in PharmaCAREs viability and profitability. PharmaCARE must be able to meet customer preferences and expectations and be able to anticipate to changes the customer may desire. To meet customer demands PharmaCARE must invest in developing new products and customer service and technical support (Dukkha, 2009).
Investors
PharmaCARE’s investors expect to receive full disclosure of material information from publicly traded companies. This information includes financial reports, changes in senior management, and product delays. Management is liable to shareholders, owners, and partners (Dukkha, 2009).
Creditors
PharmaCARE’s creditors assist by providing capital for cash shortfalls and financing operation and business expansions. Creditors have the power to force PharmaCARE to refocus its direction by refusing loan applications or credit line
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