Stakeholders In Pharmacare: Law, Ethics, And Corporate
PharmaCARE
Bionca Murray
Law, Ethics, & Corp. Governance
Dr. Boneita Campbell
Strayer University
2-19-2015
Stakeholders A stakeholder is a person, group or organization that has interest or concern in an organization (businessdictionary). Generally the common characteristics stakeholders might have are if they stand to gain or lose through the success or failure of the company. “A corporate stakeholder can affect the actions of a business as a whole” (businessdictionary). PharmaCARE is a well-reputed company whose number one goal is to produce quality care products across the world. PhramaCARE’s prime stakeholders include CompCARE, employees and the employers. Any decision PharmaCARE makes can either be a negative or positive …show more content…
According to the scenario PharmaCARE promises to provide their workers with a better quality of life by providing discounted and sometimes free drugs to low-income consumers, and other benefits like healthcare programs and scholarships. From a deontology perspective PharmaCARE has a moral commitment that they continue to stand by. Another ethical theory that people often mix up with Deontology is Virtue ethics. Virtue Ethics can be identified as the one that emphasizes the virtues, or moral character. Based on the virtue ethics theory PharmaCARE can be considered to be either ethical or unethical. An ethical act of PharmaCARE is that they are looking to enhance the lives of millions with their high-quality products. According to Character based ethics, “virtue ethics is concerned with the whole of a person’s life, rather than particular episodes or actions” (bbc.co.uk). Virtue ethics teaches an action is only right if it is an action that a person would carry out in the same circumstances. In other words according to virtue ethics theory PharmaCARE must be willing to provide the same low-cost drugs even if the manufacture process was more expensive. “Ethics of Care is a theory that is centered around the interdependence of all individuals. It takes into account the fact that certain communities and people are more vulnerable than others, and that you (as the non-vulnerable population) should afford extra consideration to the vulnerable community depending on how they are affected by your choices” (Theoretical Frameworks). It is obviously the workers of PharmaCARE are not created equally. According to the scenario PharmaCARE executives live in luxury compounds, which is high above the average Colberian. Based on the ethics of care theory PharmaCARE actions are
Bionca Murray
Law, Ethics, & Corp. Governance
Dr. Boneita Campbell
Strayer University
2-19-2015
Stakeholders A stakeholder is a person, group or organization that has interest or concern in an organization (businessdictionary). Generally the common characteristics stakeholders might have are if they stand to gain or lose through the success or failure of the company. “A corporate stakeholder can affect the actions of a business as a whole” (businessdictionary). PharmaCARE is a well-reputed company whose number one goal is to produce quality care products across the world. PhramaCARE’s prime stakeholders include CompCARE, employees and the employers. Any decision PharmaCARE makes can either be a negative or positive …show more content…
According to the scenario PharmaCARE promises to provide their workers with a better quality of life by providing discounted and sometimes free drugs to low-income consumers, and other benefits like healthcare programs and scholarships. From a deontology perspective PharmaCARE has a moral commitment that they continue to stand by. Another ethical theory that people often mix up with Deontology is Virtue ethics. Virtue Ethics can be identified as the one that emphasizes the virtues, or moral character. Based on the virtue ethics theory PharmaCARE can be considered to be either ethical or unethical. An ethical act of PharmaCARE is that they are looking to enhance the lives of millions with their high-quality products. According to Character based ethics, “virtue ethics is concerned with the whole of a person’s life, rather than particular episodes or actions” (bbc.co.uk). Virtue ethics teaches an action is only right if it is an action that a person would carry out in the same circumstances. In other words according to virtue ethics theory PharmaCARE must be willing to provide the same low-cost drugs even if the manufacture process was more expensive. “Ethics of Care is a theory that is centered around the interdependence of all individuals. It takes into account the fact that certain communities and people are more vulnerable than others, and that you (as the non-vulnerable population) should afford extra consideration to the vulnerable community depending on how they are affected by your choices” (Theoretical Frameworks). It is obviously the workers of PharmaCARE are not created equally. According to the scenario PharmaCARE executives live in luxury compounds, which is high above the average Colberian. Based on the ethics of care theory PharmaCARE actions are