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Ethics and the Conduct of Business, 7th Edition

All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without either the prior written permission of the publisher or a licence permitting restricted copying in the United Kingdom issued by the Copyright Licensing Agency Ltd, Saffron House, 6—10 Kirby Street, London EC1N 8TS.

All trademarks used herein are the property of their respective owners. Ethics in the World of Business John R. Boatright 1 2. Ethical Decision Making John R. Boatright 23 3. Ethical Theories John R. Boatright 53 4. Whistle Blowing John R. Boatright 77 5. Boatright 97 6. Privacy John R.

Boatright 7. Discrimination and Affirmative Action John R. Boatright 8. Employment Rights John R. Boatright 9. Occupational Health and Safety John R. Boatright Ethics in Finance John R. Corporate Social Responsibility John R.

Corporate Governance and Accountability John R. Merck received widespread accolades in particular for the decision, made in , to proceed with research on a drug for preventing river blindness onchocerciasis , which is a debilitating parasite infection that afflicts many in Africa, even though the drug was unlikely to pay for itself. Eventually, Merck decided to give away the drug, called Mectizan, for as long as necessary at a cost of tens of millions of dollars per year.

This kind of principled decision making was inspired by the words of George W. It is not for the profits. The profits follow, and if we have remembered that, they have never failed to appear. The better we have remembered it, the larger they have been. John R. Ethics in the World of Business. Developed as a treatment for the pain of arthritis, the drug acts as an anti-inflammant by suppressing an enzyme responsible for arthritis pain.

However, COX-1 is important for protecting the stomach lining, and so ulcers and stomach bleeding are potential side effects of these drugs. The success of Vioxx came at a critical time for Merck.

Not only were the patents on several profitable drugs due to expire, opening the way for generic competition, but also the competitive environment of the entire pharmaceutical industry was undergoing rapid change. Competition from generic drugs increased dramatically due to federal legislation and also due to the rise of large, powerful managed care organizations, which sought to cut the cost of drug treatments through the use of formularies that restricted the drugs doctors could prescribe.

The development of new drugs was increasingly shifting to small entrepreneurial research companies focused on specific technologies, which reduced the competitive advantage of the traditional large pharma- ceutical firms. However, under the previous CEO, Roy Vagelos who guided Merck through the development of Mectizan for river blindness , the company greatly increased its emphasis on marketing.

This emphasis was considered necessary given the short time available to sell a drug before the patent expired. The label could be improved further by conducting tests which were not scientifically necessary but which generated clinically proven results that could be useful in persuading physicians. The first hint of trouble came in that year as Merck scientists noticed that Vioxx appeared to suppress the production of a substance in the body that acted naturally to reduce the incidence of heart attacks.

Although the significance of this discovery was recognized, no follow-up investigations were undertaken. More significant evidence that Vioxx might contribute to heart attacks was produced by a study concluded in that was designed to compare the gastrointestinal effects of Vioxx and naproxen in order to improve the label of the Merck product by proving that Vioxx was less harmful to the stomach lining.

Although the study, called VIGOR for Vioxx Gastrointestinal Outcomes Research , showed that Vioxx users had heart attacks at a rate four to five times that of the naproxen group, researchers were uncertain whether the difference was due to an adverse.

The heart attacks in the trial occurred mainly in the Vioxx subjects already at greatest risk of heart attacks, and all subjects were prohibited from taking aspirin which is known to prevent heart attacks in order to gain reliable results from the study since aspirin affects the stomach. When the results of the VIGOR study were published in November in the prestigious New England Journal of Medicine, the beneficial effects of naproxen were emphasized in a way that implied that Vioxx was safe for people without the risk factors for heart attacks.

After initially resisting pressure by the FDA to include a warning on the Vioxx label, Merck finally agreed in April to add the evidence of an increased incidence of heart attacks. However, the language on the label emphasized, again, the uncertainty of the cause and recommended that people at risk of heart attacks continue to use an anti-inflammant for protection.

In the meantime, Merck continued its aggressive marketing campaign. This expenditure was intended to keep pace with the heavy spending by Pfizer for its competing COX-2 inhibiter Celebrex. Merck also maintained a person sales force to meet with doctors for face-to-face conversations about Vioxx.

To support this effort, Merck developed materials that provided salespeople with responses to questions from skeptical physicians. Merck executives appear to have considered carefully the possible health risk posed by Vioxx, and yet the push for profits may have led them to conclude too easily that Vioxx was not the cause of the.

All business organizations face the daunting challenge of adhering to the highest stan- dards of ethics while, at the same time, remaining competitive and providing the products and services that the public demands.

The task of managers in these organizations is to make sound business decisions that enable a company to achieve its mission. Some of these decisions involve complex ethical issues that may not be readily apparent, and success in mak- ing sound business decisions may depend on understanding these ethical issues and resolving them effectively.

This text is about the ethical issues that arise for managers—and, indeed, for all people, including employees, consumers, and members of the public. Corporate activities affect us all, and so the ethical conduct of business is a matter of concern for everyone. The ethical issues examined in this text are those considered by managers in the ordinary course of their work, but they are also matters that are discussed in the pages of the business press, de- bated in the halls of Congress, and scrutinized by the courts.

This is because ethical issues in business are closely tied to important matters of public policy and to the legislative and judicial processes of government. They are often only part of a complex set of challenges fac- ing the whole of society. The Sales Rep. A sales representative for a struggling computer supply firm has a chance to close a multimillion-dollar deal for an office system to be installed over a two-year period.

Because the manufacturer is having difficulty meeting the heavy demand for the popular model, the sales representative is not sure that sub- sequent deliveries can be made on time.

Any delay in converting to the new system would be costly to the customer; however, the blame could be placed on the manufacturer. Should the sales representative close the deal without advising the customer of the problem? The Research Director. The director of research in a large aerospace firm recently promoted a woman to head an engineering team charged with designing a critical component for a new plane. She was tapped for the job because of her superior knowledge of the engineering aspects of the project, but the men under her direction have been expressing resentment at work- ing for a woman by subtly sabotaging the work of the team.

The director believes that it is unfair to deprive the woman of advancement merely because of the prejudice of her male colleagues, but quick completion of the designs and the building of a prototype are vital to the success of the company.

Should he remove the woman as head of the engineering team? The Marketing Director. The vice president of marketing for a major brewing company is aware that college students account for a large proportion of beer sales and that people in this age-group form lifelong loyalties to particular brands of beer. The executive is personally uncom- fortable with the tasteless gimmicks used by her competitors in the industry to encourage drinking on campuses, including beach parties and beer-drinking contests.

Should she go along with the competition? The CEO. The CEO of a midsize producer of a popular line of kitchen appliances is approached about merging with a larger company. The terms offered by the suitor are very advantageous to the CEO, who would receive a large severance package. The shareholders of the firm would also benefit, because the offer for their stock is substantially above the current market price. The CEO learns, however, that plans call for closing a plant that is the major employer in a small town.

The firm has always taken its social responsibility seriously, but the CEO is now unsure of how to balance the welfare of the employees who would be thrown out of work and the community where the plant is located against the interests of the shareholders. He is also not sure how much to take his own interests into account. Should he support a merger that harms the community but benefits the shareholders and himself? These four examples give some idea of the ethical issues that arise at all levels of business.

The individuals in these cases are faced with questions about ethics in their relations with customers, employees, and members of the larger society. Frequently, the ethically correct course of action is clear, and people in business act accordingly. Exceptions occur, however, when there is uncertainty about ethical obligations in particular situations or when considerations of ethics come into conflict with the practical demands of business.

The sales representative might not be sure, for example, about the extent to which he is obligated to provide information about possi- ble delays in delivery. And the director of research, although convinced that discrimination is wrong, might still feel that he has no choice but to remove the woman as head of the team in order to get the job done. In deciding on an ethical course of action, we can rely to some extent on the rules of right conduct that we employ in everyday life.

Deception is wrong, for example, whether we deceive a friend or a customer. And corporations no less than persons have an obligation not to discriminate or cause harm. However, business activity also has some features that limit the applicability of our ordinary ethical views. In business settings, we encounter situations that are significantly different from those of everyday life, and business roles place their own obligations on us.

For example, the CEO, by virtue of his position, has responsibilities to several different constituencies, and his problem in part is to find the proper balance. Two Distinguishing Features One distinguishing feature of business is its economic character. In the world of business, we interact with each other not as family members, friends, or neighbors, but as buyers and sellers, employers and employees, and the like.

Trading, for example, is often accompanied by hard bargaining, in which both sides conceal their full hand and perhaps engage in some bluffing. Employment is also recognized as a special relationship, with its own standards of right and wrong.

[Boatright, John Raymond] Ethics and the Conduct o

F] Ethics and the Conduct of Business Read Online Details Details Product: Ethical Issues in Developing Business Policies Ethics and the Conduct of Business is a comprehensive and up-to-date discussion of the most prominent issues in the field of business ethics, and the major positions and arguments on these issues. Numerous real-life examples and case studies are used throughout the book to increase understanding of issues, stimulate class discussion, and show the relevance of the discussion to real-life business practice. Note: The focus of Ethics and the Conduct of Business is primarily on ethical issues that corporate decision makers face in developing policies about employees, customers, and the general public. The positions and arguments on these issues are taken from a wide variety of sources, including economics and the law. Not only because the law addresses many ethical issues, but also because the management decision-making process must take into account relevant legal practices. Engage Students - This book employs fifty case studies that firmly illustrate the wide variety of issues pertaining to business ethics and enable students to engage in ethical decision making. Support Instructors - Teaching your course just got easier!

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All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without either the prior written permission of the publisher or a licence permitting restricted copying in the United Kingdom issued by the Copyright Licensing Agency Ltd, Saffron House, 6—10 Kirby Street, London EC1N 8TS. All trademarks used herein are the property of their respective owners. Ethics in the World of Business John R. Boatright 1 2.

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ПООБЕДАЕМ У АЛЬФРЕДА. В 8 ВЕЧЕРА. В другом конце комнаты Хейл еле слышно засмеялся.

 У немца. Его взял немец. Дэвид почувствовал, как пол уходит у него из-под ног. - Немец.

 Ну видите, все не так страшно, правда? - Она села в кресло и скрестила ноги.

ГЛАВА 118 - Это может служить доказательством, - решительно заявил Фонтейн.  - Танкадо избавился от кольца. Он хотел, чтобы оно оказалось как можно дальше от него - чтобы мы его никогда не нашли. - Но, директор, - возразила Сьюзан, - это не имеет смысла.

Хотя и ненамеренно, именно Стратмор привел Дэвида Беккера в АНБ в тот памятный день, позвонив ему по телефону. Мысли Сьюзан перенеслись в прошлое, и глаза ее непроизвольно упали на листок бумаги возле клавиатуры с напечатанным на нем шутливым стишком, полученным по факсу: МНЕ ЯВНО НЕ ХВАТАЕТ ЛОСКА, ЗАТО МОЯ ЛЮБОВЬ БЕЗ ВОСКА. Дэвид прислал его после какой-то мелкой размолвки. Несколько месяцев она добивалась, чтобы он объяснил, что это значит, но Дэвид молчал. Моя любовь без воска.

Беккер получил четкие инструкции: ни к чему не прикасаться, ничего не читать.


Twojtaimaivi 04.06.2021 at 07:51

Title: Ethics and the conduct of business / John R. Boatright, Loyola. University Chicago, Jeffery D. Smith, Seattle University. Description: Eighth edition. | Boston:​.