Case Study 10.1: "Boosting the Cost of the EpiPen: Price Gouging or Good Business?"
According to the case study, Mylan, a company that produces Epipen medication, periodically raises its prices despite being vital for patient survival. The ethical issue facing the company is hiking the price of a life-saving product without the consideration of the stakeholders. At first, the drug was selling at $124, but the price increased to $600. It, therefore, exploits the buyer's essential needs (Bowie, 2017). Ethically, essential products should not have unjustified profits.
According to the utilitarian principle, the goals of action should maximize happiness for all affected by the actions of a business . A utilitarian, is opposed to the actions as Mylan, was generating satisfactory profits before the price hike and during the time the product was affordable. The extreme hike, therefore, outraged the stakeholders than Mylan is pleased and puts the lives of many people at risk. The behavior also violates corporate social responsibility through individualism (Trevino & Nelson, 2016) . The company is only after gaining high profits instead of caring for the significant number of people that require the drug for survival.
Delegate your assignment to our experts and they will do the rest.
Case Study 11.3: "The Public Benefit Corporation and Profit-With-Purpose Businesses
In the case scenarios, the employees are influenced to manipulate the accounting reports of their respective companies with threats of losing their jobs. The ethical issue in the cases involves going against the company's policies to allow the manipulation of the account reports without taking action for fear of losing a job. The ethical principles require all the individuals handling the financial reports of a company to be straight forward and honest in their business relationships. The moral values violated, therefore, include integrity (Bowie, 2017). In both cases, the employees fail to report the discrepancies suggested by their superiors to protect their jobs.
Additionally, the employees violated objectivity by accepting to be influenced by their superiors. Ethics requires them to avoid allowing the influence of others to make a judgment. Tom fails to take any action after being threatened by Howard that he might lose his job in the case he reports the discrepancies. Anne also falls for the chief financial officer's demands after her husband told her that she could lose her job. The employees also engaged in behaviors that discredited professional conduct, thus violating the professionalism principle.
References
Bowie, N. E. (2017). Business ethics: A Kantian perspective . Cambridge University Press.
h ttps://books.google.co.ke/books/about/Business_Ethics_A_Kantian_Perspective.html?id=b gcDgAAQBAJ&redir_esc=y
Trevino, L. K., & Nelson, K. A. (2016). Managing business ethics: Straight talk about how to do it right . John Wiley & Sons. https://www.wiley.com/en-ke/Managing+Business+Ethics:+Straight+Talk+about+How+to+Do+It+Right,+7th+Edition-p-9781119194309
