I agree with Ryan Wallichi’s idea that the ethical dilemma arises from the view that the company decides to raise the price of necessity, thus acting against the utilitarian goal. The company invests in an industry that should be promoting the well-being of the people while considering the profitability of its activities. In his discussion, he raises the question of whether failing to set the highest prices meets the profitability interest of the company. I agree with the idea of the concern for profitability. However, the company had been making profits before the price hike, indicating that the decision to increase the price compromises the utilitarian principle as increasing the price by $476.
I agree with Dina Rivera that it was unethical for EpiPen to misuse its monopoly in the market by increasing the prices of the drugs. Before the price hike, the market was competitive, and the exit of some of the firms from the pharmaceutical industry created room for the firm to increase the prices of the drugs. The ethical concern for pharmaceuticals is to improve the welfare of the citizens by creating access to improved healthcare. Firms focus on maximizing profitability, but this should not be the reason to violate the corporate social responsibility of the organization (Trevino & Nelson, 2016). Failing to address the healthcare needs of the people shows that the company does not serve the interests of the citizens because the daily struggle by citizens does not make it easy to afford the drugs.
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I agree with Callison’s posts that profitability is a sign of the success of a company and the ability to succeed in a competitive market. Managers measure their success by accessing the impacts that their activities cause to profitability. However, pressures from stakeholders create a chance for juniors to engage in unethical behaviors violating the corporate social responsibility of the people. For instance, corporate social responsibility for organizations is to fulfill the needs of the citizens by offering reasonable prices on products (Trevino & Nelson, 2016). Therefore, lying from the managers is unethical because it the public a false image of the company accompanied by exploitation of the public through prices.
References
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
