Ethical Issues In Business Harvard Case Solution & Analysis

The international business organizations have become uncertain, complex and fast-moving than ever before. The working environment of the businesses on the global platform is changing rapidly, which leads the companies to face multiple challenges and issues such as unethical standards, cultural differences, economic and political differences and diversification issues. Moreover, other challenges and issues in the workplace include innovation, the inflexible working environment, power distance and high competition among the employees and competitors. Ethical diversity in the workplace is considered as an advantage in this global world, and not as a disadvantage in gaining the opportunity.

After analyzing the ethical issues in different companies, especially in Merck &Co. Case, it is highly important for the organizations to understand the importance of ethics that would help the company to gain the customers and competitive advantage in the long run. According to the Merck case, the company is facing ethical dilemmas of whether to invest in their newly discovered drug Ivermectin or not. The theory of Utilitarianism suggests ethical decision making to the organizations in which rights of the customers and employees, social consideration and stake of regulations are designed[2]. Therefore, Merck should initiate a right approach to protect the human from the fatal disease and invest for the betterment of humanity.

Moreover, some other ethical theories and concepts that will help the international business to analyze that whether the company’s business model and its core operations are working under ethical standards or not. According to the Virtue Ethics approach, the company should develop a strong relationship with its customers, employees, suppliers, stakeholders, business partners and other facilitators[3]. The virtue ethics approach helps the management of the organization to protect and respect the human rights even if the law is absent. Furthermore, this approach also helps to identify the threats regarding the human rights and the ethics.

According to the duty of diligence, the company requires adherence to the ethical standards of reasonable care or diligence while performing any acts that could predictably harm customers or employees[4]. The managers and employees should identify ‘duty of diligence’ to actively engage in the company’s affairs. Moreover, this approach will safeguard the rights and duties of individuals inside and outside of the organization. Furthermore, it is important to include the legislation government and legal firms in making policies and procedures.

According to the action ethics approach, the management should develop an effective leadership style and good communication in the company[5]. This strategy will also help Merck to communicate effectively with the investors that why capital investment in drug research and development is important. Moreover, this strategy will help the company to build a strong relationship with the investors and make them understand the importance of good-cause drugs, which help to save millions of people from the River Blindness. Furthermore, the leadership style and good communication help employees, business partners, and stakeholders to understand the moral principles and values of the company.

Behaving ethically and morally in the business environment is widely considered as good business practice. The national and international businesses face ethical issues almost every day and this leads the companies to deal with such issues, in order to satisfy the customers and employees in the long run. From an ethical perspective, it is important for the company to be socially responsible to maximize its positive impact and minimize its negative impact on society.Ethical Issues In Business Case Solution

Moreover, the ethical and social responsibility has been recognized as laws imposed by the government that encourages businesses to adhere to society’s values, standards, and attitudes. According to the de on to logical ethical theory, when analyzing the ethical dilemma, the company should confirm their obligations and duties. Furthermore, this theory will help Merck &Co. to understand the core values and principles of the company because the real money exists in the value creation, not in the pursuit of profit...................

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