Ethical And Corporate Responsibility Of The Pharmaceutical...

Introduction In order for a business or an organization to be successful, the relationships between the employees, supervisors, clients, suppliers, investors and shareholders play an important role. These relationships are considered to be as one of the key areas to make the business function smoothly and efficiently. Not only it’s the responsibility of the organizations to promote and conduct responsible and ethical business practices at every level but, also they should make sure that their contractors and vendors are aware of these practices. In this paper I will analyze PharmaCARE’s ethical and corporate responsibility around its products, operations and commitment to stakeholders as well as several scenarios of the pharmaceutical†¦show more content†¦Based on characteristics such as interest, involvement, affect, level and position in the organization, stakeholders could be classified into three categories: †¢ Primary Stakeholders: Their interests are important to the success of business. They are directly influenced by the actions of the organization, either positively or negatively. Examples of primary stakeholders are clients, managers, team members and end users etc. †¢ Secondary Stakeholders: They play an intermediary role in the business and are indirectly influenced by the actions of the organization, either positively or negatively. Example of secondary stakeholders are financial consultants, administrative staff etc. †¢ Key Stakeholders: They are the individuals who can pass and enforce rules and regulations. They might belong to either or neither of the first two groups i.e. primary and secondary stakeholders. Example of key stakeholders are the director or CEO of the organization, elected government officials, funders etc. The stakeholders within the given scenario include PharmaCARE, one of the most successful pharmaceutical companies, Wellco, a large drugstore chain, CompCARE, a subsidiary of PharmaCARE, the healers in Colberia, employees of the various companies and the citizens of Colberia. Human Rights Issues The human rights issues connected with PharmaCARE’s work force in Colberia are a major concern, which they should address