No. the decision of the drug manufacturer to stop supplying the Canadian drug market with drugs does not go in line with the mission of the company. A company’s mission should be the guide of all of the activities and actions a company makes, and thus spells the overall path, goals, and guide to decision making of the company (Haschak, 1998). The goal of the company is to improve people’s lives and by cutting the medical supply to the Canadian markets, the company does the contrary. Most Americans and especially the elderly depend on the Canadian pharmacies for their drugs, limiting the supply worsens their lives’ quality because they suffer either from the lack of medication or from increased costs if they decide to acquire their medication in the US. Therefore, GSK goes against its goals.
Corporate stakeholders are those parties interested in a company’s projects. They are those individuals or parties who can get affected or those who can affect a business as a whole. Primary stakeholders are those individuals who get affected the most by the outcomes of the actions of a company. Secondary stakeholders are those individuals who are indirectly affected by the results of a company’s actions (Post, 2002). In this case, the primary stakeholders of the company are the Canadian pharmacies. The limiting of the supply of medicine to their stores had a number of negative effects on them. One effect is that it reduced their supply, and, therefore, stock reducing their sales volume and profitability. Another effect the limiting of supplies did to the Canadian pharmacies was that the actions of the company cost them their clients because the pharmacies did not have enough supplies to keep their customers satisfied.
The secondary stakeholders of GSK are the users of its products in the US market. The limiting of the drugs in the Canadian pharmacies had numerous negative effects on these customers. For example, their health was put in jeopardy because they could not access their cheap drugs anymore, and their finances were negatively affected because they had to pay more for their drugs in the US pharmacies.
According to the utilitarian perspective, what the company did was unethical. According to the approach, the appropriate action course is the one that maximizes or increases the overall ‘good’ (Cornman, et al., 1992). This means that the action’s moral worth is depended on the outcome. The outcome of the action of GSK was that more ailing and elderly patients were put in difficult situations when it came to the accessibility of cheap medication. The result of the action was not ‘good’ for anyone, not even for the company.
However, when it comes to the perspective of individual rights, the company acted ethically because it has such rights as right to voluntary contractual exchange and right to property. This perspective allows an individual or a company like GSK to defend its rights (Cornman, et al., 1992). The company acted ethically according to this perspective because it was defending its rights.
This does not agree with the Justice or fairness perspective, which focuses on how fair the actions of an individual are in distributing burdens and benefits to the others (Rawls, 1971). The company distributed more burdens to its stakeholders than benefits so the actions were not ethical.
According to two of the above perspectives, the company did not act ethically in its decision to limit medical supplies. The company did more bad than good and that is the reason why I also think that it did not act ethically. The company acted that way for its own benefit and not for the benefit of the whole.
Corporate governance mechanisms are meant to decrease the effects that result from adverse selection and moral hazards. GSK can utilize these mechanisms to prevent future PR issues. One mechanism that the company can use is government regulation (Zingales, 1997), of the over the internet sales of medical supplies. The company can utilize these controls to control and contain the US customers from buying from the Canadian pharmacies.
Another mechanism the company can use is competition (Zingales, 1997). The company can come up with competitive prices for the products that would attract more customers from the US.
Cornman, James, et al. (1992). Philosophical Problems and Arguments – an Introduction. Indianapolis, IN Hackett Publishing Co.
Haschak, P.G. (1998). Corporate statements: the official missions, goals, principles and philosophies of over 900 companies. Jefferson, N.C: McFarland
Post, J. (2002). Redefining the Corporation: Stakeholder Management and Organizational Wealth. Stanford University Press
Rawls, J. (1971). A Theory of Justice. Harvard University Press.
Zingales, L. (1997). Corporate Governance. NBER WP 6309.
Are you busy and do not have time to handle your assignment? Are you scared that your paper will not make the grade? Do you have responsibilities that may hinder you from turning in your assignment on time? Are you tired and can barely handle your assignment? Are your grades inconsistent?
Whichever your reason is, it is valid! You can get professional academic help from our service at affordable rates. We have a team of professional academic writers who can handle all your assignments.
Students barely have time to read. We got you! Have your literature essay or book review written without having the hassle of reading the book. You can get your literature paper custom-written for you by our literature specialists.
Do you struggle with finance? No need to torture yourself if finance is not your cup of tea. You can order your finance paper from our academic writing service and get 100% original work from competent finance experts.
While psychology may be an interesting subject, you may lack sufficient time to handle your assignments. Don’t despair; by using our academic writing service, you can be assured of perfect grades. Moreover, your grades will be consistent.
Engineering is quite a demanding subject. Students face a lot of pressure and barely have enough time to do what they love to do. Our academic writing service got you covered! Our engineering specialists follow the paper instructions and ensure timely delivery of the paper.
In the nursing course, you may have difficulties with literature reviews, annotated bibliographies, critical essays, and other assignments. Our nursing assignment writers will offer you professional nursing paper help at low prices.
Truth be told, sociology papers can be quite exhausting. Our academic writing service relieves you of fatigue, pressure, and stress. You can relax and have peace of mind as our academic writers handle your sociology assignment.
We take pride in having some of the best business writers in the industry. Our business writers have a lot of experience in the field. They are reliable, and you can be assured of a high-grade paper. They are able to handle business papers of any subject, length, deadline, and difficulty!
We boast of having some of the most experienced statistics experts in the industry. Our statistics experts have diverse skills, expertise, and knowledge to handle any kind of assignment. They have access to all kinds of software to get your assignment done.
Writing a law essay may prove to be an insurmountable obstacle, especially when you need to know the peculiarities of the legislative framework. Take advantage of our top-notch law specialists and get superb grades and 100% satisfaction.
We have highlighted some of the most popular subjects we handle above. Those are just a tip of the iceberg. We deal in all academic disciplines since our writers are as diverse. They have been drawn from across all disciplines, and orders are assigned to those writers believed to be the best in the field. In a nutshell, there is no task we cannot handle; all you need to do is place your order with us. As long as your instructions are clear, just trust we shall deliver irrespective of the discipline.
Our essay writers are graduates with bachelor's, masters, Ph.D., and doctorate degrees in various subjects. The minimum requirement to be an essay writer with our essay writing service is to have a college degree. All our academic writers have a minimum of two years of academic writing. We have a stringent recruitment process to ensure that we get only the most competent essay writers in the industry. We also ensure that the writers are handsomely compensated for their value. The majority of our writers are native English speakers. As such, the fluency of language and grammar is impeccable.
There is a very low likelihood that you won’t like the paper.
Not at all. All papers are written from scratch. There is no way your tutor or instructor will realize that you did not write the paper yourself. In fact, we recommend using our assignment help services for consistent results.
We check all papers for plagiarism before we submit them. We use powerful plagiarism checking software such as SafeAssign, LopesWrite, and Turnitin. We also upload the plagiarism report so that you can review it. We understand that plagiarism is academic suicide. We would not take the risk of submitting plagiarized work and jeopardize your academic journey. Furthermore, we do not sell or use prewritten papers, and each paper is written from scratch.
You determine when you get the paper by setting the deadline when placing the order. All papers are delivered within the deadline. We are well aware that we operate in a time-sensitive industry. As such, we have laid out strategies to ensure that the client receives the paper on time and they never miss the deadline. We understand that papers that are submitted late have some points deducted. We do not want you to miss any points due to late submission. We work on beating deadlines by huge margins in order to ensure that you have ample time to review the paper before you submit it.
We have a privacy and confidentiality policy that guides our work. We NEVER share any customer information with third parties. Noone will ever know that you used our assignment help services. It’s only between you and us. We are bound by our policies to protect the customer’s identity and information. All your information, such as your names, phone number, email, order information, and so on, are protected. We have robust security systems that ensure that your data is protected. Hacking our systems is close to impossible, and it has never happened.
You fill all the paper instructions in the order form. Make sure you include all the helpful materials so that our academic writers can deliver the perfect paper. It will also help to eliminate unnecessary revisions.
Proceed to pay for the paper so that it can be assigned to one of our expert academic writers. The paper subject is matched with the writer’s area of specialization.
You communicate with the writer and know about the progress of the paper. The client can ask the writer for drafts of the paper. The client can upload extra material and include additional instructions from the lecturer. Receive a paper.
The paper is sent to your email and uploaded to your personal account. You also get a plagiarism report attached to your paper.
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.Read more
Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.Read more
Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.Read more
Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.Read more
By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.Read more