Ethics Case Study: Panalba
Some of the specific business and organizational issues confronted by the board members that contributed to the conflict between professional and personal conflict of ethical behavior are: Vice Chairman of the Board who had a profit maximizing value tried to coerce the chairman of the board by suggesting that the belief that the chairman had in ‘Banal’ being beneficial for the people made him introduce the drug into the market and that if the chairman had no such belief he would not have introduced the drug into the market In the first place.
President, Executive UP, Stockholder: These stockholders own considerable number of shares In Option their business and organizational decisions In the past have been taken In the best interests of the stockholders, that Is to maximize profits. Employee representative: The employee representative might be Influenced by the fact that recalling or stopping the production of ‘Banal’ would put many workers currently commissioned at the ‘Banal’ drug division without jobs and as such the Employee representative might take decision based on the interests of the workers at Option.
All these roles have one or more compelling reasons to take or recommend decisions that would be based off of maximizing profits or securing the Jobs of current workforce by ignoring the ill effects if ‘Banal’ persists in the market thereby acting in a socially irresponsible way. Recommended action: After perusing this case and all of the facts presented to us, I have come to a decision.
In light of recent events, I have decided that the best solution for both our domestic and International markets Is to stop the production of Banal’ Immediately, but allow what I have already made to be sold, I feel that I needed to make a unified choice for each of these markets because I feel so strongly about the safety of the consumers. I don’t feel that it would be right to unnecessarily compromise the safety of any of our consumers, no matter where they live.
While I understand that our company needs to act in a socially responsible manner to ensure the safety of our consumers, I also know that I have economic responsibilities to our shareholders. This is why I felt that I needed to choose a solution that offered some type of compromise. Although I strongly contemplated recalling ‘Banal’ & destroying it, after giving it much thought I ultimately decided against it. I feel our solution will better help protect the safety of our consumers while delaying any future profit losses.
While I have taken Into account and value the Fad’s pollen of Banal’ I also value the opinions of the doctors who prescribe It. I feel that I need to make sure these doctors Inform their patients of all of possible risks associated with to stop taking ‘Banal’ abruptly or to take the time they need to roll off of ‘Banal’ before medications. I feel it is unfair to our consumers to abruptly stop providing ‘Banal’, and that by allowing what I have to be sold I will be offering our consumers transitional period to roll off of ‘Banal’ and help remedial any adverse impact that switching medications might have on them.
Experience: After donning the role of a stockholder, I believe my position to a certain extent influenced me to take socially irresponsible decisions. As my position was one whose decisions, which when taken in favor of the greater society would have hurt the company’s bottom line. I believe, subconsciously my role engaged me to believe that my sole purpose is to maximize or retain the profits of Option. The fact that I was working in a group increased the pressure that I need to base my decisions that would not endanger the currently profitable drug and that my viewpoint has to be the dominant one in the group. Lesson learnt:
I should not place my own interests and value them ahead of our faith, family, friends, and others. Below are my personal leadership ethics statements: My Personal ethics at its core is the process of learning what is right and wrong, and then doing what is right. I believe that there is no place for arrogance and greed in our personal lives or in the business world. Grace and humility are required in all of our lives. Practice thoughtful self-control when responding to others. Conduct myself with integrity, fidelity, and honesty and take responsibility for my actions, and only make agreements, which I intend to keep.