The discussion of the harm to the unborn tends to accentuate the need for proper stakeholder analysis so that all issues will be included in the decision framework. The issue of proper treatment of the unborn also underscores the need to rank the stakeholders as to their ability o withstand the impacts of the proposed decision.
The discussion of the harm to the unborn tends to accentuate the need for proper stakeholder analysis so that all issues will be included in the decision framework.
The issue of proper treatment of the unborn also underscores the need to rank the stakeholders as to their ability o withstand the impacts of the proposed decision. This case seems to fit the philosophical and the Modified 5-Question Approach quite well, but leads easily to a discussion of the need to expand the approach to include cost-benefit analysis instead of just profit, and social contract ethics to judge fairness.
The prospect of Vioxx ethical issues blowing is one usually close with. In a second session, lead off with the Ford Pinto Case which illustrates how much our perception of the value of life and health have changed, and how a properly crafted cost-benefit analysis is need to keep corporations out of trouble.
The need to bring future impacts into the analysis is also critical and this case shows how this may be done. For the traditional bottom-line manager, showing the short-term profit impacts and the longer-term impacts on others will be revealing.
No intelligent executive should be without this information and no decision based solely on short-term profit is likely to be considered reasonable in the future.
Students may have heard Of cost-benefit analysis before, and may think it to be too subjective to be worthwhile.
I can usually overcome this by illustrating tit a few examples from the health area like the costs of an illness caused by work which results in time off, medical treatment, drugs and hospital time. Also observe that it is usually better to make decisions based on data which is generally correct than precisely wrong.
There is an overlap, but also some add-ones. I stress the desirability of adding on what the decision calls for — what techniques are needed to cover all the bases. This leads to a discussion of when one method is more applicable than another.
You will find author class members will gravitate to one approach or another depending on their personal preferences. When combining the approaches, it is absolutely essential is that no approach to ethical decision making is likely to be complete unless all four of the fundamental principles are present: You will find that your students often forget to include all four when they are analyzing a problem and need to be reminded.
In addition, you should work with a short problem — perhaps one assigned as a hand-in — to show the students how a solution can be improved on an iterative basis, with each iteration being Viewed as a new stakeholder impact analysis.
The chapter now has four illustrations of comprehensive ethical decision making that provide very useful application guides related to: Case and is offered in order to expose readers to the analytical approach I would use on such matters. I would suggest that accounting students be directed to consider this illustrative example carefully and be ready to respond or pose questions on it in class.
A full analysis is not possible on every dimension due to the lack of information, but indications are given as to what information ought to be sought and what to do with it. In fact, the ranking of stakeholders to give affect to their ability to withstand the impact of the proposed adjustment is quite interesting and goes beyond he levels suggested in the chapter.
The readings by Brooks cost-benefit analysis and Tucker 5-question approach are specific to the sessions and are assigned to add background understanding. You will find that this sequence is very well received by your students who will consider the prospect of using the suggested approaches far more realistic after, than before.
Invariably, the students begin to use them in other classes like finance, marketing and strategy. So be prepared for your colleagues to drop in and see you for background material. Do not overlook the important material on developing a more ethical action moral imagination ; common ethical decision making pitfalls; and illustrations of the ethical decision making approaches to topics of great interest to students and practitioners: When does aggressive accounting become fraudulent?
Also regard the Smokers are Good… Case as one that will excite some controversy. The ethics audit questionnaire is provided to give a glimpse of what is in the future of the profession as assurance work broadens.The case highlights the ethical issues involved in Vioxx's controversy and examines the way Merck handled the entire issue.
Business Ethics Case Studies Collection The Recall of Vioxx. The purpose of this paper is to make an exposition of issues that the recall case entailed including the ethical issues that were involved, and the propriety of DTC advertising method.
The legal implications of the recall and the effect of an enactment of a law by the Congress to prevent the use of DTC method of advertising will also be examined. Vioxx Ethical Issues Essay. The stakeholders are easy to identify – for the most part – and the class usually forgets to consider the unborn infants - Vioxx Ethical Issues Essay introduction.
The discussion of the harm to the unborn tends to accentuate the need for proper stakeholder analysis so that all issues will be included in the decision framework. Merck's Vioxx Scandal Highlights Pharma Ethics Issues “The industry is doing things now that I don’t think are right,” said former Merck & Co.
chief executive P. Roy Vagelos earlier this year. High prices for drugs without profound medical value “are turning people against the industry.". Jun 29, · In the complex global business environment of the 21st century, companies of every size face a multitude of ethical issues.
Businesses have the responsibility to develop codes of conduct and. with the lead, “Vioxx: Our biggest, fastest and best launch ever.”5 New Vioxx sales came at an important time for Merck. The exclusive patents to four major drugs were scheduled to expire in and