Complex and contentious areas of business ethics would include the effect a petrochemical company's actions have on the environment or the obligation of a pharmaceutical company to make its drugs available to developing countries....
The four articles to be reviewed are; “The Social Responsibilities of Business is to Increase its Profits” by Milton Friedman, “The Relevance of Responsibility to Ethical Business Decisions” by Patrick E.
In the field of environmental ethics, there has been significant scholarship in developing a duty ethics based on the inherent value of nature, most notably by Paul Taylor.
The focus ethical frameworks that have been use to provide my final recommendations for this scenario are Consequentialism, Non-Consequentialism, Virtue Ethics and Care Ethics....
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Ethics are important not only in business but in academics and society as well because it is an essential part of the foundation on which a civilized society is built.
"Ethics refers to well-founded standards of right and wrong that prescribe what humans ought to do, usually in terms of rights, obligations, benefits to society, fairness, or specific virtues.” The pharmaceutical industry confronts several dilemmas every year.
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This paper supports Kant's theory that though man may incorporate personal and sometimes selfish considerations into the process of ethical determinations, this does not negate the moral applications of these choices.
Under the three schools of ethical thought, Utilitarianism, Deontological and Virtue Ethics, you will find that there are varied and different views of how we come by our value systems and how we determine right and wrong.