Business Ethics – Pharmaceutical Dilemma

 

Business Ethics

 

 Section A : Case Studies (60 marks) 

Case Study 1: Pharmaceutical Dilemma (20 marks) 

A pharmaceutical

company has developed a new drug that can save lives but is prohibitively expensive for most patients. The company faces pressure from shareholders to maximize profits, while patient advocacy groups are calling for more affordable pricing.

1. Discuss the ethical considerations the pharmaceutical company must weigh in setting the price of the new drug.
2. What are the potential consequences of setting a high price versus a lower, more accessible price for the drug?

 

Case Study 2: Environmental Responsibility (20 marks)

A manufacturing company has been discharging waste into a nearby river, leading to water pollution and harm to local wildlife and communities. The company could invest in cleaner technology to reduce its environmental impact, but this would significantly increase production costs and reduce profits.

1. Analyse the ethical responsibilities of the manufacturing company towards the environment and the local community.
2. Recommend a course of action for the company, considering both ethical and economic factors.

 

 Case Study 3: Workplace Discrimination (20 marks)

A multinational company has been accused of gender discrimination in its promotion practices. An internal investigation reveals that women employees are consistently overlooked for promotions despite having similar qualifications and performance records as their male counterparts.

1. Discuss the ethical implications of gender discrimination in the workplace.
2. What steps should the company take to address the issue of gender discrimination and promote equality within the organization?

Pharmaceutical Dilemma

Section B : Short Answers – Attempt any 4 (20 Marks)

1. Define business ethics and explain why it is important in the corporate world.
2. Discuss the role of stakeholders in business ethics. Who are the key stakeholders in a typical business, and how can their interests be balanced?
3. Explain the concept of social responsibility as it relates to business. How can a company be socially responsible in its operations?
4. What is the difference between legal compliance and ethical behaviour in business? Can a company be legally compliant but unethical?
5. Discuss the ethical implications of insider trading. Why is insider trading considered unethical, and what are the consequences for individuals and the market?
6. Analyse the ethical issues surrounding the use of sweatshops in the global supply chain. What are the arguments for and against the use of sweatshops?

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