Business Ethics and Responsible Management

Business Ethics and
Responsible
Management

Table of Contents
INTRODUCTION...........................................................................................................................3
PART 1............................................................................................................................................3
PART A...........................................................................................................................................3
Importance of business ethics within the organisation...........................................................3
Issues of business ethics in the organization given in case study...........................................3
Role of Business within the society........................................................................................4
Effect of business activities on Stakeholders.........................................................................5
Example of good and bad ethics.............................................................................................6
Recommendation....................................................................................................................6
REFERENCES................................................................................................................................6
PART B............................................................................................................................................8
Discussion on two ethical theories.........................................................................................8
REFERENCES................................................................................................................................9
PART 2..........................................................................................................................................10
Reflective essay of ethical Leader........................................................................................10
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................12

INTRODUCTION
The term Business ethics can be defined as the set rules and obligations which are needed
to be followed by the organisation in order to accomplish the target which organisation wants to
accomplish. It is important to understand that any of the organisation should not take those
business decisions that impacts it negatively. The performance of company can easily decline if
unethical decisions are being taken by the organisation. In context of the file, the chosen case
study is Johnson and Johnson: taking the pain away. It is one of the American based company
which is involved in the consumer healthcare and pharmaceuticals. In part A, there will be
description about the business ethics and its importance and about what are the main ethical
issues which are being faced by the company. Also, impact on the stakeholders will be
explained.
Importance of business ethics within the organisation
The following of the business ethics ensure in the organisation the guidance of values,
beliefs and decisions of business and individuals of the company. There are few ethical
requirements for business are codified into environmental rules, law, collusion, etc. all
businesses must follow code of business ethics as it helps in smooth running of all business
operations. The importance of following the business ethics is related with all the spheres of
business resulting it from the employee treatment, to working of organisation practices fairly
towards consumers and environment. In addition, it can easily improve the level of trust for
stakeholders towards the company it results in positive image of organisation.
Issues of business ethics in the organization given in case study.
The case study which is been given is of Johnson and Johnson which is an leading
American healthcare company which is well known for its consumer healthcare and
pharmaceuticals. The company has been once globed for allegations and accusations for using
drug named 'opioid' which is really harmful. The company was even law suited for using this
harmful drug. The company was aware of the side effects of this drug still they made, sold and
marketed their products. The promotions were centred around more on presenting it as benefit
drug rather than as addictive drug. The company was put in allegations for putting the profit
ahead of consumers’ safety. The state Oklahoma lawyers said that the company created a huge
marketing campaigns to take in opioid drug which caused destruction at large, the doctors