Business Ethics and Corporate Responsibility
Added on 2020-01-07
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Business Ethics
TABLE OF CONTENTSintroduction......................................................................................................................................33.1 Assessing the role of AstraZeneca act as a moral agent........................................................33.2 Analyse mechanism employed by AstraZeneca for achieving employee involvement andempowerment...............................................................................................................................44.1Researching on current ethical issues affecting AstraZeneca.................................................54.2 Report on improving ethics of business operation ................................................................64.3 Designing suitable ethical code For AstraZeneca..................................................................64.4 Describing ethical codes overcoming the drawbacks identified above.................................7Conclusion.......................................................................................................................................9References......................................................................................................................................112
INTRODUCTIONBusiness Ethics which is also known as corporate ethics is a form of professional andapplied Moral. It also analyses Moral and Ethical problems faced by the organisations.Astrazeneca is the UK based pharmaceutical and biologic company. It is the world's 7th largestpharmaceutical company offering services to 100 countries of the world. It includes wideportfolio of its product in the areas of major diseases such as cancer, gastrointestinal andcardiovascular. It has been listed on London Stock Exchanges (About AstraZeneca, 2016). ThisReport is based on moral obligations as-well-as social responsibilities of AstraZeneca. t TheCompany is following various moral and social responsibilities to maintain workplace andemployee relationships. Further, it will discuss on the mechanism followed by the Company forinvolvement and empowerment of its employees. It also focus on various ethical issues occurringin AstraZeneca organisation. Further, the Report will concern on the ways of improving theseethical issues affection operations of the cited firm (Boda and Zsolnai, 2016). 3.1 Assessing the role of AstraZeneca act as a moral agentMoral Agent can be a person or anything that i takes responsibility for managing thedecisions and behaviours of the organisation. In other words, he/she is one who is capable ofacting with reference to wrong or right doings. It enables employees of organisation to havechoices and also provide them the power to choose (Ismaeel and Blaim, 2012). AstraZeneca is one of the most honoured ethical businesses in the UK. It follows variousunique business ethics and integrates in order to develop trust and fulfil its social and ethicalresponsibilities towards the society.Following characteristics have been followed By AstraZeneca to maintain ethics inbusiness:For Society – It has set following code of conducts for maintaining high ethical standardsand core commitments for its local communities in the world. It is consistent indelivering high ethical standards of sales and marketing practices to society. Also, itensures ethical behaviours of third party while dealing with it (Ghazali, 2015. ). For Suppliers- It deals witharound 45,000 suppliers across the world in order to ensuretheir business ethics. AstraZeneca has came up with new process that is Third party Risk3
management. where it identifies the improvements required to be made by the suppliers.In order to meet the standards of the Company. Also, it has been contentiouslyperforming auditing of the direct material suppliers to ensure their health safety practicesand quality (Zsolnai, 2011). Responsible research for safety of patients – Vision followed by the AstraZenecaorganisation I that want to be recognised for its high quality sciences and cures made forthe various deceases to win the trust of its patients. They believe that they are responsiblefor the safety of their patients and want to earn their trust. In this, research has beenconducted with all relevant external laws (Whyatt, Wood and Callaghan, 2012). Its codeof conduct also requires a compliance with its bio ethical policies. It has set variouscommitments beyond legal compliances and justifies ethical standards, behaviour andprinciples governing all research and development.Employees and workplace relationship – It has made the entire process for its employeesas easy as it can make employees to do the right thing. They are provided with highstandards to provide training for maintaining ethical standards in the organisation.AstraZeneca has ensured that employees should be comfortable in raising their concernswith HR, Legal compliance as-well-as line managers. It ensures involvement andempowerment of employees within the organisation (Bradshaw, 2013). 3.2 Analyse mechanism employed by AstraZeneca for achieving employee involvement andempowermentEmployees empowerment means worker are being recognised by their good workmanagement. Whereas worker participation means staff is actively being encourage by themanagement. Administration of AstraZeneca plays a crucial role in attaining empowerment of itsworker. It should provide training to its employees which leads in increasing knowledge,expertise of employees working in organisation. It also boosts morale of worker and motivatesthem to perform their jobs effectively and efficiently (Whyatt, Wood and Callaghan, 2012). After the employees become well trained and educated regarding problem solvingstrategies, management then empower or transfers some decision making authorities to them.This also leads to increase the morale of worker as they feel that management has faith in them.4
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