Answer the following questions in the paper:
1. To what extent has the development of the online-only-marketplace, specifically Amazon.com, negatively effect our society?
2. What are the current cons of our culture migrating towards online shopping? What makes amazon a successful e-commerce venture?
Teamwork Report 1 TEAMWORK REPORT by [Name] Employment and Academic Skills Professor’s
Teamwork Report 1
Employment and Academic Skills
Location of Institution
A career plan refers to a set of detailed steps which one intends to follow to achieve career goals. They are useful as they help one attain career goals.Teamwork refers to the working together of a group of people to achieve a particular goal. All firms require teamwork to function effectively. It is therefore fundamental for me to acquire and be familiar with teamwork skills. Belbin team roles refer to a methodology where individuals in a team are given specific tasks to perform. Tasks are divided between nine members of the team. This is specialization of tasks. I will discuss the nine roles as I analyze my personal and work skills. I will also give my career plan which will contain my long and short term career goals.
Belbin Team Roles
I will use the example of a project involving the construction of a bridge to explain the nine Belbin team roles.
The first team role is the shaper. These are people who stimulate the whole team. They have drive and they push the other team members to move as a team. He or she motivates the other team members. They are very straightforward. In the construction project, the project manager will play this role. He or she motivates members of the staff to carry out their functions.
After the teamwork exercise I realized that I am a shaper. I am very aggressive when it comes to doing my teamwork duties. I have the ability to stimulate and drive the other team members. I used my creative skills to motivate the other team members.
He or she actualizes the plan made by the team. They bring life to what has been decided by the team. They bring ideologies into life through actualization. They follow the plan laid out by the team. The implementers of the team in the construction project would be the manual workers employed.
During the teamwork it was established that I am objective in carrying out tasks like an implementer.
This person is responsible for proof checking the whole project or task.He or she ensures that the task is completed in the manner that it was supposed to. He or she also detects errors and corrects them. At the end of the task, he makes sure that the goal has been achieved. This role in the construction project would be played by the project manager.
I lacked the diligence and critical skills required to carry out this role during the team work exercise.
This refers to the person who delegates and brings together the input and activities of all other members of the team. He or she is what system software is to a system. He or she divides the team work to the individual team members. This role would played by the project coordinator of the construction project.
During the team work, I realized I can take on the coordinator role. I can divide tasks to the team members and motivate them to execute them. I used reasonableness and fairness in distributing tasks.
The Team Worker
This refers to the member of the team who makes sure that every team member is working together with the other members. His or her role is to make sure that all members are working efficiently together. This role would be played by the project coordinator of the project.
During the team work exercise I carried out the roles of a team worker. I made sure that all other members of the team were cooperative. I also settled differences that occurred between the team members using mediation skills.
The Resource Investigator
He or she is responsible for negotiating deals on behalf of the team. He or she must possess social skills to ensure ease in negotiation of deals with strangers. This helps the team obtain facilitators and financiers. They usually possess effective communication skills to enable them to enable them function effectively. This role is carried out by the project planner.
I do posses social skills for efficient communication. During teamwork I was very social with our facilitators. I gave them assurance that our team would achieve the set goal. However, I was not able to communicate with external facilitators. I lacked the confidence required.
This refers to the person who employs creative skills to develop new ideologies for the firm. These ideologies help attain the goals of the firm. This role would be effectively carried out by civil engineer assigned to the construction project.
The Monitor- Evaluator
This refers to the person in charge of processing ideas developed and making sure that they will lead to goal realization of the firm. He or she is keen and observant. Critical thinking is also required.
I do not have the critical thinking skills required. I therefore could not perform this role in the team work exercise.
This is the person with extensive knowledge concerning the subject matter of the project. He or she possesses both training and vast experience on the subject matter. This role would be played by the civil engineer of the road construction project.
I lacked the experience that was required to play the specialist role in the team.
My goal is to develop my skills and expand my knowledge in my career. My objective is to posses all the skills required to exercise any of the roles described by Belbin. This will make me more diversified. I will therefore be more employable and I will have more career development opportunities.
Long Term Goals
These refer to goals that require more than one year to accomplish. After completing my course I would like to achieve the following long term goals
Become a specialist
This is a goal that will take me 5-10 years to complete. I will achieve this through hard work and diligence. This will enable me acquire the necessary knowledge and skill to play the specialist role in projects.
Become a plant
This is a goal I intend to achieve in 5 years. 5 years of careful analysis of case scenarios will enable me develop the creative skills required. It will enable me develop new ways of tackling project goals.
Become a Monitor- Evaluator
This is a goal that will take me 3 years to complete. Three years of experience will enable me acquire the critical thinking skills required to play the role of monitor-evaluator.
Short term Goals
These are goals I intend to achieve in less than a year.
Become a Resource Investigator
I will require 5 months to achieve this goal. I intend on carrying out tasks that will expose me to a lot of external facilitators. This will give me the necessary confidence required to communicate with external facilitators.
Become a Completer- Finisher
In 2 months, I should be able to comfortably perform this role. I will analyze various projects carried out in the work place. Together with my professional training, I will be in a position to achieve this goal.
The team work exercise was very beneficial to me. It helped me identify my areas of weakness and strengths. It helped me develop a career plan that will lead to the achievement of my career goals and ambitions. My long term and short term career goals now look more attainable.
THORNTON III, G.C., 1978. Differential effects of career planning on internals and externals. Personnel Psychology, 31(3), pp.471-476.
Dulewicz, V., 1995. A validation of Belbin’s team roles from 16PF and OPQ using bosses’ ratings of competence. Journal of Occupational and Organizational Psychology, 68(2), pp. 81-99.
Belbin, M., 2004. Belbin team roles. Book Belbin Team Roles.
Belbin, R.M., 2012. Team roles at work. Routledge.
Townend, A., 2007. Belbin Team Roles. In Assertiveness and Diversity (pp. 111-117). Palgrave Macmillan, London.
Fisher, S.G., Hunter, T.A. and Macrosson, W.D.K., 1998. The structure of Belbin’s team roles. Journal of Occupational and Organizational Psychology, 71(3), pp.283-288
Margerison, C.J. and McCann, D., 1990. Team management: Practical new approaches. Mercury Books.
Belbin, R.M., 2012. Beyond the team. Routlegde.
Chong, E., 2007. Role balance and team development: A study of team role characteristics underlying high and low performing teams. Journal of Behavioral and Applied Management, 8(3), p.202
Sommerville, J. and Dalziel, S., 1998. Project teambuilding-the applicability of Belbin’s team-role self-perception inventory. International Journal of Project Management, 16(3), pp.165-171.
Running head: PROS AND CONS OF TELECOMMUTING PROS AND CONS OF TELECOMMUTING
Negative effects of Amazon as a online marketplace on society Business Assignment Help Running head: PROS AND CONS OF TELECOMMUTING
PROS AND CONS OF TELECOMMUTING 3
Pros and Cons of Telecommuting
Q1. How can a firm know when it’s a good idea to implement telecommuting or not?
A company can assess the behaviour of employees who telecommute to assess whether the telecommuting is a good idea or not. It will be regarded as a good idea when the employees increase their productivity and a bad idea when the employees use the telecommuting as an opportunity to engage in personal affairs other than working. For example, the fact that no one was found in offices on Fridays (Snell, Morris, & Bohlander, 2016) can be an indication that the employees are taking an early weekend leave. The impacts of telecommuting on the business can also be assessed. For example, where the firm needs workers to be creative and imaginative, it would regard telecommuting as a bad idea because the employees would enhance creativity if they shared ideas. Telecommuting cannot allow such interactions.
Q2. Other pros and cons of telecommuting
Telecommuting is believed to reduce work-family conflict by allowing more employee flexibility. This is because the employee determines when to be home and when to be at work (Gajendran & Harrison, 2007). Telecommuting also allows for greater autonomy which many employees appreciate.
There is also a negative side to this issue – that is, telecommuting degrades the quality of commuter-supervisor relationship. When this is the case, the supervisor cannot adequately connect to the employees and it becomes difficult to assess the employees’ work. Secondly, the spatial distance is translated to psychological distance, and this means that there will be poor relationships between the commuting employees and the non-commuting employees (Gajendran & Harrison, 2007). The telecommuters may even be seen as parasocial and less instrumental to the shared goals.
Gajendran, R., & Harrison, D. (2007). The Good, the Bad, and the Unknown About Telecommuting: MetaAnalysis Analysis of Psychological Mediators and Individual Consequences. Journal of Applied Psychology, 1524-1541. Retrieved from http://www.apa.org/pubs/journals/releases/apl-9261524.pdf
Snell, S., Morris, S., & Bohlander, G. (2016). Managing Human Resources. Boston: Cengage Learning.
THE AUDIENCE OF FASHION TV SHOW IN CHINA by Student name Department
THE AUDIENCE OF FASHION TV SHOW IN CHINA
Department of Media and Communication
University of Leicester
Dissertation submitted for the degree of
MA Mass Communications
China plays an unquestionably significant role on the planet today. Notwithstanding its robust and rich 5,000-year history, traditional Chinese society is encountering an unheralded level of advancement. Such changes have been exhibited by the top notch improvement. Furthermore, the effect of Western social orders like the United States. From the 1980s, with the progression of top notch correspondence techniques and intercultural exchange, the outside movies and TV programs started to appear in China’s media. After 2,000, American TV exhibits filled the Chinese business part besides ended up being more essential and skilled for Chinese gatherings of spectators, and various learners and office workers got the chance to be fans of American TV shows up. The fashion business has experienced massive change inside the previous decade and is keeps on growing at an exponential rate.
If you strolled down the road in China several decades back, you would more than likely see both men and ladies wearing the Zhongshan suit, the Chinese rendition of a Western tailored suit otherwise called the Mao suit. The suit was initially named after Sun Zhongshan after he pushed for the wearing of official garments. As China experienced its modernization period, ladies started to explore different avenues regarding fashion. Numerous more extravagant dresses were starting to be seen, and additionally stockings with straps on the foot, hoses that came up to the lower leg, and different styles of hair other than just braids. Since China was gradually lifting itself up, fashion created at a moderate pace (Barnard 1996). Migrant specialists started to wear white shirts and dark dress jeans to work, regardless of the fact that their occupations comprised of physical work.
Fashion, in all its endless expressions, was once verifiably passed on through sheer direct sight, contact, sound-related portrayals, and substantial impersonations or different representations (drawings). In any case, in the current world lies far past the seasons of conveying Parisian dolls all through the sea to share the advanced looks. Fashion is passed on basically by a method for interceding carriages of that means —the media. Approximately sketched out, media involves all methodologies of aptitude that are not most critical or straight on, and in style. The vital broad communications consolidate print (magazines, daily papers, inventories); show (computerized instrumentation like TV, the radio, video, film); and the web (site pages, web journals, podcasts, online networking, YouTube). With the entry of cell contraptions and quick transmission of pictures, cellular telephones are a solid medium, as of now improving pattern scattering, publicizing and advertising, appropriation, and profit (Lei 2007).
An exhaustive examination and investigation of the close cooperative relationship between fashion and media are vital for a complete comprehension of the large force of media reputation. Photographers, trailblazers, designers, and guardians (editors, outfit planners for TV/motion picture, big names) affect and are impacted through media. The best decision makers, in any case, are people, whose relationship to aspects of fashion and media is moderated by utilizing— fashionable —social, budgetary, religious, moral, political, and social contemplations.
Before the coming of media, fashion had already been established- in any event, as people have a comprehension of the expression “media” at present. Along these lines, it’s vital first to attempt and characterize fashion, a word that in no way, shape or form stops to be reclassified through fashion researchers, creators, and the general population. Its significance is followed back to the Latin parentages: facere which signifies “to make” or “to do.” Due to the dynamic way of dialect and steadily change, the expression “fashion” at long last progressed to contain such standards as “shape” and “strategy.” At present, most English speakers likely see fashion as styles and articles of dress which are in vogue inside distinct time periods, licensed and embraced through the masses as socially intriguing items and articulations of individual taste, and also supplementary gems, footwear, and handbags.
Before the technological improvements that altered verbal trade, any nature of fashion past what used to be a fundamentally everyday outfit or attire used to be customarily passed on by a method for up close and personal experiences, from visual perceptions of others, whether at the chapel, theatre or business sector. Correspondence was led by a man to an individual premise. Uncommon sights of eminence and rich people constituted visual section to bespoke articles of clothing made using talented dressmakers and tailors, furnishing different society with a window—and much babble—in regards to leading up to now concealed examples, outlines, hues, and artisan-made embellishments.
Encountering new strings, materials, and compositions included direct contact, through collaboration with persons donning custom made woollen workmanship, for example, or by a method for luring with voyaging sellers’ specimens of fabrics and articles of clothing. The design was likewise discovered through sound-related approach, or verbal—listening to and after that envisioning what said pieces of clothing need to resemble, as when anybody adventurous returned home to report what others wore in faraway grounds. At some point or another, design advancements have been passed on and seen using substantial impersonations or diverse representations, together with outlines (from hieroglyphics to drawings to mould plates) and dolls (smaller than traditional images of dressed men and ladies).
Fashion stays to be perceived as one of the extraordinary encounters when you consider that individuals travel, go shopping, work, and eat out, all of which give reputation to fashion expressions. However, society is far expelled from the days when Parisian dolls were conveyed overseas to show the today’s depictions. Fashion is passed on to the expanding set of middle people, or media. The Zeitgeist, or soul of the events, is accessible over different continents in seconds.
In any case, a huge global advanced separation—”the opening of the segment’s most organized economies and other parts of the world,” in agreement with the related financial sectors —still exists. Working out that is huge to appreciating fashion media operations worldwide. Numerous countries still fall behind.
Whenever movies (the early 1910s) and TV (mid-1950s) got to be across the board, these two very distinct types of media have been incredibly devoted to educating and diverting the listeners, and telling a story. Television units presented the greater world within houses; the film theatre, by complexity, was at one time a destination outside the abode to which persons rushed for recreation. TV programs used to be no more immediately inquisitive about fashion expression or the pattern world, nor had been movies and filmmaking, which highlighted emotional creations (Paek and Pan 2009).
In any case, because of the way that somebody is showing up on TV or in the movies was serenely recognizable on camera, stylishly reasonable and alluring costuming used to be right away prevalent to the advance of appears and their rankings (for TV) and their surveys (film). Additionally, the impact of these venues on fashion distribution can’t be exaggerated. Actresses and actors on movies came to epitomize or even outlined the impact of glamor.
Even though early television and film tended to advocate fashion from the location the studios had been founded, subsequently the styles that had been well-known by way of discipline in more than a few international places now had a risk to go national. Publicity to various costume patterns, new designs, and humans (actors, public figures, dancers, musicians) resulted in viewers’ admiration and trend adoption, a phenomenon that shows no indicators of slowing.
This is a typical scenario in the East as well as in the West. A case for consideration is the connection between the present day China and fashion (Paek and Pan 2009). The Japanese sitcoms are credited for the Cultural Revolution among the Chinese, especially during the 1980s.
The dissemination of modern fashion was highly influenced by the advent of television and movies.
As TV established itself as a favoured medium in China and abroad and local films established new viewers on the mainland, new fashions led to the establishment of new pathways to the mainland. In this period, as fashion keeps on taking the significant point on TV and in motion pictures, a few elements of presentation persevere in the meantime others gain new footing. Some of these incorporate arrangement of the item, recompense appears reality themed projects and motion pictures gave insider subjects. The display of particular garments, extras and shoes are sponsored by the fashion business through the situation of items. The spread of celebrity events and several recompense shows are viewed notwithstanding the identities wearing them.
More intelligent people are concentrating on fashion and media. The entire scope of fashion in media expression has come to be investigated to have the capacity to get an impact on human conduct (Paek and Pan 2009).
For a greater part of people, introduction to the domain of fashion and architect stock is frequently best by a method for the promoting, as a rule including design magazines, TV, and the press. However with the World Wide Web, it is a relative latecomer, as it sounds as though showing a characteristic inclination in a yearning of more young and well-educated people. The advanced social procurements for the mental self-view create contrasts amongst the exact and extreme personality in every Chinese dialect and the norms of Western societies. The design picture and relating imagery are dispersed by a method for broad communications (Thompson and Haytko 1997).
The style business, similar to a part of the technique for humans, can be great. (Tate and Shafer 1982), joins the full communications in an assertion of festivity, thus bringing about disrespect and even sadness and discouragement for individuals, especially ladies, who consider themselves to be neglecting to keep up with the elevated levels of living (Higgins 1987; Jung et al. 2001).
In agreement with the rule of perceiving reputation, groups of onlookers could be specified to be new dynamic than a few specialists have accepted. Groups of spectators are prone to pick messages as per their previous states of mind to guard the trustworthiness of their ideologies (Hollander 2006). Then again, crowds would also specially choose focused on media and give others an objective to get the experience which makes them curious.
Publicizing and advertising that is progressively saturated with pictures of fashion and fortune have a tendency to advance, no less than a delineation sway on worldly discernments (Shrum, Burroughs and Rindfleisch 2005).
The fashion imagery are pervasively spread using different sorts of the wider communications (Thompson and Haytko 1997). Indeed, even the most accurate fashion delineations played out an essential segment in moulding thoughts, setting up standards, and encompassing necessities of magnificence, behaviour, and attractive quality (Barnard 1996). Media utilization, in this manner, involves more than information procurement or stimulation fulfilment. It is undoubtedly and unequivocally synced into all aspects everyday existence with elite examples of mass media use – inserted in examples of societal association (Rosengren and Windahl 1989: p. 203).
Maybe nothing at all speaks to present Chinese acclaimed custom than brand titles style and planner items. Considering the realities in the eighties, Chinese suppliers have encountered financial improvement. China’s twelve-month to month economic advancement cost has frequently paved the way to eight proportions to 10 % for the time of the earlier 15 years (Lei 2007).
Fashion expressions, for example, consumer aspects, contemporary buyer culture, and focus class can be experienced especially in the well-known ethnicities among the Chinese. These sorts of assets thought to be typical and materialistic, a greater amount of philosophy in themselves, have been demonstrated to have the ability to supersede ideological, political polemics and public arguments in Chinese suppliers. For instance, those between entrepreneur majority rules systems and socialism tyrant social orders, and a great deal all the more exceptionally underneath the nation’s free weight towards the economy inside a resolved administrative methodology (Paek and Pan 2009). Consumerism amusingly ties men and ladies with standard methodologies, each chronicled and new, using finished and solid items.
Confucian Consumerism can be utilized to characterize the condition of mass consumerism in China and Chinese suppliers. It coordinates Chinese wording natural qualities, for instance, Li, which focuses on domestic and communal associations (Zhao 1997). For representation, the most to a significant degree favoured merchandise are firmly identified with the family: electronic hardware. Back in the 70s, the highly contrasting Television set up used to be affirmed to the setup record of attractive customer durables. In the nineteen eighties, the record changed to incorporate hued TV set units, refrigerators, washers, and greetings strategies. Back then, the national objective used to be reflected in the home motivation behind securing the four essential customers (Zhao 1997).
Among the most conventional ideas of Confucianism, cordiality and prize are both aspects implied by Li (Zhao 1997). The Chinese individuals keep up adjacent associations with their life partner and kids, companions, and numerous social relatives utilizing trading appears now and then. At present, the entry of the consumerism in China adds to the particular standards by which makers and lavish items get to be images of economic achievement and face inside individuals’ social group.
The young are likewise tormented by other people’s perception of them in the friendly setting. One of the conceivable clarifications for the alleged certain Chinese design uniqueness is the truth in Confucian custom, the chain of command is genuine, and adjustment to workforce best practice guidelines is in actuality required. People change their self-representation to delight the measures of the general public; specifically, they endeavour to look higher and turn away looking odd.
Barnard, M. (1996). Fashion as Communication. London: Routledge
Higgins, E.T., 1987. Self-discrepancy: a theory relating self and affect. Psychological review, 94(3), p.319.
Jung, J., Lennon, S.J. and Rudd, N.A., 2001. Self-Schema or Self-Discrepancy? Which Best Explains Body Image? Clothing and Textiles Research Journal, 19(4), pp.171-184.
Lei, D., 2007. Outsourcing and China’s Rising Economic Power. Orbis, 1(51), pp.21-39.
Paek, H.J. and Pan, Z., 2009. Spreading global consumerism: Effects of mass media and advertising on consumerist values in China. Mass Communication & Society, 7(4), pp.491-515.
Reinach, S.S. and Wu, J., 2010. Chinese Fashion: from Mao to Now. The Journal of Asian Studies, 69(4), p.1221.
Rosengren, K.E., Windahl, S., Johnsson-Smaragdi, U., Sonesson, I., Flodin, B., Hedinsson, E., Höjerback, I., Jarlbro, G. and Jönsson, A., 1989. Media matter: TV use in childhood and adolescence. Ablex Publishing.
Shrum, L.J., Burroughs, J.E. and Rindfleisch, A., 2005. Television’s cultivation of material values. Journal of Consumer Research, 32(3), pp.473-479.
Thompson, C.J. and Haytko, D.L., 1997. Speaking of fashion: consumers’ uses of fashion discourses and the appropriation of countervailing cultural meanings. Journal of consumer research, 24(1), pp.15-42.
Zhao, B., 1997. Consumerism, Confucianism, communism: Making sense of China today. New Left Review, (222), p.43.
Running head: BUSINESS ETHICS 1 BUSINESS ETHICS 5 Business Ethics Name: Institution:
Running head: BUSINESS ETHICS 1
BUSINESS ETHICS 5
This paper presents an ethical dilemma facing Turing, a pharmaceutical company in New York. The issue in question, as will be expressed herein, is an extraordinary hike in prices for a critical drug. It is argued that this decision is unethical considering that it makes it impossible for low income patients to access the drug.
Overview of business
Turing Pharmaceuticals is a Zug-based pharmaceutical company with offices in New York City. It was launched by Martin Shkreli in 2015. In august 2015, the company acquired the US marketing rights to Daraprim from Impax Laboratories. As an integrated biopharmaceutical company, Turing’s primary goal is the development racialized treatments for patients with different medical needs (Ethical Dilema, 2017). The company’s mission statement reveals that the company seeks new ways to assist patients with toxoplasmosis. Upon launching in 2015, the company appointed Eliseo Salinas as the head research and development in June 2015. By December the same year, the company became involved in an ethical crisis involving an inflation of Daraprim’s prices. This issue hit the headlines and, shortly after, the founder and CEO Martin Shkreli resigned.
The ethical issue facing the company was a 5000% price hike for a drug that was used to treat HIV/AIDs, cancer and malaria patients – Daraprim. As mentioned earlier on, the company acquired the marketing rights for this drug on august 7, 2015 from Impax for $55 million. One month later, the founder and CEO Martin Shkreli raised the prices from $13.5 to $750 per pill, which represents a 5000% increase (Boboltz, 2018; Johnson, 2017). The controversy increases upon realization that it only cost approximately $1 to make the one pill of drug. Indeed, the CEO did acknowledge that it cost very little to make the drug, hence there was no motive behind the hike other than economic motive and the prospect of huge profits. The CEO faced a lot of criticism for price-gouging that had the effect of putting the cost of care out of reach for some patients. The company tied to argue that it would use the profits raised from the price hike to develop a new product. Companies, especially those operating in sensitive sectors like healthcare are expected by the society to uphold certain ethical practices in order to benefit its customers (Hoff & Mintz, 2018).
There are three primary categories of stakeholders involved in this controversy. The first category of the founder and CEO of the company, Martin Shkreli. He is the person responsible for the decisions and actions of the company. To him, the effects were two-fold – 1) he would gain in monetary terms from hike in prices. He would be among the people that enjoys the profits generated. 2) He made damages to his rapidly tarnishing name. He has been faced and convicted with other issues like defrauding the investors (Johnson, 2017).
The second category of stakeholders is the investors. The investors are the people who have direct stakes in the company majorly in terms of shares and other forms of investments. The decision to hike the prices will be beneficial to some investors like the shareholders (Baldelomar, 2017). The shareholders are the owners who enjoy the returns or profits. However, this could be short-lived as the decision destroys the name of the company and the consumers may cease consuming the company’s products.
The patients/consumers/society is the other category of stakeholders. These suffer or benefit from the actions of the company. The decision to hike the prices of the vital drug means this category of stakeholders will suffer from high prices. Not many in this category can withstand a 5000% price hike due to economic constraints. Other stakeholders that might also be affected include the employees of the company (Baldelomar, 2017). The bad name of the company may affect them negatively in future as they seek employment elsewhere.
The decision to hike the prices by 5000% was not ethical. According to Baldelomar (2017) business practice being legal does not mean that it it ethical. Turing is a legal business and might act in the interest of the owners. The decision might be legal in that the law may not set the prices for medicines especially for private pharmacies. However, a drug that is depended upon massively is a sesnsitive drug that should be handled with care and consideration for the consumers.
The discussion of ethics in the drug pricing may be new, but the concept of ethics and ethica practice is not. In this case, overpricing drugs mean that the companies are putting profits ahead of people (McLaughlin, 2017). The greedy pricing schemes are meant to squeeze the patients and insurance companies beyong human decency, and this is what makes the actions unethical if not illegal. With the $750 a pill, many people whose annual incomes of below $15000 will hardly access the drug and the consequences could be losing te lives of these people.
Original view of business ethics
My original view of business ethics is that businesses should act in good faith and should be concerned about the wellbeing of the society. An ethical business, as per this view, will not engage in practices that harm the consumer of the society at large. The business practices should always be intended to benefit rather than to harm the society. The business ethics are supposed to be embedded in the social morals. This means that the lives and the wellbeing of the society is given priority. A moral or ethical business does not exploit the society especially the weak and disadvantaged in the society. It is possible to be ethical and still pursue profitability. However, it is unethical to pursue profitability at the expense of the lives or wellbeing of the people in the society. Being greedy is being unethical, and destroying the habitat and the environment where people live in the pursuit of profitability is also unethical. An ethical business also does not engage in any illegal practices.
It can be concluded that the Turing decision to hike prices is unethical and that it will have some negative impacts on the various stakeholders. It is unethical to hike put profits before the lives of people. The issue will affect the CEO, the investor, the patients, and the employees.
Baldelomar, R. (2017, July 21). Where Is The Line Between Ethical And Legal? Retrieved from Forbes: https://www.forbes.com/sites/raquelbaldelomar/2016/07/21/where-is-the-line-between-what-is-ethical-and-legal/#1625e995250b
Boboltz, S. (2018, March 9). Yep, Martin Shkreli’s 5,000 Percent Drug Price Hike Is Still In Effect. Retrieved from Huffingonpost.com: https://www.huffingtonpost.com/entry/martin-shkreli-aids-drug-price-the-same_us_5aa3117fe4b07047bec694cb
Ethical Dilema. (2017, April 18). Turing Pharmaceutical. Retrieved from Ethical Dilema: https://ethicaldilemma569.wordpress.com/author/ethicaldilemma569/
Hoff, C., & Mintz, S. (2018, Jan 18). Big Pharma’s Ethical Dilemma. Retrieved from Workplace Ethics Advice: http://www.workplaceethicsadvice.com/2018/01/big-pharmas-ethical-dilemma.html
Johnson, C. (2017, Aug 1). What happened to the $750 pill that catapulted Martin Shkreli to infamy. Retrieved from The Washington Post: https://www.washingtonpost.com/news/wonk/wp/2017/08/01/what-happened-to-the-750-pill-that-catapulted-pharma-bro-martin-shkreli-to-infamy/?utm_term=.0fc1ba5aa348
McLaughlin, D. (2017). An Ethical Approach to Pharmaceutical Price Increase in the United States. Lindmark Fellowship in Ethics. Retrieved from https://digitalcommons.csbsju.edu/cgi/viewcontent.cgi?article=1001&context=elce_lindmark