You are an executive with a major pharmaceutical company. Your company is ready to release a cure-all for the common cold. However, the drug has some terrible side effects for a very few of its users, including potential permanent paralysis and/or death. How should you advise your company about deciding whether to sell the product or not? How does the standard, or approach, of ethics that is applied affect this answer? In other words, you answer needs to include:
· 1. An introduction that includes your final decision and explanation of that decision.
· 2. A definition of business ethics and a complete discussion of the topic.
· 3. A complete discussion of how you and other business leaders, regardless of the company or industry, can encourage your companies to act ethically Include at least two actions leaders can take and explain each one. This does not apply just to our scenario. This is asking you to tell me what any leader for any company can do.
· 4. A definition of ethical reasoning and a complete discussion of what your answer and advice to the company would be if you applied each of the two main approaches to ethical reasoning. This needs to include a discussion of each of the two approaches and all the subparts for each of the approaches. Your decision may not be the same as each of the two approaches is applied to the scenario.
· 5. A complete discussion on how you evaluated your decision using each of the five steps of the Business Process Pragmatism procedure (see page 195 of the textbook) You need to include the list of the five steps and explain how you used each one in coming to your ultimate decision to sell or not to sell!