ROLE OF ETHICS IN BUSINESS: Ethics Defined: Ethics are principles based on doing the right thing. They are the moral values by which an individual or business operates. In theory‚ a business or individual can act ethically and still attain ultimate success. A history of doing the right thing can be used as a selling point to heighten a person’s or organization’s reputation in the community. Not only are ethics morally valued‚ they are backed by legal repercussions for failure to act within certain
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earnings had declined in the fourth quarter of the previous year and lowered its estimates for its earnings for 2010 a. Due to the depressed economy and to a string of product recalls: 7 recall since September 2009 2. Problem surf at McNeil Consumer Healthcare: recall an estimated of 136 million bottles of children’s Tylenol‚ Motrin‚ Benadryl‚ and Zyrtec 3. Excoriated by the Food and Drug Administration for failing to catch McNeil’s quality problems a. Causing the company to close down the factory
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They eventually organized their operations into three main divisions; pharmaceutical‚ medical devices and diagnostics‚ and consumer products (Answers Corporation‚ 2007). They became well known for the talcum powder‚ band-aids and the pain reliever‚ Tylenol. In 1932‚ Robert Wood Johnson II‚ known as General Johnson succeeded his uncle to take over running Johnson & Johnson. The General believed strongly in decentralization within the entire organization and all the divisions both in the United States
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Boaters‚ when is the last time you checked your first aid kit? If you can’t recall‚ then it’s time to make sure that your first aid kit is waterproof and fully stocked with fresh supplies. You want to be prepared to deal with common medical issues ranging from sunburn and insect bites‚ headaches and nausea‚ and cuts and fishhook injuries. Feeling ill or getting hurt on the water is bad enough. Not having anything on hand to treat the problem can turn a manageable issue into a more serious situation
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models show that how these values lead to a good outcome. Graham Tucker’s 5-Questions Profitable? During 2008-2012‚ Maple Leaf Foods recalled their products for four times. They shut down plants and extensively cleaned and replaced machines. The recall directly
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Johnson‚ namely Tylenol. Tylenol has captured 8% of analgesic market‚ which implies that Tylenol has been dominating the Acetaminophen market. Tylenol‚ compared to Aspirin type pain relievers‚ had a very different approach in targeting its market. Since acetaminophen was first considered as a prescription-only drugs‚ Tylenol was advertised only to the trade and to the medical profession. As a result‚ doctors were recommending Tylenol to patients. Although the price of Tylenol was almost double
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string of product recalls. Sales figures do indicate that Johnson and Johnson has clearly been hurt by 17 recalls since September 2009‚ covering several over-the-counter medicines‚ a batch of contact lenses and some hip replacements. The most serious problems have surfaced at McNeil Consumer Healthcare‚ which has had to recall many of its products‚ including one for an estimated 136 million bottles of children’s Tylenol‚ Motrin‚ Benadryl and Zyrtec – the biggest children’s drug recall of all time
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Week 6 Homework MBA527 1. Read "Case 9: National Collegiate Athletic Association Ethics and Compliance Program‚ pp 444-454. Answer the questions at the end of the case. How does the NCAA encourage collegiate football programs to develop a culture of ethics and compliance? Collegiate football is not only a very lucrative and rapidly growing “business” but it also has a “tremendous impact on our culture‚ influencing the values of millions of participants and spectators”. Because of this‚ it is
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Massey‚ J. E. (2001). Managing organizational legitimacy: Communication strategies for organizations in crisis. Journal of Business Communication‚ 38‚ 153-182. Pauly‚ J. J. & Hutchison‚ L. L. (2005). Moral fables of public relations practice: The Tylenol and Exxon Valdez cases. Journal of Mass Media Ethics‚ 20(4)‚ 231-249. Pearson‚ C. M. & Clair‚ J. A. (1998). “Reframing Crisis Management.” Academy of Management Review‚ 23‚ 59-76. Quick Reference Guide for the National Response Plan. May 2006. Version
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Johnson and Johnson was founded by Robert Wood Johnson and two other brothers who name was James Wood Johnson and Edward Mead Johnson in 1855 who created a line of ready to use surgical dressing. The company produced its first products in 1886 and was incorporated 1887. The products that Johnson and Johnson produced were items such as bandages‚ lotions‚ shampoos‚ and many other products. Robert Wood Johnson served as the first president of the company. He worked to improve sanitation practices
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