- March 24, 2013
- Posted by: essay
- Category: Term paper writing
Evaluation of a Business Code of Ethics
Nutra Pharma Corporation
Nutra Pharma Corporation (NPHC)is a well known biopharmaceutical corporation which licenses and produces not only different pharmaceutical products but also some technologies which are used for the management of neurological disorders and infectious diseases.
Nutra Pharma Corporation is engaged in fulfillment of major drug discovery researches and clinical analysis.
Mission Statement of the company:
The company has its major goals to provide the patients, customers and investors with high quality products and to develop up to date pharmaceutical and science ideas which will be helpful to all the people of the world.
Type of Ethical System of NPHC
Nutra Pharma Corporation uses deontological type of ethical system because this type of ethical system is characterized by applying independent moral rules and duties. All the employees and supervisors should follow their duties and behave morally. Salus Aegrotti Suprema Lex is the main principle which should be used by the health care professionals including the doctors, the nurses and the pharmacists. (Soomro, 2009)
The Code of Ethics of NPHC
The code of ethics of this company is used in the following way:
”¢ All the employees, managers and directors of the company should comply the rules and regulations of the US jurisdictions as well as the jurisdictions of the other countries which are business partners of the above mentioned company.
”¢ The confidential information should not be released by the NPHC employees, managers and directors.
”¢ All the employees, managers and directors should avoid a conflict of interest regarding the company’s interests. Private interests should not interfere the company’s interests.buy essay
”¢ The employees, managers and directors are not allowed to take personal opportunities which are referred to the company. It is not allowed to use the property, information and position in personal interests and benefits.
”¢ All the employees, managers and directors should deal fairly with the customers and suppliers. It is forbidden to manipulate, conceal, abuse the information of the company. It is forbidden to have unethical and illegal business with other companies in order not to hurt the NPHC’s reputation.
”¢ All the employees, managers and directors should take care of the company’s assets and provide the efficiency in the use. All the company’s possessions should be used only according to the law.
”¢ All the records concerning the work of the company should be put into the database by the employees, managers and directors.
”¢ All the complains concerning the financial matters and accounting of the company which were produced by the employees, managers and directors should be sent to the Board of Directors.
”¢ The employees of the company should inform the directors and the managers of misbehavior, various illegal matters and other violations of rules including the breach of discipline.
”¢ Any employees or managers who violate the Code of ethics will be brought to disciplinary action or dismissal.( Nutra Pharma Corporation, Code of Ethics, 2010)
Modifying of the Code of Ethics
The company may modify the existing code of ethics. The reasons of this action include the following ones:
”¢ correction of the existing rules and regulations which will be more effective for the company.
”¢ Introduction of new rules and regulations concerning the successful work of the company.
”¢ Modifying of the types of penalties regarding misbehavior or other violations.
If I were a new CEO I will modify the code of ethics according to the new needs of the company. I will implement the changes by means of organizing the general meeting and handling the copies of the code of ethics to all the employees, managers and directors.
Reactions of the Staff to the Code of Ethics
There may be different reactions of the staff to the code of ethics. The employees and managers may be not satisfied with some rules and regulations concerning, for example, the disciplinary action or the penalties for violation of rules.
The organizational culture may have various effects on the acceptance of the code of ethics. For example, the ways of conflict resolution may be changed completely or the existing system of communication may be changed into another one, more democratic.
The Effect of the Code of Ethics
The effect of the code of ethics on the organization is enormous. It helps:
”¢ to set appropriate norms of behavior;
”¢ to improve the organizational work;
”¢ to increase self-evaluation of the employees and managers;
”¢ to rise the responsibility of the staff;
”¢ to create the structure of the high level professional behavior. (Soomro, 2009)
The code of ethics of Nutra Pharma Corporation is an effective one because it puts into practice moral standards of the organization. It is clear that the results of moral presentations will be represented by the customers in their responses and by the company’s achievements in business and the appropriate behavior of employees and managers. The code of ethics will help the company to achieve its goals. The code of ethics will help the employees to develop responsibility, creativity in work and professionalism. The code of ethics may be modified. Some new rules and regulations as well as new disciplinary actions mat be inserted in the code. Some complaints of employees or managers such as rather low wages or discrimination will show that the code of ethics is unsound.