business law no plagiaries

Jul 13th, 2014
Price: $10 USD

Question description

ou are returning for a second interview for a management position at a pharmaceutical corporation. The hiring committee wants to hear your views on a corporation’s social responsibility. The hiring committee has even provided to you a case example to review and discuss during your interview. To prepare for the interview, you decide to write out your thoughts that you plan on discussing with the hiring team.

In your paper, you decide to include the following topics:

  • Definition of what corporate social responsibility means to you
  • Arguments supporting social responsibility
  • Description of a real-life example of a specific corporation acting in a socially responsible manner
  • Your opinion and supportive reasoning on the case example and questions provided below

Case Example: Phishy Pharmaceuticals is a corporation that recently kicked off the sale of its new weight-loss pill, Lose It Fast. After three months of sales, the management team has received some troubling reports of some unanticipated side effects caused by the pill. The management team asks the accounting department to run some numbers to determine how much it would cost to recall Lose It Fast, to suspend manufacturing, and to conduct more tests to determine the pill’s safety and other possible side effects.

After running some numbers, the accounting department states that it would be more cost-effective to leave the product on the market shelves and propose settlement proceedings with anyone who is injured and initiates a lawsuit.

The corporate attorney has advised that the product states on the package that the pill is not FDA approved, and off-the-record has stated that everyone who buys a weight-loss product knows there are some risks involved, so it is likely that the majority of injured consumers will not initiate a lawsuit.

If you recall the product, it will result in a delay of dividends paid to shareholders and a loss in revenue, affecting shareholder profit. Consider the following questions regarding this example:

  • What would you do, and why?
  • Would you leave the product on the shelves because you feel your duty as a corporate manager is to maximize shareholder profits?
  • Would you recall the product because you feel the corporation owes a duty to the public, consumers, and the government in terms of social responsibility?

Tutor Answer

(Top Tutor) Daniel C.
School: Carnegie Mellon University

Studypool has helped 1,244,100 students

Review from our student for this Answer

Aug 1st, 2014
"Goes above and beyond expectations !"
Ask your homework questions. Receive quality answers!

Type your question here (or upload an image)

1831 tutors are online

Brown University

1271 Tutors

California Institute of Technology

2131 Tutors

Carnegie Mellon University

982 Tutors

Columbia University

1256 Tutors

Dartmouth University

2113 Tutors

Emory University

2279 Tutors

Harvard University

599 Tutors

Massachusetts Institute of Technology

2319 Tutors

New York University

1645 Tutors

Notre Dam University

1911 Tutors

Oklahoma University

2122 Tutors

Pennsylvania State University

932 Tutors

Princeton University

1211 Tutors

Stanford University

983 Tutors

University of California

1282 Tutors

Oxford University

123 Tutors

Yale University

2325 Tutors