There are varying moral issues in the business environment today that are deemed to be more crucial and relevant to consumers’ knowledge and information. Businesses have moral and legal obligations to communicate effectively and efficiently advertise products as well as offer product safety to consumers (Carroll & Buchholtz, 2014). It is worth stating that the same businesses have to make a profit at the end of the day. However, any given actions and activities undertaken by the business have significant impact on the product end users and can be either positive or negative. Product safety is an ethical requirement and therefore firms ought to provide consumers with sufficient information regarding a product, thus promoting its safe use (Marucheck et.al, 2011).
Given the case study of Phishy Pharmaceuticals, which manufactured the Lose it Fast pill, a weight loss pill, which within a short time, customer complaints ensued regarding the product, moral and ethical issues is manifested. In my opinion, as a corporate manager for the company, I would have recalled the product from the market, immediately, to safeguard the consumers’ wellbeing.
Generally, consumers are the main stakeholders for any given firm, though they tend to be mostly ignored by some money-minded companies. Their interest and wellbeing ought to be safeguarded and protected. When their wellbeing is violated, the consumers are given the option not to trust certain company goods and services and as a result gives a company negative public image which is detrimental (Carroll & Buchholtz, 2014). Most governments regulate product safety of most manufacturing companies using agencies, including consumer health and product safety boards. Such an example of a governmental agency that enforces the mantra of product safety includes the FDA. It is critical to make note that any firm that heavily supports and embraces due care in their dealings would recall the product out of the market.
As Phishy Pharmaceuticals, we violated the product safety standards that are aimed at protecting the consumers from the consumption of harmful products. Companies should not at any cost dismiss product safety standards and thus reinstate a product because it would cost them a fortune. Safety standards are considered a requirement and not profit motives on the contrary (Marucheck et.al, 2011). Our negligence as a company and mine particularly as the corporate manager would portray unethical morals and selfish desires has already caused damage to the general public. Such practice is in fact punishable by law.
It is critical to note that consumers have a right to be educated regarding that product that can cause harm to them. Consumers may be subjected to harm even when the products are consumed in an appropriate way (Marucheck et.al, 2011). In my case, I would establish and implement ethical standards that would govern the firm’s daily procedures. Likewise, it would be my responsibility as a manager to give the general public an apology and at the same time pledge to monitor processes at all times and allow my laboratory specialists to continuously test the products and also analyze the trends of the product usage to ensure that they are adequately safe for human consumption both in the short and the long term.
References
Carroll, A. B., & Buchholtz, A. K. (2014). Business and society: Ethics, sustainability, and stakeholder management. Nelson Education.
Marucheck, A., Greis, N., Mena, C., & Cai, L. (2011). Product safety and security in the global supply chain: Issues, challenges and research opportunities. Journal of Operations Management, 29(7), 707-720.
