If the StarAlphaMedicines company don't carry out the CEO's suggestion, in light of current trends, company is actually facing the danger of finance. Due to strict regulatory environment, the company has to fall in profits and a resulting drop in share price. In addition, in Europe these kinds of clinical trials are rather lengthy and very costly to conduct. This research program is perhaps terminated by the board of directors. Because the firm's weak financial posture is starting to concern its stockholders.
Immediate shut-down of all research will cause a part of losses and result in serious harms and consequences. For example, a greatest amount of people are being menaced by breast cancer. There is a lack of opportunities and competitiveness to make profit for company. The company convey important information to stakeholders, in order to establish trust between company and their stakeholders. If company prevent the CEO's suggestion, the company will maintain long term trust in community. Community will do not get harmed. For median and community, the company establish the good image in the trade.
However, it will not be good for company's 'licence to operate' in the long run. As a board director of the company, I might be losing my interest. Company also might lose its competitive advantage, which make it is difficult to cope with market competitiveness. Ultimately, the whole future of the company is at risk. Ethics of Rights Crane and Matten (2007:100) describe ethics of rights that human were entitled to 'natural rights', and which should be certain basic, important, unalienable entitlements that should be respected and protected in every single action.
These rights theories have been extended to include rights to life, freedom, property, freedom of speech, conscience, consent, privacy, and the entitlement to a fair legal process among others. The rights of one person can result in a corresponding duty for other persons to respect, protect, or facilitate these rights. Government and company should not conceal the occurrence of harmful side effects. Community and the media are entitled to know the truth. What is called right to information refer to understand the possible side effects of drugs to prevent people in such a way as to avoid further injury.
And that they have rights to freedom of speech. Rights of the community should be ranked higher as proposed course of action could have significant effect on community's well-being. Company also has right to run to keep in normal operation. From the interest of the company must take conditions into account. This decision is also suitable for the current situation. Customers have right to a novel breast cancer drug to help a lot of people. These can be considered a human right. Human rights based on a consensus of all human beings about the nature of human dignity.
Theoretical approaches to business ethics on a practical level. Human beings have the right to be respected and protected, the study of new drug benefit as long as human health. It would have the right to study them. It is company's duty to research drug for the sake of the health of human beings. Conclusion: I would agree CEO's suggestion in this situation. I might consent to this proposal to enter country X to help company tide over this difficulty. If the company does not survive the storm, I will lose my interest.
Thereby, I might have an interest in the prosperity of the company. I should to seek the greatest profit for the company. But I might also want to do the right thing and don't against my conscience. Sometimes success might be rather costly to pay, because no one can ensure safety at the current stage of the novel breast cancer drug. Utilitarian analysis can be very beneficially in this situation. With an ultimately positive or preferable result can contribution to happiness or pleasure for the largest number of people.
Utilitarianisms generally are contested. Due to the pain of these participants have to be weighed. It prevents far greater pain for all humans from the tested drugs. In clinical trials before, as a director I will clearly tell those participants in the drug's pros and cons so that they can make choices, because they have a right to information. Furthermore, company has an obligation to research new drug to help human beings and which were entitled to be respected and protected.