Business Ethics Issues, Conflicts, and Success revolve around relationships

Business ethics issues, conflicts, and successes revolve around relationships. Building effective relationships is considered one of the most important areas of business today. Many companies consider business ethics a team sport where each member performs and supports others. A business exists because of relationships between employees, customers, shareholders or investors, suppliers, managers, and the community who develop strategies to attain success. In addition, an organization usually has a governing authority, often called a board of directors that provides oversight and direction to assure the organization stays focused on its objectives in an ethical, legal, and socially responsible manner. When unethical acts are discovered in organizations, in most instances cooperation or complicity facilitates the acceptance and perpetuation of unethical conduct. Few decisions are made by one individual. Therefore, relationships are associated with organizational success and also organizational misconduct.”

Reference: FERRELL, FRAEDRICH, AND FERRELL (2013). BUSINESS ETHICS (10th ed.). Stamford, CT: Cengage Learning.

SAMPLE SOLUTION

CVS is one of the largest healthcare companies in the United States. However, it has been faced with several ethical challenges which it has used various strategies to manage. The company was investigated and found to have violated HIPAA privacy rule by inappropriately disposing of a patient’s sensitive health information. To manage this challenge, the company has continued to offer high-quality healthcare products to its customers. It has also lined up a number of customer-centric activities such as providing monetary benefits to customers, has healthcare plans like maintenance options and pharmacy counseling, a women’s health clinic, and provision of its own medications to patients. The company has also organized awareness programs for patients on the benefits and risks of medications. CVS has also stopped selling cigarettes and this projects it as an ethical company (Ferrell et al., 2013).
CVS’s objective in ceasing to sell tobacco products is informed by the need to save lives and protect consumers from lifestyle-related diseases. Tobacco is one of the most significant risk health factors, contributing to about 6% of the world’s disease burden (Lempert & Glantz, 2018). By stopping the sale of tobacco products, CVS makes…