Since the trading exist, business ethics have become a very critical issue in the business world. It is about the applied ethics and professional ethics based in the commercial environment and supervise individuals, stockholders, entrepreneurship and firms to be responsible in every field of business. Also, Business Ethics follow the most coeval standards and impact business decision makings to some extent.
Generally, if individuals or organizations violate Business Ethics, there are usually damagements for people’s profits or wellbeing. However, despite the public criticize about companies that don’t follow the Business Ethics, there are still some of them break the rules. For instance, Mylan Pharmaceuticals, a US medical company, which produces EpiPen (an emergency epinephrine treatment for anaphylaxis). This kind of medicine is very useful and efficient that can be used to save lots of lives. The firm is basically the inventors of EpiPen and they took a lot of advantages from this point. Mylan Pharmaceuticals rose the price up to $600 US per package for two, which increased nearly 400 per cent in the past few years. People was shocked and indignant by this movement they made and unfortunately, Mylan Pharmaceuticals is a typical case in the situation. AMA (American Medical Association) has appealed to pharmaceutical industries to be responsible for the customers and the society. People who suffer from the emergency high-mortality disease rely on these treatments. Those companies know the reality and they are tempted by desires and profits. Therefore, they break the Business Ethics.
From my perspective, companies like Mylan Pharmaceuticals should be supervised and urged by governments. The entrepreneurship of the firms neglected Business Ethics and acted irresponsible and immature to the public. In this case, there could be additional legal rules to control the complexion. Companies with patents should especially follow the Business Ethics. Otherwise, showing responsible, respect and reliable could set up an enterprise image and good reputation to the public and furthermore, to increase competitiveness in the markets.
Business Ethics is not all about avoiding maliciously lift the marketing price. It also contains paying taxation on time, honest transactions, fair trading and other aspects. To be summarized, Business Ethics is a vital issue in the commercial world and every individual and organization should observe it.
References:
Example refers to CBC News. http://www.cbc.ca/news/health/epipen-price-1.3734214
Definition refers to Wikipedia. https://en.wikipedia.org/wiki/Business_ethics
Picture refers to Google Pictures. http://www.mylan.com/en/products/product-catalog/product-profile-page?id=6749373C-9FB4-4E2B-A856-3771B31F68F3
