About this Assignment
Whether they realize it or not, managers make many decisions every day that can directly or indirectly impact their customers, employees, stakeholders, shareholders, and the company’s reputation. When making these decisions, managers need to be aware of the legal and ethical implications their decisions may have on others. Some decisions have an obvious impact, such as bribing a government official to secure a contract or falsifying financial documents to make the company appear to be more profitable to shareholders. Other decisions are less obvious, such as hiring one person over another simply based on a ‘gut feeling’ or ignoring a problem on the team in the hopes that it will work itself out.
For this assignment, you will examine a real-life ethical dilemma managers have faced in the past. Please write a 1,500 to 2,000-word paper that addresses one of the following dilemmas.
•Since acquiring the rights to distribute the drug in 2007, pharmaceutical company Mylan has increased the price for EpiPens by approximately 400%. This has increased profits and performance for the company, but has also sparked immense backlash and accusations of price gouging. Examine Mylan’s decision to increase the price of the drug so drastically and the consequences of that decision.
For each situation, please address the following:
•Discuss the decision-making process employed by management to address the ethical dilemma, if it was in fact addressed.
•Show how management decisions impacted employees, leaders, stakeholders, and shareholders of the organization
•Explain the public relations and media strategy the organization used to address the ethical dilemma.
You may refer to the course material for supporting evidence, but you must also use at least three resources and cite them using APA format. Please include a mix of both primary and secondary sources, with at least one source from a scholarly peer-reviewed journal. If you use any Study.com lessons as sources, please also cite them in APA format, including the lesson title and instructor’s name.
•Primary sources are first-hand accounts such as interviews, advertisements, speeches, company documents, statements, and press releases published by the company in question.
•Secondary sources come from peer-reviewed scholarly journals, such as the Journal of Management Ethics, the Journal of Management Studies, or the Harvard Business Review. You may use sources like JSTOR, Google Scholar, and EBSCO to find articles from these journals. Secondary sources may also come from reputable websites with .gov, .edu, or .org in the domain. (Wikipedia is not a reputable source, though the sources listed in Wikipedia articles may be acceptable.)