Business Management Unfair Product Pricing Essay

Business Management Unfair Product Pricing - Essay ExampleIt is an ethical concerns that becomes particularly urgent in the example of life saving drugs. avow is closely related to ethical behavior. In fact, the two concepts are inextricably intertwined. Without ethical behavior on the part of a person or entity, it would arguably be impossible to gain the trust of others, who otherwise would have no concrete basis on which to extend that trust. Trust implies a confidence in someone else that they will generally do the right intimacy and exercise sound judgment when presented with various types of circumstances. Doing the right thing is the essence of what it means to be ethical. In the business context, that means sometimes sacrificing increased profits in order to avoid harm to people or the community. Thus, pharmaceutical companies should consider steeply discounting drugs that can help save lives, particularly for the poor.Such trust can go a coarse way toward promoting long t erm goodwill for the business. This can be a key ingredient in establishing long term profitability. Thus, fostering trust by acting ethically is an important long term business strategy for any organization.