Assignment 3
It is ethical for the public to view industries as different because they are not equal even when there is free trade. While some industries are unfairly targeted by activists for their role in either enhancing human development or not, others are targeted in a fair manner. When an industry poses a threat to consumers, it cannot be treated in a similar like the other that creates benefits. For instance, the tobacco industry is not equal to the bakery sector because of the harmful impacts that it generates to its consumers. Further, industries like the pharmaceutical sector have been targeted because of the impact of their products on consumers (Benazzari, 2016). The current opioid crisis, as well as increased environmental pollution, are issues that the industry has failed to address despite the huge profits that these companies generate. These firms continue to dominate the healthcare industry and dictate prices for different drugs and regimens offered to patients in healthcare settings.
Christened the “Big Pharma” players in this industry continue to make treatment interventions for critical conditions and long-term diseases out of reach for many low-income Americans. While the high cost of drugs may be attributed to the expensive and time-intensive research as well as a development process, increasing the price of some lifesaving drugs for HIV treatment and patients is unethical. In addition, when these organizations fail to adhere to environmental regulations, they demonstrate that they are untouchable in the system. The rise of the Big Pharma to positions of policy influence is considered one of the reasons for the increased cost of healthcare, particularly for patients that have long-term and chronic conditions which require medication (Nawrat, 2018).
Consumers should enjoy better prices and be safe from any adverse reactions of the drugs. One of the causes of the opioid crisis is the use of resistance antibiotic regimens for patients. Therefore, these companies have a duty to ensure that their products are not only safe but also affordable to reduce the cost of care in the industry. Based on utilitarianism, business organizations in the industry should focus on the overall good of consumers as opposed to their business interests.
The main goal of a company is to cater to the interest of its shareholders or sponsors as opposed to consumer interests. In many instances, marketing campaigns are camouflaged as efforts to respond to consumer needs, demands and preferences. However, in the backdrop of these issues is the overall motive of profit maximization. Concepts like consumer-centred or addressing the needs of a consumer are all targeted at the maximizing the company’s advantage in the marketplace. Imperatively, while corporate entities can maximize profits while also cater to the interest of the consumer, the organizational interest takes precedence.
References
Benazzari, S. (2016). The Dark Side of the Pharmaceutical Industry. Retrieved from
https://www.ajmc.com/contributor/sophia-bernazzani/2016/04/the-dark-side-of-the-pharmaceutical-industry
Nawrat, A. (2018). Pharma and the environment: pollution continues despite public pressure.
Retrieved from https://www.pharmaceutical-technology.com/features/pharma-and-the-environment-pollution-trend/