MGMT 501 Respomnse

WEEK 2: INTERNATIONAL BUSINESS ETHICS 1

Introduction

Roche was founded in Basel, Switzerland in 1896. Roche is the largest biotech company in the world. They are number one in the world and have seventeen biopharmaceuticals on the market. Social responsibility is a diverse environment, with problems continually evolving in response to the demands of society. While conducting new clinical trials they remain focus and maintain social responsibility. The four stages of social responsibility include economic, legal, ethical, and voluntary (Ferrell, Hirt, & Ferrell, 2020). For this week assignment I watched a Youtube video regarding Roche Biotech. We will discuss Roche’s two social responsibility issues consumers relations and community relations.

Social Responsibility 1 – Consumers Relations

Consumers relations is a critical issue in business. Its a business’s responsibility to customers, who look to business to provide them with satisfying, safe products and to respect their rights as consumers (Ferrell, Hirt, & Ferrell, 2020). Many clinical trials are looking for new methods of identifying, diagnosing, or assessing the extent of sickness. Some also look for ways to avoid the spread of diseases. As indicated in YouTube video Roche has four phases of clinical trial testing for safety, efficacy, clinical benefit and post-marketing studies and surveillance. Their phases align with John F. Kennedy’s 1962 consumer bill of consumers rights (Ferrell, Hirt, & Ferrell, 2020). At each point of a clinical trial, there are advantages and risks to taking part. Roche conducts in ethical behavior since it builds trust among individuals and in business relationships, which validates and promotes confidence.

Social Responsibility 2 – Community Relations

Community relations is the general health responsibilities of the populations and institutions under which they work. Most organization or companies aim to make their neighborhoods a safer place to live and work. “The most common way that businesses exercise their community responsibility is through donations to local and national charitable organizations” (Ferrell, Hirt, & Ferrell, 2020). Roche participates in the “Children Walk is the global corporate day for employees to commit to social responsibility and make a contribution to improve children’s lives” (F. Hoffmann-La Roche, 2020). They are involved in many organizations and partnerships. Their community and partnerships are important to provide outstanding service and products.

Conclusion

Ethics speaks about the principles and ideals of people, professions, organizations, or communities, while social responsibility is the realistic implementation of ethical issues for the good of humanity. Practicing the right things are important in business and Roche does it well. This is a way a business must conduct to make money, earn profits, or receive grants and donations. Serving and participating within the community it connects us by improving it, making it a better place for all of us to live in. “Social responsibility, ethics, and sustainable business practices are not a trend; they are good for business and the bottom line” (Ferrell, Hirt, & Ferrell, 2020).

References:

Ferrell, O. C., Hirt, G. A., & Ferrell, L. (2020). Business foundations: A changing world. New York, NY, NY: McGraw-Hill Education.

F. Hoffmann-La Roche. (2020). Doing now what patients need next. Retrieved November 02, 2020, from https://www.roche.com/

F. Hoffmann-La Roche. (2020). Code of Conduct. Retrieved November 02, 2020, from https://www.roche.com/about/governance/code_of_conduct.htm