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  • Essay / Comparing Pfizer's business standards to those around the world...

    Living in the United States of America can give us a false sense of comfort in our democratic system. At the heart of the democratic system is the belief that the voice of the people, either directly or through their representatives, constitutes the determining power within the country. Thanks to the freedom within our culture, our economy has grown unprecedentedly and at levels that exceed almost every other country. However, due to the growth and size of the industry, their voices are also heard and acted upon within our democratic system. These large companies have lobbying power and can have a direct impact on the economy of that country, either positively or negatively. It is therefore essential that these large companies act in an ethical manner acceptable to the people of this country. In this article, the ethical policy of one of the largest research pharmaceutical companies in the world, Pfizer, will be analyzed. Pfizer's business conduct policy will be compared to the Global Business Standards Codex developed by Paine, Deshpande, Margolis and Bettcher (Pfizer, 2012; Paine, 2005). The codex consists of eight fundamental principles that predict how a company will handle certain ethical situations. This codex will also be analyzed based on how it should be applied in the Christian worldview. The Codex principles are fiduciary, ownership, reliability, transparency, dignity, fairness, citizenship and responsiveness; each of which will be analyzed individually.FiduciaryThe fiduciary principle analyzes how effectively a company acts for the company's shareholders and stakeholders. Fiduciary actions of company officers and employees can take many forms, from constant work to a middle of paper......pharmaceutical and testing industry. These codices have also been shown to encompass many of the biblical values ​​that Christians are believed to possess. A unique observation can be made about the teachings of the Bible and the intent of the codex. Repeatedly, the command to love your neighbor as yourself supported the purpose of the codex principle. This supports the validity of the fact that Christian ethics are still applicable in today's industry and should be the foundation of all our ethical decisions. Works Cited Paine, L., Deshpande, R., Margolis, JD and Bettcher, KE (2005). Down to code: Does your company conduct itself to world-class standards? Harvard Business Review, 83(12), 122-133. Pfizer. (2012). The Blue Book: Summary of Pfizer Business Policies and Procedures. Retrieved from http://www.pfizer.com/files/investors/corporate/blue_book_english.pdf