Business Ethics and Corporate Social Responsibility
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Business Ethics and Corporate Social ResponsibilityCase 1An Issue on Fair PriceA strong typhoon caused floods in Town Mabait. The town’s people were aware of the possibility of acquiring leptospirosis. There was, then, a great demand for doxycycline, the generic name for a drug known to prevent leptospirosis. There were four pharmacies in Town Mabait. Kitkat Pharmacy, known for selling branded medicines, was selling the branded drug for P4.50 per piece. Goya Pharmacy and Hershey’s Pharmacy, franchisees of two popular generic drug pharmacies, were selling it for P2.00 per piece. Unfortunately, these three drugstores ran out of the said medicine. Cadbury pharmacy was a small independent drugstore that had been in existence years before the other drugstores came to town. It was originally selling the drug for P2.50 per piece with a 100% mark up in price. But I order to compete with the two generic drugstores, it lowered the price to P2.00 per piece. Fortunately, Cadbury Pharmacy was able to stock 1000 boxes of the said medicine. Mr. Nicasio, the owner, was very much aware that the other three pharmacies had run out of doxycycline. He knew that an opportunity was knocking at his door. What should he do?Rank the various answers below;Plainly, it is not morally right to raise the price. Otherwise it is a case for conscience-less opportunism. It is not morally right to raise the price for the simple reason that it is against the law. It is morally right to raise the price as long as the customers willingly buy it. Their faces will show willingness.It is morally right to raise the price as long as the market can tolerate it.It is morally right to raise the price as long as Mr. Nicasio does not exceed the selling price of KitKat Pharmacy.
It is morally right to raise the price as long as it is still significantly lower than the price of Kitkat Pharmacy. It is morally right to raise the price to P5.00 per piece. It is morally right to raise the price as long as Mr. Nicasio make sure that he shares his profit to his pharmacy employees. It is morally right to raise the price as long as he make sure that he will donate to the flood victims. It is morally right to raise the price as long as he makes sure that he will pay taxes honestly and faithfully.It is morally right to raise the price because this is not being opportunistic. Rather, it is being enterprising.It is morally right to raise the price as long as Mr. Nicasio asks for forgiveness from God.