There are so many other ways that the company could be cutting costs in other areas. Herald Media, 19 Mar. The above case violate the theories of Utilitarianism, Kantianism, and the Virtue theory. Kantianism is based on the idea that everyone must act upon certain maxims, which are rules that determine how humanity should act as a whole.
However, penalizing employees who do not want to reveal their personal information is not the way to cut costs. They are completely exploiting their employees who work so hard to make the company profitable Business ethics cvs reputable.
This new policy will be analyzed by the four major ethical theories, which will all help us decide if this policy is ethical or not. The second main group of stakeholders that we have to analyze in this case are the upper managers in CVS Caremark.
This policy is unfair to the people that deserve to be able to take this drug without restrictions. CVS stockholders will be affected by this policy being put into effect because stocks are always affected when a company is involved in ethical issues or a big business decision like this new policy.
There are many differing viewpoints about this policy, in which many are calling on the company to not impose the policy, as it is very detrimental to their employees. This does not maximize happiness among the employees as they are the ones who are affected most int his case.
A little investment always seems to pay off in the end.
Kant would think that CVS Caremark is not being an ethical company because of their decision to mistreat their employees by forcing them to give up sensitive personal information in order to cut healthcare costs.
Utilitarianism is the ethical theory that states that an individual or firm has the right to make any decision that they want, as long as it maximizes overall happiness among everybody involved.
The majority of the addicts that are contributing to this opioid epidemic in the US are not the patients who are receiving the prescriptions which are the people that will be directed affected by this policy. CVS is mandating this information, and in fact penalizing the employees who want to protect their information and not surrender it to their employer.
In this case, the main virtues of honesty, respect, and justice were broken by the upper management of the company. The second major ethical theory that will analyze this case is the theory of Utilitarianism. Under Individualism, the company can do whatever they like as long as it is within the bounds of the law.
The company was originally a small retail store which offered health and beauty products as well as an arrangement of general merchandise. Honesty is represented in agreements, hiring and treatment of employees, customers and other companies.
The chain now owns and operates 7, retail stores across the United States. With the lowering of healthcare costs, managers can expect to see a huge financial gain, as there will be more profit to please the stockholders.
These facts and analyses are based on an original paper entitled "CVS Caremark:integrity and sound business practices have helped us build a solid foundation of trust.
This foundation is a valuable asset that has taken years to build, and CVS Health Code of Conduct 1 Table of Contents What We Stand For You may use the CVS Health Ethics Line to report problems or issues or ask questions.
You will be asked to telephone the CVS Health Ethics Line, operated by EthicsPoint, or visit the EthicsPoint website five-ten business days after you make your initial report. At that time, you can check the status of your report and learn whether any additional information is needed from you to address your concern.
CVS Health is committed to upholding the highest ethical standards and complying with applicable laws and regulations, its Code of Conduct and company policies or requirements. We have selected EthicsPoint to provide us with an anonymous and confidential method to hear your concerns or report of misconduct.
Business Name Institutional Affiliation Business Ethics Auditor-firm conflict During auditing, there arise conflicts of interest since firms try to trace the financial statements that show how the management manages the tax company.
Nov 09, · CVS Creates Questionably Unethical Policy to Try and Help Reduce Opioid Epidemic () The biggest stakeholders are the patients who are being prescribed opioids and CVS which is the business that made up the policy and is the largest pharmacy chain in the US.
Ethics Case Controversy Analysis Controversy. CVS Health is committed to following the highest ethical standards and complying with all applicable laws and has established policies that outline our practices.Download