In business, ethical dilemmas or situations occur frequently. Laws and regulations exist to define unethical behavior. However, the practicing of high quality ethical behavior often goes beyond just meeting laws and regulations. Indicate how you would respond to the following situations.
a. Your boss has just told you that there will be an announcement tomorrow morning that the Federal Drug Administration has approved your firm’s marketing of a new breakthrough drug. As a result of this information, you are considering purchasing shares of stock in your firm this afternoon. What would you do?
b. In the past, your firm has been in compliance with regulatory standards relating to product safety. However, you have heard through the “company grapevine” that recently some of your firm’s products have failed resulting in injuries to customers. You are considering quitting your job due to personal moral concerns. What would you do?