Topic > Comparing Pfizer's Corporate Standards to Global Standards...

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, directly or through a representative, is the determining power within the country. Thanks to the freedom present in our culture, our economy has grown at unprecedented rates and to levels that surpass almost all other countries. However, due to the growth and size of the industry, their voices are also heard and followed within our democratic system. These huge corporations have lobbying power and can directly impact this country's economy in a positive or negative way. Therefore, it is critical that these large corporations act in an ethical style acceptable to the people of this country. Within this document, the ethical policy of one of the largest research-based pharmaceutical companies, Pfizer, will be analyzed. Pfizer's policy on business conduct will be compared to the Global Business Standards Codex developed by Paine, Deshpande, Margolis, and Bettcher (Pfizer, 2012; Paine, 2005). The code is made up of eight core principles that dictate how a company will handle certain ethical situations. This code will also be analyzed with respect to how it should be applied within the Christian worldview. The principles of the code 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. The fiduciary actions of company officers and employees can take many forms, from constantly working towards a…paper center…the pharmaceutical and testing industry. These codes have also been shown to include many of the biblical values ​​that Christians should possess. A unique observation can be made regarding the teachings of the Bible and the intent of the code. The command to love your neighbor as yourself has repeatedly supported the goal of the code 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, J. D., & Bettcher, K. E. (2005). Keeping up with the rules: Does your company's conduct meet world-class standards? Harvard Business Review, 83(12), 122-133. Pfizer. (2012). The Blue Book: Summary of Pfizer's Corporate Policies and Procedures. Retrieved from http://www.pfizer.com/files/investors/corporate/blue_book_english.pdf