Research Paper on PMI Code of Conduct: Core Principles & Practices

Paper Type:  Research paper
Pages:  5
Wordcount:  1152 Words
Date:  2023-01-01

Introduction

The codes are different to some extent. For example, in the ethical code for Philip Morris International, there code goes into specifics by discussing their core ideas regarding their practices of speaking workplace integrity, marketing and sales, competition, and corruption, information protection, company statement and records, scientific integrity, fiscal trade, conflicts of interest, and supply chain, supervisor's responsibilities, as well as applicability and waivers (The PMI Code of Conduct 1). On the other hand, for the code for Bristol Myers Squibb, they have principles of integrity, code of conduct for directors, for senior financial officers, and for third parties (. The tone contained in both codes is positive and direct. In both codes, no section is too demanding. In fact, in all sections of both company codes, their ethical codes are direct to maintain an outstanding corporate culture. Their codes of ethics do not take away the moral autonomy of their employees and do not deny them the obligation to reason while at the workplace. Besides that, the content in both codes contain operational definitions that direct their addresses on situations of ethical behavior. Furthermore, in both codes of conduct for Bristol Myers Squibb and the code for Philip Morris International code of conduct, the details indicated are intact.

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The companies have everything necessary to detail a code of ethics. According to the Ethics Resource Center (p.4), the code of conduct content should contain information such as a title, leadership letter, the table of contents, prologue, core values, code provisions as well as information and resources. In both company's ethical codes of conduct, the codes gives details on what employees should do when they encounter a problem. For example, in the ethical code for Bristol Myers Squibb, the code says that employees should raise their concerns with the supervisor, human resource employee, appropriate management representative, attorney in the aw department, and the compliance and ethics department when they experience a problem. In their codes of conduct, their manager indicates that when concerns are raised, the ethics department would conduct investigations to find any forms of inappropriate behavior and any disciplinary measure or corrective action would depend on the facts and specifics of the behavior the (Bristol-Myers Squibb Standards of Business Conduct and Ethics 3).

On the other hand, for the code for Philip Morris International code says that employees should speak up through reaching out to the supervisor, human resource manager, law department, and the ethics and compliance department when they experience a problem (The PMI Code of Conduct 7). After weighing the information from both company codes, it is notable that the code, which is much better, is the one for Philip Morris International. The reason is that it contains a wide array of information that is useful to the company and its employees. The system used to evaluate the codes was the toolkit provided by the Ethics Resource Center. Philip Morris International has many sections in their code of ethics that clarify all areas of their company and provide guidance to various ethical dilemmas.

How to Encourage Employees to Follow the Code

I would encourage employees to follow the code by implying a corporate culture. The corporate culture assumes a significant job in creating an environment whereby the corporate codes become alleged disguised obligation social standards. These standards can emerge if the external commitment is similarly esteemed by the employee's environment. I would include great authority and set a moral tone as well as advance a teaching of good corporate qualities. At the end of the day, the ethical tone at the top ought to penetrate all through the corporate culture to alter the practices and frames of mind of every single corporate decision-maker about what is normal. Moral statutes cannot go up against the board's desire to get results that meet or surpass past execution or the market's attention on the organization's main concern, in any case. I would teach adherence to their codes of morals by making a corporate culture of morals (1) where workers are effectively guided that expanded benefit ought to be met just through the use of the organization's ethical qualities (2) that obviously and fairly compensates moral behavior, (3) that incorporates examination of ethics as a major aspect of employee execution audits, (4) that actualizes customary and on-going preparing about the significance of the partnership's ethical standard and corporate qualities, (5) that supports diverse voices among decision-maker, including voices of difference, (6)that advances whistle-blowing assurances, and (7) that accommodates a quick examination and order of deceptive ethical complaints. These seven steps would assist workers with creating a culture that grasps the code of ethics.

Ethical and Legal Issues Since 2017

Phillip Morris International

In 2018, Philip Morris Korea Inc. documented a claim against the South Korean government, requesting the exposure of data on an ongoing test that finished up electronic cigarettes contain hurtful substances.

After the huge Master Settlement Agreement (MSA) among states and the tobacco business in regards to misrepresentation related with the deal and advertising of cigarettes, the U.S. Bureau of Justice (DOJ) chose to record a comparative claim against the business. In 2018, cigarette produces could be constrained to own "restorative articulations" on subjects about which they had generally duped and tricked the American open.

RM LAW, P.C. declared that a legal claim has been documented for the benefit all things considered or substances that acquired Philip Morris International Inc. basic stock between July 26, 2016 and April 18, 2018, comprehensive. This class activity tried to recoup harms against Defendants for supposed infringement of the government securities laws under the Securities Exchange Act of 1934

Bristol-Myers Squibb

In October 26th 2018, A New Mexico redrafting court has made room for the state's lawyer general to seek after a claim charging Bristol-Myers Squibb Co and Sanofi SA of participating in false promoting by hiding the dangers of their blood more slender Plavix.

In January seventh 2019, A government US judge has ruled pharmaceutical organization Bristol-Myers Squibb, Johns Hopkins University and the Rockefeller Foundation must face a $1 billion claim over their jobs in a 1940s restorative test that saw many Guatemalans contaminated with syphilis.

In 2017, Bristol-Myers Squibb consented to pay $19.5 million to settle a multi-state claim that accused the organization of ill-advised advertising of the atypical antipsychotic Abilify. The claim accused BMS of advancing Abilify for utilizations not endorsed by the U.S Food and Drug Administration (FDA), a training known as off-name promoting. BMS was additionally blamed for limiting the medication's dangers (which incorporate an expanded danger of death in old patients), exaggerating its viability, and beguiling and deceiving buyers.

Works Cited

Bristol-Myers Squibb Standards of Business Conduct and Ethics. N.d. accessible at https://www.bms.com/assets/bms/us/en-us/pdf/principles-of-integrity.pdf

Ethics Resource Center. 2001. Accessible at https://www.shrm.org/about/shrm/Documents/organization-coe.pdf

The PMI Code of Conduct. N.d. Accessible at https://www.pmi.com/resources/docs/defaultsource/our_company/code-of-conduct/english_code_of_conduct_external_online_180116.pdf?sfvrsn=f5c386b5_8

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Research Paper on PMI Code of Conduct: Core Principles & Practices. (2023, Jan 01). Retrieved from https://proessays.net/essays/research-paper-on-pmi-code-of-conduct-core-principles-practices

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