Federal regulations and federal agencies Essay Example | Topics and Well Written Essays - 250 words

Federal regulations and federal agencies - Essay ExampleBanerjee (2009) explains that despite research being the foot of the industrys product development, pharmaceutical companies still spend more than twice on merchandising as much as they spend on research and development. This establishes a motivation into ethical politeness such as corporate social responsibility that is likely to develop associations with consumers and establish a warring edge into profitability. Consumers would appreciate the responsible initiatives and prefer organizations products for their social actions and increased sales volume, into higher profits, over competitors would be the consequence. The fear possible and unfavorable legal regulations should organizations fail to act ethically is another reason for my ruling that pharmaceutical company would consider ethical manners, yet in the absence of legal rules. Legal regulations may induce mandatory cost of compliance that would otherwise be forfend ed. Failure to comply with legal regulations, even if it is accidental, may attract monetary policies, unlike failure to comply with moral rules and in order to avoid possibility of such fines and possible deregistration, pharmaceutical companies would prefer to operate ethically (Lamb, Hair, and McDaniel, 2011). Profit motive and the take aim to avoid legal regulation would therefore dictate ethical