There is a significant number of products on the market, and improper or excessive consumption can lead to catastrophic consequences for the consumer. Lack of responsibility for one’s life and decision-making awareness make everyday purchases potentially dangerous for various types of goods. A typical example is the food market, in particular fast food. People who cannot control their impulses often suffer from various diseases, such as obesity, due to the abuse of fast food. However, with rational behavior, this type of product, even if aggressive marketing by companies is used, will not have negative consequences. Nevertheless, there are products whose use is generally hazardous to life and health, such as cigarettes and drugs. Since the sale of these products is not prohibited by law, it is necessary to regulate carefully how the goods are sold, what marketing is used, and how it affects consumers’ impulses regarding unconscious purchases.
Question 1. Marketing Dangerous Products
When the goods are on the market and available to buyers, then the laws do not prohibit it. Consequently, the State had calculated the possible risks involved in selling a particular type of good. However, there are cases where such decisions are taken without proper research. I believe that for this reason, there are products that are too dangerous to be marketed under any circumstances. I would put the strictest regulations on marketing drugs. As Ali and Baboota (2021) state, “for the development of efficient and safe pharmaceutical therapeutics, regulations are an essential requirement” (p. 2). I would rule out any marketing that creates the slightest impulse from the consumer to buy drugs. For example, I would oblige the manufacturer to make as neutral a box as possible, containing only necessary information and data on the drug’s medical use. On the other hand, I would apply regulations regarding the possibility of mass advertising of these goods for cigarettes and handguns. There would be a ban on advertising cigarettes in public places, banners, streets of cities, and others. Such regulation will minimize the popularization of these products.
Question 2. Three Takeaways of Business Ethics
During my business ethics course, I learned essential skills that will help me in the future. However, among the most significant are knowledge regarding such concepts as ethical leadership, corporate governance, and environmental ethics. I have chosen these three concepts in particular because of their focus on the future of the company, as well as the possibility of establishing quality communication between the government and employees. The concept of ethical leadership considers important aspects of leadership behavior aimed at creating quality and trusting relationships with subordinates. Corporate governance provides for the study of specific rules and laws that will promote compliance with legal standards in the leader’s work (Meinhold, 2021). On the other hand, environmental ethics will align with the general trend to minimize the company’s harm to nature (Meinhold, 2021). These concepts will give me vital knowledge of business ethics nuances.
Utilization of The Concepts in Life
As the utilization of these concepts in my own life, I will use fundamental knowledge to build quality relationships with others. My conduct will be guided by the ethical standards described in the concepts. In addition, concepts will help me in my future role as a leader in creating a quality and comprehensive strategy for communication with the company’s employees, for whom I am responsible. Ethics in the business allow me, as a leader, to be more inspiring and valuable to other people.
References
Ali, J., & Baboota, S. (2021). Regulatory affairs in the pharmaceutical industry. Academic Press.
Meinhold, R. (2021). Business ethics and sustainability. Routledge.