As Pfizer, a multinational corporation, we have certain ethical responsibilities. There are two traditional stakeholder theories by which my company may operate. One is the ownership theory. The ownership theory is mainly focused on making a profit: maximizing shareholder returns and making as much money as possible for those who own stock in the firm. This theory is ethically wrong because it only accounts for stockholders and owners as true stakeholders of the firm. Another theory is the stakeholder theory of the firm. The stakeholder theory argues that the corporation serves a broader purpose. This is to create value for society. It focuses on making profits for owners, but it also creates other kinds of value. Corporations have multiple obligations; all "stakeholder" groups must be taken into account. It is also proven that companies that behave responsibly towards multiple stakeholder groups perform better financially than those companies that do not. The stakeholder theory can be seen as the 'right' thing to do. My company will only operate according to the stakeholder theory. .
As a manager at Pfizer, I have to develop certain ethics. I will adopt a bureaucratic ethic to guide my work style. The 'bureaucratic' ethic is a moral code that guides managers through all the dilemmas and changes that confront them in their organizations. Bureaucracy is not just a technical system. It is a system of power, privilege, and domination. All employees will be given equal opportunity to work and rise in ranking in the workplace. As a manager, I have responsibilities to my lower level employees but only up to a certain point. In a big organization like Pfizer, details get pushed down the hierarchy while credit gets pulled up. I will not always give my employees explicit instructions, part of it is their own responsible to take ownership in the work they are doing and to maximize their autonomy.
