Business Ethics Essay

The problem of self-regulation of products is very important for businesses, especially if they operate in sensitive areas, such as health care because their products may have a considerable impact on the quality of life of consumers. At this point, it is possible to refer to the case of David Johnson and his company operating in the field of biotechnology. The company sells products, which give access to genetic information, which is very sensitive and may affect customers’ quality of life consistently that makes it self-regulation of products policy essential and this policy should be the bedrock principle of the company’s business.

The self-regulation of products is essential because the company offers biotechnology, which opens the access to the private information of patients and the revelation of such information may be extremely harmful for patients. This is why the self-regulation of products is the tool that helps to protect patients from misusing the information obtained on the ground of the technology provided by the company.

On the other hand, the major drawback of such policy is the role the company plays since it is the company that decides which customer to sell the technology and which one not to sell. However, the company may not always understand properly the significance of the use of its technology by researchers. For example, the company may believe that a researcher will try to obtain and misuse the genetic information of customers. But, in actuality, the researcher can make a discovery that will save millions of life and provide the remedy to an incurable disease. However, the company by its self-regulation policy will not provide that researcher with its technology and the outstanding discovery will not be made. In other words, the company may not always take right decisions and the self-regulation policy may not always work right.

In such a situation, the company confronts the ethical dilemma. On the one hand, the company is aware of the full potential of its technology and this is why the company has introduced the self-regulation product policy. This policy was introduced to regulate the use of the company’s biotechnology and to prevent the misuse of the technology for offensive purposes in relation to patients or people, which the biotechnology is applied to. On the other hand, the company cannot be always certain in the adequacy and rightness of its self-regulation policy. Hence, this policy may prevent potentially important scientific studies and useful discoveries.

Therefore, the company’s ‘bona fide use’ standards are not sufficient. Instead, the company should enhance the control over the use of its technology and involve independent auditors or experts, who can evaluate the use of the biotechnology of the company by researchers and other stakeholders. In fact, the involvement of a third party may help the company to take more objective decisions on whether to grant a particular researcher with the access to the biotechnology or not. However, the third party should be a reputable public, non-profit organization to ensure that decisions taken by the company and that organization will serve to the common good and will meet interests of the public and patients.

Thus, the self-regulation policy conducted by the company is important but insufficient to prevent the risk of misuse of its biotechnology or erroneous refusal to provide access to that technology. The extension of decision makers and stakeholders framework may help the company to enhance its self-regulation policy. The involvement of independent experts and public organizations can help the company to take right decisions concerning the further use of its biotechnology.

The terms offer and acceptance. (2016, May 17). Retrieved from

[Accessed: March 29, 2024]

"The terms offer and acceptance." freeessays.club, 17 May 2016.

[Accessed: March 29, 2024]

freeessays.club (2016) The terms offer and acceptance [Online].
Available at:

[Accessed: March 29, 2024]

"The terms offer and acceptance." freeessays.club, 17 May 2016

[Accessed: March 29, 2024]

"The terms offer and acceptance." freeessays.club, 17 May 2016

[Accessed: March 29, 2024]

"The terms offer and acceptance." freeessays.club, 17 May 2016

[Accessed: March 29, 2024]

"The terms offer and acceptance." freeessays.club, 17 May 2016

[Accessed: March 29, 2024]
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