Read the Equifax’s Data Breach (attached). Then, answer the following four questions:
1. Do you think the company reacted appropriately upon learning about the breach? Why why not?
2. What type(s) of ethical climate existed at Equifax, and did this contribute to the hacking issues there?
3. What changes should managers and the board of directors make now to reduce the likelihood of an incident like this from occurring in the future?
4. What types of ethics training would you recommend for Equifax employees in the future to prevent such corrupt behavior?
Need 4-5 pages. No introduction/conclusion needed for this one.
Need peer-reviewed citations in APA format.115
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C H A P T E R S I X
Faced with increasing pressure to create an ethical environment at work, businesses can take
tangible steps to improve their ethical performance. The organization’s culture and ethical work
climate play a central role in promoting ethics at work. Ethical situations arise in all areas and func-
tions of business, and often professional associations seek to guide managers in addressing these
challenges. Corporations can also implement ethical safeguards to create a comprehensive ethics
program. This can become a complex challenge when facing different customs and regulations
around the world.
This Chapter Focuses on These Key Learning Objectives:
LO 6-1 Classifying an organization’s culture and ethical climate.
LO 6-2 Recognizing ethics challenges across the multiple functions of business.
LO 6-3 Creating effective ethics policies and identifying responsible individuals to become the
organization’s ethics and compliance officer.
LO 6-4 Constructing successful ethics reporting mechanisms, ethics training programs, and similar
LO 6-5 Understanding how to conduct business ethically in the global marketplace.
Final PDF to printer
116 Part Two Business and Ethics
law43665_ch06_115-136.indd 116 11/14/18 01:42 PM
In 2016, British regulators fined the U.S. pharmaceutical giant Pfizer $107 million for
overcharging 48,000 patients in their national health care system for the generic version of
the epilepsy drug phenytoin sodium. Pfizer had worked with the drug distribution com-
pany, Flynn Pharma Limited, to de-brand the drug in 2012 in order to raise the price to
insurers. Generic drugs are not normally subject to government—pharmaceutical com-
pany negotiations, so the prices could be freely determined by Pfizer. The drug company
charged wholesalers and pharmacies a price 17 times higher than the amount it had
charged before 2012.1
In 2016, Wells Fargo, a global banking and financial giant, was fined $185 million
for issuing credit cards to consumers without their consent. Over a period of five years,
Wells Fargo employees opened around 1.5 million unauthorized bank accounts and issued
over half a million credit cards fraudulently. Over time, consumers started to accumulate
banking fees for accounts they did not want or know about. Some of the victims were even
contacted by debt collectors for not paying their fees. Wells Fargo refunded approximately
$2.6 million to the affected consumers, but the damage to these individuals’ credit ratings
lingered on. Over 5,300 Wells Fargo employees and managers involved in the scandal were
fired as the firm cited major weaknesses in the company’s corporate culture.2
Pfizer and Wells Fargo are just two of many companies from around the world that
over the years have been charged with excessive pricing, defrauding their customers, lying
about their finances, mishandl
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