Business Ethics The situation when uncontrolled private companies are engaged in research on genetic issues is very risky not only for the country but for every citizen. One has to realize the major significance of the creation of the algorithm of actions that will allow the use of research results only for the benefit of mankind. Modern technology and studies related to the experiments on DNA are crucial aspects that require immediate and thorough consideration of all states and the international community as a relatively new discipline, genetic engineering, raises the question of preservation of universal values, such as life, procreation, genetic patterns, and the universal human rights. Naturally, the authorities and scientists have to contribute to the fulfillment of the genetic engineering potential, because the results of research in this sphere can optimize people’s life. However, the companies engaged in exploration of DNA must be clearly listed, acknowledged, and eligible to obtain the research data. Therefore, the essay will examine whether the research company has to regulate the use of the product by its customers and whether the existent standards are sufficient. Firstly, companies involved in genetic research are not bound to regulate their own products. Moreover, such incidents should not occur in any case as the companies still do not have the legitimate algorithm for determining the future product usage by buyers. However, it is worth noting the high moral values of the manager and the owner of the project. It is commendable that the company tried to follow high ethical standards and be responsible to the community. On the other hand, company’s approach is subjective, and, therefore, it should not influence the decision on such vital issues as the use of the sophisticated technology, especially in genetic engineering. It is clear that the company’s standards are not sufficient for determining the “bona-fide” use. The “bona-fide” use refers to a moral question which is associated with honesty and trust. For instance, on no account should the company engage in illegitimate activities when it comes to delivering the service to potential customers, because it destroys trust between the seller and the buyer. Therefore, the company should develop codes of conduct that will guarantee the use of company’s goods or services for the benefit of mankind. The organization is also required to develop a well-organized system to address ethical issues that include decision-making in controversial situations. The company and its investors expect profits from their work and income. It can pledge to commit actions contrary to the general rules of ethics and morality. The only way for the company to address this multifaceted issue is the code of conduct and laws. As a matter of prudence, the organization has to be accountable to the government for the genetic research data and their future use. Accordingly, the results cannot become the property of other companies without company’s immediate cooperation with the legislation of the country and, subsequently, can be sold only with the permission from the government. The company has to understand that innovation and technology can have their advantages and disadvantages, and, thus, it should clearly regulate their application. Moreover, the process of globalization and the increase of economic and political interests of companies in genetic surveys further aggravate the situation with the projects that explore DNA. If the company sells the product without the legitimate permission and maintenance of high ethical standards, it can affect the company's image and lead to negative consequences, such as the lack of investors or even bankruptcy. To conclude, the company does not have sufficient resources and standards for determining the “bona fide” use of their achievements. On the other hand, it is not obliged to monitor the potential buyers and forecast the future use of the products or services. Additionally, the company has to conduct all their activities in accordance with the laws of the country.
About author Emily works as an editor at https://primeessay.org/great-editing-tips.html. She directly participates in editing and supplementing interesting and unique works for any student, ensuring their correctness and relevance. Emily studied at the Faculty of Philology and holds a master's degree