Can someone do a reply to this threadReply to the threads posted by 2 classmates who supported a different  balance, or used a different rationale than you did on at least 1 of  the issues under dis

Can someone do a reply to this thread

Reply to the threads posted by 2 classmates who supported a different  balance, or used a different rationale than you did on at least 1 of  the issues under discussion. Identify the points of difference in your  analysis and explain how your application of the relevant law to the  facts of this situation led you to a different conclusion.

Each reply must be supported by 3 scholarly sources other than the  textbook/course materials. Each source must be properly cited in current  APA format.

Review the Assignment Instructions for Discussion  Board Forums, noting especially requirements for word counts, scholarly  sources, and biblical worldview integration.

Submit your replies by 11:59 p.m. (ET) on Sunday.

FIRST THREAD NEEDED TO BE REPLIED TO

Michael Hall                           

Discussion Board 2

How should a for-profit corporation balance its business needs with the needs of its customers?

                In a for-profit business the main goal is typically  to make money selling a product and then, where possible and profitable,  expand into new markets and make even more money. To do this, an  organization must have customers.  Having said that there needs to be a  balance between the company’s needs and the customer’s needs.  Philippians 2:4 (English Standard Version) states, “let each of you look  not only to his own interests, but also to the interests of others.”  Should they ignore their customers then the customers will likely jump  ship and move to another company that is willing to listen to them.  Companies must start thinking of customer value strategically by  recognizing that every point of interaction with the customer affect the  perception of value and the company’s ability to deliver superior value  (McFarlane, 2013).  Thinking this way should prompt companies to focus  on customer satisfaction first and then towards growth once the customer  base is established.  With the guidance of scripture and through faith  and prayer Christian business owners can expect this to grow their  business as well. Jeremiah 29:11 (New International Version) reminds us,  “For I know the plans I have for you, plans to prosper you and not to  harm you, plans to give you hope and a future.” While this scripture is  often applied to personal growth and advancement, I feel it is  applicable to business dealings as well.

Do companies whose mission is primarily to create products on  which lives depend have a greater responsibility to tip the balance  toward the consumer more than toward themselves?

Pharmaceutical companies are among the most  well-known companies that manufacture products that are vital to the  health and welfare of the human populace. Some pharmaceutical companies  even have patents on chemical formulas that make them the one and only  supplier for that specific drug.  This puts these companies in the  spotlight more often than other companies. This is very similar to how  credit bureaus and credit card companies are under more scrutiny when it  comes to protecting personal information versus those companies that do  not deal primarily with privacy act information. For this reason, I  believe that these drug companies have an ethical or moral obligation to  tip the balance toward the consumer instead of themselves. Knowing that  it is the sole manufacturer of a lifesaving medicine should lead a  moral business owner to provide it at a price that most people can  afford. This is often not the case however as has been recently seen  when Mylan, one of the sole providers of Epinephrine injectors, decided  to raise the price of the EpiPen 200% over just 2 years.  This enraged  people so much that racketeering charges were brought up against the  company. On September 21, 2016, the House Committee on Oversight and  Government Reform held hearings at which Mylan’s Chief Executive  defended her company’s price increases (Cohen, 2016). The price hikes  were defended by showing market research showing the market would bear  the price, and that a cheaper alternative was in production and would be  on the market soon.  While the company was within it rights to do this,  it left many people unable to purchase the pens even with insurance  covering part of the cost.  This could have led to both kids and adults  not having access to the lifesaving medicine.  I think we can all agree  that this is ethically wrong. Legally though, companies have a right to  charge whatever they want for the products that people are willing to  purchase or what the market may bear.  Perhaps this will change one day  in the future.

If you were running such a company, looking through the lens of a Biblical worldview, how would you respond? 

As a Christian and using a biblical world view  I would have some serious reservations about setting prices so high as  to keep them out of the reach of most individuals.  Paul reminds us in 1  Corinthians 10:23 (English Standard Version) that, “All things are  lawful, but not all things are helpful. All things are lawful, but not  all things build up.” Even thought the Supreme Court of the United  States has upheld the right of companies to pay to maintain their  monopolies (Grouse, 2014), and thus charge higher prices due to the lack  of competition, does not mean that I would keep the price so high to  maximize profits. If presented with proof that the product I was  manufacturing was out of range of most people and was the only one  available to them I would do everything in my power to bring the price  down to a reasonable level without sacrificing at least a minimal  profit.  Even though I want to turn a profit and I do have employees to  pay and overhead costs to contend with I think 800%+ mark-up over  manufacturing price is obscene.

References

Cohen, S.S. (2016). Soaring prescription drug prices. Policy, Politics, & Nursing Practice, 17(3), 115-117.

Grouse, L. (2014). Cost-effective medicine vs. the medical-industrial complex. Journal of Thoracic Disease, 6(9), 203-206.

McFarlane, D.A. (2013). The strategic importance of customer value. Atlantic Marketing Journal, 2(1), 62-75.

SECOND THREAD TO REPLY TO 

BUSI561: Intellectual Property Rights Discussion Board Forum 2

Jennifer Augustin

Liberty University

Corporate Balance of Business and Consumer Needs 

It  is essential for companies to constantly be progressing and continue  process improvement, those that remain stagnant, may succumb to an ever  changing world.  Customer relationship management (CRM)  is a strategy used in which customer and corporate needs are balanced.   By evaluating and addressing any deficiencies in the five dimensions of  service between expectations and reality by both the customer and  internal components, a company’s service quality could be improved  dramatically (Wang, 2008).  The five dimensions include:

tangibles  – the appearance of the physical facilities, personnel and  communication channels; reliability – the ability to provide accurate  and dependable service; responsiveness – willingness to assist customers  at a speedy and efficient manner; assurance – features that convey  trust and confidence; and empathy – readiness to provide each customer  with individualized attention and personalized service (Wang, 2008, p.  6).  

In turn, corporate profits have a higher likelihood to increase, as well as, customer satisfaction.  

Creator v. Consumer in the Creation and Management of Intellectual Property

Finding  the balance between pleasing the customer, while still turning a profit  is a constant struggle for companies.  Ethical practices and Christian  application may be put to the wayside in order to please the  stakeholders.  In the instance with intellectual property (IP) laws,  they may be used to protect other companies from “stealing” ideas and  create a stronghold in the marketplace, but one could argue that is can  dampen innovation. 

Romans  12:17-21 17 gives the example of fair business practices, and to do  what is right, not just by the stakeholders, but consumers as well.  

Do  not repay anyone evil for evil.  Be careful to do what is right in the  eyes of everyone. If it is possible, as far as it depends on you, live  at peace with everyone.  Do not take revenge, my dear friends, but leave  room for God's wrath, for it is written: "It is mine to avenge; I will  repay," says the LORD. On the contrary: "If your enemy is hungry, feed  him; if he is thirsty, give him something to drink.  In doing this, you  will heap burning coals on his head."  Do not be overcome by evil, but  overcome evil with good.

Profit and Return on Investment for Company Owners/Shareholders

While  some may say unconventional, the free patent release approach have been  explored by companies in hopes of encouraging innovation (Ziegler, Gassmann, & Friesike, 2014).  

From  an IP strategy perspective, opening up the innovation process means  also to consider using IP, and especially patents, as a means to  exchange and share knowledge. Extant literature on open innovation  emphasizes that IP should be considered as an enabler of open innovation  instead of a disabler (Ziegler, Gassmann, & Friesike, 2014, p. 19) 

With  the patent release, it encourages economic growth, but also social  responsibility.  Companies that are acknowledged for their IP sharing  are viewed more positively and greater chance to enhance their corporate  reputation among other firms and the general public (Ziegler, Gassmann, & Friesike, 2014).  

Social Responsibility of Protecting Lives 

IP  laws protect from infringement on trademarks, patents and copyrights.   Though the intent behind is to protect those that have created or  developed a unique product or idea, the vagueness of all that is  protected is under scrutiny, some claiming too difficult to innovate  with the fear a product or idea is too similar to competitors (Kubasek, Browne, Barkacs, Herron, & Dhooge, 2016).   

Mylan  found itself in hot water when it raised the price of life saving  EpiPen by 400%.  The makers cited material cost increase and investment  on operational research were the contributing factors.  A public outcry  was heard around the country.  Mylan has essential monopolized the  epinephrine distribution device market.  While nearly impossible to put a  price on a life, some families were forced to choose between the life  saving device or putting food on the table.  A drug company such as  Mylan, must find the balance of still pleasing shareholders, but also  providing medical devices that are affordable for individuals.  The  price hike has even garnered the attention of Congress, raising the  question of the ethical and lawful acts of pharmaceutical pricing (Lyon, 2016).

Patent  design of the product is what prevents other companies from replicating  ideas in the autoinjector epinephrine market place.  The usage of an  unexposed needle and simple procedural design, allows users for quick  and relatively easy administering.  In contrast, EpiPens main (former)  competitor, the Twinject, is a little more complex in administering the  drug.  The exposed needle and two cap design may take away valuable  seconds in a life threating situation (Guerlain,  Hugine, & Wang, 2010).  In a study conducted with 48 individuals of  various ages, genders and background knowledge, were given 1 hour to  read the instructions for 4 epinephrine autoinjection devices, 2 were  prototypes, 1 EpiPen and 1 Twinject.  One of the prototypes provided a  voice prompt system as to what to do in an anaphylaxis situation, with  step by step instructions given, the success rate was far greater than  any of the other 3.  If a patent was to be provided for this type of  instruction, it may limit the effectiveness of other lifesaving  devices.   

Finding the Balance Between Pleasing Stakeholders but Garnering a Consumer Following to Continuing Existence of the Company

Various  studies conducted have concluded it is far less expensive and labor  intensive to maintain positive customer relationships, vice seeking new  customers.  The use of the 80-20 rule 

recognizes that approximately 80% of profits come from 20% of the top customers (Kotler & Keller, 2016).  The  thought process of a consumer was studied and was able to conclude that  even if a product was more expensive, a previous positive experience  will increase the likelihood of a repeat purchase (Yoon, 2009).   Positive brand recognition may influence a buyer’s choice to initially  go with a product, but an overall satisfactory experience will encourage  a customer loyalty. 

An  example of garnering a vast group of loyal customers is the outdoor  equipment and apparel company, Patagonia.  Patagonia prides itself on  ethical practices that cause no undo harm on the environment, while  still creating a product that is of high quality and yet still  fashionable.  While sticking to its core ethics, the approach appeals to  both stakeholders and customers.  The progressive movement to protect  the environment and still hear out the needs of the customer have led to  a large profit margin and continuous growth (Patagonia's Mission Statement, n.d.).   

Biblical Integration Importance While Running a Company

Matthew  11:28-30 28 shows the compassion in which a company should show,  especially if the company produces lifesaving devices.  Though a company  relies on profits, that should not be the only motivating factor.  

Come  to me, all you who are weary and burdened, and I will give you rest.   Take my yoke upon you and learn from me, for I am gentle and humble in  heart, and you will find rest for your souls.  For my yoke is easy and  my burden is light (NIV).

Relevant Law for Protecting Intellectual Property of the Company

In  conjunction with 18 U.S. Code § 1832, 15 U.S.C. § 1125, and 17 U.S.C.  §101, offers protection of intellectual property of trade secrets,  copyrights and trademarks to ideas, concepts and products.  

Needs of Patients, Practitioners, And Society

The author, Pray, investigated  the effects of Intellectual Property Rights (IPR), more specifically  the potential of an infringement with developing countries.  Growth and  innovation may be limited if ideas and research may not be shared  (2005).  The enticement of highly skilled workers could happen if there  is substantial economic growth, as well as, the likelihood of further  funding for research.  IPRs may affect the way idea sharing or research  is conducted, but given the opportunity, advancements and economic  growth can occur, especially in developing nations. 

References

Guerlain,  S., Hugine, A., & Wang, L. (2010). A comparison of 4 epinephrine  autoinjector delivery systems: Usability and patient preference. PMC,  172-177. doi:10.1016/j.anai.2009.11.023

Kotler, P. T., & Keller, K. L. (2016).  Marketing management  [MBS Direct]. Retrieved from 

            https://mbsdirect.vitalsource.com/#/books/9780133856606/ 

Kubasek,  N. K., Browne, M. N., Barkacs, L., Herron, D., & Dhooge, L. (2016).  Biblical Worldview Edition of Dynamic Business Law. N. J. Kippenhan  (Ed.). New York, NY: McGraw Hill Education.

Lyon, J. (2016). Significant increases in EpiPen price. Jama, 316(14), 1439-1439. doi:10.1001/jama.2016.14178

Patagonia's Mission Statement. (n.d.).  Retrieved June 22, 2018, from             http://www.patagonia.com/company-info.html

Wang,  M. (2008). Measuring e-CRM service quality in the library context: A  preliminary study. The Electronic Library, 26(6), 896-911.  doi:10.1108/02640470810921655

Yoon,  H. J., Thompson, S. S., & Parsa, H. G. (2009). Bayesian approach to  assess consumers’ brand selection process and identification of brand  attributes in a service context. International Journal of Hospitality Management, 28(1), 33-41.  doi: 10.1016/j.ijhm.2008.03.003

Ziegler, N., Gassmann, O., & Friesike, S. (2014). Why do firms give away their patents for free? World Patent Information, 37(June 2014), 19-25. Retrieved from https://doi.org/10.1016/j.wpi.2013.12.002