Ethical Dilemma with Stakeholders
You're the CEO of a pharmaceutical company. Your best-selling drug ($2B annual revenue, used by 4 million patients for chronic pain) has…
As CEO, my fundamental leadership principle in a crisis of this magnitude is: You cannot manage a crisis until you accept the full cost of doing the right thing. A safety issue of 1 in 8,000 patients over 5 years across a 4-million-patient population represents approximately 500 potential cases of liver failure.Read the full answer
As CEO, my primary obligation is to the patients. While a 40% stock drop is a financial catastrophe, a cover-up that leads to preventable deaths is a corporate death sentence and a moral failure. If we "wait for more data" and another patient dies during that window, we move from "negligence" to "criminal intent."Read the full answer