The US Securities and Exchange Commission recently proposed rules relating to shareholder (independent) director nominations to publicly-traded companies. While shareholder groups, such as institutional investors, consumer groups, and shareholder activists, generally support the proxy reform, the business community, including The Business Roundtable and the US Chamber of Commerce, are critical of the proposal, arguing that it will 'open the door' to special interest directors, e.g., labour unions or other groups having a social or political agenda contrary to the economic interests (...) of the shareholder owners of the corporation. An analysis of the proposed rules, however, show that the mechanisms offered to nominate and elect independent directors offer little or no threat of any shareholder group placing special interest directors on the board of a publicly-traded company in the USA. The article concludes with a recommended managerial course of action for executives and boards to follow in the unlikely event that shareholders are seriously threatening to place a special interest director(s) on the proxy ballot. (shrink)

Despite their growing usage in commercial and industrial applications, nanomaterials have yet to be been thoroughly researched as to their potential health, safety, and environmental risk to human life after incorporation into new product improvement, development, design, and manufacturing processes. Identifying the appropriate governance framework for effective risk assessment analysis of toxicological risk to human beings—specifically manufacturing employees and consumers—and other living organisms, resulting from the development and application of these nanotechnology-based products, has yet to be scientifically determined. With major (...) regulatory gaps in the public regulation framework at national and international levels of governance, a proposed private governance framework is needed to assist the existing public regulatory framework with the proliferation of products and manufacturing processes utilizing nanomaterials. There are three distinct (yet complimentary) approaches available to develop a private governance framework to complement existing national public regulatory frameworks: responsible innovation, risk management, and voluntary guidelines/industry standards. The case for supporting a hybrid governance framework, combining public and private governance mechanisms, for nanotechnology is reflective of the current public policy environment that has emerged to best address health, safety, and environmental risk assessment issues concerning nanotechnology and nanomaterials. (shrink)

A business association is a collaborative organization founded and funded by businesses or business owners and usually represents companies operating in an industry or across industries. Business associations often institute a code of ethics, code of practice, and/or code of conduct that guide member company policy and behavior. Specifically, the paper will thoroughly define codes of ethics, conduct, and practice; their relationship to each other is delineated and explained; examples of three business associations’ codes of ethics and/or conduct are explored; (...) and the U.S. legal environment—focusing on antitrust considerations that governs their organizational use—evaluated for business association compliance enforcement. Given this exploratory and explanatory research foundation, managerial recommendations are offered in the discussion section to assist business associations, and by extension, their member companies, in effectively utilizing such association governance codes in both association and company planning, policy development, and operational management activities in domestic and global commerce. (shrink)

In this article, the focus is on developing a governance concept built on integrating the ISO 26000 Social Responsibility standard with an “employee social responsibility” concept developed by the authors. To this end. The authors propose to compliment the voluntary, organizationally adaptable, ISO 26000 SR standard for the organization/firm with a seamlessly integrated—and equally adaptable—ESR concept for the individual/employee of that organization/firm. An SR/ESR governance concept emerges, with an emphasis on implementing a SR-based business enterprise code of conduct and ESR-related (...) functional-level codes of conduct, the latter firmly ensconced in an organization's ethical climate. The conclusion section discusses the strengths and weaknesses of our proposed SR/ESR governance concept. (shrink)

Since the late 1980s, obesity in America has been a looming public health concern. Recently, medical researchers found that, for the 2011‐12 period, 35.3 percent of U.S. adults (aged 20 or older), 20.5 percent of teenagers (ages 12‐19), 17.7 percent of children (ages 6‐11), and 8.4 percent of young children (ages 2‐5) have obesity, and 6.3 percent of U.S. adults having severe obesity. In a recent working paper by Karnani, McFerran, and Mukhopadhyay (2015), these management scholars argue that obesity represents (...) a market failure. In their study, Karnani et al. evaluate the effectiveness of corporate social responsibility, industry self‐regulation, social activism, and government regulation as to its effectiveness on consumer behavior and reducing obesity. Karnani et al. are advocates of “reasonable” government intervention, i.e., tax/subsidies, market regulation, and education, to address the public health issue of obesity. However, evidence shows that reasonable government intervention is also vulnerable to government failure and potential public health risk. Recommended is a mix of institutional activities found in corporate social responsibility, industry self‐regulation, social activism, and government intervention, all of which should provide the direction needed to continue this public health trend away from America’s epidemic levels of obesity. (shrink)

The Dodd‐Frank Wall Street Reform and Consumer Protection Act, signed into law by President Obama in July 2010, included two significant corporate governance mandates: “say‐on‐pay” shareholder voting and the frequency of such votes among all publicly traded companies. The say‐on‐pay rule requires publicly traded companies subject to proxy rules to offer their shareholders an advisory, or nonbinding, vote at least once every three years on the compensation packages of the most highly compensated executives. The actual data for the first five (...) years of say‐on‐pay voting indicates one intractable conclusion: that shareholder say‐on‐pay voting has not verified what many shareholder activists originally believed, i.e., that the majority of shareholders held similar opinions about business executives being significantly overpaid for their managerial performances. During its first five years in effect, the results of say‐on‐pay voting indicate that shareholders are overwhelmingly satisfied with executive compensation packages, as a 92 percent average shareholder say‐on‐pay approval result (i.e., exceeding 70 percent) among companies listed in the Russell 3000 Index attests. (shrink)

Since the onset of the latest United States (U.S.) recession (beginning in December 2007), the U.S. economy has been posting high unemployment levels consistently exceeding 8 percent. Of specific interest, the U.S. Department of Labor, Bureau of Labor Statistics (BLS), reports on a specific subset of the U.S. unemployed: the long‐term unemployed, defined as those who are unemployed for 27 weeks and over. Since December 2009, the share of the long‐term unemployed of the total U.S. unemployed has exceeded 40 percent (...) (through April 2012), the highest level since 1948 when data was first collected. A phenomenon of this recession is an alleged public bias by American private sector employers against hiring the long‐term unemployed, or even simply those unemployed. While the authors support the removal of discrimination against the unemployed in job advertisements, they cannot support the larger notion of including those who are unemployed as a protected class of employees. Becoming or being unemployed is a state that one can change, and based on the lack of research on how widespread this discrimination is (beyond anecdotal stories or limited research surveys), they believe that extending protection under equal employment opportunity legislation would be overreaching and inappropriate at this time. (shrink)

On January 18, 2011, President Obama signed Executive Order 13563, Improving Regulation and Regulatory Review, which instructs federal regulators to do the following: coordinate their agencies activities to simplify and harmonize rules that may be overlapping, inconsistent, or redundant; determine whether the present and future benefits of a proposed regulation justify its potential costs (including taking into account both quantitative and qualitative factors); increase participation of industry, experts, and the public (“stakeholders”) in the formal rule‐making process; encourage the use of (...) warnings, default rules, disclosure requirements, and provisions of information to the public as an alternative to traditional “command‐and‐control” rule‐making restricting consumer choice; and mandate a government‐wide review of all existing administrative rules to remove outdated regulations. Executive Order 13563 includes a qualitative “values” provision to be considered in the required cost–benefit analysis, which can potentially counteract the alleged regulatory reform rationale of President Obama. Furthermore, in Executive Order 13563, President Obama established a deadline of May 18, 2011, for all executive branch agencies to submit their plans to streamline their rulemaking operations and repeal those “overlapping, inconsistent, or redundant” rules. These two issues, along with complementary regulatory review proposals being discussed in the U.S. Congress, are evaluated in this essay. (shrink)

Rising global food prices have driven 44 million additional people into extreme poverty—and malnutrition—in developing countries since June 2010. Partners in Food Solutions , a nonprofit social enterprise affiliated with General Mills, is proposed as the conduit for food industry managers, engineers, and scientists to initially advise small‐ and medium‐sized African mills and food processors—and later other developing countries—on improving supply chain management by addressing manufacturing problems, developing products, improving packaging, extending product shelf, and finding new product markets. In this (...) article, the “creative capitalism” model of sustainability and social and environmental responsibility is applied to the food manufacturing industry's efforts supporting PFS. Furthermore, the evolution of the sustainable business model developed by PFS is thoroughly described, explained, and analyzed as a generic model of social enterprise to be “scaled up” by the global food manufacturing industry. A summary of salient points conclude the article. (shrink)

This article illustrates how a traditional U.S. pharmaceutical industry supply chain operates, beginning with pharmaceutical compounds and ending at patient‐dispensing hospitals or pharmacies. Furthermore, to place the problem of U.S. drug shortages in historical perspective, a review of the annual volume of such shortages over the last decade is undertaken. Following this review of recent drug shortages is an analysis of the market forces and business decisions that drive the creation of a pharmaceutical gray market, its attendant “price gouging” and (...) product integrity issues, and the alterations in the traditional pharmaceutical industry supply chain model. In response to persistent drug shortages, the U.S. Food and Drug Administration (FDA) has recently been empowered by the executive and legislative branches of the U.S. government to actively address this issue. To reflect these FDA challenges, a thorough review of these new agency charges and responsibilities is undertaken. Lastly, an analysis of the results of recent FDA public policy actions on mitigating drug shortages, as well as recommendations tor market‐based solutions to the gray market problem that pharmaceutical manufacturers, hospitals and pharmacies could institute as industry‐wide standards of business practice, are discussed in the conclusion. (shrink)

This article addresses a set of exploratory questions related to emergency contraception and the right to refuse to dispense such drugs. The paper first address the roles of the pharmacist in American society, i.e., as professional, employee, and business owner, and the pharmacists's identity and belief system; second, the paper reviews the status of state law and proposed legislation concerning patient/consumer access to emergency contraceptives; third, it offers an in-depth stakeholder analysis of the ethical and legal responsibilities of pharmacies to (...) stakeholders; and fourth, the paper provides overview of the salient ethical and legal issues concerning patient/customer access to emergency contraceptives relevant to management. The conclusions discuss questions for further research as well as strategic/human policy recommendations that balances the economic, legal, and ethical concerns of all primary stakeholders of the company/business, such as designing a management system which refers customers in a timely fashion; recognizing "conscience clauses," while ensuring that pharmacists "do no harm" to the consumer; and disseminating management "best practices" on "conscience clauses" through joint professional/industry sponsorship. (shrink)

In February 2019, the German federal government announced its new “National Industry Strategy 2030.” Many economies—including the United Kingdom (2017), European Union (2017), and Saudi Arabia (2018)—have announced national industrial strategies addressing the competitive threat of the People’s Republic of China’s 2015 “Made in China 2025” 5-year economic plan to become a global leader in 10 advanced technology manufacturing sectors. The use of the 20th-century term “industrial policy” heralds back to public policy antecedents of what is now evolving globally in (...) the 21st century as national “industrial strategy,” a concept explored in this article. Unlike traditional 20th-century efforts at industrial policy (which focused on public policy efforts to maintain domestic primacy of declining, older industries), national industrial strategy recognizes (and generally accepts) the international global economy as a foundation of competition. Most importantly, national industrial strategy focuses on technologically emerging industries as well as the national government working collaborative in a partnership with these emerging industries to meet future growth challenges and opportunities. (shrink)

Among American adults 20 years and older, 59 percent take at least one prescription drug on a regular basis. Unlike most branded drugs, which are generally drugs that have a trade name and are protected by a patent, off‐patent generic drugs make up approximately 90 percent of prescriptions annually filled in the United States; yet in 2017, generic drugs made up only 23 percent of total drug costs in the U.S. The U.S. Food and Drug Administration has taken the lead (...) in encouraging increased competition in the nation's prescription drug marketplace, most recently with its release of the agency's Drug Competition Action Plan, but also with its regulatory guidance and enforcement efforts to eliminate “gaming” of the regulatory process by both branded and generic pharmaceutical manufacturers. Such “gaming” activities include “pay‐for‐delay” agreements involving financial compensation between branded and generic pharmaceutical manufacturers to forestall the emergence into the market of generic pharmaceuticals to compete against a formerly patent‐protected branded drug. A combination of new enabling legislation, federal judicial guidance, and agency regulatory activities show promise in encouraging increased competition in the prescription drug marketplace, with the American consumer the ultimate beneficiary of lower health care costs and improved overall personal health. (shrink)

In this article, we address the public issue of mandatory Genetically Modified Organism (GMO) retail food labeling in the U.S., first by reviewing the policy arguments both in support and against labeling food containing GMOs; second, by describing the existing U.S. federal regulatory system pertaining to GMO labeling, and why it does not presently require labeling of food containing GMOs; third, by reviewing and interpreting the results of studies of American consumer attitudes toward mandatory GMO retail food labeling; fourth, by (...) evaluating, through the utilization of issue life cycle analysis in the nonmarket environment, where the issue of GMO retail food labeling stands in the national public policy process; fifth, summarizing the state of scientific evidence addressing the safety of GMO foods and the existing regulatory and public policy environment for this issue; and sixth, offering legislative and litigation strategies for the mainstream food nonmarket strategy framework to formally assess the GMO industry to protect their interests and those of American consumers not concerned with GMO food ingredients, while offering a voluntary labeling strategy for firms responding to and recognizing the “rights” of American consumers who “choose” to purchase non‐GMO food products. (shrink)

This article begins by explaining the concepts of proprietary and open source software technology, which are now competing in the marketplace. A review of recent individual and cooperative technology development and public policy advocacy efforts, by both proponents of open source software and advocates of proprietary software, subsequently follows, with supporting positions articulated. This is followed by an analysis of the results of a recent draft of a Center for Strategic & International Studies global study of government initiatives to incorporate (...) open source software as an option in their institutional operations. The article concludes with analysis and recommendations on public policies for appropriate software technology assessment policy. For governments, the encouragement of neutral standards (i.e., not favoring one software business model), open competition for research funding of software development, and nondiscrimination in computer software procurement policies will result in the most effective and efficient procurement decisions. (shrink)

This article address the issue of employee safety and the social responsibility of multinational apparel retailers who contract with Bangladesh manufacturers in their global supply chain. Both the Alliance for Bangladesh Worker Safety and the Accord on Fire and Building Safety in Bangladesh have been identified as the two primary facilitators for global apparel industry efforts to actively address this serious human rights issue; thus, they have the potential to help drive the success of the industry's corporate citizenship efforts to (...) successfully manage the issue of fire and building safety in Bangladesh. The article further explores these relationships within the context of the “global corporate citizenship” concept, and develops a rationale for the limits of a socially responsible supply chain. In the context of global corporate citizenship, the article describes the existing state of these two industry organizations remediation efforts to ensure a stable supply chain in Bangladesh, and offers an analysis of existing industry nonmarket strategy approaches to improving contractor's factory fire and building safety environments for their employees. Lastly, a comprehensive set of nonmarket strategies for multinational apparel retailers is recommended when addressing their global corporate citizenship commitments to a safe working environment for Bangladesh garment manufacturing employees. (shrink)

Is it socially responsible to price at a premium, company branded generic pharmaceuticals in emerging economies? Building toward an answer to this question, the study first describes the role of the branded generic sector in the economic success of the global pharmaceutical industry. Second, the concept of “shared value,” i.e., the link between competitive advantage and corporate social responsibility, is introduced and applied to the global pharmaceutical industry’s position on marketing generic pharmaceuticals. Third, an empirical evaluation ascertains whether there is (...) sufficient shared value for this company branded generics pricing strategy to be considered “socially responsible.” Fourth, after concluding there is sufficient shared value, a discussion section offers a public/private framework that will help ensure that safe and effective pharmaceuticals are sold to consumers in developing economies. Lastly, a summary and conclusion section completes the article. (shrink)

The Global Economic Ethic Manifesto is a credo embodying a set of basic transcultural values aimed at encouraging ethical dealings by business enterprises. However, through analysis of documents and expert interviews, study findings reveal that there has been little adoption and/or implementation of the Ethic Manifesto since its celebrated United Nations launching in 2009. Only sixty-three signatories have signed on, consisting of a majority of individuals, and the remaining twenty-seven are primarily affiliated with European business enterprises. Our study recommendations include (...) tighter integration of the Ethic Manifesto with the Global Compact; an organizational commitment, i.e., by the CEO and board of directors, to the Ethic Manifesto; a broad-based reporting requirement on general progress in meeting the Ethic Manifesto’s principles; and business enterprise use of a logo indicating conformance with the principles of the Ethic Manifesto to stakeholders, all of which could improve business enterprise participation in this civil society initiative. (shrink)

The Global Economic Ethic Manifesto (" Manifesto") is a moral framework/code of conduct which is both interactive and interdependent with the economic function of the main institutions of the economic system: markets, governments, civil society, and supranational organizations, which lays out a common fundamental vision of what is legitimate, just, and fair in economic activities. The Manifesto includes five universally accepted principles and values: the principle of humanity; the basic values of non-violence and respect for life; the basic values of (...) justice and humanity; the basic values of honesty and tolerance; and the basic values of mutual esteem and partnership. We posit that the Manifesto provides an ethical foundation for explicitly assisting multinational enterprise's (" MNE") executive management and boards of directors to meet the moral failures criticisms associated with the expansion of global capitalism, and similarly how the U. N. Global Compact (" Compact") is focused on addressing complimentary market and institutional failures. In this article, we argue how the Compact and the Manifesto complement each other, explaining how the policies and guidelines of the Compact can now be implemented at the organizational/individual level through a comprehensive human resource management (HRM) plan supporting the ethical framework of the Manifesto. Finally, we have described how the Manifesto completes a comprehensive managerial framework (consisting of both the Compact and the Manifesto) for what we term an "MNE Moral Values-Based Corporate Governance Model." Ultimately, further research is needed in understanding how much impact external and internal influences make on creating a sustainable ethical culture in MNEs. (shrink)

The PRIME Institute of the College of Pharmacy, University of Minnesota, recently released preliminary research findings indicating a trend of extraordinary pharmaceutical industry pricing of drug products in the United States (U.S.). According to researchers at the PRIME Institute, such extraordinary price increases are defined as any price increase that is equal to, or greater than, 100% at a single point in time. In some instances, PRIME Institute researchers found that drugs exhibiting extraordinary price increases are categorized as "orphan drugs" (...) (or blood-related biologic treatments) and often life-saving or life-sustaining for treating the cause or symptoms of diseases affecting fewer than 200,000 people in the U.S., or where there is prevalence of less than 5 per 10,000 people afflicted with a disease or symptoms in the community. Because of extraordinary price increases for orphan drugs — some exceeding 1000% at a single point in time -this article addresses two interrelated questions: Are extraordinary orphan drug price increases socially responsible behavior? If so, are the pharmaceutical industry's policies providing orphan drug access to American consumers in dire need of available life-sustaining and life-enhancing pharmaceuticals considered "socially responsible" behavior? The author concludes, after an interdisciplinary analysis of the legal, economic, sociopolitical, and ethical dimensions of orphan drug pricing, that they are not socially responsible – unless justified by cost and availability of health care marketplace/patient options. Furthermore, the author recommends a socially responsible industry strategic approach to insure that patients ultimately receive -regardless of cost -timely access to life-saving and life-sustaining orphan drugs. (shrink)

Self-regulation exists at the firm-level, the industry-level, and the business-level of economic organization. Industry self-regulation has faced economic (free rider) and legal (antitrust) impediments to widespread implementation, although there exist examples of effective industry self-regulation, e.g., securities industry and the SEC, advertising and the FTC. By instituting industry codes of conduct, national trade associations have shown to be natural vehicles for self-regulation. While there has been long-standing general encouragement for establishing industry codes, adopting and enforcing conduct codes has been seriously (...) circumscribed by restrictive Supreme Court decisions and FTC advisory opinions. One approach to clearing legal confusion is to petition the FTC to issue an industry guide on promulgating and enforcing trade association codes of conduct. Another strategy is to utilize a stakeholder approach to association ethics committee appointments that subsequently influence code creation and enforcement. Finally, a new concept of an industry code of conduct will consist of three subcodes: an economic code; an environmental code; and a socio-political code. Combined, these strategic approaches will offer new opportunities for effective nonmarket regulation. (shrink)

Since the mid-1980s, internal corporate investigations have become commonplace in the U. S., with an upsurge occurring as a result of the corporate scandals of 2001-02 involving Adelphi Communications Corporation, Enron, Merck & Company, Riggs Bank, and other companies accused of financial malfeasance. After an introduction, this article first presents the U. S. public policy framework (as implemented through the U. S. Sentencing Commission, the U. S. Department of Justice, and the Securities and Exchange Commission) encouraging the use of corporate (...) internal investigations and self-reporting of these results to federal authorities; second, evaluates this framework, identifying the public policy issues inhibiting companies from using corporate internal investigations and self-reporting significant results; third, proposes a policy incentive regime which attempts to ameliorate these outstanding issues; and fourth, offer policy recommendations and suggestions for further research on this topic, including increasing the maximum deduction in the Organizational Sentencing Guidelines Culpability Score available to a firm for development of an Effective Compliance and Ethics Program (from 3 to 5 points), and self-reporting the results of an internal investigation (from 5 to 7 points); evaluating the effectiveness of these enhancements in legal incentives over a period of 5-7 years after implementation; instituting a formal federal government effort to educate the American business community on the corporate reputation (and financial) benefits of an effective compliance program; and protecting attorney-client privilege and work product protection, through legislative action, to encourage company executives and directors to utilize independent, outside attorneys to conduct fair, comprehensive, and impartial internal investigations. (shrink)

The notorious but: unimpeachably corroborated case of Pavlov's mice raises, in capsule form, a variety of fascinating issues with far-reaching ramifications in several directions, but with particularly serious implications, several of which are well worth restating and pondering further (cf. Sebeóle 1977b: 192-201), both for the foundations and research methodology of contemporary semiotics.

When we love a place: world's end with Cormac McCarthy -- Mourning places and time in Augustine -- The conversion of time to the time of conversion: Augustine with Marion -- The time of his syllables: dying together with Derrida and Augustine -- Thinking love and mortality with Heidegger -- World loss or heart failure: pedagogies of estrangement in Harrison and Nancy -- Ages of learning . . . the secular today with Emerson and Nietzsche.

Non-epistemic values play important roles in classificatory practice, such that philosophical accounts of kinds and classification should be able to accommodate them. Available accounts fail to do so, however. Our aim is to fill this lacuna by showing how non-epistemic values feature in scientific classification, and how they can be incorporated into a philosophical theory of classification and kinds. To achieve this, we present a novel account of kinds and classification, discuss examples from biological classification where non-epistemic values play decisive (...) roles, and show how this account accommodates the role of non-epistemic values. (shrink)

Biochemical and cryo‐electron microscopy studies have just been published revealing interactions among proteins of the yeast replisome that are important for highly coordinated synthesis of the two DNA strands of the nuclear genome. These studies reveal key interactions important for arranging DNA polymerases α, δ, and ϵ for leading and lagging strand replication. The CMG (Mcm2‐7, Cdc45, GINS) helicase is central to this interaction network. These are but the latest examples of elegant studies performed in the recent past that lead (...) to a much better understanding of how the eukaryotic replication fork achieves efficient DNA replication that is accurate enough to prevent diseases yet allows evolution. (shrink)

Natural kinds are often contrasted with other kinds of scientific kinds, especially functional kinds, because of a presumed categorical difference in explanatory value: supposedly, natural kinds can ground explanations, while other kinds of kinds cannot. I argue against this view of natural kinds by examining a particular type of explanation—mechanistic explanation—and showing that functional kinds do the same work there as traditionally recognized natural kinds are supposed to do in “standard” scientific explanations. Breaking down this categorical distinction between traditional natural (...) kinds and other kinds of kinds, I argue, delivers two goods: It provides us with a view of natural kindhood that does justice to the epistemic roles of kinds in scientific explanations. And it allows us to solve a problem that HPC theory, currently one of the more popular accounts of natural kindhood, confronts. (shrink)