Picard Pharmaceuticals, Inc. ("Picard"), operates the largest pharmaceutical manufacturing company in Washington State. Picard has a reputation of paying its employees 10% more than any other company in the pharmaceutical manufacturing industry. In addition, Picard provides a company paid medical and dental insurance plan. as well as a generous 401K retirement plan (which matches its employees' contributions up to 10% of employee wages).

Due to the costs associated with the state's significant regulations, Picard has seen its profits drop by at least 10 percent for each of the past five (5) years. To address this concern, Picard is considering whether it should relocate to South Dakota. South Dakota offers a business-friendly climate with far fewer regulations.

If Picard decides to relocate, it will offer each of its current employees (2,275) assistance relocating to South Dakota. Wages, however, will drop by 35% to stay in line with South Dakota's low cost of living. All other benefits will remain unchanged. Picard expects to lose at least 50% of its current workforce who will not want to relocate to South Dakota. Studies indicate it will take these employees at least 12 months to find comparable work. It is further estimated that none of its employees will be able to find similar benefits.

Picard has determined that it will have no difficulty replacing its lost employees with the highly trained workforce available in South Dakota.

Picard estimates that, within three years of its relocation, it will fully recover all prior lost profits.

(1) Explain, in detail, the theory (or theories) of social responsibility (including the various ethical theories) that best support Picard's decision to relocate to South Dakota.

(2) Explain, in detail, the theory (or theories) of social responsibility (including the various ethical theories) that best support Picard's decision not to relocate to South Dakota.

You may quote from the text or any other source so long as the quotations do not exceed 10% of your total response.

All quotations must be offset by quotations marks ("") followed by a complete citation of the source. For the textbook you can simply state: Text, followed by the page number (e.g., Text, P. 222). All other sources should include at least the name of the source and the web address where the source may be located.

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Answer The theory of Corporate Social Responsibility CSR highlights the obligations each company is unofficially assigned with in order to sustain itself in the industry and maintain the required cust... View the full answer