The business industry is highly complicated, controversial, and fascinating at the same time. To run an organization effectively, there have to be rules and policies established. A compliance program, or CP, is a group of company policies integrated to fulfill all the laws and regulations that help maintain an organization’s reputation (Kenton, 2021, para. 1). Pharma 101 does not implement CP properly: it overcontrols its workers, leading to stress and reducing productivity.
Implementing compliance program practices in pharmaceutics businesses is a rational idea due to some ethical issues in the industry and a high level of responsibility. It is not only required by the law but also is fundamental in cases in solving any problem, including different types of investigation (Oberheiden, 2021, para. 4). Pharma 101 integrated CP into its work: penalties for neglecting and breaking the rules, conducting procedures to handle activities, and control by the authorities were implemented (Stacchezzini, Rassignoli and Corbella, 2020, p. 897). However, the company tends to overcontrol its employees, aims to give them minimum freedom at work, and restricts their decision-making rights. This led to the workers’ lack of desire to provide the best service and ignorance of some of the duties (Stacchezzini, Rassignoli and Corbella, 2020, p. 897). It is fundamental to let employees have control over their actions, allow them to make decisions, and give them a sense of control in their duties (Harvard University, 2022, para. 1). Thus, the company’s approach is devastating and will reduce the quality of the employees’ work.
Another mistake made by Pharma 101 was not making reports after each doctor’s meeting. Furthermore, any information about annual reports was not stated, and whether the company uses or neglects them is unknown. Fuller emphasizes the importance of such activity and how it helps analyze organizations’ success (2018, para. 4). The case study was conducted properly; no ethical issues or mistakes were detected. It examined the company’s policies, work, CP implementation, and how it affected the employees. Thus, one of the article’s findings was that CP constantly evolves, which is correct and has to be acknowledged. Dedicated artefacts, such as IT platforms, will help the implementation (Oberthaler, 2021, para. 8). However, some of the fundamental information is missing, and the negative effects of overcontrol were not stated; the findings may be agreed with to some extent.
The obtained results are not entirely transferable to other organizations. Organizing a business requires monitoring and controlling activities (McLaney and Atrill, 2020, p. 23). However, overcontrol, such as in Pharma 101, will decrease productivity and increase the risk of workers’ burnout, which will lead to deplorable consequences (Sanfilippo, 2021, para. 12). Although the results showed that CP evolves and people have to adjust to it, the pressure put on employees must be reduced. Furthermore, the workers do not have enough freedom which should not be transferred to other companies. For an organization to strive, people have to be provided with freedom, which will increase productivity (Uzialko, 2020, para. 5). Moreover, monitoring demands a high cost of resources, especially financial ones (Berk, DeMarzu and Harford, 2019, p. 1027). Understanding compliance program is foundational, as the survey showed and emphasized its importance, which may be transferred to other companies. Pharmacy 101 assisted its workers and provided help with new policies.
In conclusion, the case study is conducted properly; however, it lacks some of the essential information. The company’s approach to implementing CP is incorrect and will not result in successful results. The article’s findings may be agreed with to some extent. However, such approaches are not recommended for transferring to the other companies. Overcontroling and strict rules will lead to workers’ stress and reduction in productivity.
Reference List
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Fuller, J. (2018) What users of annual report want. Accounting and Business, ACCA. Web.
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McLaney E. & Atrill, P. (2020) Accounting and finance: an introduction, 10th Edition, Pearson London
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Sanfilippo, M. (2021) Stressed out! Unrealistic expectations put the pressure on workers. Business News. Web.
Stacchezzini, R., Rassignoli, F. R., Corbella, S. (2020) ‘Corporate governance in practice: the role of practitioners’ understanding in implementing compliance programs’ Accounting, Auditing & Accounting Journal, 33(4) pp. 887-911.
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Work design principle #1: give employees more control over their work. (2022) Harvard University. Web.