Managing Business Ethics by unknow

Author:unknow
Language: eng
Format: epub
ISBN: 9781506388571
Publisher: Sage
Published: 2019-12-21T20:23:26+00:00

In the United States, no single office protects consumer rights; rather, this duty is distributed across numerous federal agencies. With respect to customer safety, the Consumer Product Safety Commission (CPSC) plays an important role. The CPSC is an independent federal agency set up under the Consumer Product Safety Act of 1972.27 It is responsible for “protecting the public from unreasonable risks of injury or death” associated with a wide array of consumer products.28 For example, the CPSC enforces laws that require refrigerators to be designed so that people cannot become trapped inside them, poisonous household products to be contained in child-resistant packaging, and many children’s products to come with warning labels.29 Another important product safety agency is the U.S. Food and Drug Administration (FDA), which is responsible for ensuring the safety of food products, pharmaceuticals, medical devices, and cosmetics.30

The second right identified by President Kennedy was the right to be informed. Customers have the right to the information they need to make an informed decision, and the information that companies provide them must be truthful so customers are not vulnerable to false and misleading claims about the products they buy. An example of a U.S. law that protects customers’ right to be informed is the Truth in Lending Act of 1968, which requires providers of consumer credit (e.g., credit card companies) to provide full and easy-to-understand information about the cost and terms of credit. Similarly, medical providers must obtain the informed consent of their patients, meaning that they must provide patients with all relevant information, judge that they are capable of understanding it, and obtain their acknowledgment that they are aware of and accept the possible consequences of the treatments they receive.31 Provisions such as informed consent agreements embody a deontological ethical perspective by protecting the dignity and autonomy of patients. Informed consent is an important part of the assumption of risk defense a seller of a product or service can invoke if damages take place. It is meant to assure that buyers are aware of the risks they confront and that they voluntarily agree to these risks.

Right to be informed

The right of consumers to complete and truthful information about products and services, including their foreseeable consequences, so that they may make informed choices about whether to use or consume them

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