An Investigation of Corporate Ethics and Business Success in Nigeria’s Pharmaceutical Industry: A Case Study of Fidson Healthcare in Sokoto State
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Background of the Study
Corporate ethics play a critical role in shaping the success and sustainability of businesses, particularly in sensitive industries such as pharmaceuticals. In Nigeria, the pharmaceutical sector faces ethical dilemmas ranging from counterfeit drug production to unethical marketing practices (Onuoha et al., 2023). These challenges not only harm public health but also erode consumer trust and hinder industry growth.
Fidson Healthcare, a leading pharmaceutical company in Nigeria, has been at the forefront of promoting ethical practices in Sokoto State. However, the company operates in an environment characterized by weak regulatory frameworks and widespread corruption, which pose significant challenges to maintaining ethical standards (Adebayo & Olu, 2024). Studies indicate that corporate ethics are strongly correlated with business success, as they influence consumer perceptions, employee morale, and overall organizational reputation (Ikenna & Chukwu, 2025).
This study explores the intersection between corporate ethics and business success in Nigeria’s pharmaceutical industry, using Fidson Healthcare as a case study. It aims to provide evidence-based recommendations for fostering ethical practices and enhancing business performance in a competitive and dynamic environment.
Statement of the Problem
The Nigerian pharmaceutical industry is plagued by ethical issues, including the sale of substandard drugs, bribery, and conflicts of interest in regulatory compliance. These unethical practices have significant implications for public health and industry credibility (Eze & Mohammed, 2023). Fidson Healthcare, despite its commitment to ethical practices, faces challenges in navigating these systemic issues, particularly in Sokoto State.
Ethical lapses not only compromise consumer trust but also result in financial losses, reputational damage, and legal repercussions. Previous studies have highlighted the lack of enforcement of ethical standards and the absence of a robust framework for monitoring compliance (Afolayan et al., 2024). As such, there is an urgent need to investigate the role of corporate ethics in driving business success and propose strategies for improvement.
Objectives of the Study
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To evaluate the ethical practices of Fidson Healthcare in Sokoto State.
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To examine the relationship between corporate ethics and business success in the pharmaceutical industry.
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To identify challenges to ethical compliance and suggest actionable solutions.
Research Questions
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What are the ethical practices of Fidson Healthcare in Sokoto State?
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How does corporate ethics influence business success in the pharmaceutical industry?
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What challenges hinder ethical compliance, and what strategies can address them?
Research Hypotheses
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There is no significant relationship between corporate ethics and consumer trust in Fidson Healthcare.
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Corporate ethics have no significant impact on business success in the pharmaceutical industry.
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The challenges to ethical compliance cannot be effectively mitigated by existing strategies.
Scope and Limitations of the Study
The study focuses on the ethical practices of Fidson Healthcare in Sokoto State and their impact on business success. While the findings may offer insights into the broader pharmaceutical industry, the study is limited by its single-case approach and potential difficulties in accessing proprietary data.
Definitions of Terms
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Corporate Ethics: Moral principles and values guiding the conduct of a business and its employees.
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Business Success: The achievement of organizational goals, including profitability, market share, and reputation.
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Pharmaceutical Industry: The sector involved in the development, production, and distribution of medications.
