Shkreli

Definition

In the context of business ethics, "Shkreli" refers to actions characterized by prioritizing profit over social responsibility and ethical considerations, often leading to public backlash. This term is derived from Martin Shkreli, a pharmaceutical executive notorious for drastically raising the price of a life-saving drug.

Related terms

Corporate Social Responsibility (CSR): A business model that helps a company be socially accountable—to itself, its stakeholders, and the public.

Business Ethics:

The study of appropriate business policies and practices regarding potentially controversial subjects including corporate governance, insider trading, bribery, discrimination, corporate social responsibility, and fiduciary responsibilities.

Stakeholder Theory:

A theory that management should consider the interests of all stakeholders in its decisions beyond just shareholders; includes customers, employees, suppliers, community members, and others affected by the company's actions