Moral management Characterized in Theranos. Social Sciences Essay

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Moral management Characterized in Theranos
The 2019 film “The Inventor: Out for Blood in the Silicon Valley” directed by Alex Gibney focuses on the founder and CEO of Theranos, Elizabeth Holmes. The name Theranos sounds like a mythical creature, and at the end of the film, that is what the company was. The story is based on deception since Theranos takes advantage of people’s fears regarding the need to draw blood in large amounts, especially when numerous blood tests are needed at a single instance. Holmes came up with an idea of a portable machine which can perform 200 deferent kinds of blood test quickly. Holmes started her company at a young age, and within a matter of years, it had employed over 700 people and was valued at over $9 billion. However, the reality of the machines is that they do not work as promised. Holmes relies on an immoral management approach since what she does is oblivious to any ethical considerations and opposes anything moral.
Holmes, as the company CEO, ignored any moral considerations in her work and management approach. She is selfish and is only focused on the company’s profits rather than what the product does. For instance, the machine was not working as expected. When she managed to get a client that was a large pharmaceutical company, she duped them and tested the blood samples secretly and then told them that the machine worked as expected. Her employees had also noticed her unethical behavior and actions. Her goal was to gain organizational success and profitability, and most employees were not happy that the company was using illegal and unethical approaches. Holmes often fired such employees before they could report what was happening, and her immoral behavior only becomes worse since she had control over everyone working for her.
Holmes managed to have ultimate control over the company, and this allowed her to exploit different opportunities that arose as a business strategy. This led to a corporate governance breakdown since Theranos relied on a dual-class shareholding approach. This means that the she has 100 votes for every single vote from other shareholders, and she also had authority over the composition of the firms’ board (Boni and Sammut 222). Besides that, everything that the employees did was monitored, and her company remained very secretive with the techniques used. Employees were required to be available whenever needed every day, and she also reviewed security logs to check attendance. Holmes started a company that had very loyal employees to ensure that she would continue duping her customers. She demanded secrecy among all employees despite the implications the blood tests would ha...