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Corporate Socail Respinsibility of Merck Pharmeceuticals - Research Paper Example

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Corporate Socail Respinsibility of Merck Pharmeceuticals

In a more modern and popular sense, CSR has become a public relations form as well as a marketing strategy that also pre-empts regulatory agencies (Mintzberg, 1983). However, there are many ways that firms or corporations apply CSR in their business system. One of the approaches is the community-based development where a firm establishes community presence and program in a fixed geographical area either in the area of their operation or outside of it. Some of the examples of community-based programs are efforts such as livelihood assistance for a supplier-manufacturing of clothes by a branded clothing, starting a literacy program through provision of books and learning aids, supervision, evaluation and recommendation for improvement in a certain school or area, waterways clean-up, and other efforts. A traditional approach has been philanthropy where corporations provide cash donations, products or tangible materials to a non-profit organization for its distribution to undeserved or deserving beneficiaries such as Children International and like NGOs. Other forms of CSR are embedded on the supply-chain system such as adoption of the Fair Trade system that ensures animals are not harmed, workers are paid and benefited in a justified manner, packaging is ecological, employees are properly compensated, delivery, distribution and post-consumption processes took environmental protection measures throughout the lifetime of a single or collective products (International Business Leaders Forum and International Finance Corporation, 2007). B)  Merck Pharmaceutical’s CSR Program.   ?       The kind of CSR the company is doing:  Merck claims to ensure that CSR is “an integral part of the way we do business… to create shared value and to help solve the tough issues facing business and society today,” (Merck, 2008, p 3). Their CR principles center on conducting business with high ethical standards; engage in expansion of access to quality care around globally; make positive and sustainable impact on the communities and societies they live and work in; and provide fair and just compensation to employees (Merck, 2008). This is reflected on their claimed CSR programs research on new medicines and vaccines needed, environmental footprint management, improved access to medicines and vaccines, ensure confidence in safety and quality, advocacy and outreach, and executing the basics which pertains to ethical business process standards (Merck, 2008). CSR has become a very complex process that is involved in various stages of the corporate system, so that a multinational corporation like Merck Pharmaceuticals may be involved in several CSR efforts at one time. The IBLF and IFC (2007) have defined various CSR efforts of which the following are addressed: protection and promotion of the rights of individuals as stakeholders of a company from employees, consumers, suppliers, distributors, to community members. On this manner, Merck has adopted several more popular CSR patient assistance programs in the United States for patients who cannot afford medications (Merck, 2006). This program has started in the 1950s and is active today. There are several CSR programs undertaken by Merck but this paper will focus on seven programs in practice as noted to be more practical to the public: Act Program for Emend, Act Program for Zolinza, Merck ...Show more

Summary

Research Paper Assignment BUS 244 – Business Law II Fall 2011 - M. Ley     Corporate Social Responsibility (CSR) of Merck Pharmaceuticals   A) CSR  Wood (1991) defined corporate social responsibility (CSR) as a corporate self-regulation and integral part of the business process in compliance with ethical standards…
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