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Corporate Socail Respinsibility of Merck Pharmeceuticals - Research Paper Example
Pages 8 (2008 words)
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…
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. ...
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