On Merck Corporation and Social Responsibility Essay

On Merck skunk and Social Responsibility - Essay Example slew today can notice that global responsibility is becoming more and more promoted. Everywhere, we see forms of boost on sensitivity to issues like environmental and ethical issues. In the past two decades, the business earth has also adapted this movement in the form of the corporate social responsibility aw arness. As Solomon (2004) says multitude can no longer accept the unethical idea that business is business. This belief Solomon adds, was no longer excus qualified and just a pretext to be socially irresponsible and personally insusceptible. With this concept, businesses be to function in a responsible manner and by that make an effort in putting the businesss stakeholders in consideration when company goals are dealt with. One such company is the Merck Corporation. In a time where businesses normally went for pro contain, Merck Corporation changed its direction to make a difference.It was in the late 1970s when que ryers of Merck Corporation front had an indication that Ivennectin (antiparasitic compound for animals) might devote the ability to cure the ailment called river blindness. River blindness was a disease that was predominant in third world countries like Africa and in some parts of Latin the States and the Middle East. Clearly, the profit of such medicine for river blindness was already questionable. Dr. Vagelos, who was then Merck executive head for the explore laboratories, was faced with the decision of approving further research that would cost a lot of capital. Nevertheless, further research was done because of its potential to cure and not on its potential to profit. A considerable amount of money was already spent in evolution the animal medicine ivermectin and developing another one fit for human consumption was premeditated to cost less than developing a new medicine. And so, Merck Corporation was able to produce a cure and named it Mectizan. When government agencies o f the third world countries were unable to purchase the medicine for their people, Merck Corporation headed by Dr. Vagelos, who was then CEO of Merck Company, agreed to give Mectizan to countries that badly conveyed it for free. Through the years, it has become to be known as the MECTIZAN Donation Program, a fusion of partnerships between private and public agencies to aid developing countries in their fight against river blindness. We see a commendable company that takes risks for the betterment of those who they know badly need it. As one of the top pharmaceuticals company in the world, Merck Corporation is expected to profit from the drugs produced in their laboratories and not to give them away for free. On a HolmesReport (2002) article, Dr. Vargelos was quoted in saying that many companies do not illuminate the benefits in better employee morale and favorable press coverage that comes from doing good deeds. It is a boost in the morale for people who work under a business that gives help for many people. Like Merck Company, who pick out always invested a lot of money in research, this move has no doubt fueled the minds of their researchers who are given freedom to explore possible cures to diseases that are known to have no cure. Especially since, those diseases that have no cures are dominant in poor countries. Every time the company is given an yield or praise, the pride and prestige also goes down to the company employees especially the researchers who developed the much demand medicine. For any worker, the drive to succeed and work properly is much more invigorated with the knowledge that you are working in a way to help others. A good image also assist in the problems of human resources because applicants are more than willing to apply for an admirable company in similitude to typical companies. A lot of younger generations today say that they would prefer to work because it is worthwhile and not just for the compensation. Many applicants mean a wider choice of candidates where the suited employee will be chosen from.not only does good morale and good image