Corporate Social Responsibility Essay Example | Topics and Well Written Essays - 750 words - 1

Corporate Social Responsibility - Essay Example George. W. Merck a formal chairman of the company always tried to project his founding father’s mission that the corporation will always â€Å"work for the people and not for profits†. On this regard it can be said, that the company is more deliberate to act with high social responsibility rather than just focusing on profitability or revenues (Trevino & Nelson, 2010). Organization Values of Merck & Corporation In respect of Merck’s company’s mission and vision which is to serve public at all means, profit is not the first priority as the organization is with deeper social grounds at the time of service or operation. As company’s vision is set on high moral grounds, it becomes mandatory for the system of the company to follow the similar track in which social responsibility is on highest node of consideration. In such ethical frame of work, the decision of developing a drug which is specifically for small population is hard to make, as it has to imi tate company’s vision and fit in the interest of internal and external stakeholders (Trevino & Nelson, 2010). It was the period of 1970s when the case of â€Å"River blindness† came on the front to Merck & Corporation. ... ion like Merck’s & Corporation, whose idea is to serve mankind and provide people with effective remedies on such chronic diseases (Trevino & Nelson, 2010). Stakeholder Impact and Interest Merck & Corporation is one of the largest medication providers in the world. It is having a thorough background in serving people genuinely with high effective cures and remedies. The case of river blindness required an ethical decision in which Merck & Corporation was being expected to make a decision in favor of the affected population (Trevino & Nelson, 2010). The case brought attention of stakeholders who were actively part of the organization at that time. Scientists were internal stakeholders who projected their deep interest in researching for the case. This was all in the context of company’s mission and vision, which is to serve public who is facing influence of such chronic disease â€Å"River blindness† (Trevino & Nelson, 2010). Risk in Development of the Drug In the case of River-blindness disease, Merck & Corporation was carrying high amount of risk especially if the company owners look at the profitability aspect (Trevino & Nelson, 2010). If the company goes with its research, it would require high investments plus a lot of time to get with a probable solution. The profit generation is on the lesser side even the investments are hard to recover on the drug as the affected people requiring the drug are located in poor regions, who cannot afford such high profitability ratios for the company (Trevino & Nelson, 2010). The Final Decision In respect of the following risk factors, it is hard to make a decision that whether a company should go or not for developing the drug. If a company decides to proceed with the drug development, it could compromise the principles of