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The world has changed dramatically. The trust in business has already been deadened both by corporate slander and the downfall of the several businesses earlier in the 2000 era. The current financial situation has increased levels of public disgust of large multinational firms to all-time highs. Additionally, the call for a bigger government in overseeing businesses and addressing public needs has amplified dramatically. Finally, environmental and public issues such as global warming and access to health care, once the confined of tiny groups of stakeholders, are now widely visible public policy issues. These switches in attitudes are rapidly changing futures for business. Governments around the world are asking that businesses increase transparency and adopt a more sustainable healthier outlook on creating value. Some countries have even passed legislation favoring, and in some cases requiring, business to report on their environmental and social performance. Increasingly investors are adding characteristics of corporate responsibility performance as signals of strong corporate self regulation, risk management or overall management quality. A recent consumer surveys show that the demand for socially responsible firms continues to intensify. See figure 1 for the results of the survey.
This survey by (Rix, Fred) shows us that people are in favor of some kind of social responsibility program, and people feel that firms like Super Meds should donate money to nonprofit organizations. This action would have the biggest public relations impact. On the flip side paying high dividends to stockholders is associated with corporate socially responsible behavior.
Super Meds, therefore, should agreed on and purse significant changes within its company to fully utilize a corporate social responsibility policy. The company has, to its credit, reorganized over the years to take benefits of its scale and size while committing to operate with the dexterity, speed and focus of an entrepreneurial organization. Super Meds has looked into several strategies, including an increased focus on new markets and creating new opportunities for its accustomed medical products. But now Super Meds leadership team should endorse the addition of a new corporate social responsibility program or policy to its business strategy. For example they should integrate to better line humanitarian programs with business initiatives and business priorities. Super Meds should recognize that is not what they do that matters but also how they do it that will define whether corporate social responsibility is a success for their company. What follows below are some suggestions what a corporate social responsibility program will look like with different areas of a company.
Marketing and Sales
Super Meds is committed to responsibly promoting its products. They believe that it is important to inform clients and providers about cutting-edge health care treatments. Super Meds also accommodates stakeholders' concerns that marketing practices and sales need to provide correct information, and that doctors who prescribe Super Meds' products should not be swayed by anything other than the merits and morals of the medicine being marketed. Super Meds follows a path to sales and marketing that starts with trust in its business practices, transparency in its documenting about these practices, and compassion for those who find it tough to afford their medicines.
Super Meds creature care policy reflects their full commitment that creatures used in studies are treated sympathetically. This means that any studies involving creatures is conducted only after admissible ethical consideration. This review ensures that they provide a high level of attention to experimental creatures, and that there is no scientifically appropriate option to the use of creatures that is coincides to regulators. For as long as it remains essential to use creatures in biomedical research for the discovery, development of new medicines, Super Meds is committed to maintaining the highest standards in the benevolent treatment of these creatures.
While the urgency of issues such as access to medicines has typically predominated in the health care sector, responsible environmental, and health and safety practices have increasingly sparked the interest of stakeholders. Super Meds recognizes that expanding and advancing products and maintaining safety extends through the innovation, breakthrough, and distribution processes of medical supplies and medicine, to preserving natural resources and creating a healthy environment.
Super Meds recognizes that climate changes, and its potential impact on global health, is one of the most serious environmental challenges facing society today. Super Meds is committed to seizing opportunities throughout their business to lessen its impact and have set ambitious goals to drive their activities.
Super Meds has made substantial efforts to reduce their carbon and energy footprint through global conservation and energy efficiency efforts, and consolidation of certain operations. A wide range of projects, such as equipment retrofits, combined heat and power systems, and renewable energy installations contributed to significant emissions avoidance. Super Meds also has a public goal to obtain 30 percent of their electricity from clean energy sources by 2012, an aggressive goal in this changing economic landscape. Although they have made excellent progress, their clean energy goal has been challenging to attain. The current shortfall is due to a number of factors including closure of some plants with cogeneration capacity and the financial viability of current clean energy technologies. Although Super Meds will not fully achieve its goal to have 30 percent of their electricity usage come from clean energy sources by 2012, they remain committed to the implementation of clean energy technologies where it makes sound environmental and business sense.
Super Meds' colleagues worldwide remain their most valuable asset and the foundation of its success. Their mission is to provide a healthy and safe work environment for every Super meds' employee. They have using a company-wide set of rules, standards and programs, combined with site-level management systems and initiatives accommodated to the particular safety issues and needs at each location and operational function.
This shows that Super Meds has internal factors that have to relate to products, people and environmental issues. The external factors are customers, communities, shareholders, employees, and government.
Super Meds is committed to:
â€¢ Significantly improving health and safety performance internally and externally
â€¢ Maintaining effective management of basically high-risk operations
â€¢ Ensuring the health and wellness of colleagues through careful management of work- place exposure
Against Corporate Social Responsibility
"But the idea that companies have a responsibility to act in the public interest and will profit from doing so is fundamentally flawed" according to (Karnani). The opposing idea asserts that companies simply do whatever they can to increase profits and this action alone will end up increasing social welfare. This position implies that when companies do the right thing of passing up profit everyone will benefit. Competition makes all this happen, if one company does the right thing and people switch to that product then others will follow and there will be a higher standard without a government mandate. This all sounds wonderful but as history has shown us, companies are trying to find ways to make a quick buck. If companies are not stopped from doing wrong things like hurt the environment and or using unsafe practices because it is cheap, corporate social responsibility and or a government mandate needs to be adopted to make sure that companies are doing as little harm as possible to the globe as a whole.
Although about two-thirds of organizations across the United States and Australia, had formal or informal corporate social responsibility policies, a larger proportion-more than four out of five organizations- participated in corporate social responsibility practices. While cost figured most prominently as an obstacle to corporate social responsibility programs, the majority of organizations across the two countries included in the study did not measure the return on investment for their programs. This indicates that organizations across countries and employment sectors see value in corporate social responsibility initiatives.
Given the enormous potential benefits that their drug portfolio brings to patients and their caregivers, Super Meds is focusing on remaining a top tier health care company and a recognized leader in the development of innovative drugs and treatments for disease. The recent scientific advances that have been made in biologics therapies, stem cells, and new disease models, have tremendous potential, even against feared conditions such as paralysis. However, the cost of research and development to get a new drug approved and into the hands of doctors now exceeds $1 billion, with only one in 10 drugs in clinical trials gaining regulatory clearance. Other issues also remain with the clinical trial process, including the increasing number of trials required in developing countries. It is clear that today's regulatory and economic challenges need to be addressed in ways that preserve their ability to innovate for the benefit of millions of patients who depend upon us to live healthier lives. This will require a working partnership involving the industry, government regulators, academia, physicians, pharmacists, patient advocate groups and drug benefit payers. Super Meds is collaborating with all of these parties in order to achieve a common goal of providing safe, effective, high value therapies to patients in need. It will truly take a global effort and the contributions of everyone to successfully address these challenges.
The future brings many opportunities and challenges for patients, stakeholders and for Super Meds. They will meet the demands that will come with the aim of fulfilling the role promised by its size and expertise to support its Shareholders. Super Meds does not have all the answers, but they pledge to actively engage and listen to their customers and stakeholders as it grow and develop as a company.
Based on the findings of acquired research Super Meds has formulated the following conclusions.
Most consumers want companies to have a corporate social responsibility program or policy.
Other businesses like to do business with others who have a similar believe structure.
Employees like to work for corporations that have a corporate social responsibility program so their morals are similar to the business that they work for.
Supported by the findings and conclusions of this study, the following recommendations are offered in an effort to improve the operations and success of the Super Meds corporate social responsibility plan.
1. Super Meds should adopt or create a corporate social responsibility policy or plan. To make stakeholders aware that Super Meds is helping the globe.
Work Citied Page
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Corporate Social Responsibility as a Conflict Between Shareholders. By: Barnea, Amir; Rubin, Amir. Journal of Business Ethics, Nov2010, 97. 1, 71-86, 16; DOI: 10.1007/s10551-010-0496-z
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THE CASE AGAINST Corporate Social Responsibility. By: Karnani, Aneel. Wall Street Journal - Eastern Edition, 8/23/2010, 256. 45, R1-R4, 2
The Role Business Schools Play in Promoting Corporate Social Responsibility. By: Vallario, Cynthia Waller. Financial Executive, Jul/Aug2010, 26. 6, 52-55, 4, 2 Color Photographs