Benefits Of Corporate Social Responsibility Essay

NAME: SUZANNE BRACCI CLASS: BMAL 560 SECTION: D05 FALL 2016 Critical Analysis Topic: Benefits of Corporate Social Responsibility in the Pharmaceutical Industry PRINCIPLE: ï‚ § Corporate Social Responsibility (CSR): a corporation should act in a way that enhances society and its inhabitants and be held accountable for any of its actions that affect people, their communities, and their environments (Lawrence and Weber, 2017, p. 48). ï‚ § The U.S. pharmaceutical industry is defined by the Census Bureau as companies engaged in researching, developing, manufacturing, and marketing drugs and biological for human or veterinary use (Pharmaceutical Industry Profile). ï‚ § CSR is rooted in putting the patient in the center and operating a pharmaceutical business that creates outstanding products (Takeda Website). PRACTICE: ï‚ § As corporate social responsibility (CSR) becomes increasingly critical to the sustainability of large pharmaceutical companies, the CSR function will become central to business strategy and will be led by a new breed of senior executives (Esteban, 2008, p. 77). ï‚ § CSR is still at an early stage in its development as a new business discipline. ï‚ § It will become increasingly common for the CSR function to be part of Access, as a central part of the Executive Committee’s corporate strategy group. ï‚ § Some argue for medication as a basic Human Right no matter their economic status or ability to afford necessary medications (Forman and Kohler, 2012). PARTICULARS: ï‚ § During theShow MoreRelatedThe Benefits of Corporate Social Responsibility (CSR)1277 Words   |  5 PagesCorporate social responsibility (CSR), which was first suggested in the late 1960s, is an idea to urge companies not only to focus on maximizing the profits of shareholders, but also the interests of other stakeholders like suppliers and employees (Wong, 2014). Issue about whether adopting CSR can enhance companies’ performance is still controversial. However, it is becoming more and more popular for companies to carry out different types of CSR measures since it is being widely believed that practicingRead MoreBenefits And Dangers Of Corporate Social Responsibility1952 Words   |  8 PagesWhat are the benefits and dangers of corporate social responsibility, for employees, management, organisations, society and the environment? 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Relation Between Inflation Rate and Unemployment - 1776 Words

Eurozone unemployment and inflation both rise 01 March 2012 by Daniel Mason Eurozone unemployment rose to a record high in January, while inflation in the currency bloc has also continued its upward trend - a combination described by economists as unpalatable and a double whammy of bad news. The jobless rate in the 17-member currency bloc was 10.7 per cent in January, up from 10.6 per cent in December, according to statistics published today by Eurostat. It means that, in January, there were 16.9 million people out of work in the eurozone. Meanwhile in the European Union as a whole, unemployment increased from 10 per cent in December to 10.1 per cent in January, leaving 24.3 million people without a job. Spain continued to†¦show more content†¦A rise in income will create increased purchasing power. Thus, the demand remains high as it reaches a point where the supply can no longer meet the demand, inflation occurs. However, at the same time, when unemployment is high, workers are unable to ask for better wages. This means that prices can fall, since businesses are not having to pay their employees better wages. Therefore, in many cases, when there is low unemployment, there is high inflation and vice versa. It has been observed that there was a stable and inverse relationship between rate of inflation and the rate of unemployment in an economy. In other words, a lower unemployment rate could be had by tolerating a higher rate of inflation. However, since the simultaneous occurrence of high inflation and high unemployment in the United States and other countries during the 1970s, there has been general agreement that this econometric relationship is unstable. 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Labor Market for Nurses in Florida Free Essays

Florida State is located in the South Eastern region of the United States.   Most of it is a peninsula bordered by the Gulf of Mexico on the west and Atlantic Ocean on the East.   Florida has the 4th highest state population in United State. We will write a custom essay sample on Labor Market for Nurses in Florida or any similar topic only for you Order Now As at 2006, the population was over 18 million.   Economically by 2005, the gross state product was over 500 billion dollars. Florida’s labor market is determined by employment and wages, labor force, economic indicators and the population structure.   In 2004, Florida approved a constitutional amendment to increase the minimum wage to over 6 dollars per hour.   All employees were then supposed to comply with the wages increase (www.stateoflorida.com/portal/) In labor market, employees and workers respond in exactly opposite ways to higher wages.   More people want to work when wages go up but employers then hire fewer workers. However, if labor markets operated normally, the level of employment and subsequent wage would be determined by the law of supply and demand.   The number of workers on a given job and the wage paid to them should reflect an agreement between the needs of both parties.   Employers would like to hire more workers at a lower wage but not enough workers are willing to accept employment for lower pay (Lovell, 2006). Wages are determined in a market economy by among many factors, tradeoffs and government’s improvement of market outcomes.   The government can improve the outcome of the economic system and stimulate the development of a society. Tradeoffs involve sacrifices made in obtaining certain products or services rather than others using the same required resources. These factors influence the nursing wages in Florida. Nursing wages are determined mostly by the skills needed at work, place of employment and the mount of time spent at work.   Enhanced educational credentials also determine the amount of premium that a nurse is paid.   Therefore nurses are paid according to the level of academics and their job contribution. Among many determinants of wage calculation, include productivity of the worker, output per hours worked, employer’s willingness to work, cost of living, experience and many others. These factors determine wages of nurses in Florida (http://www.floridanurse.org/foundationgrants/index.asp) There are various factors that influence the supply and demand of nurses in Florida.   The rapid aging of both the population and the nursing workforce results in the need for supply of nurses to maintain pace with the growing demand. There has been a decrease in supply of nurses due to poor working environment, closure of nursing schools, nursing faculty shortages and other career opportunities. All these have decreased the supply of nurses.   Licensing data indicate that over 40% of active licensed Florida nurses are over 50 years of age and 15% are over 60 years. (http://www.dob.state.fl.us/). These factors have led to an increased demand in the supply of nurses In Florida, various factors play a critical role in determining the salary that a nurse is to be paid.   These include the academic level, time spent at job, the locale, and experience. There are different types of nurses; school nurses, occupational health nurses, Geriatric nurses who work and care for the elderly and also those with masters and doctoral degrees.   All these have a different structure of salary. However, generally the average starting salary for a new nurse in Florida ranges from about 15 dollars an hour or around 31,000 dollars a year.   However, the salaries increase tremendously with experience.   The salary of an advanced registered nurse practitioner (ARNP) range from 45,000 dollars to over 90,000 dollars annually. (http://www.floridanurse.org/foundatrionGrnats/index.asp) Utah State also faces a shortage of nurses.   The situation is a more severe and critical shortage.   Utah has ageing nursing professionals with an average registered nurses being 47 years.   However, Utah can employ various techniques to increase the supply of nurses. They can increase the number of nursing faculty in the various nursing schools.   Young men and women interested in developing a career in nursing can get an opportunity to train in the arena.   The nursing schools can be increased to accommodate more students and also be able to offer refresher courses to learners. Learners can also be given loans, scholarships and grants to undertake nursing education programs. This will increase the supply of nurses tremendously.   (http://www.utahnurses.org/portal/default.) REFERENCE Florida Nurses Association article- Retrieved on 23rd Jan 2008 from; http://www.floridanurse.org/foundationgrants/index.asp Lovell, v. (2006). Solving the nursing shortage through higher wages. Institute for women’s policy research: Washington DC, USA. Utah Nurses Association article- Retrieved on 23rd Jan 2008 from; http://www.utahnurses.org/portal/default. How to cite Labor Market for Nurses in Florida, Essay examples