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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