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CORPORATE SOCIAL RESPONSIBILITY - Essay Example

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In fact, the company simply has no other way but to demonstrate social responsibility in its readiness to sacrifice profits and save millions of human life. In…
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If you were the senior executive of Merck, what would you do? In the situation of incurable disease and based, senior executive of Merck should decide to invest into the new drug. In fact, the company simply has no other way but to demonstrate social responsibility in its readiness to sacrifice profits and save millions of human life. In this context, the argument in support of this act is two-fold. On the one hand, such a courageous decision demonstrates corporate social responsibility for the business environment. In a short-term perspective, this decision may seem to make no rational sense. Notwithstanding, the strategic outcome has an impressive potential to turn Merck into the leading pharmaceutical company because of this one successful investment. Moreover, the ethical obligation of Merck “never to forget that medicine is for people” will have a perfect illustration for society with no comments needed. On another hand, an attempt to save millions of people is surely a humble act that society will not ignore. For instance, there is an opportunity to attract socially responsible investors and reduce the amount of company’s money at risk. In addition, even the failure of this attempt will not surely mean the end of Merck, as its reputation will be on its peak. Hence, the question goes beyond company’s philanthropy and includes ethical obligations for the society. Therefore, the decision concerning the investment must be surely positive, as this is a perfect chance to test whether Merck is sincere in its mission articulated for the society and its own scientists. Read More
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