Positive Impacts of Pfizer Incorporated on Society - Essay Example

Pfizer Incorporated and the Society Creation of business establishments in a locality affects the communities or the society to various levels, in both beneficial and harmful terms. It is estimated that at least all business establishments in a particular location will have their impact trickling down to the society, in a varied perspective. Over the ages, the manner in which the companies relate with the society has been the main determinant of their success towards achievement of their long term objectives. Integration of the society needs into the companies’ policy frameworks has evolved as an important managerial requirement area that assists in the realization of coexistence aspect developed with time. This study reflects on the positive and negative impact that Pfizer Inc. has made to the society in which their business establishments have dealt with, either directly or indirectly. Positive Impacts of Pfizer Inc. on Society Through the establishment of company production units in the many countries of their market penetration, Pfizer Inc. has directly contributed to the welfare of the general population by way of offering employment. Local manpower is the easiest and readily available option to meet the workforce demands by the company. Provision of employment opportunities to thousands of people across the world has not only raised the living standards in the society but has also been a contributor to government revenue in form of income tax. People employed by the company can have their basic human rights met as well as those of their children since they are capable of providing school fees to their young ones (Werther Chandler, 2006, p27). Payment of corporate tax to the resident hosting countries is a major source of income for many governments. These taxes constitute a very useful source of income for many governments. Through the taxes, governments can raise money for servicing national debts, fund development projects as well as supply of important services to the country’s citizenry. Through government investor incentive strategy that aims at attracting more business and opening up the country for development, the local communities benefit from the services rendered by the government in support of this. Such strategies include commitment to provide adequate security in the country to facilitate the operations of the companies. In Werther Chandler (2006, p82) other services include transport network improvement and maintenance and energy supply whose delivery in support of investment attraction also benefits the residents as cited by. Most importantly, the manner in which the company tries to make life of the citizens in those countries where they have subsidiary branches is in the interest of the society at large. This is because the best party to handle an issue in the hands of public interest is the main role players, strategically positioned like Pfizer is in the world of pharmaceutical products. This is evident in the involvement of the company in the health welfare projects in the communities which targets patients with complications such as diabetes, cardiovascular problems, and obesity. In line with this, the company has developed the Health Awareness Programme which is aimed at providing help to patients through campaigns that increase responsibility in management of the diseases (Shcreck, 2009, p126). Availability of pharmaceutical goods to the residents is added advantage over those people who have to struggle to obtain the goods, almost always at an added cost to cater for shipping and freight services. According to Banerjee (2007, p63), besides the availability of goonds, supply is efficiently enabled to the local market and at a considerably favourable cost. Pfizer Inc., being a multinational corporate body has established a finely designed framework that caters for community welfare and public image issues roughly all over the world in its subsidiary establishments. In the latest year (2009) corporate responsibility report prepared by the company, it was pointed out that the company had a deeper meaning attached to its corporate responsibility plan that goes beyond their business interests. The basic human right of medical care forms an integral reason for undertaking the systematic plan adopted to ensure that the company formulates health and wellness campaigns outside their ordinary practice of business (Grubler, 2003, p102). Health improvements in the general population have been a non profit business agenda for the company, in conjunction with partners, in ensuring steady expansion in biomedical field. As a major stake holder in the world environmental agenda like other corporate entities are, Pfizer Inc. has embarked on an environmental health and safety policy which aims at using the global influence it has to campaign for reduction of green house gases emission. Internal policy set by the company has a target of reduction of greenhouse gases emission of 20%. This target is on an absolute basis that stretches from the year 2008 to the year 2012. The multiplier effect of this resolution by the company trickles back to the society which may not have an elaborate organization to initiate such interests (Swallow, 2009 p194). This is a direct benefit for the locals who would be otherwise if the company existence was not a factor. Airing public policy support to health plans that benefit the population has been a real contribution in the health sector. Submission of useful insights for legislation that benefits the general population is the other benefit that goes directly to the society at large. By taking the fore front in enhancement of health reform in the policy debates of a country is a very important idea worth of mention to the credit of the company. By establishing serious research projects for the development of better health products and drugs might appear like a business obligation, but a thorough impact analysis from a health angle would say a different thing altogether. It is highlighted in Shcreck (2009, p125), that reduction of suffering through disease resolution and management is a humane effort that goes without proper credit to pharmaceutical companies. Even though results might not always solve the problems at hand once and for all, it is apparent that research projects are worth to the betterment of life. This goes in line with the improvement of life and upholding of human rights and dignity, experienced by communities served by the company. Involving research funds in neglected diseases is a strength area Pfizer embarks on for the common good of the society. The company has developed some regulations aimed at improving the customers’ safety by standardizing drug counterfeit detection. The society can feel safe by the manner in which their health issues are taken care of in attempts to identify and disrupt counterfeit products manufacturers. Negative Impacts of Pfizer Incorporated on Society Every industrial activity has its impact assessment allowance for disadvantageous results, however beneficial it might appear on the face of the project. To begin with, the general negatives of the creation of companies have it that some effects on environmental degradation have to be felt. In order for any of the companies constructed for purposes of business by Pfizer Inc., clearance of land to pave way for the same is deemed a necessary evil. It is an evil by the virtue of land clearance leads to serious harmful environmental effects, at least in the long run. While it is a common practice even for creation of human shelter, it is detrimental in whichever interest it is performed. Release of industrial waste whether in liquid, solid or gaseous form is detrimental to the environment. Eventually, impact will be felt if the necessary measures are not taken by industries to mitigate the effects of industrial pollution. The society cannot have complete reparations for the slightest pollution sustained, since they hold the custodian role of the environment. Clear statement and publications about the manner in which companies hold and dispose of their toxic industrial waste lacks the world over. In line with the work by Mullerat & Breeman, (2005, p89), interests of the society in having a safe environment to live in are put at a huge risk, especially by chemical industries like the one Pfizer runs. The law does not have provisions compelling such industries to disclose the manner in which they handle their pollutant wastes. Noise pollution may be a thing of the past by embracing trends in recent technological advancements. However, industries have for a very long time subjected the society to all manners of noise pollution ranging from motor vehicle noise to machinery pollution. Also, privacy appears to be lost when all the machinery and equipment moves closer to residential areas. Life gets harder as necessary adaptations are done to accommodate the industries. Examination: Pfizer Inc Positive Impact on Stakeholders For positive cases about the company, for instance in the U.K, events are conducted in various regions with an aim of improving customer relationships and those of the entire community. The interactions enable the company to perform some community service and at the same time relate closely with their customers, enabling establishment of an understanding (Shcreck, 2009 p126). Serious health issues are tackled and notes compared on where the company is in terms of meeting customers’ demands and needs. Ethical assurances created by such events go long way in creating a friendly environment. As noted by Banerjee (2007, p71), continued improvement in business and hence profit margins has been beneficial in the maintaining of the company’s investors confidence. Implications of Company’s Actions on Stakeholders Shcreck, (2009, p125) observes that good performance in the market in terms of operations and customer loyalty as well as an efficient corporate responsibility translates directly to sustaining of the whole objective achievement. Failure of the policy implementation by the company’s staff would be tantamount to the winding up of the company. This would mean that all the positives gained by the society as well as business stakeholders would be unachieved. Conclusions The company being a multinational company has been in a position that enables it to perform its obligations like expected. There are several instances of strong outcomes in terms of corporate responsibility that satisfies the needs of the society. These are clearly brought out in the corporate responsibility reports prepared by the company. Work Cited Banerjee Subhabrata Bobby. Corporate Social Responsibility: the Good, the Bad and the Ugly. Cheltenham, Edward Elgar Publishing Ltd., 2007. Grubler Arnulf. Technology and Global Change. Cambridge, Cambridge University Press, 2003. Mullerat Ramon and Breennan Daniel. Corporate Social Responsibility: the Corporate Governance of the 21st Century. The Hague, Aspen Publeshers, 2005. Shcreck Philipp.“The Business case for Corporate Social Responsibility”, Contributions to Management Science, 13.1(2009):124-128. Swallow Lisa. Green Business Practices for Dummies. Hoboken, Wiley Publishing Inc., 2009. Werther B. William and Chandler David. Strategic Corporate Social Responsibility. London Sage Publications Ltd., 2006. Read More