Astrazeneca and Csr Essay

Because corporations are established to profit and shareholders invest money with expectations of a greater return, managers cannot be given a directive to be “socially responsible” without providing specific criteria of checks and balances to which needs to adhere. Therefore, it is imperative to the success of a corporation for managers to not act solely but rather to act within the policies of the shareholders.

or so many years our society has been thinking of forming new creative and innovative businesses, which would be more environmental and customer friendly. Nowadays a large number of different companies follow the social, ethical, as well as moral consequences when it comes to their decision making. One of the relatively new concepts involving economic and social concerns is Corporate Social Responsibility. Many of us apply this approach not only at work, but also in everyday life without even recognizing.

Pfizer is the largest American pharmaceutical company and one of the largest pharmaceutical companies in the world. It competes with Merck and Glaxo, and markets such well-known medications as Celebrex and Viagra. However, the pharmaceutical industry as a whole has undergone changes in recent years with significant consolidation taking place and with increased scrutiny regarding the ways in which drugs are developed, tested and marketed. In addition, recent controversies have erupted regarding Merck's drug Vioxx, and Pfizer has been the target of unwanted publicity regarding its painkiller Celebrex. This research considers the strategic position of Pfizer, including its strengths and weaknesses as well

Setting up the ‘Heal the World’ Foundation which aims at providing medicine for children and fighting world hunger, drug and alcohol abuse, and child abuse

The other purpose is carrying out awareness campaigns to establish a solid partnership with active community corporations. This goal has several underlying causes; the main one is the large number of children who are deprived of the simplest form of therapy they are so deserving of, because it is too expensive. Therefore through the relations with these corporations I will attempt to start a fundraiser to cover the needed expenses for the above mentioned category on an annual basis.

Now, they are expanding into the culture and that principle, as well as the success they create, to helping improve the communities in which they as well as their clients live and work. That means accepting responsibility to help address some of the most pressing problems facing those communities, and providing opportunities for those who work with us to do the same. Starting in 2016, Advisors Excel has made a commitment to deploying a group of approximately 50 employees one afternoon a week to help in the community. Whether it’s helping at the local food bank, volunteering at the Boys and Girls Club, assisting with neighborhood cleanup efforts and helping organize and staff, community events, Advisors Excel will donate roughly 5,000 hours of volunteer time to its home community every year. They believe in making an impact — for their clients and those they serve, and for our communities. In 2015, Advisors Excel committed $500,000 to Feeding America®, the nation’s largest

Interestingly enough, there were some influences in the external environment that would affect the relationship with Astra. Much like other industries in 1990s and early 2000s, the pharmaceutical industry responded to the challenges of globalization and smaller companies merged to form large conglomerates to create worldwide strength. (Kyriazis and Swayne) Astra merged with Zeneca, increasing the international exposure of the new merger as the seventh largest pharmaceutical company in the world. In such a situation, AstraZeneca had Colazide low on their list of priorities and attempted to return the licensing to Salix. This would require some adjustments and avoidance of legal implications on the part of AstraZeneca, which led to their payment of Salix’s full contract and lending for acquisition of another partner.

CVS, a national pharmacy chain, works not only in but also with the community. The company focuses on the betterment of society. Its extensive Corporate Social Responsibility strategy, entitled Prescription for a Better World, places CVS at the center at a variety of mainstream issues. The three focal points of its CSR plan are the environment, the economic opportunities for citizens, and the health of the community (Novick O’Keefe 2014). CVS has a whole department focused on CSR, called CVS Caremark, which houses the CVS Caremark Charitable Trust. Their many projects include the end of Tobacco distribution, the betterment of school and local health care, sustainability, and charitable events.

Petrenko. A. Corporate social responsibility [Power Point Slides]. Retrieved from Lecture Notes Online Web site: https://moodle.yorku.ca/moodle/course/view.php?id=39261

Another problem involves the increased time required to identify a given issue, as well as the best practice to formulate and pass a given message. Finally, the hospital faces negative perception by the local patients, which is generated from individual beliefs and perceptions. To curb these challenges, the SickKids Hospital has developed a suitable financial base such as appropriate shareholder and investor inclusion to raise funds for their physicians, communication platforms, and education to alter the perception of the local individuals (Wong, 2012). Together with the inclusion of varying investors, the hospital has broadened its services to include indulgence in charity work. This enables the hospital to develop suitable corporate social responsibility strategies that boosts its finances. In additional, the charity work enables the hospitals to develop a suitable consumer environment that links its operations to its performance and productivity objectives. Donations and Christmas gifts have also contributed largely to funding the SickKids Hospital. Corporate programs within the hospital have been developed to ensure that donations and gifts are accepted at a specified time with suitable compensation for individuals who offer the

Johnson & Johnson (J&J) is a multinational company founded in the the United states in 1886. The company’s create most of their revenue by selling medical devices, pharmaceutical products and consumer packaged goods. Johnson & Johnson’s value in the stock market is listed among the top pharmaceutical companies. The company owns varieties of different extensions to supply the demand of human health product. The company has dedicated their time to help people live longer healthier lives with their research development teams. Even though no all the actions authorized on the C-suite have kept the company apart from decreasing profits. Johnson & Johnson had ups and downs on the past, some mistakes had cause several threats to individuals. But the company has work hard to balance their corporate social responsibility. Johnson & Johnson executives are aware of the ethical issue the company faces daily so by taking severe and more smart decision they plan to boost the company 's profits. Consumers acquire confidence and feel more comfortable when social responsibility forms part of the future plans of the company. Important part of Johnson and Johnson strategic plan to keep being profitable in their upcoming quarters.

In the maximization of its impact in the community, McKesson has aligned its signature volunteer programs with the funding area of Company’s foundation. Both of the programs’ main focus is cancer management, specifically giving non-medical direct services to needy cancer patients. The area is of great need, and it is linked closely to the core competencies of the Organization as a healthcare company (McKesson, n.d.). The McKesson Company has community days, which is the symbol of yearly all-employee volunteering event. In the community days, the workers take part in coordinated groups; volunteer their objects at the Company’s website being led by the volunteer

The company spent $179 million on R&D in 2017 alone (Research & Development, n.d.). With this budget, they are able to identify shifts in customers preferences, improve upon existing products and to deliver the new superior products they are known for.

Achieve a median composite eight-year product development cycle by 2010. Deliver two new molecular entity (NME) launches on average per year from 2010. In order to achieve the above objective, ensure that we have 10 or more NMEs in Phase III development by 2010. Development cycle times and quality for small molecules and biologics. Number of NME launches per year. Attrition rates. Number of development projects by phase. Number of in-licensing deals, alliances and acquisitions. R&D investment levels. Improving R&D quality and speed through leading-edge science, effective risk management and decision-making and overall business efficiency. Maximising the value of our biologics business and continuing to build a major presence in this fast-growing sector. Investing in external opportunities to enhance our internal innovation through in-licensing, alliances and acquisitions. 2008 target exceeded for small molecule development cycle times. NME and life-cycle management progressions

Crane, A. and Matten, D. (2010) ‘Corporate social responsibility’, (3rd edition) Business Ethics. Oxford: Oxford university press, pp.51-60