Merck Case Analysis Essay

605 Words Jul 18th, 2013 3 Pages
Stakeholder Analysis – Merck

Identify Key Stakeholders In the pharmaceutical industry, there is much to consider and constantly change in order to continue profits. In order to continue profits, a main factor, as said by former Merck president George W Merck, is the people. Merck said, “We try to never forget that medicine is for the people”. The first group of stakeholders has to be the people, or the consumer. The consumer is actually using the product from Merck and Co. and ultimately determines the success of the business. The second group of stakeholders is the employees. Employees determine the performance of the company. The employees consist of the executives and the lower management. A third group is the research and
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4,400 employees were laid of in 2006. When profitability of the company decreases, changes need to be made and employees do not want that change to be their position. Researchers and developers are interested that their product in successful for Merck. They want to create a product that will help the consumer and the employees. The doctors are interested in a product that will benefit their patients. The pharmaceutical company the doctor uses needs to be trustworthy and reputable. If something goes wrong with what the doctor prescribed, the patients may eave the doctor. Lastly, the investors are interested in the success of the company because like I stated earlier, the investor wants a return on their investment. The investor is interested in how well the products sell and for what price they are selling and essentially wants to see profits.
Identify and Discuss Specific Stakeholder Preferences The consumer would want Merck to invest in the safest and most beneficial product that will help their needs. The employees want to take the route that will better the company overall. If the company succeeds, they make more money and are ultimately more successful professionally and personally. The researchers and developers of the product want to take the route that creates new products because then they play a vital role in the creation process. Doctors will wants to see the safest and most efficient products on the market that will help the reputation of the doctor to

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