The Potential Benefits Of Social Investments Essay

1649 WordsMar 28, 20167 Pages
The potential benefits of social investments to society are significant. Companies could use their cash, employees, products and skills to challenge global problems such as health, poverty, hunger and many more. Not only do social investments help make the world a better place, but research has proven that such actions have positive impacts on both the community and profitability of the business itself. According to KPMG, the terminologies used for social investment differ from one company to another with “Community investment”, “Charitable philanthropy” and “Corporate citizenship” among the most widely used. Other terminologies include “ Corporate Social Responsibility” which is abbreviated by CSR. In the biopharmaceutical industry, corporate social responsibility has been a vital tool for the ongoing success of certain companies. Recent scandals such as Martin Shkrelli and his skyrocketing pricing of Daraprima, a vital drug, has brought CSR practices in the pharma industry back into spotlight. Merck pharmaceuticals and CO. is one of the very few and dominant company in the pharmaceutical industry that has invested in social responsibility ever since it was founded in 1891. The American-based company has played a major role in improving health worldwide and increasing access to medicine all around the globe. Perhaps what has made the company such a success for the past 120 years is the pursue of social ends at the very core of their mission. Following the integrative model
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