MGT-330 Management: Theory, Practice, and Application.
July 2, 2010
There lies a division in the business world between managers who “do things right” and leaders who “do the right things” (Bennis, 2007, p. 13). The primary difference between good managers and fantastic leaders is the ability to take risks and make independent decisions. Ethical leadership is more important today than ever with the rising effects of globalization on management across borders. Corporations like Merck & Company Pharmaceuticals learn this lesson by thriving with superb management through crises. The impact of excellent leadership shows when companies prove they can survive and learn from problems.
Merck has a long history of working ethically to improve the health and well-being of the world population. The company started by Dr. Ernst Christian Friedrich Schering in Berlin in 1827 and opened for business in America in 1891 (Merck, 2010). Merck scientists are responsible for many important health care contributions, from the discovery of Vitamin B1, the first measles vaccine, antacids, to the first statins used to reduce cholesterol. Merck also takes pride in their commitment to animal health, revolutionizing veterinary science with the introduction of most pet medicines used today, such as antibiotics, and vaccines. Doctors worldwide await the annual publishing of the Merck Manual, providing valuable information on medicines and health conditions. Merging with Schering-Plough in 1971, Merck has evolved into the second largest pharmaceutical company in the world (Merck, 2010).
Management builds on ethical leaders
To survive in progressively more competitive markets, companies have to attract and maintain excellent leaders to guide their companies in attaining objectives. Innovation and creativity lead managers to develop into powerful leaders, bringing... [continues]
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