Corporate Social Responsibility

Topics: Business ethics, Corporate social responsibility, Social responsibility Pages: 11 (3609 words) Published: May 6, 2013
Contents
Page

1. Introduction ........................................................................................................2 2. The stance of Pfizer ............................................................................................3 2.1 Theories of corporate social responsibility and ethics ...................................3 2.2 Pfizer's stance on CSR and ethics ..................................................................4 Bribery of Big Pharma's ........................................................................................5 3.1 Overseas Commercial bribe ...........................................................................5 3.2 Pfizer in bribery crisis ....................................................................................6 Reaction and negative impacts ..............................................................................7 4.1 Risks of Pfizer ................................................................................................9 4.2 Change the implicit rule .................................................................................9 Conclusion .............................................................................................................10 List of figures ..............................................................................................................12 Bibliography ................................................................................................................13

Introduction
The core of Pfizer's corporate responsibility is to support sustainable development, then focus on a wide range of development, including innovative solutions to global health issues and contributions, and adhere to the highest ethical standards in the research and development of marketing, in order to adapt to the rapid development of the world (Pfizer annual review 2011). Along with the accelerated pace of globalization, the concept of corporate social responsibility presents the trend of expansion and complexity (Smith 2003). Enterprises include the internationalization of enterprises and multi-national corporation, thus protection to stakeholders not only related to their own interests, but also includes the protection of the interests of the individual host country, such as charity, rational exploitation of resources, abide by business ethics and maintain organizational reputation (Smith 2003).

However, the multi-national corporation in the global business has repeatedly occurred the event that against the corporate social responsibility, which affects the social image of multi-national companies and caused harm to all aspects, so the research on the social responsibility of pharmaceutical enterprises has important significance in both theory and practice (Wilson 2012). Consequently, pharmaceutical enterprises are facing the reform and opportunities, also plays a significant role in social responsibility, but most of current pharmaceutical companies is not clear or misunderstood for its social responsibilities range, resulting in major responsibility issues in some companies such as Pfizer bribery of local officials, as well as doctors in multinational, so as to obtained the recognition of the regulatory and prescription, which expanded sales (Silverman 2012).

This report attempts to assess the business ethics and corporate social responsibility of pharmaceutical companies, especially the company Pfizer. The main arguments for stance on Pfizer are considered, followed by the most serious bribery case involving Pfizer recently, including the reaction and impacts connected with overseas bribery and responsibility. Furthermore, analyzed the challenges and risks, because of the medical bribery violations of ethics and social responsibilities. Finally, the report will show how the company could improve the management of...

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