Merck- Ethical Background
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The company that I chose to research is Merck & Co., Inc. Merck is the leading research -driven pharmaceutical products and services company. Merck
discovers, develops, manufactures and markets a broad range of innovative products to improve human and animal health, directly and through its joint
ventures. Merck is a publicly traded organization that has expanded globally.
The mission of Merck is to provide society with superior products and services by developing innovations and solutions that improve the quality of life and satisfy customer needs, and to provide employees with meaningful work and advancement opportunities, and investors with a superior rate of return. The Values of Merck are five fold: 1. Our business is preserving and improving human life. All of our actions must be measured by our success in achieving this goal. We value, above all, our ability to serve everyone who can benefit from
the appropriate use of our products and services, thereby providing lasting consumer satisfaction. 2. We are committed to the highest standards of
ethics and integrity. We are responsible to our customers, to Merck employees and their families, to the environments we inhabit, and to the societies we serve worldwide. In discharging our responsibilities, we do not take professional or
ethical shortcuts. Our interactions with all segments of society must reflect the high standards we profess. 3. We are dedicated to the highest level of scientific excellence and commit our research to improving human and animal health and the quality of life. We strive to identify the most critical
needs of consumers and customers, and we devote our resources to meeting those needs. 4. We expect profits, but only from work that satisfies
customer needs and benefits humanity. Our ability to meet our responsibilities depends on maintaining a financial position that invites investment in leading-edge research and that makes possible effective delivery of research results.
5. We recognize that the ability to excel — to most competitively meet societys and customers needs — depends on the integrity, knowledge,
imagination, skill, diversity and teamwork of our employees, and we value these qualities most highly. To this end, we strive to create an environment of
mutual respect, encouragement and teamwork — an environment that rewards commitment and performance and is responsive to the needs of our employees
and their families.
Merck recognizes the importance of open dialogue and two-way communications with both internal and external groups and constituencies that
have a stake in how they conduct their business. These stakeholders have an
interest in their policies, programs and performance on a variety of issues,
including financial, social and environmental. The companies stakeholders are
as follows: patients, customers, employees, community/environment,
shareholders, suppliers/distributors, peers and the Board of Directors.
(SEE INDEX FOR LIST AND DESCRIPTIONS) Patients: Helping to
improve the health and well-being of people everywhere by discovering,
developing and bringing to market breakthrough medicines is at the core of what
they do. They support global initiatives designed to better educate patients
about their health and treatment options through collaborations with patient
advocacy groups. Their efforts also center on securing greater access to
medicines for patients across a number of fronts: from advocacy for
comprehensive Medicare reform to the establishment of innovative partnerships,
such as the African Comprehensive AIDS/HIV partnership now underway in
Botswana. They are also an active member and participant in initiatives
sponsored by the World Economic Forum and the United Nations. Employees:
Fostering a work environment that brings out the best in their employees is a top
priority at Merck. They design and implement strategies to enhance the abilities
of their managers and employees to respond successfully to the changing
business environment and enable Merck to become a top-tier growth company
over the long term. They actively seek feedback and dialogue by surveying their
employees to determine their opinions on how well they are achieving their
mission to maintain a satisfying and productive work environment, and to treat
people fairly and with respect. Customers: They feel it is critical to identify
customer needs and rapidly respond to them by delivering innovative and lasting
solutions as well as constantly improving their products. Shareholders: They
maintain ongoing communications with their shareholders through a variety of
initiatives aimed at providing relevant information that is often customized to
each groups interests and needs, such as their annual report, annual
shareholders meeting, and regular meetings with market analysts to report on
their financial performance. Community/Environment: Building trusting
relationships with their neighbors in the communities in which they operate their
facilities and where they live and work is an integral part of their commitment to
being