Merck and Co., Inc. is one of the world’s largest pharmaceutical companies. Merck & Co. Inc. formerly operated as a subsidiary of Merck KGaA and became independent in 1891. The company headquarter is located in Kenilworth, New Jersey. This paper focuses on the issue that this company can face regarding whether to invest more or not in the further research to find a cure for the disease onchocerciasis, also known as river blindness. The main geography location of this disease is Africa, Middle East, and Latin America. Given the fact that this disease is mostly spread in the poorest part of the world, people living there most likely not be able to a pay for the medication, the cure research project would never be profitable for the company.
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Philanthropic responsibilities focus on human welfare or goodwill which fits perfect this case since it has to do with finding the cure for a disease for humans. Ethical responsibilities focus on what is the right thing to do or how to avoid harms. Merck Company’s case fits this criteria too, since the main dilemma here is that should they invest in the project that might not be profitable in regards of money. Legal responsibilities focus on regulations and laws set by the government. This case does not have any specific areas that deal with this criteria. Economical responsibilities focus on need and want of the products. It also focuses on profit for the company. Merck Company case does have the involvement in the need and want part because people do need and want the cure for the disease. However, there is a possibility that the project might be a failure, so it does give a clear answer for profitability. Cite Carroll. And …show more content…
The reason for this decision is that it is the right thing to do for the company who has earned the trust of the society. Also, the company’s financial data shows that it can afford this kind of research that might not be profitable. I will be able to state my opinion comfortably in front of the all stakeholders because I will be able to back up that decision with right financial data, surveys which have results in favor of investment, and research. It is not possible to have everyone agree with my decision, I believe I can convince the majority of stakeholders who will help me to carry on with my
Philanthropic responsibilities focus on human welfare or goodwill which fits perfect this case since it has to do with finding the cure for a disease for humans. Ethical responsibilities focus on what is the right thing to do or how to avoid harms. Merck Company’s case fits this criteria too, since the main dilemma here is that should they invest in the project that might not be profitable in regards of money. Legal responsibilities focus on regulations and laws set by the government. This case does not have any specific areas that deal with this criteria. Economical responsibilities focus on need and want of the products. It also focuses on profit for the company. Merck Company case does have the involvement in the need and want part because people do need and want the cure for the disease. However, there is a possibility that the project might be a failure, so it does give a clear answer for profitability. Cite Carroll. And …show more content…
The reason for this decision is that it is the right thing to do for the company who has earned the trust of the society. Also, the company’s financial data shows that it can afford this kind of research that might not be profitable. I will be able to state my opinion comfortably in front of the all stakeholders because I will be able to back up that decision with right financial data, surveys which have results in favor of investment, and research. It is not possible to have everyone agree with my decision, I believe I can convince the majority of stakeholders who will help me to carry on with my