Write 2 pages with APA style on Reflection Paper: Module 1. Corporate Social Responsibility Task Introduction Most business companies globally face challenges, but what differs is the method in which they solve their crisis. Companies that have substantial management often solve the challenge amicably and make sure that the problem does not materialize later. In this essay, I will talk about Mercks Company, the challenges the company went through, and the progression it took to find the underlying cause of the problem. All the stakeholders that I perceive to have a bona fide interest in the Merck Companys Pyramid, which is a successful business organization, are the Maidens Miller Company that produces garments, the Coca-Cola Company that deals in production of beverages, AT & T company deals in production of electronic devices and Blue cheap Companies such as IBM and GE. The above companies have close ties with Merck Companys dilemma they influenced the Corporate Social Responsibility Pyramid. The CSR pyramid is indeed beneficial when the market setting roughens.Merck Company is one of the largest and successful pharmaceutical companies in the world (Hassen, 2004). The company encountered some difficulties and almost lost the potent protection on some of the best selling medication drugs to the public. The dilemma occurred since the company had to make quick decisions that would save it from collapsing due to lack of satisfactory funds within the Corporate Social responsibility. The key economic issue was that the Mercks company did not want the economic situation to disintegrate from the previous one. The economic implication was the appreciable focus on the methods of solving the problem the company had encountered. The implications suggested were aimed at aiding the company from collapsing. The ethical and philanthropic consideration argued that to run a friendly company to the customers, business ethics was esteemed (Gilmartin, 2003). The decision that fits the organizations values and principles of profitability is that is against the involvement of the drug business project. The companys ethical values states that the company will only conduct business that is legal in the country and that it will not accept or involve in illegal business projects that may harm the company. Drug business is illegal in many countries across the world. therefore, when the government realizes that an organization or a group of people is involved, they stop their operations (Pharma Ethics: Merck CEO Resigns, 2005). The project is tempting because of the immense profits realized in the period. hence, the Merck Company contemplated self-enrichment. According the company, the stakeholders believe in trust as a significant virtue for a business to excel honestly without any guiltiness of their success. The stakeholders and the company would be negatively affected in case the drug project failed since the money spent to start the business would go to waste and threaten the financial department. Mostly, the employees do not have a place to go if the company is closed (Finegold, 2005). The company would lack enough capital to run the company through investing in other profitable business ideas. The group of people who will be harmed will be the stakeholders who had invested their money in the company, and the workers and employees of the bank.If I were the CEO of the Merck Company, I would stop the project immediately, think, and take affirmative action to solve the problem. The reason why I would stop the drug project is that it may later initiate monetary problems. There is no ground to contract with a project that is insecure and brings losses to the company, therefore, the best solution is to leave the project and concentrate on the developing and motivating projects, which abide to the stipulated regulations. I will be comfortable in sharing my opinion to the board or members and the stakeholders, since the Carrolls theory supports communication and honesty in the business sector for success to be realized. ConclusionThe Merck Company has gone through business challenges, and the management decided to start a drug project for it to design quick wealth for the company. Most business organizations go through the same challenges, and therefore, other companies should learn as an example. A company is bound to realize appreciable success and esteem by the populace through the maintenance of proper ethical conduct. ReferencesFinegold, D. (2005). Bioindustry ethics. Burlington: Academic Press. Pp 31. Print.Gilmartin, R. (2003). Ethics and the Corporate Culture. Raytheon Lectureship In business Ethics. Retrieved on October 5, 2011 from: Hassen, J. (2004). Review: The Drug Druggernaut. Meyapsychology. Ethics. Retrieved on October 5, 2011 from: Pharma Ethics: Merck CEO Resigns. (2005). Vioxx deceptive Marketing / AIDS drug experiments Foster Kids.
This is a sample question
Need help with a similar assignment?
Place an order at Study Pirate
Attach all custom instructions.
Make Payment. (The total price is based on number of pages, academic level and deadline)
We’ll assign the paper to one of writers and send it back once complete.