Globalization
GlaxoSmithKline
GSK is a British multinational pharmaceutical, biologics, vaccines and consumer healthcare company and it is the world's fourth-largest pharmaceutical company measured by sales (after Pfizer, Novartis, and Sanofi) and operates internationally with an enormous product mix. The company has been heavily investing in developing countries such as China. In July 2013, GSK confirmed that some of its senior Chinese executives appeared to have broken the law after police accused it of funnelling up to 3 billion yuan (approx. £323 million) to travel agencies to facilitate bribes to doctors to boost the sale of its medicines (Riley, 2013). In the last three years alone, pharmaceutical companies have been fined more than £13bn by authorities in the U.S. And now the focus is increasingly on the activities of "Big Pharma" in emerging markets (Riley, Business Ethics & CSR - GSK Promises to be Good, 2014).
GSK has produced similar ethical violations in the U.S. market. In 2012 GSK agreed to plead guilty to three criminal counts; two counts of introducing misbranded drugs Paxil and Wellbutrin, and one count of failing to report safety data about the drug Avandia to the Food and Drug Administration (Bohnwagner, 2013). After the...
In an era of terrorism and turbulence in global markets the greater the level of shared risk and transparency, the greater the likelihood financial institutions will be more resilient in the face of greater challenges of operation. This is a critical point that must be kept in mind in the context of the IFI CSR Maturity Model, as globalization forces a higher level of inter-process and cross-functional coordination throughout a
S., despite ardent opposition to the potential prophesized concerns of many. Real progress is being seen and free trade is expanding, exponentially and many U.S. And Canadian concerns of Asian market dominance are being addressed that otherwise would not have been. Additionally the new ground being cemented in negotiation and legal redress is substantially demonstrative of the future benefits of free trade agreements such as CAFTA. Works Cited Burtless, Gary Progressive Policy
Essay Topic Examples 1. The Intersection of Profit and Social Responsibility: Crafting a Balanced CSR Plan: This topic explores how businesses can design a Corporate Social Responsibility (CSR) plan that aligns with their profit goals while effectively contributing to social issues. The essay would delve into strategies for integrating ethical practices into the business model without compromising financial performance. 2. Measuring the Impact of CSR Initiatives on Community Development: Focusing on the
The ethics of using labor at rates far below what would be necessary in their own nations, with no requirement of paying healthcare, no workers' compensation insurance, no unemployment insurance, or even the threat of unionization sadly ensure this practice will continue. Yet when one considers this aspect of westernization it is clear that globalization in fact does not provide benefits to everyone in the long-run. Towards a More Egalitarian
Organization Corporate Social Responsibility (CSR) refers to the relationship between a business and the society and how can both can benefit mutually through a joint partnership. Caroll (1991) suggests four different aspects to be a part of CSR and they are economic, legal, ethical and philanthropic. The economic aspect is the basis on which the business is built while legal responsibilities are encoded in law. Ethical responsibilities include doing what
Governmental CSR Policies Social Responsibility and Regulation The origin of the formal construct of corporate social responsibility is easily traced back to the 1950s (Carroll, 1999, p. 268). Over four decades, the concept had been expanded to include three prongs: Business ethics, corporate responsibility, and corporate social responsiveness" (Epstein, 1987, p. 106). The concepts are likely to continue to develop in concert and against the background that has been active for over
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