Astrazeneca And Social Responsibility Essay - 1642 Words

In this essay I am going to look at AstraZeneca PLC one of the world’s top pharmaceutical companies. By describing several relevant cases and commenting on them I will try to evaluate the extent to which the Company acts under the principles framing its corporate governance and corporate social responsibility policies. To give brief overview, AstraZeneca PLC, formed on April 6, 1999, by the merger of British Zeneca Group PLC and Swedish Astra AB, is one of the biggest pharmaceutical companies in the world. It is well illustrated by some key facts listed on the Company’s website: â€Å"Our products are available in over 100 countries; sales in 2005 totalled $24 billion, with an operating profit of $6.5 billion; we spend over $14 million†¦show more content†¦(NYSE Group, 2006) It is a fact that if the corporation is large, it is bound to attract certain amount of attention. That is the price of being at the top. Therefore, when a company gets as big as AstraZeneca is, there are always some responsibilities to deal with. The days when corporations were only required to make profits for their shareholders are gone. For that reason, today companies are expected to act in a way that would bring most benefit to all stakeholders (i.e. â€Å"individuals or groups which either: are harmed by, or benefit from, the corporation or whose rights can be violated, or have to be respected, by the corporation† (Crane Matten, 2004). It seems that AstraZeneca knows how to play the game. To begin with, not only have the Company its CR (Corporate Responsibility) policies and principles set, it also makes every effort to assure that these are being held. To support this, AstraZeneca has employed a Non-Executive Director with responsibility for supervising CR within company. Moreover, the Company has the whole Global Committee established to develop the CR framework, which adapted a little bit according to each area’s national, functional and site issues and priorities is used in the Company’s branches all over the world. In addition to these, AstraZeneca utilizes several different ways of evaluating the Company’s performance. All that information is available at the Company’s website to anyoneShow MoreRelatedAstrazeneca and Csr Essay1720 Words   |  7 PagesIn this essay I am going to look at AstraZeneca PLC one of the world’s top pharmaceutical companies. By describing several relevant cases and commenting on them I will try to eva luate the extent to which the Company acts under the principles framing its corporate governance and corporate social responsibility policies. 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