Benchmarking and Transparency: Incentives for the Pharmaceutical Industry's Corporate Social Responsibility [Book Review]
Graduate studies at Western
Journal of Business Ethics 95 (4):641-658 (2010)
|Abstract||With over 2 billion people lacking medicines for treatable diseases and 14 million people dying annually from infectious disease, there is undeniable need for increased access to medicines. There has been an increasing trend to benchmark the pharmaceutical industry on their corporate social responsibility (CSR) performance in access to medicines. Benchmarking creates a competitive inter-business environment and acts as incentive for improving CSR. This article investigates the corporate feedback discourses pharmaceutical companies make in response to criticisms from benchmarking reports. It determines whether these responses are part of a healthy process in increasing access to medicines or a barrier to improvement. A qualitative analysis on the feedback the industry provided was performed, and the responses seen in these statements were grouped by analysing the language used, the ideas portrayed and atti- tudes of the companies. Increasing transparency through benchmarking is a powerful tool which reveals the industry’s shortfalls to the public, affects the decisions of socially responsible investors, and is a risk to their financial bottom line. This article demonstrates the importance of benchmarking and transparency in creating inter-business competition and the translation of these responses to actual access to medicine practices|
|Keywords||benchmarking corporate social respon- sibility pharmaceutical industry socially responsible investing transparency|
|Categories||categorize this paper)|
|Through your library||Configure|
Similar books and articles
Chris Groves, Lori Frater, Robert Lee & Elen Stokes (2011). Is There Room at the Bottom for CSR? Corporate Social Responsibility and Nanotechnology in the UK. Journal of Business Ethics 101 (4):525-552.
Klaus M. Leisinger (2009). Corporate Responsibilities for Access to Medicines. Journal of Business Ethics 85 (1):3 - 23.
Eng Tuck Cheah, Wen Li Chan & Corinne Lin Lin Chieng (2007). The Corporate Social Responsibility of Pharmaceutical Product Recalls: An Empirical Examination of U.S. And U.K. Markets. [REVIEW] Journal of Business Ethics 76 (4):427 - 449.
Edmund F. Byrne (2007). Assessing Arms Makers' Corporate Social Responsibility. Journal of Business Ethics 74 (3):201 - 217.
Antonio Argandoña, Carlos M. Moreno & Joan M. Solà (2009). Social Responsibility and Social Security: The Foundation of Caja de Pensiones Para la Vejez y de Ahorros. [REVIEW] Journal of Business Ethics 89 (3):319 - 332.
Guido Palazzo & Ulf Richter (2005). CSR Business as Usual? The Case of the Tobacco Industry. Journal of Business Ethics 61 (4):387 - 401.
Michael J. Maloni & Michael E. Brown (2006). Corporate Social Responsibility in the Supply Chain: An Application in the Food Industry. [REVIEW] Journal of Business Ethics 68 (1):35 - 52.
William Flanagan & Gail Whiteman (2005). “AIDS is Not a Business”. International Corporate Responsibility Series 2:375-391.
James Weber & Jennifer J. Griffin (2005). Industry Social Standings. Proceedings of the International Association for Business and Society 16:190-195.
Johan J. Graafland, S. C. W. Eijffinger & H. SmidJohan (2004). Benchmarking of Corporate Social Responsibility: Methodological Problems and Robustness. [REVIEW] Journal of Business Ethics 53 (1-2):137-152.
Added to index2010-02-20
Total downloads28 ( #49,956 of 740,152 )
Recent downloads (6 months)1 ( #61,960 of 740,152 )
How can I increase my downloads?