Benchmarking and Transparency: Incentives for the Pharmaceutical Industry's Corporate Social Responsibility [Book Review]
Journal of Business Ethics 95 (4):641-658 (2010)
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)|
References found in this work BETA
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Citations of this work BETA
Dialogism in Corporate Social Responsibility Communications: Conceptualising Verbal Interaction Between Organisations and Their Audiences. [REVIEW]Niamh M. Brennan, Doris M. Merkl-Davies & Annika Beelitz - 2013 - Journal of Business Ethics 115 (4):665-679.
How Pharmaceutical Industry Employees Manage Competing Commitments in the Face of Public Criticism.Wendy Lipworth, Kathleen Montgomery & Miles Little - 2013 - Journal of Bioethical Inquiry 10 (3):355-367.
Social Responsibility: A New Paradigm of Hospital Governance? [REVIEW]Cristina Brandão, Guilhermina Rego, Ivone Duarte & Rui Nunes - 2013 - Health Care Analysis 21 (4):390-402.
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