By David L. Finegold, Cecile M Bensimon, Abdallah S. Daar, Margaret L. Eaton, Beatrice Godard, Bartha Maria Knoppers, Jocelyn Mackie, Peter A. Singer
''Biotechnology and pharmaceutical businesses are frequently pushed via revenue ambitions, however the case reports in Bioindustry Ethics express that this can be more and more no longer on the fee of moral integrity. ...lend[s] vital insights to different executives and execs who may be constructing their very own practices and policies.'' - GENOMICS & PROTEOMICS (August 2005)
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Additional resources for BioIndustry Ethics
And that’s the leadership aspect—do they collaborate and treat people with respect. We’ve terminated people for leadership issues—people who have been very good performers, but lousy leaders. It is meaningful. TREATING EMPLOYEES ETHICALLY Employees are one of the key stakeholders that Merck has always tried to treat in a supportive and ethical manner. Long before Silicon Valley startups had popularized the practices of free food and flexible work practices, Merck’s huge complex in Rahway, New Jersey, had sought to provide everything that its star scientists needed to be happy and productive.
According to Hosny, an ethical approach to business is becoming an increasingly important part of attracting and retaining a new generation of workers: Defending your ethics with your employee base is a new dimension. More and more intelligent young people are willing to challenge and push back, and they need to feel that they are working for a company whose values they can subscribe to. I think you can fail The Wall Street Journal test, as stock prices can go up and down. But if you don’t have the confidence and trust of your employee base, then you are really in trouble.
P9310_02 5/6/05 8:58 PM Page 29 Merck: Staying the Course 29 ETHICS RESOURCE CENTERS In addition to its growing portfolio of global health initiatives, The Merck Company Foundation has also undertaken a major new business ethics initiative in partnership with the Washington, DC-based Ethics Resource Center (ERC). ” Thus, when Khalil began exploring an initiative to address ethical issues affecting how business is conducted in countries where Merck operates, he recalls that Gilmartin “was very supportive”: I first got the idea in the mid-90s that industry was spending a lot of time regulating itself, but not discussing ethical decisions with policymakers.