USE THIS INDEX
? SHORT INTRODUCTION(HALF PAGE ONLY)
WHAT THE PURPOSE OF THE REPORT IS
WHAT YOUR QUESTION/PROPOSAL IS
? LITERATURE REVIEW
INCLUDE DEFINITION/KEY CONCEPTS
ONLY REVIEW SOMEONE USE IN YOUR MAIN REPORT
? MAIN ARGUMENT
HOW YOU ARE ANSWERING THE QUESTION
WHAT EVOLUTES YOU HAVE
WHAT ALTERNATIVE ARGUMENTS THERE MAY- BE
HOW YOU JUSTIFY YOUR ANSWER
WHAT ARE THEY
? OVERALL SUMMERY
? REFERENCE LIST
1. Introduction 1
1.1 Concept of Social Responsibility 1
1.2 Concept of CSR 1
1.3 Carroll’s CSR Definition 3
1.2 Pharmaceutical Industry 4
2. Research question 5
3. Research objectives 5
4. Research methodology 6
5. Literature review 7
5.1 Theories of CSR 7
5.2 Advantages of CSR to Every Industry 8
5.3 CSR in the pharmaceutical industry 9
5.4 Major pharmaceutical company and CSR programs 11
6. Arguments on positive impact of CSR on pharmaceutical industry 13
7. Evaluation of alternative answers 17
8. Recommendations 18
9. Conclusion 19
1.1 Concept of Social Responsibility
As the part of society, every individual has the responsibility towards the society where one lives. It is the obligation or responsibility of every individual or organization to perform or fulfill the duty towards the society. Individual live in society and take a lot from the society. Therefore an individual should also fulfill the civic duty and perform the action that would benefit the whole society (Friedman, 2007).
1.2 Concept of CSR
CSR stands for Corporate Social Responsibility. To find the world widely accepted definition of Corporate Social Responsibility is difficult as the activity which is considered as socially responsible in America may not be considered as socially responsible in Asia, Africa, South Africa, Europe, etc. Organization should perform the activities that benefit the society where they are operating. Corporate Social Responsibility refers to the initiative of the company to fulfill its responsibility towards society and environment. As the part of CSR company initiate different actions such as waste management, pollution reduction, contributing resources for the educational program, health program and so on. Corporate social responsibility in present era is not the matter of choice for the company. For the sustainable growth and profitability, company should focus on fulfilling its responsibility towards the society. CSR states that organization should not be only responsible to shareholders but also to stakeholders. CSR program can be domestic and international (McWilliams and Siegel, 2001). Business takes input from the social process it and provides output to the society. Therefore no business can operate without the society or get detached from the society. A company which fulfills the responsibility towards the society In order to gain the public trust and increases public image company should be responsible towards the society. Corporate social responsibility should not be taken as the financial burden by the company but as the investment. CSR may not produce the benefit in short term but in long run, company would be certainly benefitted (Holme and Watts, 1999). Today understanding the importance of Corporate Social Responsibility every big and small company is contributing some portion of resources to the development of society. Company while operating are emitting different waste materials and chemicals. These emissions have a negative impact on the environment. If the company only focuses on earning a profit and not contributing to the development of society then society may boycott the company from the society or avoid the product and services of the company. CSR has become the standard business practice (Schwartz, 2017). Development of Corporate Social Responsibility strategy has become the major and inevitable part of the business organization. CSR is the broad concept which includes human rights, corporate governance, health and safety, environment, working conditions, contribution to the economic development and so on. Therefore there are numbers of way and area through which a company can be socially responsible or contribute to the development of society. CSR is known by the different term such as Johnson ; Johnson, BP, Novo Nordisk, and Proctor ; Gamble state it as Sustainable Development. Likewise, Ford, Intel, GE, and Novartis state it as Global Citizenship or Corporate Citizenship (Matten and Moon, 2004).
There are numbers of the company all around the world which are actively participating in the sustainable development of the environment and society. For example, Unilever is a multinational company, it incorporates consumer, employees, investors, supplier, and communities in its CSR strategy (Thompson, 2017). Google is another multinational company that spends billions on the Corporate Social Responsibility. Likewise, Amazon, Toyota, Facebook, TATA, etc all are focusing on the CSR as they are aware that through CSR it would be easy for these company to position their product and services in mind of customers.
Different scholars are defining the CSR for about the 40 years and have constructed the framework for the CSR paradigm. Bowen (2015) defines CSR as the responsibility of the company to follow those policies, to make those decisions or to follow those lines of action which are desirable in terms of the objectives and values of our society.
Frederick (2006) states that the actual meaning of CSR is the matter of debate from the beginning and the moral underpinnings of CSR are neither clear nor agreed upon.
1.3 Carroll’s CSR Definition
Carroll state that there is four model of CSR and they are a legal responsibility, ethical responsibility, economic responsibility and philanthropic responsibility.
Economic responsibility: (USE THIS WORD FINANCIAL)The first responsibility of company as the carol is the economic responsibility. The company has to earn a profit in order to fulfill its responsibility towards shareholders, employees, and customers. Shareholders are the major contributors of the capital of the company and it has to provide a return for the investment made by them. The company also has to provide a financial benefit to the employees and provide quality goods and services to the customers at an affordable and fair price.
Legal responsibility: After fulfilling the economic responsibility, another responsibility of the company is the legal responsibility. Laws and regulations lay the foundation for the business to operate in the society. The government has formulated and implemented various rules and regulation for the smooth running or operation of the company. Therefore the company has to fulfill the legal responsibility by complying with the all the rules and regulations of the country.
Ethical responsibility: (USE COMMUNITY RELATION WORD)Another responsibility of the company is the ethical responsibility. This responsibility states that company should focus on doing the right and fair things. Business has the ethical responsibilities towards employees, customers, and society. For instance, it has the responsibility to respect the customers, responsibility to provide the adequate information to the customers about the side effect of the use of products, etc.
Philanthropic responsibility: This is the highest level responsibility as per Carroll. This responsibility includes activities that support the rise of the living standards of the people such as donation and charity activities, sponsoring of the arts and sports program, an organization of recreational activities, etc (Carroll, 1999).
Carroll also suggests the types of response that company provides to the social responsibilities. He states that there are four common types of strategies that company adopt as the part of social responsiveness.
Reaction: Company adopting this strategy does not show any responsiveness towards the society or in other words company denies its responsibility towards the society.
Defense: Company adopting this strategy tries its best to avoid the social responsibility and do the minimum social activities.
Accommodation: Company adopting this strategy accepts the social responsibility and fulfills the responsibility as per the demand of pressure group.
Proactive: Company adopting this strategy is proactive to the social responsibility and goes beyond the industry norms in order to fulfill the social responsibility. The company does not take the social responsibility as the burden or compulsion but fulfill the social responsibility as the choice (Visser, 2006).
1.2 Pharmaceutical Industry
The pharmaceutical industry is the industry which is focused on developing or producing the drugs that are used for the medical purpose. They are concerned with producing, testing and marketing the different medicines. The pharmaceutical company is the important part of the society. They produce the essential commodity that is needed in the human life and make differences in life and death. Without the proper health, one will not be able to meet the other need. The pharmaceutical industry comprises of economic and intellectual power. With the help of both powers pharmaceutical industry will be able to solve the health problem and make the society the better place (Kola and Landis, 2004).
2. Research question
The research question is the important part of research activities. Research questions guide the whole research and help to determine the suitable research methodology. The research question is the answerable issue and it is the initial phase of the research project. Any researcher starts the research with identifying the issues that need to be solved or the area that researcher wants to study about. Research question can be taken as the foundation of research. Therefore without research question researcher cannot carry out the further research. Research question starts with the research problems or issue that need to be addressed. The good research questions must be feasible, clear, significant and ethical. In order to write the research questions, one need to first of all make the draft of the research questions, make the draft of purpose statement and finally make a revision and rewrite the research questions. While writing the research question one needs to understand the variables of research and make the questions suggesting the ways to test the questions. Research questions can be expanded as per the need by adding the variables or features. There are different variables such as connecting variables, mediating variables and moderating variables. Good research question lead to better and informative research project (Hulley, Cummings, Browner, Grady, Hearst and Newman, 2001).
The topic of this research paper is “Positive impact of CSR on the pharmaceutical industry”
The suitable research question for the project would be, “Does CSR poses a positive impact on the pharmaceutical industry?”
Alternative answers to the research question would be:
• Yes, CSR poses positive impact.
• No, CSR does not pose positive impact.
• CSR poses both positive and negative impact.
3. Research objectives
Report objectives refer to the end result of the report. Report objectives provide the guidelines to the researcher. Report objectives are the results that researcher wants to achieve (Wilson, 2008). The major objectives of this report are:
• To identify the positive impact of the CSR on a pharmaceutical company.
• To evaluate the other possible answer to the research questions.
4. Research methodology
Research is the systematic study that is concerned with the collection of data and discovering the new factor information. Research is done through detail study, experiment, observation, keen analysis, comparison and so on. The major objectives of the research are to discover the new facts, test the important facts, analyze the events, develop new scientific tools and techniques, and find the solution to the existing problem and so on. Research methods refer to the procedures, framework, and algorithm that are used in the research process. Research methods provide guidelines for the collection of data and find solution or answer the research question. It is essential that every researcher choose the suitable research methodology for their research project. Therefore research methodology can be defined as the procedures by which the