Organizational Systems & Corporate Responsibility – Pfizer

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Organizational Systems & Corporate Responsibility – Pfizer
Assignment 1 – Group MIMTG09
Does the company operate in business/industries that are by their nature socially or environmentally sensitive? Does the business as a whole face pressure from certain stakeholder groups?
Pfizer is a research-based, global biopharmaceutical company. It claims to have two segments: biopharmaceutical and diversified. The latter involves animal health products, healthcare products and other personal care items (Pfizer.com/about). In the past decade Pfizer has received a lot of pressure from governments, medicine & food authorities and customer groups on mostly socially sensitive issues. It seems that the industry is characterized by corporate social responsibility issues and Pfizer seems to have contributed significantly to this image in the past (justmeans.com).
Multiple tragedies in the pharmaceutical industry in the 50’s and 60’s resulted in various regulations, guidelines, and laws on the introduction of new medical products. Globalization caused a rapid increase of multinationals in the industry, but sadly coercive pressures remained national. It was in 1990 that the International Conference on Harmonization of Technical Requirements for Registration of Pharmaceuticals for Human Use (ICH) was created (Castner et al., 2007). This group is composed of more than six parties that represent various regulatory bodies in the United States, Japan, and Europe. Multinational enterprises in the pharmaceutical industry are mostly pressured by the (inter)nationally organized regulatory bodies to work on socially sensitive issues. These include quality, efficacy, safety, and multidisciplinary topics (ich.org).
A lot of firms in the pharmaceutical industry faced liability issues that resulted from a lack of regulatory policies and corporate social responsibility practices (Castner…...

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