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Merck's Stakeholders and Business Ethics

Milton Friedman's views on business responsibility were being demonstrated in the given case about Merck and its drug Keytruda. While not all clinical trials produced positive outcomes, Merck still chose to sell Keytruda to increase profits, which could potentially harm consumers in the long run. The primary stakeholders of Merck are consumers, employees, suppliers and shareholders, while secondary stakeholders include local communities, trade associations, and competitors. Merck's strategic decisions are influenced by stakeholders, such as when R&D head Rogel Perlmutter redirected staff resources solely to focus on developing Keytruda.

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Jonelyn Katipunan Taran
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65 views1 page

Merck's Stakeholders and Business Ethics

Milton Friedman's views on business responsibility were being demonstrated in the given case about Merck and its drug Keytruda. While not all clinical trials produced positive outcomes, Merck still chose to sell Keytruda to increase profits, which could potentially harm consumers in the long run. The primary stakeholders of Merck are consumers, employees, suppliers and shareholders, while secondary stakeholders include local communities, trade associations, and competitors. Merck's strategic decisions are influenced by stakeholders, such as when R&D head Rogel Perlmutter redirected staff resources solely to focus on developing Keytruda.

Uploaded by

Jonelyn Katipunan Taran
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Name: Jonelyn K.

Taran

Section: BSTM 3-1

Date: 3/8/23

ACTIVITY

1. Which between Milton Friedman's and Archie Carroll's views on business responsibility is
being demonstrated in the given case? Explain your chosen view.

For me I think Milton Friedman’s views on business responsibility were being demonstrated in the given
case, why? Because it is using Keytruda resources and only engaging in activities designed to increase
their profit. Even though not all clinical trials have produced positive outcomes they still choose to sell it.
In the long run it may result to harm the people using the drug even though the main core of creating
and selling the drugs are to help them.

2. Who are the primary stakeholders of Merck based on the case study?

The primary stakeholders of Merck based on the case study are the consumers/customers, employees,
suppliers, and of course the stakeholders.

3. Who are the secondary stakeholders of Merck based on the case study?

The secondary stakeholders of Merck based on the case study are the local communities, trade
associations, and of course their competitors.

4. How do the stakeholders of Merck influence the strategic decisions of the company?

It is when Merck’s R&D head, Rogel Perlmutter said to his staff that whatever projects they are working
on, they should stop because they will focus on the drug Keytruda. They guarantee that the
organizational workplace environment remains dynamic, encouraging, and rewarding, while ensuring the
organization has excellent working conditions that allow it to perform well. They have the upper hand in
deciding what the employees should do. They want their objectives to be met.

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