Kaplan and Norton's Balanced Scorecard

Name: James Allam Ejidio

Course: Introduction to Business

Assignment

Social Responsibility Decisions

Merck and Mectizan

Introduction

In order for the business to be successful, management team must have a correct target, and know how to analysis the situation of their business. Economic necessities and the vagaries of the market place will influence much of what happen in their business. In addition, looking for business opportunities can only be achieve through long term economic growth and therefore, intended to deliver the best to the customers, business partners, stakeholders, employees and society by being a partner in development.

Jeff Madura (2007) noted that Stakeholders are all of those who have a stake in what an organization does and have it perform. This can include owners, managers, customers, employees, suppliers, financial institutions, the community, the government, natural environment, and stakeholders. When it comes to Merck company dilemma of weather to invest in further research to find a cure for Onchocerciasis or river blindness, I believe the key stakeholders include the scientists who want the company to invest in further research, Merck’s stakeholders who want growth in stock value, people who would be saved from river blindness, humanitarian agencies that have trained to bring relief to river blindness victims and the countries in which river blindness occurs.

In comparison to the figure 3.1 in the Exploring management Book page 52, in perspective to the senior manager at Merck, we need to look at ethical issues and find the optimal solutions for them, by taking well-thought out and rational decisions based on all possible parameters will help everyone, the society, the consumer, the environment and more importantly, even the business. Schermerhorn (2010, p.52) stated that managers must use approach such as Utilitarian view to asses the behaviors of individual in the...