Visit the web site of Merck, the world’s largest pharmaceutical company and read the Mission and Values statements posted there (http://www.merck.com/about/mission.html). Then answer the following questions:1. Does the mission clearly state what Merck’s basic strategic goal is? Do the values listed here provide a good guideline for managerial action at Merck? Do those values recognize stakeholder claims?2. Read the section on Merck’s corporate responsibility and code of conduct (http://www.merck.com/cr/). How does Merck attempt to balance the goals of providing stockholders with an adequate rate of return on their investment, while at the same time developing medicines that benefit humanity and that can be acquired by people in need at an affordable price? Do you think that Merck does a good job balancing these goals?3. In late September 2004, Merck recalled one of its best drugs, Celebrex, after research showed that people who used Celebrex had an elevated risk of suffering a heart attack. To what extent do you think that Merck’s values and code of conduct played a part in this decision? Do you think they pulled the drug from the market quickly enough (you may want to take a look at press reports on this issue).
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