Positive Impact of Business Ethics, CSR and Sustainability on the Pharmaceutical Industry

POSITIVE IMPACT OF
BUSINESS ETHICS, CSR
AND SUSTAINABILITY ON
THE PHARMACEUTICAL
INDUSTRY

TABLE OF CONTENTS
ABSTRACT....................................................................................................................................3
INTRODUCTION...........................................................................................................................4
MAIN BODY..................................................................................................................................4
Conclusion.................................................................................................................................10
Recommendation.......................................................................................................................10
CONCLUSION..............................................................................................................................11
REFERENCES................................................................................................................................1

ABSTRACT
The stress on organizations in order to do preparation for corporate social responsibility that has
gain impetus in modern period as a means of satisfying economical benefit in business. The
pharmaceutical industry has also been affected by this trend of introducing CSR activities within
the working culture. This paper investigates the positive impacts of CSR activities, business
ethics as well as sustainability of the pharmaceutical industry in United Kingdom which affects
their wealth, reputation, profitability and brand integrity within the market space. This paper will
highlight various challenges that have been faced by the pharmaceutical industry with the live
example of Pharmacy Company. The study also describes the best practices that have been
utilized in order to sustain the brand image in front of their competitive firms.

INTRODUCTION
Corporate social responsibility represents the proposal of the firm in order to fulfil its
accountability towards the public and surroundings. To become a part of the CSR activities,
organizations begin dissimilar performances such as pollution reduction; devastate management,
causative capital for the health program, educational program and so on. CSR is presently not the
matter of choice for the firm but a necessity to adopt such activities into the working of the
establishment in order to fulfil responsibilities for the betterment of the organization. It is
basically is the incessant assurance by trade to act morally and make a payment towards
profitable expansion along with getting better the eminence of life of employees and their
families as well as of the limited centre of population and the world at large scale (Džupinová,
Z., 2019). The primary purpose to introduce CSR activities within the organization is to make
industry actions as well as the commercial traditions sustainable in three ways i.e. communal,
economic and ecological. Inefficiency of the government and demand for greater disclosure are
some key issues or challenges that have been faced by establishment. In order to fulfil CSR
activities responsibly within the pharmaceutical industry, practices needs to be taken which
include setting of measurable goals, sustainability management system and many more which
will be discussed in the below report. This study will highlight the concept of pharmaceutical
industry practices which increasingly turning to CSR in order to repair damages that has been
done by them unintentionally and thus boost the bottom line.
MAIN BODY
Pharmaceutical industry is the industry which completely focused towards the development
and production of medicines or drugs which are used for the medication purpose. The
organizations are mainly concerned with testing, producing and marketing of different medicines
in order to provide advantage for the people living in society. Pharmaceutical company is the
most vital part of the society. The industry produces most crucial and necessity commodity that
is required in the human lives and creates differences in the life and death of the people. Without
proper health, individual is unable to meet other requirements. The industry is comprises of
intellectual power as well as economic needs (Puhakka, V., 2019). With the help of various
powers, pharmaceutical industry is able to solve fitness issues and thus make the social order a
better place to live in with additional involvement of corporate social responsibilities towards the