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Lecture 4

MGM101H5 Lecture 4: CSR

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Department
Management
Course
MGM101H5
Professor
Dave Swanston
Semester
Fall

Description
MGM101 – Lecture 4 – Corporate Social Responsibility Milan CEO defends EpiPen cost to angry lawmaker  EpiPen ; steroid injection for people going through major shock, adrenaline for people with severe allergies  Increased price of Epipen by over $600 o How does this affect you as a shareholder?  Make more money  Affects public = more consequences  20% of Milans profits making Epipen a significant product for the company o Will shareholders care about ethics if it doesn’t affect their share price?  Important to know what the shareholders want  If shareholders are personally affected by this  Epipen controls 90% of the market shares for medicine o Governments regulating industry could affect everyone in terms of shares  How do people get away with this activity? o Sure, its fine now but once it makes the news all shareholders will be put at risk o Affects demands for shares if you decide to act in an unethical manner; other people might not want to invest in market due to the increased risks  Only a small % actually makes the market but when it does get sold, you take care of all the pricing required to cover this drug? o If one is a wealthy individual do they care? Will it affect them?  Governments are very involved in research, because they are focused on what will create a revenue for them  Would you want your family to know about this if you the CEO? Think about how this could affect your personal life as well  There are many examples of this happening all over the world Corporate Social Responsibility  An important part of management  As a manager, you have to make decision. The criteria you chose to make decisions will lead to responsible decision making  Companies operate in a dynamic environment
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