Economic responsibility and legal responsibility

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Reference no: EM132092552

Who are stakeholders in this situation? Rank them in importance 2. Economic Responsibility: What are the potential costs/benefits of such an investment? If a safe/effective drug could be developed, Merck’s recouping its investment was zero. Could Merck justify such an investment to shareholders and the financial community? What criteria would be needed to help them make such a decision? 3. Legal Responsibility: Is there any legal responsibility for Merck? Any legal penalty for not investing in R&D? 4.If Merck decided not to conduct further research, how would it justify its decision to its scientists? Would it affect employee loyalty? 5.Did Merck have an ethical obligation to proceed w/ developing the drug? What if the drug had only a small chance to cure river blindness? What if Merch was close to achieving a cure, or what if they were sure that they could achieve it? 6.How does Merck’s value system fit into this decision? “We try never to forget that medicine is for people. It is not for profits. The profits follow, and if we have remembered that, they have never failed to appear” 7.If you were senior executive of Merck, what would you do?

Reference no: EM132092552

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