Strategic Corporate Social Responsibility and Orphan Drug Development: Insights from the US and the EU Biopharmaceutical Industry

Bruyaka, Olga; Zeitzmann, Hanko K.; Chalamon, Isabelle; Wokutch, Richard E.; Thakur, Pooja

doi:10.1007/s10551-012-1496-y

Cited by 33 publications

(22 citation statements)

References 54 publications

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“…An emerging body of practice‐oriented literature describes how companies engage in strategic corporate responsibility, using CSR practices as their strategic drivers (Dahlsrud, ; McWilliams et al, ; Orlitzky et al, ; Peloza & Shang , Bruyaka et al, , Acquier et al, ).…”

Section: Theoretical Backgroundmentioning

confidence: 99%

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Managing a Company Crisis through Strategic Corporate Social Responsibility: A Practice‐Based Analysis

Vallaster

2017

Corp Soc Responsibility Env

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A growing number of companies focus not just on generating economic value but on expanding their perspective, including social, human, and environmental aspects. Historically, companies mainly included corporate social responsibility (CSR) in their activities in economically promising times. But can CSR be applied in economically difficult times, too, as a potential strategic mechanism to recover from a company crisis? This study aims to advance understanding of strategic CSR and crisis recovery, and their possible relationship. The case study's findings suggest that strategic CSR can have a positive impact on crisis recovery and promote the revision of established practices required to manage a company crisis. The findings have relevance to companies seeking to innovate in the CSR space, to social entrepreneurs, and to researchers and practitioners interested in these topics. means that employees are not only informed but also have the potential means to influence decision making. This degree of participation is critical; it influences the success of projects (Steurer et al., 2005), including the crisis management projects in our case, and thus can provide a 'win-win' situation for employees.Unfortunately, business democracy in the context of strategic CSR has not received the required research attention. Democracy within companies often entails just basic democracy, such that all employees can influence the entire organization, which might lead to paralysis. Better methods to engage employees in a democratic way can still enable the company to recover from crisis, such as meetings that adopt world-café or open-space options and high degrees of self-organization in the workplace. The results of these efforts include clearer, more direct communication paths and a stronger focus on teamwork, which ultimately lead to out-of-the-box thinking and stronger internal networks. Improved social structures also can enhance the development of social innovations in organizations, as related capabilities get learned and shared through social contexts when people meet and spread knowledge, skills, and information (Schreyögg & Kliesch-Eberl, 2007). Such empowerment and democratization or what Zwetsloot and Allegro (1994) and Zwetsloot (2005) call involvement and participationtogether with communication and cooperation can enable organizational learning processes in line with corporate social responsibility practices.Degree to Which the Project Creates Stakeholder Engagement PECO International deepened its contacts with local and regional partners. To intensify the degree of stakeholder engagement, it used networks, communication platforms, and direct collaborations. These forms of cooperation helped expand its current knowledge; allowed the various partners to benefit from one another's know-how and services; and created better interactions with (and thus better understanding of) the external environment, including suppliers, distributors, customers, and the local community. Stakeholders offer crucial information about product...

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Section: Theoretical Backgroundmentioning

confidence: 99%

“…While an emerging body of research describes how companies engage in strategic CSR, making related practices and efforts part of their strategic positioning (Bruyaka et al , ; Acquier et al , ), the literature includes less information about how companies navigate and recover through strategic CSR in difficult economic times.…”

Section: Introductionmentioning

confidence: 99%

Managing a Company Crisis through Strategic Corporate Social Responsibility: A Practice‐Based Analysis

Vallaster

2017

Corp Soc Responsibility Env

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“…Pharmaceutical companies may consider that working with reduced profitability to serve society (as can be the case for ODs) may allow them to achieve a competitive advantage in the long term if done with a strategic orientation of corporate social responsibility [79] .…”

Section: Societal Participation In Producing Odsmentioning

confidence: 99%

Reimbursed Price of Orphan Drugs: Current Strategies and Potential Improvements

Mincarone

Leo²,

Sabina³

et al. 2017

Public Health Genomics

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The pricing and reimbursement policies for pharmaceuticals are relevant to balance timely and equitable access for all patients, financial sustainability, and reward for valuable innovation. The proliferation of high-cost specialty medicines is particularly true in rare diseases (RDs) where the pricing mechanism is characterised by a lack of transparency. This work provides an overall picture of current strategies for the definition of the reimbursed prices of orphan drugs (ODs) and highlights some potential improvements. Current strategies and suggestions are presented along 4 dimensions: (1) comprehensive value assessment, (2) early dialogs among relevant stakeholders, (3) innovative reimbursement approaches, and (4) societal participation in producing ODs. Comprehensive value assessment could be achieved by clarifying the approach of distributive justice to adopt, ensuring a representative participation of stakeholders, and with a broad consideration of value-bearing factors. With respect to early dialogs, cross-border cooperation can be determinant to companies and agencies. The cost-benefit ratio of early dialogs needs to be demonstrated and the “regulatory capture” effect should be monitored. Innovative reimbursement approaches were developed to balance the need for evidence-based decisions with the timely access to innovative drugs. The societal participation in producing ODs needs to be recognised in a collaborating framework where adaptive agreements can be developed with mutual satisfaction. Such agreements could also impact on coverage and reimbursement decisions as additional elements for the determination of a comprehensive societal value of ODs. Further research is needed to investigate the highlighted open challenges so that RDs will not remain, in practical terms, orphan diseases.

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“…The "CSR -reputation" relations were studied in the context of 1) strength and positive orientation (the more improved CSR, the higher the reputation) (Kim, 2017;Aguilera-Caracuel & Guerrero-Villegas, 2017). 2) the extent and diversity of applied CSR activities (identification of critical CSR for the formation of reputation for certain audiences) (Bruyaka et al, 2012); 3) the recommended mode of CSR activities application in various business conditions (Aramburu & Pescador, 2017;Hogarth et al, 2016). Because of the applied research, reputation's positive dependence on CSR is proved, and this article proceeds from preliminary proof of such positive relations.…”

Section: Literature Reviewmentioning

confidence: 99%

Reputation stability vs anti-crisis sustainability: under what circumstances will innovations, media activities and CSR be in higher demand?

Derevianko

2019

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Research background: The difference of war and peace can help gain an under-standing of the differences in the management of a company's reputation in terms of its stability as compared to the state of a reputation crisis. The question of practical confirmation, which is left open, is whether there is a positive correlation between the anti-crisis activity of the reputation management system and its stability in a long-term perspective, or whether these two factors are inversely related. Purpose of the article: This research is essentially aimed at studying the impact of innovation activity, media activity, and corporate social responsibility on reputational stability as well as on anti-crisis reputational sustainability. Methods: Indicators of innovation activity, media activity, corporate social responsibility, reputational stability, and anti-crisis reputational sustainability were collected in a sample of the most frequently mentioned in the media leading companies of the Ukrainian economy (N = 315), using an online survey done among 110 industry experts within the framework of the Reputation ACTIVists All-Ukrainian Ranking of Corporate Reputation Management Quality over February-March'2019 period. Structural equation modeling (SEM) in using the maximum likelihood estimation method was applied to examine the associations between above-mentioned indicators, according to the aim of the study. Findings & Value added: The results of our study revealed: 1) the existence of a significant correlation between CSR and reputational stability; 2) innovative and media activity are the most significant variables to provide anti-crisis sustainability; 3) CSR is less important for ensuring anti-crisis sustainability than for maintaining reputational stability; 4) anti-crisis sustainability is significantly more dependent on media activity than reputational stability is. By better understanding the roles of innovation activity, media activity, and corporate social responsibility, the company’s management in Ukraine can leverage the results of the study to improve reputation management performance, differentiating approaches in circumstances of a crisis and stability.

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Strategic Corporate Social Responsibility and Orphan Drug Development: Insights from the US and the EU Biopharmaceutical Industry

Cited by 33 publications

References 54 publications

Managing a Company Crisis through Strategic Corporate Social Responsibility: A Practice‐Based Analysis

Managing a Company Crisis through Strategic Corporate Social Responsibility: A Practice‐Based Analysis

Reimbursed Price of Orphan Drugs: Current Strategies and Potential Improvements

Reputation stability vs anti-crisis sustainability: under what circumstances will innovations, media activities and CSR be in higher demand?

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