The Pfizer board of directors corporate governance committee charter requires directors to consider the perspectives of stakeholders in the company’s decision regarding current and emerging political, social and public policy issues. The board receives information about stakeholder perception and opinions by various means including the emails and phones calls Pfizer senior executives reports annual shareholders proposal and directors own personal and professional networks. Integrating there corporate social responsibility is not just updating data and meeting certain social responsibility codes it is about changing there behavior and resources allocation changing the way they operate communication and partner with stakeholder.
On a daily basis Pfizer corporate responsibility is managed globally by a team that is part of world wide public affairs and policy. The team is responsible for developing their corporate social responsibility report established Pfizer’s CR partnerships with various socially responsible investors nongovernmental and multilateral organization and coordinating with different global Pfizer functional and business areas. The team’s focus is to foster and support integration of CR throughout the company with a strong emphasis on stakeholder engagement. The team also serves as an internal and external bridge to foster communication for new ideas.
Founded in New York in 1849 is the world largest research based pharmaceutical company. Taking new approaches to better health, they discover develop and deliver innovative medicines to treat and help prevent disease in both people and animals. Through consistent high quality manufacturing and distribution operations, their medicines reach patients in more than 100 countries. They also partner with health care providers, governments, nongovernmental organizations, local communities and other stakeholder around the world to expand access to their medicines and to health system support. At Pfizer, their colleagues work every day to help people stay happier and healthier longer, and to reduce the human and economic burden of disease worldwide. their head quarters in new York they have 89,000 employees worldwide their line of business human health pharmaceutical, animal health pharmaceutical and vaccines, they operated in more than 100 countries and $ 48.4 billion in revenues, the world largest pharmaceutical company, $ 7.6 billion in research & development, 11 R&D therapeutic areas one of the world leading medicines lipitor which is a treatment for high cholesterol world largest health R&D investment ,$1.7 billion in Pfizer inc philanthropic contributions .
Stakeholders are people or group who effect, or are affected by, Pfizer business activities. They share with them an overarching goal good health for all people at manageable costs, and a healthcare system that is sustainable. Their relationships with stakeholder are at the heart of their corporate responsibility because they define what it means for Pfizer t creates value. That is why Jeff kindler, after being named CEO in July 2006, and the new senior management team met with a variety of stakeholder. They wanted to find out what was on stakeholder minds what worked well and what needed to strengthen. Some of the company’s new priorities and actions are a result of these discussions. Here are just some of the stakeholders their senior management met with in the past year like American heart association, American lung association, American medical