Strategic Philanthropy Project: Eli Lilly
Wylie Schweizer
Indiana University East
Eli Lilly and Company has been in business for 135 years. It was founded on May10, 1876 by Colonel Eli Lilly in Indianapolis, Indiana. It is a global research-based company. Lilly’s vision is to make a significant contribution to humanity by improving global health in the 21st century.
At Eli Lilly corporate responsibility is defined as the comprehensive efforts we undertake to help address a specific set of societal issues (Eli Lilly & Compnay, 2015). The Eli Lilly and Company Foundation is a tax-exempt private foundation established by the company in 1968. The Foundation awards cash grants for philanthropic initiatives aligned with the company's
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The geographic focus is Indiana, the site of Lilly’s corporate headquarters and largest R&D footprint. They have two primary areas of focus: improve student performance in science. Their primary commitment is in support of the Indiana Science Initiative (ISI). The ISI is implementing an inquiry-based hands-on curriculum in K-12 classrooms. This initiative, which includes professional development for teachers, is designed to excite children about the wonders of science and foster innovative, creative thinking. Also, to improve educational outcomes for underserved …show more content…
To further these traditions, the Foundation offers Lilly employees and retirees the opportunity to enhance their charitable giving within their communities by making available the following cash grant programs. Lilly Employee Matching Gifts Programs allow Lilly employees around the world to help determine how the Foundation will spend a portion of its philanthropic resources. Through the U.S. Matching Gifts Program, the Lilly Foundation assists many qualified U.S.-based, tax-exempt public charities by matching the gifts of U.S. employees and retirees to qualified educational institutions, cultural organizations and specific healthcare organizations. Additionally, the Foundation matches employee and retiree gifts to support human services organizations through an annual United Way
In the industry of long term care, corporate responsibility has a standard which is set by regulatory agencies and statutory requirements. This is an industry that is closely monitored by state surveyors to ensure compliance with state and federal laws including Office for Civil Rights standards. All long term care providers are held to the same standard; however, there is room to rise to a higher level of care. This “room to rise” area is where corporate responsibility plays a very important
Our textbook defines corporate social responsibility as “a business's concern for the welfare of society” (Nickels, 102) and that it “goes well beyond being ethical. It is based on a commitment to integrity, fairness, and respect” (102). By performing a social audit they can evaluate whether or not their policies and actions are actually providing the support they’re attempting to
Corporate Social Responsibility is the obligation from corporations to utilize their resources to aid and benefit the larger society. The four components of CSR are economic, legal, ethical, and philanthropic. Social Responsibility is a fundamental force in the wealth creation process. If correctly demonstrated, CSR should heighten competitiveness and boost the value of wealth creation to society. A company's CSR Initiatives directly represent who the company is and what it believes it. The m...
Grady Memorial Hospital is a nonprofit organization. It is the largest hospital in Atlanta, Ga.
An individual’s intellectual curiosity to gain knowledge of the unanswered questions becomes a catalyst for the advancement of a society. Mercer University’s undergraduate student research program challenges a student to discover the unknown and sets a foundation for growth in critical thinking. Unlike any other colleges, Mercer University provides opportunities to turn an imagination into a reality that benefits the lives of the people. Through the research program, I would like to contribute my passion in serving others in need by discovering ways to find a cure for childhood cancer and creating innovative ideas to help the lives affected by cancer.
Developing a successful planned giving program can be a complex undertaking.But it is one that is well worth the trouble.
Lilly Ledbetter Act is a law signed by congress on January 29,2009, that restored works protection on pay discrimination. Lilly Ledbetter Fair Pay Act allows individuals who face paying discrimination rectification under federal government of laws. It also helps women fight equal paying on discrimination on the paycheck of work. Presidential Obama passed the Lilly Ledbetter Act in 2014. After the Lilly Ledbetter Act passed, personally I feel women help in a workplace because women have the power to stand for their rights, changed the society, and right to have equal pay. (Fratti, Karen)
Threat of new entrants is relatively high. Companies forming alliances are potential rivals. Even if earlier such company was not considered to be a threat, after merging with some research and development company or forming alliance with another pharmaceutical company it would become a rival to Eli Lilly. The threat is however weakened by significant research and development costs necessary to successfully enter the business. Eli Lilly’s focus on a relatively narrow market of sedatives and antidepressants weakens the threat of new entrants, but other products that form lesser part of company’s sales such as insulin and others are exposed to high threat of new entrants. The need of obtaining certificates and licenses also weakens the threat of new entrants. Discussed above leads to the conclusion that threat of new entrants is medium.
Ilhan (2013) contends non-profits have gradually become excellent instruments for the promotion of a variety of objectives including, but not limited to charities, religious organizations and associations that provide support to individuals suffering with different types of diseases (p. 132). Within these tax-exempt organizations, there are several different classifications which differentiate these organizations. For instance, non-profit organizations are characterized as being either publicly supported charities, public safety charities, supporting organizations or private foundations. Publicly supported charities can range from schools and hospitals to religious organizations that may obtain the support of the public support mainly through donations, grants and contributions from the public. Supporting organizations are organizations that are important within public service. These organizations may not be not publicly supported; however, they are closely linked with non-profit organizations that are supported publicly. For example, hospital foundations or hospitals that are created to support schools would be considered as supporting organizations. Public safety charities are exactly what the name states. This form of organization is devoted to testing for and the promotion of public safety. Examples of this form of charity can be the American Red Cross’ cardiopulmonary resuscitation (CPR) classes that are offered to citizens. Many private foundations grant revenue to public charities. A good example of this form of foundation can be seen in the United Way. This tax-exempt organization allows the public to contribute to the funds that are offered by this organization so that the grant making programs within can be f...
An organization’s Corporate Social Responsibility (CSR) drives them to look out for the different interests of society. Most business corporations undertake responsibility for the impact of their organizational pursuits and various activities on their customers, employees, shareholders, communities and the environment. With the high volume of general competition between different companies and organizations in varied fields, CSR has become a morally imperative commitment, more than one enforced by the law. Most organizations in the modern world willingly try to improve the general well-being of not only their employees, but also their families and the society as a whole.
According to the Eli Lilly SEC filing, “Promotion, marketing, manufacturing, and distribution of human pharmaceutical and animal health products are extensively regulated in all major world markets.”17 In fact, in most major markets, all operations of the company are extremely regulated all at the expense of the company including Federal Drug Administration, U.S. Department of Agriculture, U.S. Environmental Protection Agency, European Medicines Agency, Ministry of Health, Labor and Welfare, Department of Health and Human Services, Federal Trade Commission, Office of Personnel Management.
Waldman, D., Kenett, R. S. and Zilberg, T. 2010. Corporate Social Responsibility: What it really is, Why it’s so important, and How it should be managed. School of Global Management and Leadership, Arizona State University.
The case under analysis, Eli Lilly & Company, will be covering the positives and negatives with regards to the business situation and strategy of Eli Lilly. One of the major pharmaceutical and health care companies in its industry, Lilly focused its efforts on the areas of "drug research, development, and marketed to the following areas: neuroscience, endocrinology, oncology, cardiovascular disease, and women's health." Having made a strong comeback in the 1990's due to its remarkably successful antidepressant Prozac, was now facing a potential loss in profits with its patent soon to expire. The problem was not only the soon to expire patent on Prozac, but the fact that Prozac accounted for as much as 30% of total revenue was the reality Eli Lilly now faced. (Pearce & Robinson, 34-1)
While the concept of an individual having responsibility is commonly recognized, modern views have lead to the emerging issue of corporate responsibility. Business Directory.com defines corporate social responsibility as, “A company’s sense of responsibility towards the community and environment (both ecological and social) in which it operates. Companies express this citizenship (1) through their waste and pollution reduction processes, (2) by contributing educational and social programs, and (3) by earning adequate returns on the employed resources.” But such a concept has been much disputed since at least the 1970’s.
A company has an economic obligation. It must earn a favorable return for its stockholders in the restrictions of the law. But, corporate social responsibility means that organizations have also ethical and societal responsibilities that go past their economic responsibilities. CSR needs organizations to develop their documentations of their responsibilities to include other stakeholders such as workers, customers, suppliers, local societies, state governments, international organizations, etc. Ethics could be seen as a fundamental component of individual and group activities at the heart of organizations’ errands.