Merck was at the top of the pharmaceutical market for many years. The company made substantial profits almost every year. Not only were they a company that made money but they also made their financial gains in an ethical manor. Fourton magazine even named them the “most admired” company. But in 2004‚ the company would be faced with major challenges that would threaten to end the company’s existence. Their once best selling painkiller Viol had been recalled by the federal government because the drug
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Why managerial performance appraisals are ineffective: causes and lessons Clinton O. Longenecker Graduate School of Management‚ The University of Toledo‚ Toledo‚ OH‚ USA Claims that‚ in the quest for competitive advantage‚ modern organizations are making increasing demands on their change managers. Questions what organizations are doing to help managers develop the skills necessary to operate in a rapidly changing work environment. Suggests that systematic management development efforts at
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In an effort to mitigate some of these challenges‚ the Government of Kenya (GOK) has in the past launched several reform programs to improve service delivery. Some of these reform efforts include the Civil Service Reform Program (CSRP) (GOK‚ 1993) whose aim was to enhance public service efficiency and productivity. The program was designed to contain costs‚ improve performance in the public sector‚ and consolidate and sustain the gains made by reform initiatives (Opiyo‚ 2006). The other reform
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Evaluating Merck & Co.‚ Inc vs. Pfizer‚ Inc. Amy Lan Lan Liu Connor Buestad Raghul Subramanian Natalia Cosa ACCT 831 March 16‚ 2011 Table of Contents: Part 1: History‚ Background and Core Business …...................................................................2 a. Merck & Co.‚ Inc. ….............................................................................................................. 2 b. Pfizer
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Wages and Salaries An extensive review of the literature indicates that important work- related variables leading to job satisfaction include challenging work‚ interesting job assignments‚ equitable rewards‚ competent supervision‚ and rewarding careers. It is doubtful‚ however‚ whether many employees would continue working were it not for the money they earn. Employees desire compensation systems that they perceive as being fair and commensurate with their skills and expectations. Pay‚ therefore
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Questions for the Merck Case Create a decision tree for Merck. The 2 leftmost branches would identify the alternatives related to licensing Davarink (specifically license versus not to license). Next‚ if Merck decides to pursue license‚ they go into phase I which results in a success‚ or failure. Phase I success is followed by phase II where Merck has the opportunity to develop the drug to treat depression alone‚ weight loss alone‚ or both‚ or contemplate phase II failure. Finally phase
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CEO Ray Gilmartin Merck’s CEO Ray Gilmartin is a significant stakeholder in the company. Since a lot of Mercks’ products patents will be expiring in the next few years Gilmartin put a big emphasis on investing into the companies research and development of new products. Gilmartin wanted this company to really focus on coming out with new products because their bottom line was going to take a hit in the next few years once the patent on their big money products runs out. Gilmartin found it an
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address Performance Appraisal Bias? by Jerry Lane Silmon A Research Paper Presented in Partial Fulfillment of the Requirements for Human Resource Development Texas A & M University MAY 2010 © 2010 BY JERRY LANE SILMON ALL RIGHTS RESERVED TABLE OF CONTENTS How can Human Resource Development address Performance Appraisal Bias? 1 Integrity of the System 1 Leadership 2 Feedback and Communication 3 Forced Ranking 4 Values 6 Clear Goals and Objectives 7 Alignment 7 Performance Coaching
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Facts * This negotiation was an important one from a career point of view as it involves a salary negotiation for an existing job. I have never been in a situation where I have actually negotiated a salary for a person working under me‚ so it was a good experience for me. I was playing the role of Pat Lynch‚ V.P. of marketing for Rapid Leatherhead Goods Company. There are 4 main product lines which comprise the major portion of the company’s online sales. A new director for marketing was hired
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knowledgeable enough to perform well in executive positions. That makes the ones that are‚ a hot commodity. Thus allowing them to demand the high pay that they earn. When the public sees a salary that they consider to be too big‚ they are usually looking at only half of the picture. It is impossible to look at just the salary‚ without taking any other factors into consideration. One must look at the amount of earnings‚ compared to the profits of the company. Most jobs are clear-cut. A person has a designated
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