Yes, life sciences companies can make a difference
Can life sciences firms help developing nations? Naturally, I think the answer to this question is a resounding YES! and I was thrilled to have the chance to tell MassHighTech.
It was very interesting to read the opinions of the others interviewed in this article, most of whom disagreed that companies can do well and do good.
I am not suggesting that life sciences companies give away goods or services or even money to less fortunate people and thus undercut their bottom line. (Though certainly a degree of such philanthropy is always needed.) Rather, there are ways to structure a business that take social benefit into account. Is profit your only measure of success? Are there ways to conduct your research and development activities that involve people in your community? Who are your colleagues, collaborators and suppliers? Who do you bring into your talent development pipeline - only students from certain prestigious private schools or a wider pool of young people?
Consciously incorporating social benefit into your business from the ground up is about taking the long view. It takes foresight and a recognition of the impact that can be generated over years and decades. Surely life sciences companies, focused on improving lives already, cannot afford any other kind of planning.
