Nordisk is a multinational healthcare company based in Denmark that nearly a century of experience as an innovative leader within the healthcare industry. The company specializes in a number of products within diabetes care, hemophilia management, growth hormone therapy, and hormone replacement therapy. Furthermore the company is attempting to extend its reach into treating a number of chronic inflammatory diseases (Eccles & Krzus, 2012). In order to address a number of social and environmental issues that affect the core activities of the company, the company has undergone initiatives to improve its standards and sustainability within the healthcare, labour, and energy efficiency areas.
The initiatives selected pertain to healthcare, labour and energy efficiency core activities.
The company founders started manufacturing diabetes medicines in 1923. In terms of healthcare, Novo Nordisk continues to be focused on expanding and maintaining its lead in the treatment of diabetes, hemophilia and other serious chronic conditions.
The company wishes to become a key contributor to the discovery and development of innovative organic medicines. This initiative is critical, as the treatment of chronic disorders is the majority of the revenue the company acquires; continued innovation in this field is required, as the company faces threats from low-cost global competitors based in developing countries where labor and resource costs are much than in Denmark. It performs while maintaining its quality by measuring in terms of inspection findings and conducting both quality and responsible sourcing audits, and also ensuring their accessibility to patients across all markets by establishing the World Diabetes Foundation in 2001 as well as the providing donation of DKK 69 million to the foundation in 2010.
For labour and related areas, Novo Nordisk focuses on lowering turnover rates, increasing business ethical training for its employees as well as lowering the amount of occupational...