Mission and Vision Paper: Merck Company

Mission and Vision Paper: Merck Company

Merck is one of the world leaders in innovative pharmaceuticals, biomedical solutions, and advanced technologies and materials. It operates in four divisions: Merck Serono (prescription medicine), Consumer Health (over-the-counter pharmaceuticals), Performance Materials (high-tech chemicals), and Merck Millipore (products for pharmaceutical research and biotechnology). Merck was founded in 1668 and is now the oldest pharmaceutical and chemical company in the world. But it still promotes fundamentally new technologies for the benefit of its patients and clients. It is guided by the principles of corporate responsibility, respect, integrity, transparency, courage, and achievements. Merck employs about 40,000 people in 67 countries around the world.

The mission of Merck is “to provide society with superior products and services by developing innovations and solutions that improve the quality of life and satisfy customer needs, and to provide employees with meaningful work and advancement opportunities and investors with a superior rate of return.”

In my opinion, Merck’s mission statement is quite inspiring and makes readers feel that the company is successful, has direction, and is worthy of time, support, and investment. This mission statement is broad in scope, identifies the utility of a company’s product, and includes following nine components:

1. Customers. Merck believes that the success of the company starts with people. That it is why it strives to produce meaningful benefits to its customers and satisfy their needs. It can be clearly seen from the Merck’s mission statement that it values its customers and tries to provide all its customers with outstanding products.
2. Product or services.  The mission statement states that the company provides its customers only with superior products and services. It is good that it defines the quality of its product, but I think there should be some specifications: what exactly they produce (e.g. superior medicine). The reader should clearly understand what the company’s products are.
3. Markets. The mission statement of Merck does not define any specific geographical region where the company competes; it just states: “to provide society with…” – knowing the size of the company, it can be assumed that they mean world society.
4. Technology. One of the core values of Merck is continually developing innovations and solutions that improve the quality of life of Merck’s customers. This core value is clearly stated in the mission statement.
5. Concern for survival, growth, and profitability. I can understand from the mission statement that Merck is concerned with the constant growth and wish to secure an acceptable return on capital for its investors.
6. Philosophy. The basic believe of the company is that entrepreneurial success starts with people. That is why it strives to satisfy customers, provide employees with meaningful work, and insure good rate of return for investors. Merck values people.
7. Self-concept. The main competitive advantage of Merck is superior and innovative products and services. Merck has be one of the best pharmaceutical companies in the world since 1668; I think this fact really proves that its products are of outstanding quality comparing to the products of Merck’s competitors.
8. Concern for public image. There is no information about this characteristic in this mission statement.  But actually, Merck respect the cultural distinctions of all countries in which it operates. It also strives to achieve positive recognition for the company within the community. And it also respects environment.
9. Concern for employees. Employees are one of the core values of Merck. The management of Merck tries to provide employees with meaningful work and advancement opportunities. They expect a high level of performance from each other, and reward this accordingly.

Even though Merck’s mission statement includes almost all 9 necessary components of mission statement, I would add some specifications to that mission statement in order to make it more informative, inspiring, enduring, and motivating.