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Responsibility in the Marketplace

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By: Michael Barbella

Managing Editor

Medical device companies are in the business of helping people and improving healthcare outcomes. But in the day-to-day effort to deliver safe, reliable and economical medical devices that adhere to regulatory and quality control requirements, efficient manufacturing processes, and speed to market expectations, it can be easy to lose sight of the big picture.

By promoting and actively engaging in community stewardship, medical device companies help keep their mission and visions at the forefront. At the same time, they also demonstrate to the marketplace that they are committed to operating responsibly in all facets where their business intersects with society.

Factors to Consider When Implementing or Expanding Good Corporate Citizenship Initiatives

1. Vital signs. Check the pulse of your company. What resonates within your company’s culture? What issues or organizations do they care about supporting?

2. Peer influence. Look at what peers are doing. Are there opportunities to align with them?

3. Budget. Is there room in your budget to sponsor events or community-building
activities? If not, consider establishing a Corporate Citizenship committee to brainstorm and coordinate free community-building initiatives such as canned-food drives, a once-a-month volunteer day, or an adopt-a-charity initiative.

4. Recognition. How will you recognize your employees and your company’s good corporate citizenship? Consider using your corporate newsletter, blog posts, and
annual report to highlight your community involvement activities—and remember to include pictures.

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