Novo Nordisk Essay

1337 Words6 Pages
Novo Nordisk Novo Nordisk is a company headquartered in Denmark that manufactures and markets pharmaceutical products. They specialize in diabetes, but they also have products in blood clotting management, human growth hormone, and hormone replacement therapy. There are many different aspects of leadership that make it a long-term successful company. Their focuses beyond financials are big time contributing factors; without them, Novo Nordisk wouldn’t be the same. While servant leadership is present at Novo Nordisk in the sense that they want to have a positive impact on the community; I think that the dominant leadership style in this company is ethical leadership. There is no specific definition for ethical leadership, however, “many believe that ethical leadership is characterized by caring, honest, principled, fair, and balanced choices by individuals who act ethically, set clear ethical standards, communicate about ethics with followers, and reward as well as punish others based on ethical or unethical conduct” (Schermerhorn 323). Nordisk goes by the saying that responsible business is good business. Nordisk cares for others and wants to improve the life of those with diabetes. They take responsible steps to get there by teaming up with policy makers and social influencers to achieve their goal. Novo Nordisk’s ethical leadership style makes decisions based on their Triple Bottom Line. It balances three different considerations: Is it economically viable? Is it socially responsible? And is it environmentally sound? This makes sure that all the decision-making is balanced before anything is final. It is important to have a system like this because it gives you the opportunity to go through every aspect of a decision that can affect the whole company. The Triple Bottom Line is incorporated into their governance structures, management tools,
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