Corporate Ethics in Action: Merck vs. Enron

現在読んでいる本の中で企業倫理の話題に触れている部分があり、その中で対照的な2つの企業の例が挙げられていました。一つは、高い倫理性を持つ企業の代表格ともいえる米国製薬大手のMerck、もう一方は不正会計が原因で倒産した米国エネルギー会社のEnronです。

【English】

When we talk about corporate ethics, Merck, a major U.S. drug company, is known for its strong ethical leadership.  In the 1980s, Merck developed a drug to treat river blindness—a disease that caused blindness in millions across Africa and Latin America. Despite the lack of commercial viability, Merck chose to provide the drug free of charge. Their reasoning was simple: if people were suffering, it was their responsibility to help.

This decision was not driven by short-term profits, but by a deep commitment to human welfare. Merck’s action became a landmark example of how a corporation can prioritize moral responsibility over financial gain. Decades later, the story of Merck’s ivermectin initiative still stands as a benchmark for ethical decision-making in business.

The case of Enron stands in sharp contrast. Once celebrated as a rising star in the energy sector, Enron collapsed in 2001 under the weight of a massive accounting fraud. Through complex financial maneuvers, Enron’s leadership concealed billions in debt while painting a false picture of profitability. While executives walked away with fortunes, employees lost their life savings, and investors were blindsided. The scandal shook public trust in corporate governance and led to major regulatory reforms, including the Sarbanes-Oxley Act.

These two stories—Merck’s compassion and Enron’s deception—illustrate a crucial truth: ethics are not a soft issue in business. They are the foundation of sustainable value.

Ethical companies are not those that never face dilemmas, but those that choose integrity when it matters most. In an age where transparency and accountability are increasingly demanded by consumers and investors alike, companies must look beyond compliance to earn lasting trust.