Merck’s Risky Bet on Research
While Kenneth Frazier worked liability suits for Merck, he caught the company’s attention and they hired him in 1992. By 1999 Frazier was appointed Merck’s general counsel. Merck saw that Frazier had several good personality traits and values that would benefit their organization. Kenneth Frazier is a very hard-working man and has been taught not to fail and to push himself to excellence. Frazier has always pushed himself to always do better, he has never just settled. Frazier likes to take risks to see how far he can push himself and to see what he can accomplish.
Frazier has a very high self-esteem and a need for achievement. Under the five big personality traits, Frazier best fits under openness to experience. He is willing to take risks and is daring and open minded. I believe one of the most important terminal values to Frazier is a sense of accomplishment. Even though, there are several terminal values that I believe are important to Frazier, I feel this is the most important. Frazier lost his mother at a very young age and was raised by his hard-working father. His father taught him to work equally as hard and to always strive for excellence.
Frazier believes that at work he should never back down and always strive for more, and that you must work hard to accomplish everything you want. This especially showed when Merck found their drug Vioxx was doubling the risk of heart attach and strokes and Frazier fought each case instead of taking the easy way out and negotiating settlements. Frazier won 11 of the 16 cases. Frazier was determined to win and he did. Frazier gets pleasure from achieving his goals and enjoys the social recognition that he gets by winning his cases. Instrumental values are just as important as terminal values.
The most instrumental value that stands out in Frazier is his ambition. Frazier is not only hard working but understands what it takes to achieve his goals. A few of the other instrumental values that I feel are important to Frazier are being responsible, polite, and daring. Working as a litigator or in management you will not always be liked. At times people will go against you and not agree with what you are doing. Frazier is daring as he goes against others but when he must go against others he does it respectfully and politely so he can get others to take his side and agree with him.
Frazier has some very important personality traits that will help him influence Merck’s culture in his role as CEO. Frazier’s openness to experience gives him the ability to have an open mind and the ability to take risk that will allow him to move the company forward. Frazier also has the ability as CEO to mentor other managers to achieve the company’s goals. After watching Frazier handle some of Merck’s liability suites, the company decided that Frazier would be a valuable asset. Merck could see that Frazier had some very important personality traits that could benefit their company.