International Business Analysis Project Research Paper

International Business Analysis Project - Research Paper Example According to Busfield (2006), the total worldwide sales of pharmaceutical products in the year 2003 amounted to $ 466 billion (10). It is necessary to note that the usage of prescription medicines globally is on the increase (Blume 1992). All the leading pharmaceutical multinationals, including Glaxo Smith Kline, have head offices in all advanced societies; and their worldwide presence is on the increase (Berg, 1997,). The challenges driving down revenues from the blockbuster strategy to 5% are recognized: declining R&D (Research and Development), rising expenditures of commercialization, augmenting payor influence and shorter exclusivity terms. The pharmaceutical industry has traditionally used the blockbuster approach to develop new drugs, despite numerous challenges of this approach (Williams et. al., 2008, p. 845). Using this approach, some prospective drugs may fail and when their costs are factored in, the actual cost of discovering, developing, and launching new drugs overly i ncreases (McKeown 1976). Publishing arm of a consultancy firm forms the basis of this report and audience are expert in the pharmaceutical field. Challenges of the model The model structure is provided in the diagram below revealing the requirements of the model. The challenges of the model are viewed as the enslaving factors in the pharmaceutical industry. ... vironment for pharma companies has transformed dramatically in the recent past; however, the founding model has not kept the pace thus posing challenges to emerging pharmaceutical companies. The declining research and development (R&D) productivity, increasing costs of commercialization, shorter exclusivity periods and augmenting payor influence have increased the mean expenditure per a successful introduction to $ 1.7 billion and decreased average expected profits on novel investment to the indefensible level of 5%. The challenges has presented predicaments that mergers created will not improve profitability. This forces pharmaceutical organizations to require fresh business models that fit the new environment. The model presents major challenges to all but the three largest organizations; GlaxoSmithKline PLC, Pfizer Inc., and Merck & Co. Inc. the choice is comparatively desolate: with little resources to drive primary care commodities and to venture in the arms race in sales & mark eting, and research and development project (R&D), they will probably be driven faster to replace their blockbuster-based models (Moncrieff 2002). Market worth is shifting previously to some smaller actors that have embraced new models. The effects of model dilapidation have been seen in many pharmaceutical organizations. According to Busfield (2006), pharmaceutical companies get most of their revenue from patented drugs, with most patients lasting for a period of up to 20 years. In 2003, for instance, The US pharmaceutical market, including of six of the peak 10 pharmaceutical corporations, accounted for ‘just under half of the world’s revenue, (Busfield 2006, p. 3).’ The other four companies were based in Europe. Despite the importance of this industry in the world, companies in

The first paper will be an individual evaluation of the importance of Essay

The first paper will be an individual evaluation of the importance of being a learned person in a 21st century socioeconomic soc - Essay Example The words is normally used for individuals holding bachelors, masters and PhD degrees but have varied knowledge in other important subject matters of society. This is differed from an educated person who depicts characteristics like having a college or high school diploma. The educated person displays civilized behaviors representing his or her stay at school. The educated individual understands the moral civic and social responsibilities. In simple terms, they hold some unique capabilities that uneducated individuals do not have. Society usually consists of both of these individuals and the uneducated people. This essay therefore, seeks to explain the role of critical thinking and being a learned person in the society. It focusses this on commerce in a society with modern technology. Critical thinking is an integral characteristic of a learned person. Being a leaned individual in a society comes with numerous responsibilities. Learned individuals are regarded as the light of the soc iety and their opinion counts in every issue affecting society. These include opinions on technology, politics, philosophy and commerce. The definition of critical thinking is the intellectual practice of conceptualizing, scrutinizing and applying skills as a framework to action and belief. It includes analyzing the sources of information too. In its unique form, it bases on conventional values that govern subject matter divisions. This definition is important since society includes different fields and subject matter that are of contention. This as a character of learned individuals improves society’s understanding of these contentious issues. Critical thinking is totally different from being augmentative. It also does not mean the character of criticizing fellow individuals in society. In a modern society, critical thinking abilities are used in revealing bad reasoning and fallacies. The economy in a society is a main issue that requires critical thinking to enhance. Critic al thinking plays the important part in constructive task forming and cooperative reasoning. Through these characteristics, the commerce in the society grows. Commerce is a section of any business that concerns itself with exchange of goods and services (Dyer 5). This entails all the direct and indirect activities that facilitate the exchange. In a modern society, commerce gets enhancements from over the edge technology. The development of technology cannot be attributed to any other thing that learned individuals. Through critical thing, the learned individuals develop new ways of making business more efficient and faster. They develop new accounting methods, business development strategies and future research. Learned individuals in the field of computer science have such technological tasks in the society. Critical thinking helps the society to strengthen existing arguments on commerce, acquire knowledge and improve theories. This is achievable through initiation of learned perso ns in the field of business and commerce. The society employs critical thinking to improve work practices and progress social organizations. The society consists of populations with wants. These include secondary and basic wants, which are never ending. Social welfares are promoted in the society through commerce. This is to the sense that the innumerable wants of people in the society are met. For this wants to be met critical thinking is