¶ … CEO in question was personally responsible for the off-label marketing and yet it was the company that received penalty. In the readings I've done on the subject I've noticed that same trend -- penalties always fall to the companies rather than the people directly involved in the illegal market. A question arises from this. Does the lack of individual culpability lead some biotech companies to blatantly ignore FDA marketing regulations? They know that at worst the company will be penalized and they may be fired -- executives often will have already negotiated a golden parachute anyway. So the question is raised as to whether executive compensation encourages such marketing practices.
Excellent article. It seems that for most consumers, there is no inherent difference between pharma and biopharma. Ultimately, both industries often serve the same consumers and deal with the same problems. Yet it is perfectly reasonable that small biopharm firms would wish to disassociate themselves with big pharma. The question the article leaves unanswered, though, it what such a classification would look like. Where should such a line be drawn, on what grounds and for what purpose? These are key questions for marketing, since it is an issue of industry-wide branding.
Biotech firms need to ask themselves why they wish to be decoupled from pharmaceutical companies. They also need to ask what the benefits and costs associated with such a move are. Such a move may, for example, exacerbate the ongoing situation with respect to a lack of venture capital. A biotech firm is attractive to the extent that venture capitalists believe the firm can hit a home run. To an extent, decoupling from big pharma sends a signal to VCs that the biotech industry lacks those types of big league ambitions. This could be a major obstacle to rebranding biopharm, but the issue is an interesting one and well worth analyzing.
Understanding audience expectations and preferences. CEO Rebh is looking to grow his business and is likely interested in engaging a profitable transaction with a bike shop, given that he already has a relationship with Schwinn. I must be careful that he does not take advantage of me, and try to sell me advertising that could negatively impact my business because of its inappropriate nature or overly obtrusive installation. Forecast probable audience
Financial Accounting The question is missing a clause. "…is more conducive to ethical behavior" than what? The word "more" invites comparison but there is nothing to compare the current environment to. Well, the current environment is not much different than any past environment. The regulatory environment does not dictate ethics, as ethics exist distinct from laws. Ethical behavior rests on how society itself defines ethics, and is only loosely related to
Tim Cook "So let me be clear: I'm proud to be gay, and I consider being gay among the greatest gifts God has given me." APPLE CEO, TIM COOK (Brand, 2013) Tim Cook, the CEO of Apple since Steve Jobs passed away in 2011, has recently come out publically as gay. He is the first Fortune 500 chief executive to ever publicly state that he is homosexual. This will likely have some implications
Leaders Can Manage Change Transforming the Client Organization: From Transactional Management to Transformational Leadership Staying in step with customer and client needs is more than fulfilling their requests on a periodic basis and meeting their basic expectations, as any company that excels in client management understands. It is the ability to align every aspect of an enterprise to the needs and expectations, experiences and requirements of clients. Often internally-based organizations including those
Business Ethics -- Robert Nardelli Business Ethics: Robert Nardelli and Home Depot Robert Nardelli became CEO of The Home Depot in 2000, despite the fact that he had no retail experience (Grow, 2008). He had previously been in management at General Electric, and he brought the Six Sigma style he had used there over to the home improvement retailer with plans to overhaul the company and completely change the culture of it
Erikson Leading in Times of Change Erikson: Leading In Times Of Change The Leadership Style of Carl-Henric Svanberg The leadership style of Carl-Henric Svanberg can be explained in terms of the context of the leadership situation. Svanberg's appointment as CEO of Erikson was an unprecedented move in the history of the company because he was the first CEO to be brought in from outside the industry. This created some discomfort to people within
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