Stay Healthy Pharmaceuticals is a multi-million dollar firm that has recently discovered that it's one step behind its competitors in all developments of new drugs. Since the company's survival and success in this industry is dependent on the number of successfully developed new drugs, it has research scientists who work in teams in the process of developing such drugs. While every research scientists' team is committed to the success of its own drug project, the company has noted that these teams have become very competitive with each other.
Based on the analysis conducted by the company's upper management, the stiff competition among the various research teams has reached a destructive level. As each team has begun hoarding information and knowledge that could be beneficial to other teams, the competition appears to be stifling the company's research. This stiff competition between the teams is also lessening the quality of decision-making and slowing down the firm's drug development process. As a result, there is need to develop a program that will improve the quality of decision-making and establishment of healthy competition between various research teams in the company.
Improving Decision-making and Coordination at Stay Healthy Pharmaceuticals:
With the destructive outcomes of competition among the various research teams at Stay Healthy Pharmaceuticals, it's important to improve the quality of decision-making through a program that consists of the following necessary steps:
Establishment and Application of Workplace Code of Ethics and Practice:
While there is not set of perfect guidelines for success, improvement requires self-reflection and hard work to embrace new habits ("Guidelines to Improve," 2005). Due to the importance of new drugs development process, the company continued to rely heavily on its research teams in order to survive and succeed in the industry. According to an analysis on Stay Healthy Pharmaceuticals, this continual dependence on the research teams without a standard code of ethics and practice to govern their workplace activities resulted in strict competition. The first step to improving the quality of decision-making in the firm is the establishment and application of code of ethics and practice that govern all employees in their activities.
In addition to containing other guidelines, the code of ethics should have regulations that are geared towards preventing the hoarding of necessary information and knowledge. With a standard code of ethics and practice, the company's employees would know how to conduct themselves and avoid competition against each other during their drug development processes. Additionally, each research team should have comprehensive and clear guidelines of its duties and responsibilities. The standard code of ethics should also contain policies and procedures which ensure that employees conform to the organization's expectations.
Setting-up a Consultative Committee:
In order to widen the scope of continual decision making within the workplace, it's important for the company to set up a consultative committee to oversee the rolling out of projects ("Workplace Consultation," n.d.). The consultative committee should be comprised of both the organization's management and representatives of employees to work and deal with the existing employee participation issues i.e. competition and slow drug development process. The committee would be instrumental in helping the various research teams to provide feedback, ideas and suggestions on how to find a solution to the problem.
Furthermore, a consultative committee will act as the organ that will develop disciplinary actions against team members who promote competition and hoarding of information and knowledge. The consultative committee also acts as the formal mechanism with which employees' views are shared and taken into account. Given that the various research teams are the bodies involved in competition that is negatively impacting the company, their views on how to avoid the impasse are critical.
Through the consultative committee, these research teams would find a platform with which to share their views, ideas and suggestions regarding the problem. The consultative committee provides cross team participation through team leader meetings and informal discussion sessions. Apart from providing a forum for employees to share their views, ideas, and suggestions,...
Significance of the Study This study is significant because it sheds light on a very important contributor to local and international trade. Trade fairs have a long history in providing a meeting place for buyers and sellers. They are an important channel of communication for B2B buyers and sellers. This is a significant area for study because there are limited channels of communication between B2B buyers and sellers. The previous sections
Pharmaceutical industries have to operate in an environment that is highly competitive and subject to a wide variety of internal and external constraints. In recent times, there has been an increasing trend to reduce the cost of operation while competing with other companies that manufacture products that treat similar afflictions and ailments. The complexities in drug research and development and regulations have created an industry that is subject to intense
While Cadbury was initially vulnerable resulting in this take over, Kraft had to borrow heavily to afford the final price of 850p per share. In the coming months and years, Kraft will have to balance against recovering the money put into this acquisition (Wiggins, 2010). A risk, many British politicians and citizens alike fear will mean the end of their signature chocolate in an effort by Kraft to increase
NAFTA Historical Beginning of NAFTA (with specific bibliography) NAFTA Objectives What is NAFTA The Promise of NAFTA NAFTA Provisions Structure of NAFTA Years of NAFTA (NAFTA not enough, other plus and minuses).. Environmental Issues Comparative Statements (Debate) NAFTA - Broken Promises NAFTA - Fact Sheet Based Assessment NAFTA & Food Regulation NAFTA - The Road Ahead NAFTA in Numbers Goal Fulfillment Major Milestones Consolidated Bibliography This study set out to examine the inner workings of the North American Free Trade Agreement. The aim of this study is
Governments in these developing countries also may have issues with foreign companies expanding within their borders. Lastly, establishing local suppliers, and the infrastructure required for these suppliers, may be a challenge, especially for those they develop from the ground up. Strategic Posture: Nestle's mission statement is simple. "Good Food, Good Life'. That mission is to provide consumers with the best tasting, most nutritious choices in a wide range of food and beverage
Figure 1 portrays the state of Maryland, the location for the focus of this DRP. Figure 1: Map of Maryland, the State (Google Maps, 2009) 1.3 Study Structure Organization of the Study The following five chapters constitute the body of Chapter I: Introduction Chapter II: Review of the Literature Chapter III: Methods and Results Chapter IV: Chapter V: Conclusions, Recommendations, and Implications Chapter I: Introduction During Chapter I, the researcher presents this study's focus, as it relates to the
Our semester plans gives you unlimited, unrestricted access to our entire library of resources —writing tools, guides, example essays, tutorials, class notes, and more.
Get Started Now