It is undoubted that most successful firms have failed to compete with the entrant firms because of the disruptive technology. The new technology will make the existing technology to be useless and redundancy. The first issue about failure of some successful firms is their laggard technology. It is obviously that the new technology always substitutes to the previous technology. Christensen and Rosenbloom (1995) has pointed out that with ‘the emergence of some new technological paradigm’, the prior technology of the incumbent firm is unable to compete with the capabilities of new technology paradigm,
Or alternatively sometimes a fifth stage is added in prior to the introduction termed development the pharmaceutical industry are likely to include a devlopment stage into their product life cycle as there is usually a significantly large amount of time spent on developing pharmaceutical products. The product life cycle is a much used but also much criticised model. ADD In Diagram of typical product life cycle. The introduction stage is characterised by uncertainty with the product and a product is often launched on a small-scale production and is usually very experimental and skill intensive. This stage sees few pioneer customers and growth of the product is slow due to buyer ignorance, uncertainty in industry standards and not enough buyers to demonstrate the product and start the bandwagon effect.
It could be argued that we instead invented a commodity that was not in the least necessary at the time, but then became necessary only because it had been invented. Tap water has been safe for many decades. Bottled water is no safer than water one could get from the tap. Not only is tap water just as healthy as bottled water, but the planet’s health may be suffering as a result of producing bottled water, for the production of bottled water causes carcinogenic elements to be loosed into the atmosphere. The production of bottled water is very damaging to the Earth.
It is clear that allowing pharmaceutical companies to act in their self-interest with less government regulation and controlled drug approval process the patients would benefit more. As Thomas Paine once said, “Society in every state is a blessing, but government, even in its best state, is but a necessary evil; in its worst state, an intolerable one.” Today in our society there are tons of people wishing and hoping that a new drug will be introduced that will help cure or assist with their diseases. The drug approval process simply takes to long and creates drugs that are completely overpriced to the point of where once they are finally released they can become unaffordable to those in need. It is clear through pharmaceutical consumer
Pfizer HR Analysis Introduction International Talent Literature has recognized the scarcity of talent faced by organizations making them realize the importance of existing staff retention [ (Deb T. , 2009) ]. Human Resources are predominant among the assets used for business development in an organization [ (Flamholtz, 1999) ]. Coming to the pharmaceutical industry, the industry is considered as highly innovative industry where knowledgeable, talented and skilled people are required to cope with the industry requirements [ (Garrett, 2008) ]. This is why the industry have been facing issues in the form of shortage of talent all over the world and global pharmaceutical companies are confronting concerns with regard to successfully inviting and engaging capable staff [ (Majumdar, 2009) ]. Not only issues regarding placements, the pharmaceutical companies also have to deal with succession planning challenges and should come up with mechanism for this in order to manage the adverse effects of scarcity of talent and skills over the organization [ (Russell Reynolds Associates, 2013) ].
Ads use marketing tactics to create the false impression that they are educating the public. On the other hand, these ads actually give little knowledge of all the relevant medical information about the product. Similarly, consumers misinterpret the intended use of prescription drug ads. Although DTC prescription drug advertisements increase sales revenue necessary to help research and development costs, prescription drug ads are intended to sell the product--like most advertisements. Pharmaceutical companies, for the most part, are for-profit businesses.
The Paradox of Technology There is no question that technological growth trends in science and industry are increasing exponentially. Many critics of technology believe that the rapid advancement of technological development, despite the benefits, has become in many ways detrimental to society and life. The study of genetics, molecular engineering and robotics is a few areas of technology that is advancing rapidly. The paradox of the 21st century technology is will our growth in technology benefit society or will it potentially destroy society. Gene therapy is a promising approach to the treatment of genetic disorders, debilitating neurological diseases such as Parkinson’s and endocrine disorders such as diabetes.
The competition of the pharmaceutical market and the management that can inflated their reported revenues by deliberately sending retailers along the distribution chanell more products than they were able to sell, could be the weakness of Biovail Corp. Biovail Corporation, was its expertise in the development and large-scale manufacturing of pharmaceutical products. It leveraged this expertise by focusing on enhanced formulations of existing drugs, combination products that incorporated two or more different therapeutic classes of drugs, and difficult to manufacture generic pharmaceuticals. Given the facts and information presented in the case, Biovail should have recognized the revenue following the FOB destination structure. However, Biovail recognized revenue as if it was operating under FOB shipping, probably in an attempt to boast revenue for the period. Under GAAP, revenue may be recognized on the sale of a product like Wellbutrin XL when, delivery of the product by the seller to the buyer has occurred.
Indeed, the CSD consumption have strated to decline, the industry have to face the emergence of non-carbonated drinks and also the awareness of the public about health. The stakes are changing for the market leaders, Pepsi and Coke. In order to understand the reasons why the CSD industry has been massively profitable and also the keys to success and the future of this so-called war, we will analyse it using different tools : the value chain, a SWOT analysis of the two companies and the Porter’s five forces. 1) The value chain - Blending raw materials and package the mixture are made by concentrate producers. - Adding carbonate and bottle and can actions are made by the bottlers.
A modern and dynamic name could attract more customers and add value to the hospital. The hospital is surrounded by ferocious competitors, which are known for their prestige and the incomparable services that they provide. Being unable to differentiate itself from its main competitors ruins its image, creates a confusion in costumer’s minds and results in making the image incapable to attract potential clients. St. Margaret hospital brand name issues One of the main issues that the hospital image has encountered is partly its brand name, which has to definitely change. As Mary advanced in the case, the name is old fashioned, therefore, it does not capture customer’s attention; it should rather be pertinent to the public.