LD9737/HR9737 Leadership and Management Assignment
Introduction(Leadership and Management)
Leadership and Management are gaining utmost importance and consideration in the modern corporate scenario (Ozieranski, Rickard, & Mulinari, 2019). This is because these two terms make the essence or combine to form the most integral part of an organisation. Hence, the present report aims at shedding light on the significance as well as the role of leadership and management in the present corporate scenario.
For this purpose, the report analyses the key challenges and issues faced by the Pharmaceutical and Healthcare industry, based in the United Kingdom. The report also emphasises on the leading pharmaceutical corporation based in the UK, the GlaxoSmithKline company. Furthermore, it observes the key trends and characteristics of the entire industry as well as the major challenges faced by it. Later, the report includes a reflective section which highlights a self-evaluation of acquired strengths and weaknesses. Lastly, it comprises of the areas which require self-consideration and improvement as well as the ways to overcome the identified shortcomings.
Part A
Introduction
According to Milne-Ives et. al. (2020), the pharmaceutical industry is known to be an integral and significant player within the UK. The annual turnover of the pharmaceutical goods wholesalers in the UK was approximately 43 billion British pounds, in the year 2017. Furthermore, in the year 2015, the gross revenue from the retail sales of healthcare and pharmaceuticals goods amounted to over five billion British pounds.
Whereas, the net capital expenditure in the production of pharmaceutical products reflected an amount of approximately one billion pounds in the year 2017. In this regard, the task will shed light on the target industry which is pharmaceutical industry. It will mention the attributes and characteristics of the industry that can impact the career option of an individual. Further, it will highlight the challenges that the industry is facing that may affects one’s career choice in the industry.
Overview of the target industry
In the year 2017, the consumers within the UK spent an amount of approximately 5.7 billion British pounds on pharmaceutical goods (Moynihan, 2020). In 2017-18, the most valuable and important over-the-counter (OTC) medicine category was pain relief. The category highlighted a sales value of approximately 567 million British pounds.
The sales amount makes up to almost 5% growth increment in revenue as compared to the previous year. Furthermore, the second most significant and valuable category was for colds, coughs, and sore throats, which highlighted an annual turnover of 460 million British pounds. This represents almost 7% increase in sales growth rate from the preceding year.
Figure 1 The UK-based pharmaceutical manufacturing market
(Source: Pharmaceutical Manufacturing Market Size, Share & Trends Analysis Report By Molecule Type, By Drug Development Type, By Formulation, By Routes of Administration, By Sales Channel, By Age Group, And Segment Forecasts, 2021 – 2028, 2021)
As per the observations of Woyna-Orlewicz & Jachowicz (2020), GlaxoSmithKline or GSK is the leading pharmaceutical corporation based in the United Kingdom. The net worth of the company is $934 million dollars in the year 2020. GSK was the globe’s sixth largest healthcare and pharmaceutical company according to the Forbes, in the year 2019. GlaxoSmithKline Plc or GSK is a leading British multinational corporation operating in the pharmaceutical industry, headquartered in London, England.
The company maintains a wide portfolio of established and innovative medicines in HIV, respiratory, oncology, and immune-inflammation. GSK is primarily engaged in manufacture of pharma medicines, research and development, consumer healthcare products, and vaccines. The company operates through different segments: Vaccines, Pharmaceuticals, Consumer Healthcare, and Pharmaceuticals R&D.
The second largest pharmaceutical company within the UK is AstraZeneca, highlighting the net worth of approximately $185 billion (Congress et. al. 2018). Furthermore, the number of wholesalers within the pharmaceutical industry highlights an increase every year and amounts approximately 3000 enterprises in the year 2017.
In addition to this, there were almost 640 businesses involved in the manufacturing of pharmaceuticals goods as well as preparations within the United Kingdom. Whereas, the number of pharmacists was 66 thousand in the year 2018. Moreover, innovation is gaining utmost significance within the UK-based pharmaceuticals industry.
The percentage of sales generated from research and development in the pharmaceutical manufacturing reflected a worth of almost 40%. Lastly, the recent figures of the pharmaceutical industry in the UK highlight the market worth of $32 billion in the year 2020, at 3.5% as the Compound Annual Growth Rate (CAGR).
Trends or attributes of the pharmaceutical industry
Vignesh & Ganesh (2020), explained that the UK-based pharmaceutical industry employs over 70000 people directly (25000 of those are engaged in Research and Development). Furthermore, the biopharmaceutical industry reflects an essential employer for the high valued jobs. It provides excellent and growth-oriented opportunities concerning career advancement of the graduates as well as postgraduates.
In addition to this, the introduction of the latest and innovative digital technologies, which also contribute in increasing employment opportunities within the pharmaceutical industry.
The UK-based Healthcare and Pharmaceutical industry incorporates different professional bodies. These entities or bodies govern the operations and activities of corporations operating within the industry (Fierlbeck, Graham, & Herder, 2021).
The principal professional bodies include the Association of British Pharmaceutical Industry (ABPI), The Association of Clinical Research Professionals (ACRP), The European Federation of Pharmaceutical Industries and Associations (EFPIA), and the International Federation of Pharmaceutical Manufacturers and Associations (IFPMA). Moreover, Medicines and Healthcare Products Regulatory Agency (MHRA), The Royal Pharmaceutical Society of Great Britain (RPSGB), and the Institute of Clinical Research (ICR) also regulate different operations, activities, and aspects of the pharmaceutical corporations.
Challenges and Issues encountered by the UK-based pharmaceutical industry
According to Costello (2020) The pharmaceutical industry based in the United Kingdom is known to be on a boom since the outbreak of the COVID-19 pandemic. Increase in sales and improved profitability has resulted in massive growth of the corporations as well as the industry as a whole. However, the industry and its leading corporations like the GlaxoSmithKline Plc are facing certain serious issues and challenges.
These issues and challenges hold the potential to directly affect the activities, operations, as well as the health of the leading corporations within the UK-based pharmaceutical industry. The challenges and issues are mainly related to technical aspects like Automation, Big Data, and Data integrity.
Furthermore, on analysing the key trends within the UK pharmaceutical industry, it has been observed that Regulatory issues like legislation, market authorisation, and clinical trials are also emerging challenges for the pharma companies (Chidiac, 2018). These challenges demand utmost consideration and attention from the corporations in order to be mitigated. The challenges and issues are described below:
Challenge related to Automation: Automation is a serious issue emerged as a result of outbreak of the COVID-19 pandemic. The spread of the deadly virus resulted in a significant increase of demand of the healthcare and pharmaceutical goods. The organisations like GlaxoSmithKline Plc and others are facing serious challenges in meeting the demand spikes and fulfilling the needs of the consumers appropriately (Richmond & Stevenson, 2017).
Furthermore, the requirement of vaccines to be made available in the market and scaling up of the production levels at a huger velocity are offering serious issues to the pharmaceutical corporations. These fluctuations and changes are completely shaking up and disrupting the clinical trials, the entire supply chain, and traditional R&D, with the new well-developed and protracted procedures.
The recent months have also highlighted a significant change in the profile of drugs in demand. Certain drugs observe a spike as an outcome of panic or induced purchasing, whereas, other drugs have seen troughs.
The changes in drugs also resulted in shortage of supply chains and complete disruption of the operations. Hence, the pandemic has resulted in disturbing the equilibrium of the pharma industry.
Technical challenges: The systems of Engineering as well as guaranteeing that they are compliant are observed to involve huge costs as compared to the specialist instruments required to create products. The manufacturers within the pharmaceutical industry must know and ensure that the implemented programmable logic controllers are operating appropriately and correctly (Vieiria, 2017).
However, the manufacturers often face challenges in ensuring that the information and data gathered by the SCADA system is reliable, true, and accurate. This challenge further highlights more complexities when corporations choose the proprietary systems incorporated with a high level of GAMP.
This is mainly because it demands extensive validation work which further involves a long-time span. Hence, the entire process is highly complex and can get even worse if new functions are added or the firm identifies additional issues, thereby, making it difficult to compete in the industry.
Figure 2 The pharmaceutical industry is at risk from Brexit
(Source: Vieiria, 2017)
Regulatory issues and challenges: The regulations within the UK pharmaceutical industry sets different factors like pricing, authorisation, investments, and the ways to reward R&D (Ozieranski, Rickard, & Mulinari, 2019). Market authorisation is a major issue being faced by the pharmaceutical corporations in the UK, like the GlaxoSmithKline Plc.
Market authorisation demands that the corporations place a medicinal product within the market, especially a product license. After the Brexit., the MHRA license is no more recognised or considered in the EU, thereby, implying that the UK medicines are not valid for EU sales. This is offering serious challenges to the UK-based pharma corporations which are operating over the international platform. Furthermore, the Brexit has offered serious challenges related to uncertainty over the UK’s capability to engage and collaborate in European trials.
Recently, the MHRA established the requirements for legal representation, registering clinical trials, as well as for importing Investigational Medicinal Products (IMPs). These regulations are offering serious issues and hindrances to the pharmaceutical and healthcare corporations based in the United Kingdom.
Issues of Data Integrity: Data Integrity is gaining utmost consideration and importance in the modern pharmaceutical industry, based in the UK. However, certain corporations continue to breach the established and well-defined standards of data integrity (Milne-Ives et. al. 2020). The pharmaceutical corporations like the GlaxoSmithKline Plc often face immense pressure to enhance their KPIs or Key Performance Indicators, specifically during the economic downturn conditions.
This offers serious challenges and issues to the corporations. Certain organisations face serious difficulties and complexities in standardising protocols and processes to ensure Data Integration. This is mainly due to lack of synergy as well as effective data management between corporations. Hence, these issues and challenges are directly affecting the operations as well as the activities of the leading corporations within the pharmaceutical industry within the UK. It is resulting in huge costs and expenses being incurred for ensuring legal and regulatory compliances as well as the proper implementation of digital technologies.
Conclusion
The task has summed up the overview of the target industry which is pharmaceutical industry within the UK. It has also analysed the various challenges that can impacts the individual’s choice of career in the industry. It includes the issues like data integrity, challenges related to the laws and regulations. Such challenges are important to determine for the one who seeks to have future kin this field.
Part B
As per the result of toolkit and self-analysation, I identify some strength and weaknesses. In order to understand interpersonal and intrapersonal skills and weakness along with potential opportunities and threats, the below are given SWOT analysis and after than critical evaluation will present for strength and weaknesses:
| Strengths
Team player- Through self-analysation test, I found that I am a good team player which is one of the biggest strengths of me. In order to work in pharmaceutical industry where things are very complicated, it is necessary to work as a team which enable to learn new things quickly. I am able to work with people who belong from different culture and dynamic people. Such skills allow me to connect with different types of people which eventually increase my knowledge and I learn many new things from their experience. My team player skills also help me to make good personal relationship which give me opportunity to perform my ability and provide a chance to improve performance. Further, this skill also helpful to make good relations with my seniors as well as other team members. good team player skills enable me to manage tasks at different level which give me the opportunity to grow within the organisation. Cultural intelligence- Through personality test and as a good player, I have one another important skills which is cultural intelligence. I am able to understand different culture norms and rituals which enable to connect with people easily. I am very much comfortable to work in dynamic environment and dynamic people even though I enjoy to work with people from different religion, region, and language. I always respect once beliefs, values, and cultures. Other than that, I am very aware towards my roles and I always give my best to maintain my social and cultural skills. I also used to explore new things and new culture in order to develop my cultural skills. It is very important to have cultural skills in order to work with pharma company because they have to attend all kind of people irrespective of any kind of discrimination. Operational management- I am able to manage operational work in Glaxo Smith Kline Plc company because in this firm their main function is to manufacture medicines and medical equipment but they also have to manger their operational work like people management, finance management, logistics, and so on. Hence, my operational management skills enable me to get opportunity to work with such a big pharma company. This strength helps me to work in an organised way and allow me to effectively use raw materials into finishing medicines (Santiago et. al. 2019). Through such strength I am able to perform well in the pharma company and contribute to increase profit and sales. Project management- It is very important to have a project management skill because it enables to make clear and organised plans to establish team collaborations to meet deadline works. Further, it helps me to reduce chaos and I can effectively perform my roles and responsibilities. This skill helps me to increase efficiency. Time management- I wants to become an operational manager and thus I develop time management skills because it is very crucial to have a time management skill. It assists me to accomplish my assign task on time and in a productive manner. It also helps me to maintain my stress level during the work load. Such skill helps me to get opportunity as an operation manage in Glaxo company. Communication skills- It is very important skill to work with any kind of industry. As above mentioned, that I want to be an operation manager in pharma company hence, I develop my professional communication skill. It helps me to connect more people and ask for assistance. Further, it also helpful for my personal and professional development. It assists me to be a best team players and handling conflicts which often occur in workplaces. Digital fluency- In today’s time almost every company prefer those people who have sound knowledge of digital techniques. I have this skill as I am able to handle all kind of digital work which is used in pharma company or which is necessary for an operational manager.
|
Weaknesses
Lack of resilience- It is one of the biggest weaknesses which becomes the barrier in my future growth. I am not easily leaving my existing work or learn new things as I do not want to leave my comfort zone which restrict my success. However, it takes time to change this habit and till that it affects my career adversely. Impatient- I am easily get stressed and anxious from problems and even small challenges. It ruins my previous efforts and affect my contributions and performance. Further, no one is willing to assign me big task due to this weakness. Thus, I need to be calm and patient in problematic situation. Inattentive attitude- In order to work in a pharma company, it is vital to be attentive because any small mistake can become the life-threatening situation (Koch et. al. 2020). My attitude is inattentive which is the great weakness in my professional development. Hence, I have to attentive and develop presence of mind skills in order to work as operational manager in a pharma company. Unable to understand deep medical terminology- Glaxo Smith Kline Plc is one of the giant pharma companies as they manufacture many kinds of medicines and medical equipment. I am not able to understand difficult medical terminology which can reduce my opportunity to work with them as they recruit higher experience people who are aware with all types of medicines and further terminology. Lack of self-confidence- A manager should have a high confidence and motivation level. In contrast, I have low self-confidence and motivation which affect my ability, performance, and reduce the chance of success. Due to this weakness, I am not able to meet deadlines and hesitate to take new tasks and learn new things. |
| Opportunity
As I mentioned that I have digital fluency skills and I am able to be effective operational manager. These skills facilitate me to grab elevated career opportunities and helps me to get a good position in Glaxo company (Jani et. al. 2017). Through these skills I can get admission to tier-1 institute to complete my higher studies and get a sound job. |
Threat
The biggest threat for me is high competition in job market and tough process to get a job. Another threat is my weakness as it restricts my growth and thus, my rivals can beat me and get my place. |
Critical evaluation of strength and weakness
The above mentioned, skills and strength positively affect my career and in contrast my weaknesses narrow my growth opportunities. Above provided strengths and weaknesses critically analyse by below given toolkit and psychometric test.
Team players: I am good team players as I follow and learn about different team building theories and practices like Belbin team roles, Tuckman’s team model, and so on. I am able to work with diverse people and environment which provides me growth opportunity. As I am a good team player but I am not still not able to lead a team. Further, I do not have appropriate support and guidance which is required to become a team lead. It becomes the weakness for my future
Cultural intelligence: I like to work with diverse people and work in different culture which give me more growth opportunity. I have lack of flexibility and I am least interested to learn new things as I always focus on my existing skills.
Emotional intelligence: I am aware about my roles and responsibilities and I also give my best to maintain my emotional intelligence. For that purpose, I explore many new things and learn from people that how they manage difficult situations. I have a weakness for my self-awareness and self-confidence. I am not eager to take big responsibilities and like to leave in my comfort zone which is very bad for my career growth.
16 Personality test: From the test result, I found that I am good team player, sound communication skills, cultural and emotional intelligence. On the other hand, I have lack of self-confidence, and motivation. Further, I am not flexible person which restrict my growth.
Part C- Area for improvement
Self-assessment is essential, as it ensures corporate status and career success, to strengthen the attainable range of capabilities as well as to address any weaknesses. In this context, effort at a self-examination is given that enabled me to discern, assess, and break down my strengths and dimness. In addition, I recognized and understood that regular self-assessment or investigation generally enables the process of discovering which areas can be improved. Additionally, it makes it possible for one to recognize amazing development-driven freedoms and make use of them.
Lack of Resilience: Resilience provides an inner potential to a leader for work in critical situation, also Setbacks are overcome by resilience. Moreover, they overcome major challenges without engaging in dysfunctional behaviour or harming others. Due to self- analysis I have been realised that I have lack of resilience ability in difficult situations that is a great weakness to me and improving resistance to enhance my carrier growth. I have realized that this problem can be reduce by creating the perfect goals, developing sense of human and by embracing the challenges, so that I can archive my goal perfectly.
Impatient: the patience is must important factor for leader, where impatient leader can not lead the team perfectly. This makes them angry on the team and gain orders and commands on the team, that highly frustrate the workers. From the above self-assessment, I have realized that I have to gain my patient to accomplish my long-term goal. To achieve my long-term goal, I have to divide my goal in short terms and has to overcome on impatient behaviour.
Inattentive attitude: being active will give an extra confidence to overcome weaknesses and incense chance of the success. from the self-analysis I have been realised that, I have lack of in attentive attitude ability that is an excessive softness to me and improving chance of failure for myself, so that I has to overcome it to enhance my carrier development.
Lack of self-confidence: Self-confidence is an essence or the most integral aspect of an individual. It immensely supports an individual to plan career advancement, take risks, set goals and objectives, and to implement effective action plans to achieve those goals (Costello, 2020). On conducting a self-evaluation, I analysed that I lack self-confidence. Hence, I decided to develop self-confidence so as to strengthen my overall personality as well as to enhance my corporate status. I realised that I should be self-aware in order to be self-confident. For this purpose, I decided to frequently assess my possessed strengths and achievements. Furthermore, I broke down my long-term goals and objectives into short-term goals, so that such small achievements contribute in building my confidence and motivating me to achieve more in my professional life.
I also decided to gain additional knowledge related to my professional field and industry as well as to acquire additional skills. Lastly, I decided to frequently ask relevant questions to my leaders and managers, thereby, contributing in enhancing my knowledge. This will also contribute in developing my confidence as I will be more aware of the industrial and business insights.
Conclusion
Hence, the above report articulates that leadership and management are the most vital elements which drive an organisation or an industry towards growth, development, and prosperity. The above report highlighted the case study analysis of the UK-based pharmaceutical industry and one of its leading corporation, GlaxoSmithKline Plc. The report highlighted the key attributes of the industry as well as the major challenges or issues faced by it. Later, the report included a reflective section which enlightened a self-evaluation and analysis of acquired strengths and weaknesses or shortcomings. Lastly, the report comprises of the key areas which require self-consideration and improvement, thereby, observing the suitable ways to overcome the identified shortcomings.
References
Books and Journals
Chidiac, M. A. (2018). Supporting a merger in the pharmaceutical industry. In Relational Organisational Gestalt (pp. 223-234). Routledge. Retrieved from < https://www.taylorfrancis.com/chapters/edit/10.4324/9780429452833-23/supporting-merger-pharmaceutical-industry-marie-anne-chidiac >
Congress, C., Forecasting, P., Summit, A., Coast, M. W., & Summit, A. B. (2018). Major Pharmaceutical Conferences and Courses.Retrieved from: < https://www.proquest.com/info/openurldocerror;jsessionid=2BB4005921095B1C73F9323F4E92E2E4.i-04bb228e5a022103b>
Costello, F. (2020). Taught resilience programmes: a case study from the perspective of employees of a large pharmaceutical company based in the UK. Continuity & Resilience Review. Retrieved from: < https://www.emerald.com/insight/content/doi/10.1108/CRR-05-2020-0019/full/html>
Fierlbeck, K., Graham, J., & Herder, M. (Eds.). (2021). Transparency, Power, and Influence in the Pharmaceutical Industry: Policy Gain Or Confidence Game?. University of Toronto Press. Retrieved from: < https://books.google.co.in/books?hl=en&lr=&id=HSw4EAAAQBAJ&oi=fnd&pg=PP1&dq=pharmaceutical+industry+in+UK&ots=pcR1wNy_a8&sig=soObdBSBGlCg9Wc4LNqVhvvJSlY&redir_esc=y#v=onepage&q=pharmaceutical%20industry%20in%20UK&f=false>
Milne-Ives, M., Lam, C., van Velthoven, M., & Meinert, E. (2020). The impact of brexit on the pharmaceutical supply chain of the United Kingdom: scoping review protocol. JMIR Research Protocols, 9(9), e17684. Retrieved from <https://www.researchprotocols.org/2020/9/e17684/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A%20ResProtoc%20%28JMIR%20Research%20Protocols%29&utm_content=FeedBurner >
Moynihan, R. (2020). Commentary: The Voice of the People, Funded Now by Your Friendly Pharmaceutical Company. Journal of bioethical inquiry, 17(1), 61-63. Retrieved from < https://link.springer.com/article/10.1007/s11673-020-09965-y >
Ozieranski, P., Rickard, E., & Mulinari, S. (2019). Exposing drug industry funding of UK patient organisations. Bmj, 365. Retrieved from:< https://www.bmj.com/content/365/bmj.l1806.abstract >
Richmond, L., & Stevenson, J. (2017). The pharmaceutical industry: a guide to historical records. Routledge. Retrieved from:< < https://books.google.co.in/books?hl=en&lr=&id=CpY4DwAAQBAJ&oi=fnd&pg=PT10&dq=pharmaceutical+industry+in+UK&ots=8r4q9nr9OR&sig=hLOkXAU5Yln8KZZs95n3EHetrUU&redir_esc=y#v=onepage&q=pharmaceutical%20industry%20in%20UK&f=false >
Vignesh, M., & Ganesh, G. N. K. (2020). Current status, challenges and preventive strategies to overcome data integrity issues in the pharmaceutical industry. International Journal of Applied Pharmaceutics, 19-23. Retrieved from: < https://www.researchgate.net/profile/Vignesh-Manoharan-2/publication/346756603_CURRENT_STATUS_CHALLENGES_AND_PREVENTIVE_STRATEGIES_TO_OVERCOME_DATA_INTEGRITY_ISSUES_IN_THE_PHARMACEUTICAL_INDUSTRY/links/5fe7521092851c13fec4323c/CURRENT-STATUS-CHALLENGES-AND-PREVENTIVE-STRATEGIES-TO-OVERCOME-DATA-INTEGRITY-ISSUES-IN-THE-PHARMACEUTICAL-INDUSTRY.pdf >
Woyna-Orlewicz, K., & Jachowicz, R. (2020). Pharmaceutical industry before COVID-19. Acta Poloniae Pharmaceutica-Drug Research, 269-274.Retrieved from: < https://search.bvsalud.org/global-literature-on-novel-coronavirus-2019-ncov/resource/en/covidwho-886408 >
Koch, A., Imhoff, R., Unkelbach, C., Nicolas, G., Fiske, S., Terache, J., … & Yzerbyt, V. (2020). Groups’ warmth is a personal matter: Understanding consensus on stereotype dimensions reconciles adversarial models of social evaluation. Journal of Experimental Social Psychology, 89, 103995.<https://www.sciencedirect.com/science/article/abs/pii/S0022103119308054>
Santiago, A., Langston, J. W., Gandhy, R., Dhall, R., Brillman, S., Rees, L., & Barlow, C. (2019). Qualitative evaluation of the personal kinetigraph tm movement recording system in a parkinson’s clinic. Journal of Parkinson’s disease, 9(1), 207-219. <https://content.iospress.com/articles/journal-of-parkinsons-disease/jpd181373>
Jani, H., Narmawala, W., & Ganjawale, J. (2017). Evaluation of competencies related to personal attributes of resident doctors by 360 degree. Journal of clinical and diagnostic research: JCDR, 11(6), JC09. <https://www.ncbi.nlm.nih.gov/pmc/articles/PMC5535392/>
Online:
Pharmaceutical Manufacturing Market Size, Share & Trends Analysis Report By Molecule Type, By Drug Development Type, By Formulation, By Routes of Administration, By Sales Channel, By Age Group, And Segment Forecasts, 2021 – 2028, 2021. [Online:]. Accessed through:< https://www.grandviewresearch.com/industry-analysis/pharmaceutical-manufacturing-market >
Vieiria, 2017. The pharmaceutical industry is at risk from Brexit. [Online:]. Accessed through:< https://blogs.lse.ac.uk/businessreview/2017/06/12/the-pharmaceutical-industry-is-at-risk-from-brexit/ >
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