SG7001 Managing Strategy Operation and Partnership
4a.
| Stage in the industry life cycle | Maturity stage |
| Implications | The pharmaceutical industry falls in the maturity stage of the industry life cycle as it focuses on developing market share, cash flow and profitability(He, et al., 2019). Nowadays the Pharmaceutical industry has reached its maturity level, as it becomes one of the leading companies in revenue generation and in satisfying the demands of the employees. In the modern day, the end of authentic and effective medicine is very rare and the authentic production of the medicine is very essential for companies to reach their target by managing authentic production and customer satisfaction.The company should give emphasis on the development of their products, as they need to be more efficient and authentic to their production. After evaluating the threats and opportunities, they can enter the maturity stage and they can enter in. The correct way of production and meeting, the “customer satisfaction rate” has effectively helped the economy to enter the maturity stage (Stark, 2020). The pharmaceutical industry in the maturity stage also helps them in increasing market share through differentiation. |
4b. Development of survival and success factors
| Issues | Survival factor | Success factor |
| Distribution of falsified and counterfeit medicines | The pharmaceutical industry operating in Morocco needs to comply with BMI standards or European quality standards that will help them in eliminating the risk of counterfeit medicines(Schwartzman, et al., 2022). There are several factors that generally affect the several factors of a company. In the context of the company, it has been said that they are facing difficulties in some aces of producing the medicines effectively. They have faced the high potentiality in introducing high-quality medicine and they have accepted innovative and new methods in delivering the best quality results to the customers. In order to keep their strong position in the current competitive market, they are using new and advanced technology, in their production of drugs and medicines. | The pharmaceutical industry operating in Morocco can also comply with the Moroccan National Laboratory for the control of Medicine which is responsible for conducting a check on medicines’ safety and quality(Lebed & Nemchenko, 2021). It will be a great benefit to the Sothema company in the education of their drug and medicines. The organization has taken some initiatives in order to get potential benefits. They are trying to introduce several innovative and new changes within their production to rectify the previous shortcomings and eliminate the errors in the productions. |
| High cost of patent license fees, lack of manufacturing sovereignty | Issues of the high cost of patent license fees and lack of manufacturing sovereignty can be eliminated by maintaining intellectual property protections and industry support(Wrightl & Doukas, 2021). The license and the other cost needs to be eliminated as it may cause harm to the product significantly. If the laws and regulations of the government can be mitigated then the company will effectively produce the medicine and drugs. | Eliminating the high cost of patent license fees and lack of manufacturing sovereignty for the pharmaceutical industry help in innovating the market faster as a result of which turns out to be beneficial for the organisation (Sarmah, et al., 2020). The company will more effectively produce the medicine if they can freely manufacture the products and if the elimination of the cist will be reduced then the success rate of the company will increase significantly. |
References
He, B., Luo, T. & Huang, S., 2019. Product sustainability assessment for the product life cycle. Journal of cleaner production, 206(1), pp. 238-250.
Lebed, S. & Nemchenko, A., 2021. ScienceRise: Pharmaceutical Science. Problems of false medicines’ distribution and prospects of combat: a survey of specialists and consumers results, 5(33), p. 49–56.
Michael, G., 2022. Product lifecycle management. London: Sage.
Sarmah, A., De Giovanni, D. & De Giovanni, P., 2020. Compulsory licenses in the pharmaceutical industry: Pricing and R&D strategies. European Journal of Operational Research, 282(3), pp. 1053-1069.
Schwartzman, G. et al., 2022. Dermatologic clinics. Dermatologic Consequences of Substandard, Spurious, Falsely Labeled, Falsified, and Counterfeit Medication, 40(2), pp. 227-236.
Stark, J., 2020. Product lifecycle management (PLM). In Product lifecycle management. In: London: Springer, Cham, pp. 1-33.
Wright, J. & Doukas, D., 2021. Health Economics, Policy and Law. Challenges to sovereign ambitions: forces of convergence and divergence within the global pharmaceutical sector, 16(1), pp. 256-272.
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