MAR029-3 Preparation Specialist Project Assignment Sample
It is extremely essential for the pharmaceutical industry to implement an effective leadership style which is extremely essential for the success and optimum growth of this industry. In addition to that, a modern pharmaceutical organization needs to adopt an effective leadership style which will help the organization in handling and managing all organizational activities in a structured and disciplined manner. In the modern era, leadership may be considered as an important factor which is useful in designing a successful management in every organization and it also creates a positive impact in the performance management of an industry (Fickry et al., 2020). In this study the actual requirement and implication of different leadership styles in the success of the pharmaceutical industry will be discussed in detail. The main approach of effective leadership in the pharmaceutical industry is that it always influences and motivates the employees to perform better which may be influential in increasing the entire productivity of this industry. On a contradictory note the leadership of the organization needs to be transparent or else the employee may not be able to trust the higher management of the company which may affect the performance of employees.
It needs to be implied that the research is extremely essential in evaluating the significance of several leadership styles in improving the productivity and performance of the pharmaceutical industry throughout the world. Ineffective leadership style is extremely harmful for the pharmaceutical industry and it also has an adverse impact on the growth of the industry. Moreover, if a pharmaceutical organization will not be able to implement an effective leadership style then it will be extremely difficult for a pharmaceutical company to achieve future goals and objectives. The key benefits of effective leadership is that it is absolutely helpful in establishing a solid and structured foundation in a company and that is useful in setting clear goals, mission, vision and objectives for the success of the organization (Rihal, 2017). The main scope of the study is to identify the best way and effective leadership which enhances the profitability of the pharmaceutical industry.
Nowadays, leadership is responsible for the success and growth of the company even though ineffective or wrong implementation of leadership styles have a negative impact in the management of the industry. In the pharmaceutical industry there is a huge importance of teamwork as the prime responsibility of leaders of a pharmaceutical company is to motivate teamwork. Along with that, there may be an occurrence of conflict and other issues which need to be mitigated by effective leadership styles or else the productivity of the organization may be harmed. Furthermore, it is the duty of the leaders of a pharmaceutical organization to recognize the demand and needs of employees by establishing effective communication in the company. Furthermore, the levels of employees and organizational success have an intimate relationship as the leader of the pharmaceutical industry needs to motivate the employees for ensuring the business success (Araujo et al., 2020).
Boyden Leadership model
Boyden confined this leadership framework which denotes the actual approach of leadership profile in an organization which includes leading the organization, leading people and self leadership improvement. According to Boyden it is immensely useful for a pharmaceutical organization to implement entrepreneurial approach as it plays a crucial role in incorporating innovation and creativity in the organization (Mattingly et al., 2019). It is the responsibility of the leaders in the pharmaceutical industry to lead the organization and the employees of the organization and there is a huge importance of strategic orientation for the success of a pharmaceutical company. Leadership plays an essential role in motivating the employees of an organization and it is the key objective of the leaders of the company to influence and encourage employees with the help of effective communication (Nandasinghe, 2020).
Figure 1: Boyden Leadership model
(Source: Mattingly et al., 2019)
Moreover, a leader also needs to focus to motivate him or else it may be difficult for the leaders to motivate other employees of the organization. One of the main approaches of effective leadership style is to employ the employees of the organization and empowerment is closely related to the job satisfaction of employees which positively impacts the productivity of pharmaceutical industry. In addition to that, an effective leadership style always has a harmful effect on the organization and it may result in low productivity rate, high operational cost, improper attitude of workers and many more (Ibrahim and Daniel, 2019). On the contrary, an effective leader always takes responsibility, managing and handling tensions and conflicts and making effective decisions which will ensure the profitability and sustainability of a pharmaceutical organization.
Transformational leadership model
James MacGregor Burns mainly coined the transformational leadership model as transformational leaders play a crucial role in inspiring and motivating the employees of the organization and that results in extraordinary outcomes of the organization. Additionally, transformational leadership mainly deals with four elements such as encouraging and motivating creativity and innovation, motivating employees, individual monitoring and influential leadership which is really required for the optimum growth of the organization. It may be argued that transformational leadership has a positive association and connection with workplace motivation which have a beneficial impact in enhancing the performance of every employee at the highest level (Andriani et al., 2018). A pharmaceutical industry needs to focus on creative and innovative technology even though transformational leadership is extremely useful in encouraging the creative decision of this industry and that also improves the productivity level of a pharmaceutical organization. Moreover, transformational leadership is absolutely related with the organization notification of employees and engagement of employees as increased employee engagement always influences the higher performance of the entire employees in an organization (Buil et al., 2019). Transformational leadership also helps a pharmaceutical organization in monitoring the performance of every employee and it also generates a beneficial impact in resolving the problems of low productivity of the organization through enhancing the performance of employees. The prime characteristics of transformational leaders are that these leaders always set a supreme values and ethics to obtain trust from the employees of the organization.
Figure 1: Transformational leadership model by James MacGregor Burns
(Source: Buil et al., 2019)
Theme 1: Emotional intelligence of leaders in the success of pharmaceutical industry
It may be argued that Emotional Intelligence (EI) and leadership are closely associated with the success of an organization and this framework will define the impact of EI and leadership style in enhancing the effectiveness of the organization in the industry. Nowadays, the challenge and difficulties are rising day by day in an organization as a leader needs to resolve this challenge through implementing some changes in the organization and for that recession EI is extremely required. Moreover, lack and inadequate EI in leadership may be harmful for the growth of the organization and it may create many difficulties in executing the changes to overcome the organizational challenge (Issah, 2018). Due to random changes in governmental policy, satisfaction and expectation level of customers, revolution of new disease and technological changes, and the pharmaceutical industry has experienced several difficulties and challenges (Ccl.org. 2021).
In addition to that, most of the pharmaceutical organization believes in the implementation transformation, transactional, collective and distributive leadership styles to manage the organizational activities of the pharmaceutical industry. Emotional intelligence (EI) is immensely essential in establishing effective talent management in the pharmaceutical industry and it plays an essential role in incorporating a positive attitude among the employee which also increases the job satisfaction of employees (Qeed et al., 2018). Cipla is one of the renowned names in the pharmaceutical industry which prefers to improve and strengthen the leadership position in this market and for that reason the country is rapidly expanding its business in India, South Africa and other countries (Cipla.com. 2021).
Theme 2: Analysis of the management practices adopted by the leaders for pharmaceutical industry success
The main approach of the pharmaceutical managerial practices is to develop and improve the growth and performances of the company through executing innovative techniques and motivating the employees of the organization. In addition to that, the leaders of the pharmaceutical organization need to be extremely sincere in recruiting skilful people or else the productivity of the organization may not be improved. There is a huge role of communication training in doing effective managerial practices in pharmaceutical organizations and the main role of effective communication is to maintain a healthy relationship with stakeholders of the organization. Sometimes, there is a huge requirement for managerial change in the organization and for that reason many organizations prefer to adopt transformational leadership styles which are impactful in establishing change management in the organization (Alqatawenh, 2018). On a special note, the pharmaceutical industry requires huge technical improvement or else the production and operational cost may not be able to be reduced and that may affect the profitability of the organization. Furthermore, the leaders of the organization need to design an effective performance management which will be impactful in tracking the performance of every employee in the organization.
Data collection may be considered as one of the most important processes which are extremely essential in designing proper themes for the literature review of the study. In this research process, secondary data collection has been implemented and it has generated a strong impact in evaluating the significance of leadership in the success of pharmaceutical industry. More specifically, the use of secondary data has become extremely common these days and it has several benefits for the researchers in executing secondary data collection method for the research process (Martins et al., 2018). In this research process several academic journals, articles and web sources were used to obtain essential data and information to conduct the research process. Additionally, the secondary data from that research was mainly collected from Sage Open, Am J Pharm Educ, International Journal of Hospitality Management, official website of Cipla and either trusted and verified journals.
This research proposal is mainly generated to design or construct a dissertation regarding this topic and for that dissertation multiple verified academic journals, web sources and annual reports of the pharmaceutical companies needs to be used. Moreover, the journal and articles need to be authenticated and written in the English language or else it may harm the final results of the research. Along with that, reputed journal need to be taken for the next step of the research which will also play a vital role in providing proper importance and several aspects of leadership in the pharmaceutical industry
It is required that there are multiple pharmaceuticals in the world such as GSK, Cipla, Pfizer, Sun Pharma and every organization has their own leadership styles which has a great significance in maintaining the flow of work in these companies. Modern organizations always believe in the execution of knowledge oriented leadership which is suitable for open innovation within the organization and also increases the credibility of organizational management in a professional manner (Naqshbandi and Jasimuddin, 2018).
It may be stated that it is extremely critical to gather and implement quality secondary data from the journals and articles even though it may take lots of time which may make the research process extremely time consuming. In addition to that, time management and low budget may be considered as the prime challenges for the entire research process which may affect the final results of the research.
From the above discussion, it may be concluded that leadership approaches in the pharmaceutical industry need to be immensely effective or else the problem and challenges of the pharmaceutical industry may be increased. The main intention of the effective leadership styles is to act as a bridge between the top level management and employers which ensures the success and growth of this industry.
- Alqatawenh, A.S., 2018. Transformational leadership style and its relationship with change management. Verslas: teorija ir praktika, 19(1), pp.17-24.
- Al-Qeed, M.A., Khaddam, A.A.H., Al-Azzam, Z.F. and Atieh, K.A.E.F., 2018. The effect of talent management and emotional intelligence on organizational performance: Applied study on pharmaceutical industry in Jordan. Journal of Business and Retail Management Research (JBRMR), 13(1).
- Andriani, S., Kesumawati, N. and Kristiawan, M., 2018. The influence of the transformational leadership and work motivation on teachers performance. International Journal of Scientific & Technology Research, 7(7), pp.19-29.
- Araujo, C.C., Giri, E.E. and Soares, A.D.C., 2020. The Effect of Leadership and Employee Motivation on Business Success and Organizational Performance (Study at Aeroporto Presidente Nicolau Lobato, Dili and Timor Leste). International Journal of Multicultural and Multireligious Understanding, 7(7), pp.506-514.
- Buil, I., Martínez, E. and Matute, J., 2019. Transformational leadership and employee performance: The role of identification, engagement and proactive personality. International Journal of Hospitality Management, 77, pp.64-75.
- org. 2021. [online] Available at: <https://www.ccl.org/articles/leading-effectively-articles/the-leadership-challenge-in-the-pharmhttps://www.ccl.org/articles/leading-effectively-articles/the-leadership-challenge-in-the-pharmaceutical-sector/aceutical-sector/> [Accessed 24 December 2021].
- com. 2021. Cipla – Top leadership position across pharmaceutical markets. [online] Available at: <https://www.cipla.com/our-presence> [Accessed 24 December 2021].
- Fickry, A., Kee, D.M.H., Sallehuddin, M., Nabila, N. and Nuraishah, S., 2020. Leadership and organizational success: A study of AirAsia. Advances in Global Economics and Business Journal, 1(1), pp.12-25.
- Ibrahim, A.U. and Daniel, C.O., 2019. Impact of leadership on organisational performance. International Journal of Business, Management and Social Research, 6(2), pp.367-374.
- Issah, M., 2018. Change Leadership: The role of emotional intelligence. Sage Open, 8(3), p.2158244018800910.
- Martins, F.S., da Cunha, J.A.C. and Serra, F.A.R., 2018. Secondary data in research–uses and opportunities. PODIUM sport, leisure and tourism review, 7(3).
- Mattingly, T.J., Mullins, C.D., Melendez, D.R., Boyden, K. and Eddington, N.D., 2019. Entrepreneurship in pharmacy practice and education: a systematic review. Am J Pharm Educ, 83(3), p.7233.
- Nandasinghe, G., 2020. Leadership and organization performance: A review on theoretical and empirical perspectives. Global Journal of Management and Business Research, July, pp.25-30.
- Naqshbandi, M.M. and Jasimuddin, S.M., 2018. Knowledge-oriented leadership and open innovation: Role of knowledge management capability in France-based multinationals. International Business Review, 27(3), pp.701-713.
- Rihal, C.S., 2017. The importance of leadership to organizational success. NEJM Catalyst, 3(6).
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