Planning & Manufacturing On Example Of Pharmaceutical Company Essay

Being one of the most leading pharmaceutical companies, Smitheford Pharma is greatly concerned about different factors that should influence their decision concerning many organizational and production issues. In order to solve these issues, the company is required to perform the cost benefit analysis on technology options, as well as determine what other factors should influence their decision.

Hence, in this paper, we will determine different factors that should influence the company’s decision concerning many organizational and production issues, identify these other factors and provide an insight as to their importance, and answer the question regarding the higher technology option.

As for any company, efficiency and effectiveness are very important components for its perfect functioning and productivity. Evaluating the effectiveness of the company has certain techniques that can be safely transferred to any sector of the economy.

Organizational effectiveness is a key competitive advantage that determines the success and vitality of the company. It allows organizational management to achieve the desired results.

Organizational effectiveness is evaluated on the following factors:

  1. Awareness of the process of organizational development;
  2. Responsibility for the process of organizational development;
  3. Evolutionary organizational development; and
  4. Lifelong learning in the process of organizational change.

Efficiency cannot appear by itself, and, particularly, cannot be amplified in “stand alone” mode. It is a consequence and a result of four interrelated reasons.

The first reason is a professional management company. Without proper configuration of this factor, it is impossible to speak about the perfect functioning of the company. If the competence of senior management is based on the understanding and application of technologies, methods, tools of international theory and practice management system, all the employees will systemically deal with each other.

The second reason is a professional regulation of financial flows in the company. The implementation of management accounting and budgeting gives managers a timely “picture” of the financial health of the company.

The third reason is the introduction of the process approach at all organizational levels in the company. This makes it possible to streamline and customize the activities of all the functional services to create value for the consumer.

The fourth reason is the introduction of lean thinking and actions at the managerial and operational levels. As a result, one of the most popular recipes of survival in times of crisis for the management of the companies is to reduce costs.

This is a well-known fact that many pharmaceutical companies spend lots of their financial resources in order to develop new innovative and up-to-date technological products. Thus, talking about other factors that should influence the company’s decision, it is possible to speak about business risks, financial flexibility, market conditions, and management style.

Business risks are commonly associated with the fact when consumers feel comfortable with the company’s abilities to meet their major needs and expectations.

Financial flexibility is the company’s ability to be able to increase its capital even in bad times. It is very important for any company in order to be competitive at the global market.

Market conditions can have a critical impact on any company’s functioning and production conditions. Hence, market conditions are specific economic situations occurred in the particular market in a limited period of time. The concept of the market situation includes:

  • the degree of balance of the market (supply and demand);
  • the emerging or changing market trends;
  • the level of resistance or hesitation basic parameters of the market;
  • the extent of market operations and the degree of business activity;
  • the level of commercial (market) risk;
  • the power and scope of competition; and
  • the market position at a certain point of economic or seasonal cycle.

According to Healy (2012), “Mapping the marketing context is ultimately about determining how favourable conditions are for your brand and your product or service” (para. 2). As a result, the main purpose of market research is to determine the nature and extent of its balance of supply and demand. All in all, the importance of these factors cannot be overstated. They are essential when it comes to the company’s functioning and productivity.

In fact, world-class organizations try to select the higher technology options since they are one of the most effective tools for developing and improving the company’s excellent functioning and production at the same time. Also, the higher technology options are of great importance with the crowds because they are “expected to play a key role in long-term perspective” (Magne, Kypreos, & Turton, 2010, p. 83). In addition, they greatly help any companies become more competitive at the global market.

Thus, taking the above-stated information into consideration, it is possible to draw a conclusion that Smitheford Pharma, being one of the most widely known pharmaceutical companies, greatly focuses on different factors that influence their decision regarding many organizational and production concerns. Hence, in order to resolve these problems, the company is required to define the factors that can greatly influence their decision. Indeed, factors such as business risks, financial flexibility, market conditions, and management style are very essential when it comes to the company’s functioning and productivity. As a result, world-class organizations try to select the higher technology options because they greatly help any companies become more competitive at the global market.

 

References

Fecht, F., Nyborg, K. G., & Rocholl, J. (2011). The Price Of Liquidity The Effects Of Market Conditions And Bank Characteristics. Retrieved from http://www.ecb.europa.eu/pub/pdf/scpwps/ecbwp1376.pdf

Healy, M. (2012, April 03). Five ways to identify favourable marketing conditions. Retrieved from http://www.theglobeandmail.com/report-on-business/small-business/sb-marketing/advertising/five-ways-to-identify-favourable-marketing-conditions/article4097417/

Magne, B., Kypreos, S., & Turton, H. (2010). Technology Options for Low Stabilization Pathways with MERGE. The Energy Journal, 31 (1), 85-108.

The terms offer and acceptance. (2016, May 17). Retrieved from

[Accessed: March 29, 2024]

"The terms offer and acceptance." freeessays.club, 17 May 2016.

[Accessed: March 29, 2024]

freeessays.club (2016) The terms offer and acceptance [Online].
Available at:

[Accessed: March 29, 2024]

"The terms offer and acceptance." freeessays.club, 17 May 2016

[Accessed: March 29, 2024]

"The terms offer and acceptance." freeessays.club, 17 May 2016

[Accessed: March 29, 2024]

"The terms offer and acceptance." freeessays.club, 17 May 2016

[Accessed: March 29, 2024]

"The terms offer and acceptance." freeessays.club, 17 May 2016

[Accessed: March 29, 2024]
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