Leadership. Leadership. Change in the Pharmaceutical and Biomed Industry

Change in the Pharmaceutical and Biomed Industry
Student’s Name
Institutional Affiliation
Change in the Pharmaceutical and Biomed Industry
Introduction
Over the past few years, the pharmaceutical industry has witnessed a drastic change as they shift from the conventional internal and centralized method of production to the more modern and less costly contract service organizations. Many pharmaceutical organizations have developed a need to partner with strategic companies, which enable them to eliminate the in-house positions and outsource such responsibilities. As a contract service organization, our company is aimed at supporting the pharmaceutical and Biomed industries by providing research services such as commercialization, clinical trials, clinical research, and biopharmaceutical developments. The mission of our organization is to offer excellence in proving the concept of the customer by incorporating feasibility, efficacy, and safety. Since drug development projects begin with an idea, we must prove the customer’s concept before giving them the go-ahead to implement their plan. The wide variety of research services offered by our company are also well suited to cater to the needs of any pharmaceutical and Biomed company. Our stakeholders include various voluntary health associations such as the American Cancer Society and the American Diabetes Association. These associations are aimed at preventing and eliminating cancer and diabetes as a major health issue, to improve human lives. As a result, they continue to prioritize their funding and partnership with our company.
Forces Driving the Company Changes
Owing to the rise in contract services in the pharmaceutical and Biomed industries, our company has continuously improved the services offered to customers by making strategic investments. Nonetheless, as a system, our company is dependent on many interdependent factors, which affect its strategic and future planning as well as daily operations.
Internal Factors
The internal forces that drive change in our organization include technological changes, profitability, resource constraint, and systemic forces. Technological changes include changes in the work sequence, level of automation, equipment and work processes. These technological changes are driven by the changing advancements in the technological environment, which affect the prosperity and survival of the company since the adoption of such changes results in financial savings, whereas the lack of adoption might lead to losses and low competitiveness. Issues with profitability are brought about by a decrease in market shares and revenue losses. In most circumstances, profitability issues are brought about by the increase in competition and relative costs (Burja, 2011). Revenue constraints are due to the lack of abundant resources required for the operations within the company. Concerning systemic forces, since the company is made up of a system and some subsystems that are linked together, these subsystems also affect organizational behavior, and therefore, a change in the subsystem will affect the overall alignment of the company and its processes. The revenue constraints and issues with profitability can force the company to restructure, which will reduce the company’s level of production and performance.
External Forces
External forces include strict government and regulatory compliance, economic forces, competitiveness, and technological forces. Regulatory compliance is driven by the government and other concerned authorities, which require companies to adhere to strict standards and regulations. The need for the government to assure patient safety by being up to date with the company practices has led to the development of such rules. Such regulations affect the operations of the company since we are forced to invest in certain machinery, equipment, facilities and personnel to comply with the rules, which can be costly. Economic forces relate to economic uncertainties or opportunities that influence changes in management strategy. Economic forces are driven by inflation rates, monetary policies, changes in demographics and employment rates because these factors determine the state of the competitive environment in which our company operates. Technological forces refer to the innovations and advancements that have changed the operations of the firm by creating new methods of working. Technological forces have been brought about by the continuously evolving technological advancements, which have proven difficult to keep track of. However, once change within the company is driven by such changes, the company can experience high levels of competitiveness, and economic growth since the advancements result in the provision of quality services and products. Advanced technological equipment will help our company conduct accurate research using state of the art machinery while adhering to the regulations set by the government.
Regulatory Compliance
Regulatory compliance involves adhering to the standards, regulations, and laws that are relevant to the organization. Companies that fail to adhere to these laws are often penalized. In the pharmaceutical industry, these government regulations are aimed at protecting the safety of the public. By regulating the contract service...