Wish you happy New Year!
We posted just a few blogs on Pharma Industry during past two months, and now there are mails asking to open the context a bit more.
So, on this New Year, we extend the posts to cover Pharma Industry a bit more.
We were searching for core problems faced by Indian Pharma Industry; and the winning strategies it is adopting. Remember that Pharma Industry worldwide is at cross-roads, not mainly because of current global turmoil but because of its own ways of doing things. Perhaps, the long standing assumptions on which it has been operating have changed.
We must also remember that the set of problems faced in developed countries are not same as those in Emerging countries.
There are now a large number of new strategies of varied nature adopted by different organizations. Several players tried to copy strategies of others, and a vast majority of them are under severe stress, as nothing is working out good for them. They along with those who are yet to choose right strategy, are asking which particular strategy best suits their individual condition and culture. This means that they need a methodology to select a sound strategy. However, things are changing too fast from too many directions, hence, it is not necessary that the existing way of choosing a strategy would work perfectly.
At the same time, it becomes necessary for organizations to figure out, what does not or need not change with time, which becomes the backbone around which it can comfortably deal with rapid environment changes and/or cause internal changes to immune itself.
This may bring us to look deeply into the way an organization works and identify those few leverage points, it can use to come out with a unique business model. It just can’t stop looking internally, rather it must make choice on the position it wants to take in the marketplace and commit itself to build the capabilities that will allow it to leverage its winning strategies. And this must happen by recognizing the tightening boundary conditions, as well as the opening opportunities in the business environment.
An immediate trigger for this blog, though, came from a co-passenger during my flight from Delhi to Hyderabad, in the last week of December. My co-passenger, now a good acquaintance, is a senior pharma professional; and he just opened out the situation in Indian Pharma Industry as he described the stress levels it is going through. What we learn from this interaction is that once we choose a strategy we need guidelines too in drafting the right operational strategy to build and sustain the winning capabilities.
I thought that this trigger is a good starting point, for getting into the affairs of Indian Pharma Industry. We will now take it forward from here.
Here it is : Pharma at Cross-Roads
31 March 2014