Challenges Faced by The Indian Pharmaceutical Companies in Implementing and Executing Strategic Management Practices
Author(s):
Rajeev Sharma, Dr. Mayank Agarwal
Keywords:
Pharmaceutical Industry, Strategic Management, Challenges, Indian Companies Demographic Analysis
Abstract
This study investigates the challenges faced by Indian pharmaceutical companies in implementing and executing strategic management practices. Through a comprehensive analysis of demographic factors, reliability assessment, and chi-square analysis, ten key challenges are identified and examined. These challenges include regulatory compliance, intellectual property rights (IPR), rapid technological changes, price controls and margin pressure, quality control and assurance, supply chain management, market access and distribution challenges, research and development (R&D) and innovation, talent management, and competitive pressures. Findings reveal significant disparities in gender distribution, age demographics, and company representation within the workforce. Furthermore, reliability analysis highlights inconsistencies in perceptions across different challenges, while chi-square analysis identifies varying levels of association between challenges and strategic management practices. The study underscores the importance of addressing these challenges to enhance competitiveness, innovation, and sustainability within the Indian pharmaceutical industry. Recommendations are provided to guide industry stakeholders in developing targeted interventions and strategies to overcome these challenges effectively and foster long-term growth and success.
Article Details
Unique Paper ID: 164715

Publication Volume & Issue: Volume 10, Issue 12

Page(s): 2564 - 2573
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