Performance Of Pharmaceutical Firms Research Articles

Entrepreneurial Skills and Performance of Pharmaceutical Firms in Anambra State Nigeria

This study is an eye-opener for pharmaceutical students to learn from the experience of older pharmaceutical retail businesses on survival skills required in Nigeria's health sector. The study examined how registered pharmaceutical retail enterprises in Nigeria's Anambra State performed with their entrepreneurial qualities. The research used a descriptive survey methodology. Using Taro Yamane’s statistical technique from 1961, a sample of 180 community pharmacy practitioners in the Nigerian state of Anambra with 328 registered licenses was selected. Regression and correlation analyses were the utilized statistical methods. The study results show that entrepreneurial mentoring and innovative capability significantly favours the success of pharmaceutical retail firms in the Nigerian state of Anambra. The study concludes that developing entrepreneurial abilities is essential for improved performance, regardless of how skilled community pharmacy practitioners may be. There were some recommendations in keeping with the study's findings.

Influence of Goal Setting and Branch Network of Asset on the Performance of Pharmaceutical Firms in Nigeria

Goal Setting is vital to the survival and sustainable performance of any organization in the face of the increasingly dynamic business environment. This study investigated the influence of goal setting and branch network of asset on the performance of pharmaceutical firms in Nigeria. A total of 55 copies of the questionnaire were administered to employees of Divine Essential Formulations Limited, out of which fifty-three (53) were retrieved and analyzed. Descriptive and inferential statistics multiple regression through Structural Equation Modelling (SMART PLS) were used for the analyses. The results show significant relationships between strategic planning and the firm's performance variables. The results also indicate that goal setting has significant effects on branch network of the firm at (?= 0.782, R2=0.611, t- statistics=8.970>1.96, P-value =0.000 <0.05). Also, the findings revealed that environmental scanning has considerable influence on a firm's market share at (?= 0.840, R2=0.706, t- statistics=23.685>1.96, P-value =0.000 <0.05). The results also indicate that strategy formulation has significant effects on a firm's profitability at (?= 0.811, R2=0.658, t- statistics=13.297>1.96, P-value =0.000 <0.05). It is therefore recommended that Divine Essential Formulations Limited management should regularly update its mission statement, sustain clear lines of authority, regularly appraisal the quality of its internal operations in line with the current happenings in the business environment, and update its key performance indicators to track the success of strategic initiatives and provides adequate financial resources needed forthe firm’sstrategy formulation, implementation, and evaluation.

Exploring the Influence of Strategy Implementation on the Performance of Pharmaceutical Firms in Nigeria.

Exploring the Influence of Strategy Implementation on the Performance of Pharmaceutical Firms in Nigeria.

The Moderating Effect of Inter- Organization Systems on the Relationship between Supply Chain Relationship Management and Performance of Pharmaceutical Firms in Kenya

systems on the relationship between supply chain relationship management and performance of pharmaceutical firms in Kenya
 Methodology: This research adopted a descriptive research design. The target population of interest in this study were the 22 local pharmaceutical manufacturing and 149 importing firms that act as subsidiaries making a total of 171. The study sample was drawn from the list of 171 pharmaceutical firms, where various categories with the relevant information for the study were drawn. The study adopted a census sampling technique. The data was analyzed using SPSS 22 version by making use of multiple regressions analysis which helped to generate a weighted estimation equation (OLS) that was used to predict values for dependent variable from the values of the independent variable.
 Findings: The results showed that inter-organization systems significantly moderated the relationship between supply chain relationship management practices and organizational performance.
 Recommendations: Based on the study findings, it was recommended that management in pharmaceutical firms should integrate their systems with those of customers such as electronic inventory management, electronic customer feedback; integrate electronic sharing of market information among other IT systems. This is because the study confirmed that integration of IT systems by pharmaceutical companies would lead to improvement in terms of speed and quality services, waste elimination, increased inventory management, responsiveness, accuracy, customer feedback and reduced lead-times

The Effects of Process Alignment on Performance of Pharmaceutical Firms in Kenya

Purpose: The purpose of this study was to evaluate the effects of process alignment on performance of pharmaceutical firms in Kenya
 Methodology: This research adopted a descriptive research design. The target population of interest in this study were the 22 local pharmaceutical manufacturing and 149 importing firms that act as subsidiaries making a total of 171. The study sample was drawn from the list of 171 pharmaceutical firms where various categories with the relevant information for the study were drawn. The study adopted a census sampling technique. The data was analyzed using SPSS version 22 by making use of multiple regressions analysis which helped to generate a weighted estimation equation (OLS) that was used to predict values for dependent variable from the values of the independent variable.
 Findings: The correlation and regression results revealed that process alignment had a positive and significant relationship with performance of pharmaceutical firms. The null hypothesis was rejected which indicated that there was no significant relationship between resilience building and performance of pharmaceutical firms in Kenya.
 Recommendations: Based on the study findings, it was recommended that pharmaceutical firms should align their processes with those of the customers. The firms are encouraged to adopt management styles which are compatible with the clients in terms of mission and vision, improve or maintain their delivery standards such as on time and quality delivery, implement marketing strategies which are compatible with customers’ standards and or exceed their expectations, and finally the management should strive to meet the customer expectations by improving the characteristics of the products. According to the regression analysis results, these activities enhance the performance of the firm.

Effects of Resilience Building on Performance of Pharmaceutical Firms in Kenya

The purpose of the study was to evaluate the effects of resilience building on performance of pharmaceutical firms in Kenya. The research adopted a descriptive research design. The target population included 171 (22 local pharmaceutical manufacturing and 149 importing firms). The study adopted a census sampling technique. The data was analyzed using SPSS 22 version. The study made use of multiple regressions analysis which helped to generate a weighted estimation equation (OLS) that was used to predict values for dependent variable from the values of the independent variable. The regression results revealed that resilience building had a positive and significant relationship with the performance of pharmaceutical firms. It was found that resilience building is satisfactory in explaining the performance of pharmaceutical firms which was supported by a coefficient of determination also known as the R2 of 57.5%. The null hypothesis was rejected which indicated there is no significant relationship between resilience building and performance of pharmaceutical firms in Kenya. Thus, there is a significant relationship between resilience building and performance of pharmaceutical firms in Kenya. The study recommended that pharmaceutical firms should develop and implement the resilience building practices to increase reliability, visibility, adaptability and build reputable brands. Among the practices which are of great significance are those to do with timely and effective response on new customer customers preferences, stable and assured supply, innovativeness to new preferences and preparedness to deal with supply disruptions. The study also recommended that management in pharmaceutical firms should implement the aforementioned practices since they lead to an improved firm performance in terms of sales, customer service and efficiency Keywords: Resilience building, performance, pharmaceutical firms, Kenya

Cost Control And Financial Performance Of Pharmaceutical Firms In Nigeria

This paper examined the impact of cost control on financial performance of pharmaceutical firms in Nigeria from 2010 to 2019. Secondary data were used in this study. The secondary sources of data were sought from published annual reports of the six quoted pharmaceutical firms in Nigeria. The variables used in the study include; Profit after Tax (PAT), Cost of Raw Material (CRM), Selling and Distribution Expenses (SDE), Salaries and Wages (SWE), Research and Development (RDC) and Training (TEC). Panel regression analysis was employed to evaluate the impacts of cost control on financial performance of pharmaceuticals firms in Nigeria. The results revealed that cost control has significant influence on financial performance of pharmaceuticals firms in Nigeria. The study recommended that the management of the firms should adopt modern strategic cost management method for effective operation in the organization in order to enhance their performance.

Generic Strategies and Performance of Pharmaceutical Manufacturing Companies in Nairobi County, Kenya

Pharmaceutical industry has been facing a lot of competition both from the inside and outside the country (importers of raw materials who also manufacture finished product). A report by the Kenya Pharmaceutical Sector Profile in 2018 indicated that imports have been rising sharply and grew by more than 30% between 2017 and 2018 in other sectors but a decline from the pharmaceutical manufacturing sector which could be attributed to the low-quality pharmaceutical products. The aim of this study was to analyze the generic strategies and performance of pharmaceutical manufacturing companies in Nairobi County, Kenya. The specific objectives were to: assess the effect of cost leadership strategy, differentiation strategy and focus strategy on performance of pharmaceutical companies in Nairobi County, Kenya. The study was informed by Porter’s Five Forces Model and Resource Based View theory. The study used descriptive research design. The population of this study was all the 22 pharmaceutical manufacturing companies in Nairobi County. The target population was the managers in the pharmaceutical manufacturing companies. The study was a census of all pharmaceutical manufacturing companies in Nairobi. A structured questionnaire was used for data collection. The questionnaire was pilot tested to determine its validity and reliability. The study used primary data which was gathered from the managers. Data collected was organized in spreadsheets for the purpose of analysis. It was coded and entered in Statistical Package for Social Sciences (SPSS, Version 22.0) for analysis. Correlation and regression analysis were conducted to find the relationship between the independent and dependent variables. The study found that cost leadership strategy, product differentiation strategy and focus strategy positively and significantly influenced performance of pharmaceutical companies in Nairobi County, Kenya. The study concluded that managing the production expenses enhances business performance because of increased profit value. Also, the study concluded that using technology to automate business operations lowers the cost thus increasing profitability. In addition to that, the study concluded that providing high quality products to customers builds customer loyalty which translates to improved performance. Similarly, the research concluded that lowering prices relative to that of competitors attracts more customers leading to increased sales volume. It was recommended that pharmaceutical firms should always aim at lowering the cost of production to reap optimal profits. However, these products should meet the quality demands in the market. It was also recommended that businesses should conduct customer satisfaction surveys to bridge the niche that may be identified. This way, businesses will be able to offer the relevant products and services and gain customer loyalty which eventually leads to increased profitability. In addition, it was recommended that non price competition strategies such as product packaging should be adopted by pharmaceutical firms to increase profitability. Customers would prefer to buy uniquely packaged products as they appear appealing. Future areas of study should focus on other competitive strategies since the three generic strategies that were identified did not account for 100% of the variation in performance of pharmaceutical firms.

Effect of Technology Capabilities on Sustainable Performance of Pharmaceutical firms in Thailand with moderating role of Organizational Culture

Sustainable performance is necessary for long term existence of any business. Implementation of technology capabilities play important role in sustainable performance of any organization and especially for pharmaceutical firms. Therefore, the basic objective of current study was to examine the influence of technology capabilities (Technical Science, Level of Skills and Physical tools) on sustainable performance of pharmaceutical firms in Thailand with moderating role of organizational culture. To accomplishthe purpose of study, the quantitative research approach with cross sectional method was adopted. This study found that technology capabilities have significant influence on sustainable performance of any organization and especially for pharmaceutical firms. Study also found significant moderating role of organizational culture between the relationship level of skills and physical tools with sustainable performance of any organization and especially for pharmaceutical firms. This study offers new information to the management regarding decision-making process. The findings will assist top management in planning for sustainable performance, implementation of technology and organization culture, especially in the context of pharmaceutical firms in developing countries

The effect of internal control on the performance of pharmaceutical firms in Vietnam

This article analyzes the impact of internal control on the performance of pharmaceutical companies, providing additional empirical evidence on the effects of internal control on performance. The research method used includes surveys through questionnaires distributed among pharmaceutical companies to assess internal control and each element of internal control of these firms. Quantitative research was carried out with SPSS 25 software. The results show that monitoring, information and communication are the factors that have the strongest impacts on the performance of pharmaceutical companies. This can be explained that, for pharmaceutical companies, good monitoring and information and good tradition will positively affect the effectiveness of internal control in particular and the performance of the business. Based on the research results, the author proposes some recommendations to improve the effectiveness of internal control, thereby contributing to improve the performance of pharmaceutical enterprises.

Direct and Mediated Ties to Universities: Scientificc Absorptive Capacity and Innovation Performance of Pharmaceutical Firms

Direct and Mediated Ties to Universities: Scientificc Absorptive Capacity and Innovation Performance of Pharmaceutical Firms

Intellectual capital and performance of pharmaceutical firms in India

Purpose– The purpose of this paper is to study the relationship between intellectual capital (IC) and performance of pharmaceutical firms in India. The secondary objective is to propose and test modified models of Value Added Intellectual Coefficient (VAIC™) method.Design/methodology/approach– Data on 22 large pharmaceutical firms collected for empirical investigation. Return on assets and return on sales are performance variables. IC and its components – human capital, structural capital and relational capital (RC), are predictor variables. Three extended and modified VAIC™ models (e-VAIC™) are proposed. Multiple regression technique is applied on pooled data to draw inferences.Findings– Results show instances of positive relationship between IC and performance variables. RC, the new variable, does not demonstrate statistically significant relationship with performance variables.Research limitations/implications– Due to inadequate reporting of IC and its components, availability of data on various proxies is difficult. The new models proposed in this paper can be a template for future research and model development.Practical implications– VAIC™ model, the proposed models (e-VAIC™) and the result analysis can be useful for evaluation and value creation purposes.Originality/value– Previous researchers use original VAIC™ model. This paper modifies and extends the model in accordance with contemporary description and typology of IC. Inclusion of RC as a variable in VAIC™ model and use of new proxies for components of IC are the novelties of this paper.

Assessment of Performance of Pharmaceutical Firms making Drugs for Specific Diseases Prevalent in India: A Data Envelopment Analysis Approach

There exists a lot of diversity in Indian pharmaceutical environment in various aspects. We have applied Delphi Technique to arrive at specific prevalent diseases in India and identified 24 pharmaceutical firms making drugs for these diseases. We used data envelopment analysis (DEA) approach to find out the efficiency of firms and peers of inefficient firms. Tobit regression has been used to get the determinants of efficiency.

Technological knowledge and firm performance of pharmaceutical firms

How efficient are firms at utilizing their technological knowledge stocks? In this paper we focus on a firm's breadth and depth of technological knowledge and investigate their differential effects on two performance measures: return on capital and sales growth. Using a sample of 29 pharmaceutical firms we conduct data envelopment analysis (DEA) to determine those firms that are the most efficient converters of breadth and depth of technological knowledge into performance, and the knowledge dimension that the inefficient firms ought to focus upon to improve their performance.