Management Principles in Global Pharmaceutical Industry

Management principles
in global pharmaceutical
industry

Introduction
In the current business scenario, pharmaceutical industry is
being considered as one of the important knowledge
intensive and highly globalized industries. Analyzing the
Australian Pharmaceutical industry it has been identified
that highly insensitive competition in the particular industry,
various challenges have been aroused in the particular
industry. Amcal, Chemist warehouse and Priceline are the
popular names in the Australian pharmaceutical industry,
which are dealing with the high market challenges due to
intensive competitiveness in the market.

Purpose of the study
The purpose of the study is to shed light on different
management theories in order to relate the situational
impacts on the companies. The strategic initiatives which
have been adopted by these organizations have been
critically compared in case of identifying the most profitable
pharmaceutical company in Australia within coming 2022.

Identification of issues in the competitive
pharmaceutical industry
Bargaining power of the customers: High
Threats of new entrants: Low
Competitive rivalry: High