Mental Wealth: Impact of National Culture on Pfizer's Financials in UK

This report presents a reflective account of research conducted on the impact of national culture on the financial performance of the pharmaceutical sector in the UK, specifically focusing on Pfizer Ltd. The research utilizes Kolb's learning cycle to analyze the influence of Hofstede's Cultural Dimensions on business outcomes. The account details the research process, including setting objectives, using questionnaires, and applying positivism philosophy and deductive approaches. Key observations involve the impact of cultural dimensions like individualism, power distance, and long-term orientation. The report concludes that Hofstede's theory provides a valuable framework for evaluating the influence of national culture, with specific factors like high power distance and long-term orientation negatively impacting financial performance, while high uncertainty avoidance appears to have a positive effect. The report also suggests future research directions, including the use of qualitative methods and Gantt charts for improved project management.

MENTAL WEALTH:
PROFESSIONAL
EXCHANGE AND
APPLIED RESEARCH

Table of Contents
Research Topic: An Impact of National Culture on Financial Performance of Pharmaceutical
Sector in UK. A research work on Pfizer Ltd..................................................................................1
Assessment 1: Poster Presentation...................................................................................................1
Covered in poster....................................................................................................................1
Assessment 2: Reflective Account...................................................................................................1
Introduction......................................................................................................................................1
Main Body.......................................................................................................................................1
Concrete experience...............................................................................................................1
Reflective Observation...........................................................................................................2
Abstract conceptualisation......................................................................................................2
Active extermination..............................................................................................................2
CONCLUSION................................................................................................................................3
REFERENCES................................................................................................................................3

Research Topic: An Impact of National Culture on Financial Performance of
Pharmaceutical Sector in UK. A research work on Pfizer Ltd.
Assessment 1: Poster Presentation
Covered in poster
Assessment 2: Reflective Account
Introduction
The current assessment comprises of a reflective account in the research poster which
was lead on the topic of an Impact of National Culture on Financial Performance of
Pharmaceutical Sector in UK for which selected company was Pfizer Ltd. Reflective account
forms a vital part of a research as it provide a better way to evaluate and analysis of learning and
experience to get better understanding for a project or task accomplished. To ensure proper
reflection on learning from current research project utilisation of Kolb's learning cycle has been
made.
Main Body
The current reflective account is based in the research project undertaken by me on the
topic of Impact of National Culture on Financial Performance of Pharmaceutical Sector in UK to
get a deeper understanding about the impact of social and cultural aspects of a nation on the
financial performance and decision making of firm. To ensure a proper description and
evaluation about my learning and experience utilisation of Kolb's learning cycle is made a
discussion about stages of which is provided below:
Concrete experience
The current learning and experience is based on understanding and knowledge gained by
me while performing and leading out a research poster which was based n the topic of Impact of
National Culture on Financial Performance of Pharmaceutical Sector in UK. For this research
project, a series of action was taken by me which comprises of setting of research objectives and
hypothesis along with better understanding about research method and use of questionnaire for
data collection.
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Reflective Observation
The main observation made by me during current investigation is based in evaluation of
Hofstede’s Cultural Dimensions Theory along with its application to get better information
regarding the distinguish between national culture and their impact and influence over the
business and their performance based on some positive and negative dimension of social and
cultural aspects of a nation. It has been learnt by me that countries with high individualistic
behaviour, high power distance along with having a long term orientation leads to an adverse
impact on performance of a firm as these countries have different type of operating costs
comprises of transportation and agency cost along with issues of information asymmetric.
Further, it has been also observed by me during the current research project and investigation
that nations which are having high level of uncertainty avoidance, high masculine and
indulgence level of cultures seemed to attain better financial performance for firm by the way of
resolving uncertainties, effort assertive and along with more cooperative behaviour. Thus,
current investigation is viable in leading enhanced understating and experience about the Impact
of National Culture on Financial Performance of Pharmaceutical Sector.
Abstract conceptualisation
Through current research project a better understanding about the use and implication of
research method was learned by me. It has been experienced by me during current investigation
that use of positivism philosophy and deductive approach provides an easy and systematic way
to conduct a quantifiable research. Further, quantitative method of investigation ensures
measurable result and more effective permeation of collected fact. At last, adoption of random
sampling method by me was also viable and suitable as ensures selection of prominent number
of participants for effective study.
Active extermination
The current investigation seemed a successful and vital for me as better development of
skills and knowledge was lead by it. Bit still, in future use and implication of some other resrch
method and instrument could also be made by me for better results that comprises of qualitative
method and interview for data collection to have more in-depth information for study. Further, to
overcome the issue of time and resources management adoption and utilisation of Gantt chart
could also be made to have better management and complete research project with greater
efficiency.
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CONCLUSION
On the basis of current project a conclusion can be drawn that Hofstede’s Cultural
Dimensions Theory lead to better evaluation of impact of National Culture on Financial
Performance of a firm. Further, a summarisation can be made that a some factors like high power
distance along with long term orientation lead negative impact on financial performance where
as high uncertainty avoidance ensures positive aspect of national culture.
REFERENCES
Books and journal
Aleqedat, H.Q. and AL-Rawash, S.Z., 2020. International Journal of Business and Social
Research (IJBSR) 7The Impacts of Hofstede’s Cultural Dimensions and Ownership
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