Examining whether glaxoSmithKline has successful internal innovation

Examining whether glaxoSmithKline has successful internal innovation 1) GSK is a leader in the pharmaceuticals industry with 7 per cent of the world market. Its mission is to better the quality of human life so that the people feel better, live longer and is able to perform the tasks assigned to them properly. This can only be achieved by proper planning and implementation of research and development programmes. GSKs purpose of merger was to improve R D (as it would also obtain technology from outside) because it looks to excel in internal innovation by making use of the knowledge and learning provided by individuals of other organisations. These individuals might be experienced, trained, flexible, committed and help the firm to accomplish its goals which is its primary objective. The main aim of internal innovation is to outperform its competition by implementing new ideas into developing new and better products which are sustainable in the market. GSK focuses on providing drugs at a cheaper rate to the developing countries. GSKs strategy is to nurtu re, distribute and make things easier. It implements its strategies by employing a large number of people in different countries. The employees research to produce new pharmaceuticals to treat the diseases focused on. However, GSK is facing a problem of patent expiry. It has 30 patented drugs that are nearing expiry. So it wants to redefine its range of drugs by focussing on its R D. The individuals involved must have a positive attitude and should be willing to take risks. They should learn from each other and also understand what others are doing. That would help in implementation. Implementation involves the proper utilisation of resources and capabilities of a firm. It involves the management of innovation and focuses on managing politics, control and fighting with change. 2) GlaxoSmithKline wants to ensure that the firm focuses on the best science. It realised that to be successful in future, it needs to be more innovative. So it reorganised its research and development area to improve efficiency and accomplish its goals. It created 70 Discovery Performance Units (DPUs) which focussed on eight therapy areas for future growth of the company. However, GSK successfully completed or extended 21 new drug discoveries in the year 2008. Innovation involves the implementation of ideas into some new product and the new product leads to new opportunities. In case of GSK, it would generate more revenue if the ideas are implemented properly. New technology provides a competitive edge to the firm. The four elements of implementation are leadership, engagement, alignment and extension. The 70 DPUs would affect these four elements. The DPUs are compact, fully authorised, determined and integrated teams which are responsible for a small part of the pipeline associated with the production of a drug. The teams include scientists, marketing specialists, engineers and others from key business domains to work on innovations. The exchange of ideas amongst its own scientists through building alliances and meetings are encouraged. They showcase different compounds and potential products. R D groups of individuals gather and learn about new products and processes. In case of GSK, leadership would focus on creating procedures for innovation and distribute sufficient resources for crucial activities. It would help in the induction of supportive systems and policies and set up adequate infrastructure for achieving the required goals. Engagement would focus on building a knowledge based cultu re, education, progress and mentoring. Alignment would help in building a competent organisation and would bind rewards to accomplishments. Extension would help in examining organisational capabilities and search for other prospects. It would also develop and share lessons learnt. Implementation ensures that the goals and support of management are understood properly. It also involves looking out for people who possess the necessary skills required to meet the project objectives. The internal culture and external environment of GSK would also affect the implementation effort. We can expect disinterest, apprehensions, satisfaction, hostility and competition for resources. The teams might become satisfied with their achievements and their ideas could be clashing with each other. They may lack the necessary skills. This would hinder the future growth of the firm and it would not be able to accomplish its goals. However, engagement would help them overcome the problem. Implementation also involves setting up of scrutinising system which addresses possible technical and market uncertainties arising out of radical, continuous change and competition from the external environment. Radical change involves high risk whereas continuous change involves low to medium risk. This is because radical change has a wider impact on the firm as the failure of the product will demotivate the firm and decrease its revenues whereas continuous change has a marginal impact on the firm because improvements are made to the existing product or service. Radical change involves major streamlining of the firm, product line or market. The case study shows that GSK has a background and the processes that support innovation. It also hires individuals to conduct research and develop new products, encourages employees to try out new ideas, undertake risks and experiment. The first part of these processes involves constructing a structure for innovation. Proper teams and co-ordination between different units in an organisation like GSK are needed for the successful implementation. It needs to organise special training and development programmes for the employees, providing technical knowledge about the product, programmes on marketing the product, focus on building new skills in employees and encouraging cross functional activities. 3) GSK needs to evaluate its total organisational performance because it is large, the external environment factors (political, social, economical, technological and competitive factors), the strategic environment, information systems and structural analysis. An organisation involves human, physical, financial and information resources and how these resources are used in the management, operations, production and integration of ideas and actions. The output is the products and services. However, it needs a process to evaluate the diverse ideas and products because it produces far more ideas and products than it can follow at any given time. Cost plays a crucial role when it comes to evaluating an idea. GSK also needs to evaluate the innovation cost which is the internal cost to develop and distribute and also the true cost to the customer to purchase and use. It needs to calculate the costs for development and marketing, market penetration and sales when evaluating a new product and service. It needs a business plan (expected revenue, cost of producing a product or service and profits to be generated) to commercialise the ideas. The evaluation process helps GSK in assessing the kind of innovations it should continue supporting or initiate support for. The team promoting the product should have the ability to justify the product at each step of the process. It should continue with ideas or products that are generating revenue and doing well in the market. It should also start developing new products which have the potential to do well in the market because that will provide competitive advantage to the firm. It would create new opportunities and customers. The shareholders would not hesitate to invest in the firm if it is doing well because they would get appropriate returns on their investment. The evaluation system is designed to be flexible and helps GSK to discontinue those projects that are not meeting expectations. In other words, those projects are hinder ing the growth of the firm. GSKs disciplined and focussed approach has the most influence on how well it evaluates progress towards stated innovation goals. It sees where and how resources are allocated within R D. It terminated more than 35 per cent of discovery projects following the reorganisation in 2008. Those projects might not be meeting its expectations. The DPUs were given financial support for three years after the termination of the projects. The financial support aids the R D group to focus on granting the best science and the best product for the consumers but at the same time it also gave them tough timelines to produce a profitable product. If the product is not profitable it will reduce the revenues of the firm. In that case the firm would have to discontinue with the product. In 2008, GSK received 30 per cent of its revenues from products that had been in existence for less than three years as an outcome of these innovation efforts. It means its revenue was coming from new products. It gained t he first mover advantage. However, it needed to improve its old products. GSKs widespread internal development efforts often lead to innovations that do not fit with the companys main focus. 4) There are three types of control systems: financial control, strategic control and cultural control. They all have advantages and disadvantages. The advantages of financial control are that it is quantitative and easy to understand. The disadvantages are it can become narrow, internally focussed and analysis paralysis is possible. The example of financial control is that it leads to percentage of profit increase from new products. GSK employs financial control because 30 per cent of its revenue has come from products which have been in existence for less than three years. The advantages of strategic control are that it sets direction, more qualitative and fits environment. The disadvantages are it is hard to justify based on some financials, can lose sight of where the firm is. The example of strategic control is that it leads to increase in market share. The case study shows that GSK employs strategic control because its widespread internal development efforts often lead to innov ations that do not fit with the companys main focus. The advantages of cultural control are that it is very behavioural and qualitative. The disadvantage is it requires managers to be involved on a personal level. The example of cultural control is that it leads to value enhancement. GSK employs cultural control because it develops external discovery teams with other firms or universities or research labs. However, it can be seen that GSK faces a vague institutional environment because it emphasises both on financial and strategic control and firms that prefer strategic control to financial control adopt strict corporate authority. The choice of innovation mode is affected considerably by the firms internal control procedures. Therefore a model was developed to look at the relationship between a firms internal control procedures and preference of innovation mode. Using a sample of 585 Chinese firms, this study tests the proposed model. The findings show that strategic control has a negative relationship with incremental innovation but a positive relationship with radical innovation, while financial control has a positive relationship with incremental innovation but a negative relationship with radical innovation. So, GSK should employ strategic control for radical innovation and financial control for incremental innovation. There is a need to make amendments if a gap is identified between goals and performance. This can only be achieved through proper planning. GSK needs to be more cross functional by rethinking of the business processes. In particular the knowledge, equipment and processes must be managed and controlled properly. The processes used by the firm for its internal innovation must be redesigned and looked upon for improvements to meet its objectives. It will help GSK gain competitive advantage. Key decisions should be made by those involved in the innovative process. They would identify new opportunities and find solutions to the existing problems. GSK should develop new goals if the existing goals do not match its capabilities. The goals must be rational and easily achievable because that would save time and money. The individuals involved must have strong personal idea and ethics with the firms values and goals.

Crisis and conflict are inevitable in capitalist economies Essay

‘Marx believed that capitalism was doomed, and he developed an intricate analysis of the ‘ law of motion’ of capitalist society to prove it’ (Fusfeld 2002, p 50). At one level his argument had a moral basis. He argued that the ‘inherent injustices of capitalism lead ultimately to social and economic conditions, which cannot be maintained’ (Fusfeld 2002, p 50). On another level his argument is sociological: ‘class conflict- between a decreasing number of increasingly wealthy capitalists and a growing and increasingly miserable working class- will lead ultimately to a social revolution’ (Fusfeld 2002, p 50). To conclude his Final argument is economic, that ‘the accumulation of capital in private hands makes possible economic abundance; yet accumulation also leads to depressions, chronic unemployment and the economic breakdown of capitalism’ (Fusfeld 2002, p 50). At each level the idea of ‘conflict is emphasized: conflict between ideal reality, between capital and labor, and between stagnation’ (Fusfeld 2002, p 50). Out of conflict comes change, and in this respect according to Marx, capitalism must give way to another society in which conflict is replaced by ethical, social, and economic harmony. Furthermore, Marx argued that the crisis would become deeper and severe longer as capitalism developed. Student no. Z3220293 However Marx’s analysis of conflict within capitalist societies was limited by his theory of the ‘laws of motion’. He argued that conflict between classes created by an unequal distribution of wealth, and would ultimately lead to an unsustainable social situation prompting the demise of the world capitalist system. Thus, he perceived class conflict as the fatal flaw of capitalism. However his detractors would argue that conflict of some form exists in all human interactions and thus has existed in all political and economic systems, concluding that capitalism addresses this inherently human conflict in order to avoid crisis. In a capitalist society according to Marx, the two great economic interests are those of a capitalist and worker. These two classes stand opposition to each other, since the capitalist can prosper only if the worker is exploited. In this respect capitalism is only the latest in series of social organizations in which one class exists at the expense of another, stated in the communist manifesto. Marxists would further argue that peoples dominated politically or economically by great capitalist nations now bear the burden of exploitation, poverty and unemployment However as a proof of Marx’s errors, his detractors point to the rising living standards of modern nations. ‘The working class has not been subjected to growing misery, and labor unions have gained economic and political power in all major industrialized countries’ (Fusfeld 2002, p 50). Moreover, the working class Student no. Z3220293 has shared the increased wealth, income, and economic benefits that have been spread widely throughout all social classes. In spite of all the ‘concessions’ that have been made to the working class, such as social welfare legislation, union organization and higher living standards Marxists contend that the ‘basic defects of capitalism remain, holding back economic growth and postponing the emergence of the abundant society’ (Fusfeld 2002, p 50). Nevertheless Marx’s prediction of the triumph of socialism and the creation of democratic, egalitarian, and nonexplotive society has not proved accurate. ‘Capitalism was placed on the defensive by the rise of communist regimes in Russia and China, and by the spread of socialism through many of the less-developed countries’ (Fusfeld 2002, p 60). But in most instances, these non-capitalist economies developed authoritarian political regimes, new forms of economic and social inequality, and new aspects of exploitation. Ultimately Marx argued, as Fusfeld states ( 2002) the economy could achieve widespread abundance and produce enough for all, and at that point in human history all people could be completely free, both politically and economically. Further more Marxist economics suggested that capitalism could not achieve this Student no. Z3220293 goal, as it prevented the full development of modern technology and resulted in periodic stoppage of capital accumulation. However, it is evident that under capitalism technology has flourished. More so capitalism has provided the push for new productive industries, as it is a continued to growing and change. Thus such an economy offers more opportunities then a stagnant one. For example China is the manufacturing hub of the globe. Even though China has its roots in communism it is still regarded as an extremely influential capitalist society. Its cities are booming. There are more building cranes in china than in all the United States. China’s super-highways are filled with modern cars. Its research and development centers are state of the art. At the rate it’s growing, China will soon be the largest economy in the world. In these respects it is evident to conclude that under capitalism economies have grown and benefited, due to its productive nature. Further more, in a Marx perspective, labor under capitalism is exploited as it is not paid the full value of the products and services it produces. ‘The capitalist employs workers at the current wage rate and works them for as many hours each day as possible, making sure that the value of the workers’ output is greater than the wage paid’ (Fusfeld 2002, p 61). This difference between the wage and the value added by the worker, which Marx refers to as ‘ surplus value’, becomes the capitalist profit. Exploitation of the worker can be intensified, and the ‘ surplus Student no. Z3220293 value appropriated by the capitalist can be increased, by an employer’s efforts to achieve lower wages, longer hours and an employment of greater number of women and children. Marx was correct in some respects, for example developing countries at present are experiencing high rates of exploitation. Women and children whom work in such exploitive environments in china for example for less then a few dollars a day are the truth in Marx’s theory. More so, Marx critique of capitalism included a forecast of its inevitable break down. In some instances capitalism has served as an unstable society, which has been suffocated with conflict and crisis. For example the great depression and the 1987 recession. In both instances the economy had if not almost hit bottom. In a Marxist view this could be concluded as the demise of capitalism. However his detractors would argue that conflict of some form exists in all political and economic systems, concluding that capitalism addresses this inherently human conflict in order to avoid crisis. Which in some respects is true. For example on black Monday of the October 1987 when a stock collapse of unprecedented size lopped twenty-five percent off the Dow Jones industrial average. The collapse, larger than that of 1929, was handled well by the economy and the stock market began to quickly recover. More so during the great depression certain strategies were adopted to deal with the crisis. The ‘ new deal’ was the name given by President Franklin D. Roosevelt of programs between 1933-1938 with the goal relief, recovery and reform of the United States Student no. Z3220293 economy during the great depression. The ‘ new deal’ had three components, direct relief, economic recovery and financial reform. In these respects one can observe the recovery of capitalist economies and their ability to continue to grow. To conclude it is evident that crisis and conflict is inevitable in capitalism however such an economic system is able to adapt and recover from such conflict. References student no. Z322093 Campbell, D 1996, the failure of Marxism-the concept of inversion in Marx’s critique, Dartmouth Press, London Cohen, G A 1978, Karl Marx theory of history, Oxford University Press, London Culter, A, Hindess, B, Hirst, P & Hussain, A 1977, marx’s ‘capital’ and capitalism today, Routledge &Kegan Paul Ltd, London Fusfeld, D 2002, the age of the economist, 9edn, Addison Wesley Press, Harman, C 1995, how Marxism works, 5edn, Bookmarks Press, Sydney. Worsley, P 2002, Marx and Marxism, revised edn, Routledge Press, London

Things You Wont Like About Economic Argumentative Essay Topics and Things You Will

Things You Won't Like About Economic Argumentative Essay Topics and Things You Will It's possible to also restate the ideas which you've discussed in the body paragraphs in order to make your point valid. The very first step is to think of a terrific topic. If you're struggling, you always have the option to obtain help by utilizing an essay writing service such as ours. Even in the event you seek for assistance from a specialist, make sure they speak about something which will sound better while presenting your argument. Type of Economic Argumentative Essay Topics Essays are utilised to find out more about your reasons for applying to the program, there are scores and scores of possible topics you could be requested to compose an essay on think about the exceptional features of the institution, eg, a liberal arts college will. However many papers you must write for your college career, economics and argumentative essays will likely supply you with the hardest time. Always keep in mind that the success of your research is dependent on it. The intent of assigning an essay to middle school students is to make awareness and permit them to develop writing skills. Economic Argumentative Essay Topics Help! There are five kinds of argumentative essays. There are three sorts of argumentative essays. It is among the so many types of essay topics in which you will be required to disagree and take a stand. Creating a fantastic argument essay starts with a list of argumentative essay topics. Top Economic Argumentative Essay Topics Choices You must have skills to compose a great essay. Argumentative essay topics cover a wide selection of subjects, and can be quite persuasive if a top quality essay represents them. Writing an essay isn't a mean task. Argumentative essays are a few of the best that you can write as a student. The conventional five-paragraph essay is normal in writing argumentative essays, but it's only one means to write one. Every bit of writing, whether it's a journal entry or an official essay, must be typed and stapled. The thesis gives you a guideline on how best to go about with writing the essay. You don't need to lose grades as a result of incorrect essay format. Details of Economic Argumentative Essay Topics You should develop an excellent argument, which encompasses not just your primary point, but also all the pieces which make this up. Getting in a position to compose a strong argument can help you succeed in society. The majority of the folks have a tendency to run away from politics and thus the politics essays too, therefore it is quite important to grab the eye of the readers till the conclusion of the essay and that would be much difficult I know. When you are requested to decide on a great topic for your argument, start with something you're acquainted with. An academic essay based on argument will need a topic which should be on a matter of controversy that isn't only interesting to you, but to your readers. When you get a task to compose an essay on a social issue, you're given a chance to open an exciting discourse. To compose a terrific argumentative essay the students first must investigate several sides of the argument, which enables them to make an educated stance. What the In-Crowd Won't Tell You About Economic Argumentative Essay Topics If you're writing a cause and effect obesity essay, you can mention unique causes of obesity and the way it can impact the general health of someone. If when you are preparing a report you just analyze specific literature, the essay demands an excellent penetration into the issue. There are more than a few reasons why obesity occurs. If you are fortunate enough, and every one of the individuals close to you are thin and slender, the issue still exists. There are lots of aspects about a s port that may be argued in an essay. A great argumentative essay is going to be based on established or new research as opposed to only on your ideas and feelings. Many financial phenomena are explained by at least two theories. You are able to expand into research by backing a specific theory. It is extremely important to pick a great topic as a way to compose a terrific paper. Since you may see, there's a multitude of different argumentative paper titles you'll be able to utilize. The most suitable subject is able to make your paper very interesting to read. If you wish to think of the superior essay on microeconomics topics by yourself, the very first place you should search is the internet. In choosing your topic, it's frequently a good idea to start with a subject which you already have some familiarity with. Remember whenever you're choosing your topic to select one that you love. Always start with something that you are conversant with when selecting a very good t opic. There are some main things you will need to learn about before you even begin picking social issues essay topics. It's possible to choose from a plethora of intriguing places and categories. When deciding on your social problems topic, bear in mind that it's always much better to write about something you're already more or less acquainted with.

The Different Stages Of Human Development - 1617 Words

The different stages of human development can be vast in dimension. The chosen age group was childhood (3-12 years) or also called the juvenile period consist of various features of its age group. Early to middle childhood features such as physical, emotional, cognitive, and social aspects have their growing and specific developments compared to other human developmental stages. Also, different theoretical perspectives will substantiate the selected developmental stage and which is most useful. The importance of the studies and different viewpoints will shed light on childhood structures to appreciate human growth and behavior. Childhood Features The childhood physical characteristics are dissimilar between the stage of early†¦show more content†¦252). The emotional needs of the child come into play alongside with their physical needs. Emotional During this phase, children are not entirely dependent on their parents but tend to become more independent with even learning and adopting adultlike behaviors. Thompson and Nelson (2011) that it s a possibility that at this stage middle childhood shows proof of stress and/ pathological/traumatic lesions that are associated with the initial adoption of adultlike behaviors (p. 254). The emotional climate also affects the child’s feelings such as the parent’s temperaments towards child during discipline creating socio-emotional outcomes based on parental nurturance (Avants et al., 2011). Parental nurturance and the involvement in a child’s life can impact their independence where different aspects of warmth and availability of parent care, expressive and verbal responsivity, paternal connection, emotional environment, and encouragement of maturity are important. Children are learning more complex tasks where they are attempting to understand and transition to self-sufficiency. With new conduct occurring alongside with understanding their emotions impacted with sexual maturation, hence there are also cognitive aspects at work. Cognitive The biological aspects of both somatic and neurological now involve the gradual maturity of the child’s brainShow MoreRelatedThe Theories Of Human Mind And Behavior1138 Words   |  5 Pagesthe scientific study of all the aspects of human mind and behavior. Psychology is broadly categorized in various branches that deeply analyze different concepts of human behavior. In Human Growth and Development, full perceptions of the process of human development are covered in detail evaluating various stages of human growth. As such, this aspect provides an overview of the stages of human life from birth through the middle stages to the adult stage. Some various theories are set to provide someRead MoreAdolescence Is A Critical Time For A Human1405 Words   |  6 Pages Identity development is a fluid process throughout the human life cycle. Seemingly, adolescence, development after the age of 12 through young adulthood, is the most difficult transitive period in the life cycle. Adolescence is a critical time for a human, because it is the period when various personal roles are examined and one tries to assimilate these roles into a perception of self. Adolescents are struggling to identify different areas in their life such as religious preferences, sexualityRead MoreHuman Development Paper854 Words   |  4 Pages Human Development James West PSY/280 September 26 2012 Robert Keele Human Development Human growth and development starts from the moment a child is conceived and continues until the day we die. There are many different stages of development all depending on the person’s beliefs on how we develop. All theories explain a specific growth and development for a specific time for an individual starting from birth to the time of their death. Not all the theories are agreed on becauseRead MoreThe Theory Of Human Development1060 Words   |  5 PagesTheories of human development deliver a framework to deliberate human growth, development, and learning. Understanding the theories can deliver useful contents into individuals and society a set of principles and concepts that describe life span development. Development perspectives are the psychoanalytic theory, behavior theory, humanistic approach and cognitive theory. Each theory focuses on different aspects of human development. The psychoanalytic is â€Å"the approach stating that behavior is motivatedRead More The N ature of Child Development Essay1172 Words   |  5 PagesHuman development has been a subject of interest since ancient Greece and Rome. Different approaches derive from two basic directions: the nativists` and empiricists` ones. The latter method is to regard human development as a gradual change which has been influenced by the individual`s experience .On the other hand, the former approach has found its roots in the biological structure of the human organism which considers our development as a series of stages. However, referring to human developmentRead MoreCounselling Theories Essay1212 Words   |  5 Pagesï » ¿Counselling Theories Assessment 1 1. Explain the concept of nature versus nurture, using yourself as a case study to illustrate the theory. The concept of nature versus nurture is that human behaviour is influenced by genetic information inherited from our parents and also by environmental and social influences. My appearance such as short sightedness and pigmentation (freckles) I inherited from my parents. This means like my father I must wear glasses to drive and many other aspects ofRead MoreUnderstanding Piaget Theory And Information Processing Theory1208 Words   |  5 Pageshas many different aspects that have been debated many years ago. Developmental psychologists try to explain cognitive development approaches which describe the process of human s thought. One of the developmental psychologist who studied on the area of cognitive was Jean Piaget. Jean Piaget a Swiss psychologist was the first developmental researcher who has extensive research on cognitive development. In addition, the revolution of Jean Piaget’s cognitive theory has changed the development psychologyRead MorePsychoanalytic Theories Explain Development As Unconscious Processes That Are Heavily Colored By Emotion846 Words   |  4 Pages Psychoanalytic theories explain development as unconscious processes that are heavily colored by emotion (Santrock 2014). Sigmund Freud was a psychoanalytic theorist who established a psychosexual theory believing that development occurred during life stage conflicts between a source of pleasure and the demands of reality. Many theorists after Freud believed that there was a good basis in Freud’s theory but it relied too much on the idea of sexual instincts. One such theorist was Erik EriksonRead MoreLifespan Perspectives1061 Words   |  5 PagesLifespan perspectives Although humans seem very different from one another, each human develops partly like everyone else, yet partly like no one else. Most of the time human’s attention is focused on one another’s unique qualities instead of realizing how similar humans really are. In fact, as humans, almost everyone has traveled some similar path. People such as, President Barack Obama, Joan of Arc, and Marilyn Monroe shared similar paths of life span development. Each one began to walk at approximatelyRead MoreThe Stages Of Psychological Development1151 Words   |  5 PagesEight Stages, humans go through eight stages of psychological development. Each stage occurs at different age groups and they all contain different characteristics. Birth to one year old would be considered the first stage of psychological development. During this time period, the human develops trust towards others and on the negative side the human would develop mistrust for others. One to three years old would be the second stage of psychological development. During this stage, the human learns