Q1) Discuss Square Pharmaceuticals Ltd.’s business strategy that allowed it to have a greater market share in the pharmaceutical sector.
Q2: Discuss three possible goals that the company could propose to realize its vision in the long-term, starting with the vision and mission of the company.
Q3) Discuss the potential problems that a company could face if they fail to recognize the importance linking their departments (Accounting & Finance Marketing and Sales Administration and Human Resource Supply Chain and Production).
Q4) Referring back to Appendix “A” and “B”, compare the organizational structures at Square Pharmaceuticals Ltd. and Watson Pharmaceuticals Ltd. Taking into account certain organizational principles, such as:
Q5) Although Square Pharmaceuticals Ltd’s Supply Chain Department has a human resources plan that allows the department to meet its human resources needs, we need to critically review some of the factors that could affect that plan.
Q6 Discuss and make recommendations (if applicable) regarding the human resources practices at Square Pharmaceuticals Company Limited with respect to:
Q7) In what ways is Square Pharmaceutical Ltd’s business strategy tied to its human resources strategies? This will help Square Pharmaceutical Ltd achieve its overall objective.
Any organization’s business strategy reflects its market management.
The firm’s business strategy reflects its ability to sustain itself in the market.
The business strategy must serve the long-term purpose of the company.
Square Pharmaceuticals Ltd (SPL) is the foundation of the company’s business strategy.
The company’s mission is to provide transparent, high-quality service and products to customers.
Two strategies have been adopted by the company to achieve its business goals in international markets.
The cost leadership strategy is the first strategy. It involves selling the product at a lower price than other companies (Prodhan 2017,).
SPL’s business strategy is to identify the typical customers and sell the products strategically at the lowest prices to them (D. Banker Mashruwala, Tripathy 2014).
This strategy allows the firm to have a higher percentage of customers on the international market and also increases its market share.
According to information on the company’s website (Square Pharmaceuticals Ltd 2017, 18.64% of the global market is held by the company).
The company also focuses on its competitive advantages in the international market.
The company implemented the focused differentiation strategy to ensure that it is competitive in the global marketplace.
This strategy involves the delivery of the product early relative to other competitors on the market.
This strategy allows the company to secure its market share by delivering innovative drugs to the market before the rest.
The company has also introduced generic drugs like Clofenac and Metronidazole as well as Cotrimoxazole and Ampicilin.
This business strategy not only increases the market share for SPL in international markets but also allows the firm to increase band loyalty.
This strategy focuses on the differentiation of the company within the global market by providing the product or service to customers before any other competitors (Santos Vijande et. al., 2012).
This business strategy, which SPL has adopted, allows the company to easily enjoy a greater market share on the international business market.
These strategies also confirm the firm’s sustainability in their industry.
This is evident in Square Pharmaceuticals Ltd.’s case study. Square Pharmaceuticals Ltd. is one of the most successful companies in the industry, and it has been operating in 36 countries worldwide (Square Pharmaceuticals Ltd 2017.
The organization’s vision is aimed at achieving its goals in the global marketplace.
SPL is a pharmaceuticals company. Therefore, its mission and vision are directed towards the well-being of society. (Bizstudyportal 2017,).
The organization’s three objectives could be to conduct transparent business operations, provide innovative and high-quality healthcare relief to the population and ensure the wellbeing and benefit of all stakeholders.
SPL is committed to long-term sustainability on the global market and expanding the context of its business operations.
SPL emphasizes transparency in business operations, which includes ethical and legal considerations of the company within the industry.
This objective reveals the operation of the company’s business on the basis the market mechanism.
The company will continue to operate in the global context, within the legal and social frameworks that promote ethical consideration and morale.
Based on the nature and purpose of SPL, the next objective of the company is to serve the public.
Being a pharmaceutical company, the company has been established to serve people in healthcare.
The company’s objective means that its goal is to provide high-quality health care for customers.
Innovative production is also an objective of the company in order to offer better healthcare products and services to customers.
SPL’s third objective is to ensure the well-being of its stakeholders.
SPL’s stakeholders are employees, vendors, suppliers, and investors.
The wellbeing of stakeholders is not only about the well-being of customers through the provision of better, more innovative healthcare products and services, but also the material and social betterment of all people involved in the business operations.
It is clear that the company is committed to transparent business operations for the benefit of all stakeholders, as well as customers, within the legal framework of the global context.
Square Pharmaceuticals Ltd. has several departments. Each department is responsible for a different business operation and the various organizational functions (Bizstudyportal 2017,).
Each department is linked to the other for efficient business operations and delivery.
Each department, or all of them together, ensures that the business operations are carried out in an effective manner.
The co-existence and proper functioning of different departments is crucial for the smooth running of business operations.
The Accounting department, for example, is linked to the Finance department.
The financial department calculates the profit, cost, and loss of various financial activities. On the other hand, the Accounting department works on calculations that are based on the company’s business operations.
The Accounting department is responsible for providing salaries and other expenses.
The Sales and Marketing departments are interconnected.
Successful marketing is key to the success of the product’s sale.
The sales department cannot sell the product if the marketing department doesn’t promote it.
The production is managed by the Supply Chain department.
The Supply Chain department is responsible for the production department.
The Supply Chain buys the raw materials, machinery, equipment, and official work necessities. It also purchases food for staff management and production (Square Pharmaceuticals Ltd 2017.
The Supply Chain department is responsible for the production of company products.
The Administration department and the Human Resource department are also interdependent.
Administration is responsible for all administrative tasks, including the operation of the Human Resource (HR).
The HR department, on the other hand ensures that the entire organization’s HR management is taken care of.
It is clear that all departments are interconnected and dependent on each other for the smooth and successful operation and growth of the company’s business.
SPL may encounter many problems due to the lack of connection or dependency between the departments.
The Supply Chain department may fail to manage suppliers, and the Production department will be unable to fulfill its duties.
On the other hand, if Finance fails to manage the firm’s financial resources, the Accounting department will fail to pay employees.
The linkage between the departments of the company is crucial for smooth and efficient business operations.
The organization structure plays a key role in the success of a company’s business operations.
The organizational structure is the system that includes implicit and explicit institution policies and rules. These are used to outline the roles and responsibilities of employees in the organization, such as delegation, control, and coordination (Ashkenas and al.
The organizational structure also determines the flow of work and information between different levels of an organization’s business.
The organizational structure plays a crucial role in the internal business operations of an organization.
SPL’s organizational structure is very different from Watson Pharmaceuticals Ltd. (Square Pharmaceuticals Ltd 2017,).
The organizational structure of an organization can control and determine many factors.
Each department is responsible for achieving the company’s primary goals.
The authority and head of the company, the Managing Director (MD), is responsible for all business operations.
The General Manager oversees the Finance and HR departments, while the Director of Administration (DA), controls Marketing and Production. Both management are under one roof.
The MD is responsible for commanding the respective departments.
The head of the department is responsible for communicating with the HR and DA.
The organizational structure at Watson Pharmaceuticals Ltd, on the other hand is the functional authority organization structure.
This organizational structure is based upon the functions of each department within the organization.
Scott (2013) states that there are several authoritative people in an organization who are responsible for each department’s respective functions.
This organization has a greater control span than SPL. There are also different authoritative people for each sub-division of departments within the film.
The chain of command in this organization is also longer than SPL because there are assistant heads in every department.
The communication about the Company’s business operations is done through the heads and assistant heads of the company, which aids in the firm’s decision-making process.
In terms of control and decision making, Watson Pharmaceuticals Ltd’s organizational structure is more robust than SPL.
The Supply Chain department’s human resources plan can be affected by many factors.
Both the external and internal factors can have an impact on the human resource plan (Armstrong & Taylor 2014).
Any issues or conflicts that affect the organization’s planning for human resources management can be called internal.
The external factors, on the other hand, are based on the environment, which includes the legal, socio-cultural and economic.
These are the Internal Factors that can Influence The Planning Of The Human Resource.
The organization’s organizational structure is one of many internal factors that affect the organization’s human resource planning.
Poor organizational structure can make it difficult to determine the organization’s human resources needs (Hendry 2012).
For better human resource planning, the organizational structure must be strong.
The second factor that determines the organization’s human resource planning is budget.
In terms of expenses for staffing and employee management, an insufficient budget can impact the organization’s human resource planning (Daley 2012).
However, some positions are highly demand sensitive and require revenue so an insufficient budget will not be able to provide the cost benefits.
The organization’s human resource planning will also be affected by the level of skill and productivity.
For the fulfillment of this additional requirement, the firm will need more skilled and efficient employees (Armstrong & Taylor 2014).
These are the External Factors That Can Affect The Human Resource Planning
The political context of an organization’s business operations can have a strong impact on its human resource planning in terms of tax, wage rates, and other areas.
Technology is a factor that determines the need to update the technology of an organization. Innovation and other important aspects require technologically skilled labor (Daley, 2012).
Technologies are therefore an important factor in human resource planning.
Both socio-cultural and economic factors can have an impact on the human resource planning of a company.
Human resource planning is affected by the background, financial needs, and social standards of employees.
Other important factors that influence the human resource planning include legal, environmental and ethical compliances (Hendry 2012).
Human resource management at an organization can include various levels, from planning to selection.
Every year, the HR department prepares the human resources planning.
The planning process includes the gathering of data and information about the human resources.
The HR department is responsible for the preparation and planning of the human resources (Bizstudyportal 2017,).
Qualifications and skills are the criteria to be an employee in the organization.
The company has a rigid structure for the selection and recruitment process.
For all departments, and especially the Supply Chain department, the company has policies.
These policies address ethical considerations in human resource planning to maintain and uphold the company’s moral standards.
Induction and probation periods for employees are also included in the company’s process. This is to ensure that employees have the right skills and responsibilities to perform the job.
Square Pharmaceuticals Ltd 2017. The company participates in the employee performance appraisal process and the reward-and-compensation system to ensure the retention and promotion of employees (Square Pharmaceuticals Ltd).
The organization’s human resource practices do not need any recommendations.
Although human resource practices are generally acceptable in an organization, there are some implications for the improvement and sustainability of the organization’s human resource planning and practice.
The company should practice diversity management and cultural management within its organization.
Diversity management is necessary to ensure that all employees have a peaceful workplace.
Diversity management can also reduce employee turnover.
Diversity management is recommended for the organization in order to prevent employee turnover and to retain employees.
Another recommendation is that legal consideration must be considered in addition to the ethical considerations for human resource planning. This will ensure the protection of employees’ human rights.
Legal consideration should include wages, work hours, and other rights of employees, as well as the employment contract to strengthen the firm’s human resource management.
The company is responsible for improving the management of human resources in order to decrease employee turnover and ensure employee retention.
Square Pharmaceutical Ltd is a leading organization in both the Bangladeshi pharmaceuticals industry and in the global market.
The company’s main goals are the basis of the business strategy.
Effective and appropriate business strategies are essential to achieve the basic objectives of the company, which include providing transparency for the business to people and ensuring the wellbeing of all stakeholders.
To achieve the stated business goals, the business strategy is linked to the human resources strategies.
The company is the market leader in Bangladesh. To maintain its position as the leader, it has developed a unique set of generic strategies that are linked to the firm’s human resource strategies.
The company uses the cost leadership strategy to sell its products (Prodhan 2017,).
Customers can choose from a variety of products offered by the company.
The company’s cost leadership strategy refers to selling products to customers at a lower cost than competitors (D. Banker Mashruwala, Tripathy 2014).
The company needs skilled and efficient human resources to successfully implement its strategy in the global business market.
The company is looking for employees who are both qualified and skilled to fulfill the role as well as help it achieve its business goals.
The company’s business strategy is also focused on product differentiation (Santos Vijande et. al.
This business strategy is executed by SPL on the basis of brand image, superior product quality, and the introductions of new drugs to market.
The company is also the manufacturer of generic drugs for medical treatment.
This strategy is known as the focused differentiation business strategy. It also requires proper human resources to market the products.
This strategy must be linked to the human resource strategy for the successful marketing of products.
The company’s human resources must be able to understand the importance of marketing products for gaining competitive advantages (Prodhan 2017,).
The training of employees is an important part of the company’s human resource strategy.
Sometimes, the company sends employees overseas for advanced training and a better understanding of the highly competitive global market.
SPL also focuses on induction and on-job training of employees to accommodate them with the organizational structure and understand business strategy and objectives (Bizstudyportal 2017.
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