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    MGT8002 Examination Assignment Help

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    MGT8002 Examination Assignment Help


    MGT8002 Examination Assignment Help

    Introduction:-

    The concerned study will focus on the competitive analysis and identification of key success factors of Home Pharmaceuticals. These factors help in gaining an advantage over competitors in existing market. Some of the strategies will be recommended with their evaluation to Home Pharmaceuticals to ensure their improvement in business performance.

    Competitive Advantage:-

    The competitive advantage of an organisation can be analysed using Porter's Diamond model, which includes factors like Demand, conditions, firm strategies, related industry, factors condition, government, and chance. As in Malaysian market, the pharmaceutical industry is emerging which positive governmental support. The above-mentioned factors are important to assess the global business operations. The factors condition incorporates governmental contribution in resource management. The Malaysian government has taken initiatives in improvement in the technological acquisition, biotechnology, drug discoveries, generic drug manufacturing. These governmental initiatives help Home Pharmaceuticals to undertake these technological and market advancements to acquire a competitive advantage.

    Topaloglu and McDonald (2013, p.6) stated that the supporting industries as involvement of suppliers also affects the growth of the business organisation. As the initial time, Home Pharmaceuticals started supplying their products through local doctors. With the advancement of technology and market position, it is using vans and even Airways to supply products. Home Pharmaceuticals acquirer negative competitive advantage in the existing market due to late supply as the easy flow of supply is obstructed by heavy jam in Damansara-Puchong Expressway. According to Home Pharmaceutical's estimation, the share value can fall by 0.5% due to the through reliance on devices of hearing aids whereas competitors are focusing on other factors to gain the competitive advantage. In order to gain an advantage in the competitive market, Home Pharmaceutical has adopted the strategy of manufacturing medicines or over-the-drugs or non-prescription drugs. Oh and Joo (2015, p.110) pointed out that government has helped in delivering support to the mechanism of funding and improving the capacity of stakeholders. These above-mentioned factors develop chances or opportunities for Home Pharmaceuticals to gain a competitive advantage in the market by improving strategy and supply chain.

    Identifying and assessing the KFS in order to analyse capabilities of organisation:-

    Capabilities

    1

    2

    3

    4

    5

    OCT (technological superiority)

     

         

    Employees (Human Resource Management)

     

         

    Advertising

       

       

    Process and system (Research and Development)

       

       

    Distribution Channel

     

         

    Total

     

    12

         

    The above rating of capabilities through key success factors most of the capabilities are below the ranking. Short et al. (2016, p.1122) observed that the nonprescription drugs manufacturing are not being capable to acquire a competitive advantage over their competitors as the competitors are maintaining the global standard. The staffs of Home Pharmaceutical are skilled and efficient, however, the competitors are importing training employee to gain competitive advantage. The distribution channel is disrupted due to the traffic issue. On the other hand, the research and development process and advertisement process are more flexible to compete with their competitors and gain an advantage as well as profitability in the Malaysian market.

    Developing Corporate and business-level strategies for Generic strategies analysis and grid analysis:-

    Corporate level strategy:-

    PRODUCTS AND SERVICES

     

    Existing

    New

    Markets

    Existing market

     Market penetration strategy

    Home Pharmaceutical can deliver its services in the Malaysian domestic market with technologically advanced products

    New product development

    OTC drugs and Food supplements

    New market

    Market development strategy

    In the new market, the extensive research on generic drugs required.

    Diversification

    Global market expansion in Australian pharmaceutical industry

    Evaluating strategies of Home Pharmaceuticals through h strategy evaluation model:- 

    The cost leadership strategy encompasses the principle of low-cost products supply. However, Home Pharmaceuticals being in the standard market position can adapt this to grab potential market in Australia.

    Sekaran and Bougie (2016, p.7) say that the differentiation strategy is considered to a principle of delivering different products to the different individuals based on their needs.

    Home Pharmaceuticals can use this strategy in Malaysian market as it can easily identify the requirements of Malaysian market. Home Pharmaceuticals in the Australian market to target a small customer segment and make their string market entry can use focused strategy.

    The flat structure of Home Pharmaceutical helps the organisation to successfully adopt this strategy in their business operations and acquire the competitive advantage over competitors in the Malaysian market.

    Conclusion:-

    This study has on the market position of Home Pharmaceuticals in order to analyse the competitive advantage of the same in existing market. Here, some of the corporate b and business level strategies are recommended which can be implemented by the concerned organisation to make their market entry in Australia and penetrate their business in Malaysia.

    References:- 

    Oh, C. and Joo, S.H., (2015). Is the technological capability gap between Hyundai and Mitsubishi converging or diverging? Findings from patent data analysis. Asian Journal of Technology Innovation, 23(sup1), pp.109-128.

    Purce, J., (2014). The impact of corporate strategy on human resource management. New Perspectives on Human Resource Management (Routledge Revivals), 67.pp.1-98

    Sekaran, U. and Bougie, R., (2016). Research methods for business: A skill building approach. New Jersey: John Wiley & Sons.

    Short, J.C., McKenny, A.F., Ketchen, D.J., Snow, C.C. and Hult, G.T.M., (2016). An empirical examination of firm, industry, and temporal effects on corporate social performance. Business & Society, 55(8), pp.1122-1156.

    Topaloglu, O. and McDonald, R., (2013), December. Understanding the Competitive Environment of Nonprofit Organizations: A Resource-Advantage Theory Approach. In Association of Marketing Theory and Practice (2014).pp.1-87

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