AstraZeneca is the second largest pharmaceutical company in UK, which has biopharmaceutical business in over 100 countries. In 2015, company’s market capitalization is $70.816 billion, and their net income is US$2.826 billion, with a 4.5% market share of US and a 2.5% market share of Europe, and the number of employees is 61500 (AstraZeneca, 2015). Their main competitors are GlaxoSmithKline & Amgen. The purpose of AstraZeneca is to promote scientific advancements through innovative science and sustainable development to provide life-changing medicines to patients. So, they have a clear vision: to be a global company which focused in core therapy areas (AstraZeneca, 2016). Besides, company’s main organizational structure including: Board, audit committee, remuneration committee, nomination and governance committee, science committee and the senior executive team.
Pharmaceutical industry is facing intense competition and enormous challenge in the recent year, mainly due to the threat from generics drugs and competitors enhance ability and adoption of new technology (Taylor, 2015). For AstraZeneca, they face the unprecedented challenge which is how to continually innovate (AstraZeneca, 2015).
5. Transformational Leadership:
Nowadays, transformational leadership theory has been applied to many different industries, such as manufacturing, pharmaceutical, service industry and even in education (Covey, 2007). A large number of researchers have
U.S. based companies hold rights to most of the world’s rights on new medicines and holds thousands of new products currently being developed. As of 2012, the industry helps support almost 3.4 million jobs in the U.S. economy. It is also one of the most heavily R&D based industries in the world. In the United States, the environment for pharmaceuticals is much friendlier than other countries around the world in terms of pricing ability and regulations. Both the Pharmaceutical and Biotechnology industries have experienced significant growth in the past year with year-over-year increases of 13.02% and 34.69% respectively. It is an even more striking when looking at the past five years considering both have beat out the S&P 500 with pharmaceuticals increasing an additional 31.44% and the biotechnology sector besting an astonishing 269.3% more return than the
There are many models of leadership that exist across a range of fields (e.g. social work, education, psychology, business, etc.). The ability to transform an organization successfully requires a different set of attitudes and skills. Transformational leadership is an approach where a leader utilizes inspiration, charisma, individualized attention, and intellectual stimulation with their employees (Iachini, Cross, & Freedman, 2015, p. 651). Transformational leadership helps to clarify organizational vision, inspires employees to attain objectives, empowers employees, encourages employees to take risks, and advocates the seeking of alternative solutions to challenges in the workplace (Transformational Leadership, 2015). It allows the leader to engage and motivate each follower identify with the organization’s values and goals.
The three articles used for this comparison matrix looked at transformational leadership and how it affects those in relation to each study. The three articles were all written with a different purpose in mind, with all three correlating to the same hypothesis, “How does transformational leadership affect employees/individuals in different settings?” With similarities found in topic, it was also evident that there were several contrasting variables within each article. The three empirical articles that were utilized for this comparison were as follows: Transformational Leadership in
On september 2nd 2011, a Twenty-four year old man from cincinnati named Kyle Willis´ fell victim to the corruption of the pharmaceutical industry(Gann, Carrie). Willis had a severe toothache on his wisdom tooth that resulted in its extraction. After the surgery, Willis´s face started to swell and was sent to the emergency room. He was prescribed antibiotic medications and also painkillers in order to follow standard recovery procedure. Kyle Willis’ could not afford both drugs so he just purchased the pain killers because of the swellings unbearable pain. The infection continued to spread into his brain which lead to severe brain swelling and eventually Kyle Willis’ death. Kyle Willis’ died because he could not afford the medication that would have saved his life. There are many other people that can 't afford the drugs they need, which results them losing their lives. According to harvard studies, over 45,000 people annually die due to lack of health care coverage(Harvard Gazette). According to their studies, those who are privately insured have 40% chance less of dying than those who have insufficient funds(Harvard Gazette). The monopoly and corruption of the pharmaceutical industry is un-american and inhumane because it causes the middle class to not receive the help they need to recover.
The book The Heart of Change shows the practical side of the theories that are taught in the course textbook. It presents stories of successes and failures based in the application of concepts discussed in Organizational Behavior and Management and in class. Although we talked about several different concepts the ones that are evident in the examples in The Heart Of Change are the more progressive and individual centered approaches. The leadership characteristics that are important to successful change in an organization are those that are espoused in the transformational theory of management. It makes sense that ideals in line with the transformational management theory
“AstraZeneca is dedicated to discovering, developing and delivering innovative, meaningful medicines and other healthcare solutions that help enrich the lives of patients, as well as their families and communities. By putting the health of patients first by providing educational programs, resources and tools designed to help empower and inform; creating a challenging and rewarding work environment that inspires the
Aubrey Malphurs, in his book Being Leaders, posited a transformational leadership that values gifted leaders, advocates high moral standards, sees the importance of an organization’s mission and vision, encourages people not only to think for themselves but also to think creatively, listens to people, and gives attention to and mentors followers. Leadership is regarded as the art of motivating and empowering others to pursue goals that are fulfilling to leaders and beneficial to the organization or community to which they belong. Bruce Avolio asserts that transformational leadership causes leaders to raise the level of identification, moral maturity, and perspective of those they lead. Over time, they develop their followers into leaders. They broaden and enlarge the interests of those they lead. Their shadows are much deeper and longer in terms of their effects on others, and by and large they are very positive shadows over time.
Over the past twenty years, an abundant body of researches have been done to review transformational leadership and transactional leadership. Burn (1978) was the first person to introduce and conceptualize the concept of transformational leadership and transactional leadership. Bass (1985) based on Burn’s concept and deepened his notion with modifications, which stated that one of the best frameworks of leadership is transformational or transactional. Following Bass and Avolio (1994, p. 4) provided the idea of these two leaderships and generalized them into the development of global economic world. Bass and Avolio (1997) also suggested that there was no need to view transformational and transactional leadership as
To give brief overview, AstraZeneca PLC, formed on April 6, 1999, by the merger of British Zeneca Group PLC and Swedish Astra AB, is one of the biggest pharmaceutical companies in the world. It is well illustrated by some key facts listed on the Company’s website:
Introduction AstraZeneca PLC (AstraZeneca, AZN:NYSE, AZN:LSE) is one of the largest pharmaceutical companies in the world. It was formed in 1999 from the merger of Sweden’s Astra AB and UK’s Zeneca Group plc. Core Activities AstraZeneca is engaged in the discovery, development, manufacturing and marketing of prescription pharmaceuticals and biological products for important areas of healthcare: Cardiovascular, Gastrointestinal, Infection, Neuroscience, Oncology, and Respiratory and Inflammation. One of the key benefits of the merger between Astra and Zeneca is seen as their portfolio of new products in development: AstraZeneca call this their 'product pipeline'.
The research and development of the pharmaceutical industry is very important as the industry relies on it to develop new products to maintain and sustain the growth of the industry (ALRC 2014). According to the Australian Government Law Reform Commission, every year, the total spending in research and development in pharmaceutical industry, which includes drug discovery, pre-clinical testing and clinical trials on drugs is around $300 million (ALRC 2014). Mergers and acquisitions are intensifying in the global pharmaceutical industry, especially over the last 10 years. With factors like exorbitant research and development costs, the relatively shorter product life cycles, and the rarity of discovering a new life-changing drug acting as catalysts, leading pharmaceutical companies now have more cause to step out and look for external collaboration. This results in an increasing number of smaller biotechnology companies merging with bigger pharmaceutical companies (The
AstraZeneca has a vision of becoming a company which is most valued by businesses, customers and patients. The company also has a mission of establishing medicines with a main and purpose of treating and curing diseases, sufferings and symptoms. The company was founded by two cousins in the year 1849 and in the year 1900 it was converted from a business of the family to incorporation. In addition in the year 1944 it became the leading producer of penicillin and citric acid (Thayer 92).
Although R&D has been retained by the large pharmaceutical firms, there has been a continuous decline in the R&D productivity. Controlling R&D is imperative to the success of a Pharmaceutical firm. However, as the pharmaceutical industry is maturing, there are diminishing returns to the R&D investment. Fewer and fewer blockbuster drugs are being discovered and therefore R&D is not the most value adding component in the value