R&Doutsourcing in the Pharma Industry
- Submitted by: melissa1312
- Views: 167
- Category: Other
- Date Submitted: 03/22/2015 09:48 AM
- Pages: 16
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Table of Contents
Executive Summary 3
Introduction 3
Literature Review 4
Explanation Theory/Framework/Model 9
Discussion & Analysis 14
Conclusion 15
Bibliography 16
Table 1…………………………………………………………………..……………4
Table 2…………………………………………………………………………..……6
Table 3…………………………………………………………………..……………6
Figure 1……………………………………………………….……………………...5
Figure 2………………………………………………………………………………9
Figure 3……………………………………………………………………..………10
Figure 4……………………………………………………………………..………11
Figure 5…………………………………………………………………..…………13
Figure 6…………………………………………………………………..…………13
Executive Summary
In this report I will discuss what Outsourcing is and explain the various theories, frameworks and models that can be used by organisations. Furthermore I will look at the new pharma model ‘The network approach’ and explain it in depth and how it can affect the pharma organisation and the industry as a whole. Finally this report will look at a small section on how GSK uses the Network Approach.
Introduction
There are various ways of defining out sourcing however they all come to the same conclusion which is a strategic use of outside resources. Griffiths defines outsourcing as “the strategic use of outside resources to perform activities traditionally handled by internal staff and resources” (Griffiths); Investopedia also describes it as an effective cost-saving strategy when used properly. It is sometimes more affordable to purchase a good from companies with comparative advantages than it is to produce the good internally. An example of a manufacturing company outsourcing would be Dell buying some of its computer components from another manufacturer in order to save on production costs. Alternatively, businesses may decide to outsource book-keeping duties to independent accounting firms, as it may be cheaper than retaining an in-house accountant (Investopedia). Lastly Marty Pine describes outsourcing as “the strategic use of outside resources...
Executive Summary 3
Introduction 3
Literature Review 4
Explanation Theory/Framework/Model 9
Discussion & Analysis 14
Conclusion 15
Bibliography 16
Table 1…………………………………………………………………..……………4
Table 2…………………………………………………………………………..……6
Table 3…………………………………………………………………..……………6
Figure 1……………………………………………………….……………………...5
Figure 2………………………………………………………………………………9
Figure 3……………………………………………………………………..………10
Figure 4……………………………………………………………………..………11
Figure 5…………………………………………………………………..…………13
Figure 6…………………………………………………………………..…………13
Executive Summary
In this report I will discuss what Outsourcing is and explain the various theories, frameworks and models that can be used by organisations. Furthermore I will look at the new pharma model ‘The network approach’ and explain it in depth and how it can affect the pharma organisation and the industry as a whole. Finally this report will look at a small section on how GSK uses the Network Approach.
Introduction
There are various ways of defining out sourcing however they all come to the same conclusion which is a strategic use of outside resources. Griffiths defines outsourcing as “the strategic use of outside resources to perform activities traditionally handled by internal staff and resources” (Griffiths); Investopedia also describes it as an effective cost-saving strategy when used properly. It is sometimes more affordable to purchase a good from companies with comparative advantages than it is to produce the good internally. An example of a manufacturing company outsourcing would be Dell buying some of its computer components from another manufacturer in order to save on production costs. Alternatively, businesses may decide to outsource book-keeping duties to independent accounting firms, as it may be cheaper than retaining an in-house accountant (Investopedia). Lastly Marty Pine describes outsourcing as “the strategic use of outside resources...