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Major Report on Building Organisational Resilience

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Submitted By DMITRYREDCROSS
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The context contemporary global business environment s requires companies to keep up with the pace of rapid changes and to meet financial expectations of numerous stakeholders.
However these expectations are not financial only. Growing environmental concerns, depleting natural resources, globalisation issues, political and social instability require companies to reconsider their change management practices to comply with stakeholders expectations
Pharmaceutical industry is no exception.
The pharmaceutical industry has strategized around market exclusivity for many years. Successful commercialization of pharmaceutical products depends on maximizing the time available for product sales before generic products entered the market. Market protection opportunities that have the greatest impact on the life cycle of the product include patents, data exclusivity, patent term litigation, and extensions associated with pediatric indications for the drug (Goodman, 2008). Drug companies, their competitors which include other pharmaceutical companies, as well as generic companies understand this, thus enabling the drug companies to maximize product sales and royalties for many years (Goodman, 2008). These factors along with a declining economy, new healthcare regulations, political influences, changes in patent law, a change of the mentality from profits first, science secondary has lead to the decline in profits for the pharmaceutical industry. Although late adaptors to the “change”, unlike the banking and retail industries, pharmaceutical have been impacted as well and in order to stay competitive must make some serious changes (Goodman, 2008).

Merck & Co., Inc is one of the top-tier drug makers. This corporation faces the multiple issues and challenges pertinent to pharmaceutical industry.
This paper provides an overview of existing change models in within the framework

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