Impact of the Drug Price Control Order on the pharma industry

The Drug Price Control Order (DPCO) was enacted by the Government of India in 1955. The latest amendments to the policy and regulations were made in 2013 and termed as DCPO-2013 (National Pharmaceutical Pricing Authority, 2018). This regulation ensures the availability of essential drugs to the public at a reasonable and controlled price (Kumar, Gupta, and Kumar, 2014). The Drug Price Control Order identifies drugs as an essential commodity. The Drug Price Control Order poses a check on manufacturers and prevents them to sell their drugs at an exorbitant price (The Economic Times, 2017). No pharma company is authorized to sell any drug to a consumer at a price exceeding the tagged price by National Pharmaceutical Pricing Authority (NPPA) under DPCO-2013.

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Importance of customer database in the current generation CRM strategies

A very important component of customer relationship management (CRM) is the customer database (Tsou, & Huang, 2018). To begin with, businesses that focus on customer database management are more interested in the adoption of the operational type of CRM. Although, both analytical and strategic type of CRM use customer database, the application differs in both. Businesses adopting strategic CRM use customer data to identify which customers to target. Whereas, businesses adopting analytical CRM use customer data to search for new patterns (Buttle, 2013).

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Psychological theories of entrepreneurship

Psychological theories of entrepreneurship put emphasis on the emotional and mental aspects of the individuals that drive their entrepreneurial activities (Baum, Frese, & Baron, 2014). Three of the most popular psychological theories of entrepreneurship today include:

  1. McCelland’s theory,
  2. Rotter’s locus of control theory and,
  3. Action regulation theory.
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An overview of CSR policies in Mauritius, Singapore, Netherlands and India

The previous article focused on the importance of environment in the corporate social responsibility (CSR) mandate of India. It highlighted that after the introduction of the Companies Act, 2013, there has been a growing awareness among the Indian companies towards sustainable practices. The strategies framed for the businesses in India now focus on their economic, social and ethical impact for fulfilling long term development goals. In the last few years, India witnessed a significant increase in average expenditure on CSR activities (Rai & Bansal, 2014). An increasing number of Indian companies nowadays report CSR information in their sustainability reports (Ghosh, 2016). These findings indicate a movement in a positive direction.

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Importance of environment in the CSR mandate of India

The previous article on making corporate social responsibility (CSR) mandatory mentioned that such a need arises due to the responsibility of profit-driven companies towards society including the environment. The CSR mandate caters to the strategies needed for building a cleaner environment. The importance of environment stems from its inclusion in the concept of sustainability as put forward by the Brundtland Commission in its report in 1987. The report emphasized maintaining a balance between the needs of the present generation and that of the future generation. It identified three dimensions of sustainability namely social, economic and environment. It argued that environmental concerns are significant and sustainable development is the one that satisfies the needs of the present generation but not at the cost of the ability of the future generations to satisfy their own needs (Kuhlman & Farrington, 2010). Read more »

Economic burden of rhinitis in India and USA

The prominence of allergic rhinitis continues to increase in India, with proven data from International study of asthma and allergies in childhood (ISSAC) studies. Phase 1 conducted in 1998, reported a prevalence rate of 12.5% – 18.6% among children, which rose to 12.9%-23.6% in 2009 Phase-3 results. The patients are classifiable into two clinical groups on the basis of clinical profile they present, sneezers and runners and blockers. Read more »

Linking organisational postmodernism theory and practice

This article gives a theoretical estimate of how postmodernism theory has come to play fundamental role in organizational theory, practice and set-up. Postmodernism is an intellectual concept that initiates new paradigm that influences many aspects including culture and organisations. Read more »

Cultural theories of entrepreneurship

Entrepreneurs are considered to be the seeds of the development of industries. Entrepreneurs play a pivotal role in the process of the promotion and execution of the business. In other words, entrepreneurs are the persons who are responsible for organizing and managing the business by the judicious utilization of the theories of entrepreneurship. Read more »

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