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Introduction about macro environment
Introduction about macro environment
Introduction about macro environment
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With the pharmaceutical industry constantly changing, it makes it very important for a company to analyze the macro environment. The first force is political; right now that pharmaceutical industry is greatly affected by politicians due to changes in health care structure, healthcare platforms, and partnerships with certain pharmaceutical companies. Within the next three to five years as politicians rotate we can foresee the political force being an even greater impact on the industry. The next force is economic. For the now we feel that the pharmaceutical industry is greatly affected by the economic force as people have more spendable income and will be more likely to purchase brand name drugs. As income dwindles, some poor individuals may be unable to purchase even generic drugs. Within the next three to five years since we are coming out of a recession, we will see consumer spending increase and the demand for the highest quality of medicines increase. The economic force will greatly impact the pharmaceutical industry for some time. The next force of the macro environment is the social force. The social force greatly affects the industry since we have begun to focus on preventative health care and detection recently. Moving forward we expect the trend of preventative health care and our tendency to change our health habits will prompt the pharmaceutical industry to deliver new and innovative products. The fourth force is technological; right now the pharmaceutical industry is greatly impacted by changes in technology, and will continue to be affected for years to come. The next force, ecological, somewhat affects the industry. Events like natural disasters, plagues, and other mass causalities can greatly affect the pharmaceutic... ... middle of paper ... ...rofitable; however, in the last year Pfizer has continued to grow at a rate far surpassing their competition. The last section of the external environment analysis is a reflection of industry opportunities and threats. The opportunities for Novartis in the pharmaceutical industry include things such providing more services for the poor and third world countries, using core business capabilities and resources the create long-term growth, adapting to changes in diseases and health care issues, and utilizing technology innovations to drastically improve core aspects of the business. The threats to Novartis within the industry include competition from rivaling companies, changing laws and requirements, rapid changes in technology, increasing competition over low priced generics, and shifts in tastes to lower cost alternatives. [[[External Conclusion]]]