The Challenges Facing the Pharmaceutical Industry in Bangladesh Essay Example

team.

Secondary objective is to identify the present pharmaceutical condition of the country.

1. 4 Methodology

In order to prepare the report both primaries and secondary data are needed. Primary data has been analyzed for preparing the report. Primary data is needed here to find out Acme Laboratories Ltd and Incepta Pharmaceutical’s design to motivate to their sales forces.

Incepta Pharmaceuticals has design its structure to achieve its sales target and the advantages in gaining market share in Bangladesh.

1. 4. 1 Sample design

Primary data is collected here to represent the current situation of the pharmaceuticals company’s sales force team and compare between Acme Laboratories Ltd and Incepta Pharma. To prepare the report, primary data is collected by the questionnaires from the response of respective sales representative. Here direct communication is essential for gathering required data.

As the report covers the Company “Acme Laboratories Ltd” and “Incepeta Pharma” the sample is 20 for each company for best analysis purpose.

1. 4. 2 Data gathering

Primary data is collected by the questionnaires and Secondary data is collected from the internet, books and journal.

1. 4. 3 Data processing and analysis

This topic intend to find out the comparison Acme Laboratories Ltd and Incepta Phama in their motivation towards their employees and sales team and to find out current impact on the sale team . Report will find out the competitors motivation and its impact on sales team for both Acme Laboratories Ltd and Incepta pharma.To analyze data, different motivational factors need to identify by the direct communication through questionnaires. Proper designing of motivational factors can help sales team to achieve the company’s desire goal in a most efficient way.

Analysis of variables Likert’s Summative Rating method of

analysis was used in the analysis these research questions. The Assigned weight to the various alternatives is Strongly Agree (SA) =5, Agreed (A) =4, Neither Agree nor disagree (NAD) =3, Disagree (D) =2, Strongly Disagree (SD) =1 Mean rating was used for the variables .To get the at the mean of each table this formula was used Mean = = (? X)/(? f) Where f =frequency of respondent x=weight assigned to each alternatives Formula for calculation as used in the study is by multiplication of number of respondents under each option with the weight assigned to the option and summing up to divide by the total number of respondents in order to give the mean rating. The decision rule is that the mean ( ) of the total response falls above 4.

1. 5 Limitation

The major limitation for this report were Some confidential data is need for the company which cannot be acquired Respondent may not give the exact information The reluctance shown by the medical Promotion officer (MPO). Exact verifications of some information could not be made owing to confidentiality of the business. Time limitation Sometimes sampling error occurs.Chapter-2 LiteratureReview Literacy Review Insight into employees’ perceptions regarding job content and context factors is usually considered important to aid in uplifting their morale.

The study of motivation forms an integral part of industrial and vocational psychology in which the concepts of need, incentive and attitude are discussed extensively than the concepts of ability and skill (Vroom, 1995). Business world is faced with number one problem of how to motivate employees (Watson, 1994). Technological revolution, demographic changes in workplace and globalization stimulate the need of searching the novel

ways to motivate workforce. Getting to know about employees’ preferences of what motivates them could help improving productivity and building success story for the organizations.Consequently, organizations attain competitive edge whereby employees get valued rewards (Wiley, 1997).

Performance of the employees is mostly determined by their abilities, motivation and positive job environment. Numerous definitions of motivation have been extended which mostly stick to the idea of promoting individual’s willingness to invest more efforts to achieve specific objectives. However, motivation has not been uniformly defined in industrial and organizational psychology (Locke and Latham, 1990). One possible reason could be the invisible and ypothetical nature of motivation construct. The interplay of internal and external forces initiates work-related behaviors and ascertains the direction, intensity and duration of motivation (Pinder, 1998).

Mullins (1992) defined motivation as the direction and persistence of actions. He has described that the driving force for motivation is to satisfy certain needs and expectations. Conroy (1994) has defined motivation as, “a person’s active participation in and commitment to achieving the prescribed results. Wiley (1997) has noted that the following three assumptions of human motivation guided contemporary research: “

• (1) Motivation is inferred from a systematic analysis of how personal, task and environmental characteristics influence behavior and job performance.
• (2) Motivation is not a fixed trait. It refers to a dynamic internal state resulting from the influence of personal and situational factors. As such, motivation may change with changes in personal, social or other factors.
• (3) Motivation affects behavior, rather than performance (Nicholson, 1995).

Initiatives designed to enhance job performance by increasing employee motivation may not be successful if there is a weak link between job performance and an employee’s

efforts.

” Locke (1976) has noted that motivation is determined by goal directedness, human willingness, and perceived needs and values to sustaining the actions of employees in relation to themselves and to their environment. Charles and Marshall’s (1992) conducted a survey to explore the motivational preferences of the job factors among 255 Caribbean hotel employees.The participants rated “good wages” to be the most important factor in motivating them to do their best work. The results of the survey by Simons and Enz (1995) were equally supportive.

The hospitality employees in 12 hotels across United States of America and Canada perceived “good wages”, “job security” and “opportunities for advancement and development” as the top rated motivators. The results also revealed that the employees from different functional departments differed regarding importance placed on job-related factors.The results of a survey (Wiley, 1997) indicated that full-time and part-time employees from diversified industries such as retailing, services, manufacturing, insurance, utilities, and health care and government agencies considered the following three job factors important in their motivation:1. Good wages.2.

Full appreciation for work done.3. Job security.Research on workplace performance and motivation has been going on since the early work of Elton Mayo at the Western Electric Hawthorne Plant in the late 1920's and early 1930's (Franken, 2002).

This research jump started research into worker's motivation and performance that has continued throughout the last 70 plus years. In the 1930's and 1940's Skinner's (cited in Stajkovic & Luthans, 2003) operant conditioning looked at motivation and performance from a behavioral perspective while in the 1940's and 1950's Maslow presented and expanded on his "hierarchy of needs" outlining human motivation as a stepped process that began with the

motivation for safety, shelter and food and worked up through self-actualization (the desire to reach one's full potential) (Shermerhorn, Hunt and Osborn, 2003).Both performance and motivation theory has progressed and grown from all of these histories. Recent work has focused on intrinsic versus extrinsic goals, goal congruency, situational motivation, expectancy-value, goal setting, and self-efficacy (Cameron ; Pierce, 1994; Bandura, 1991; Stajovic ; Luthans, 2001; Franken, 2002; Schermerhorn, Hunt ; Osborn, 2003) Role-ambiguity works in a similar manner in that individual team member motivation is decreased when role-ambiguity is high, and increases when role-clarity is present (Franken, 2002).Thus a team that has clearly defined and understood roles will outperform a team with ambiguous roles or misunderstood roles.

Research done by Latane, Williams and Harkins (cited in Messe, Hertel, Kerr, Lount, ; Park, 2002) has shown that individuals frequently reduce their effort in a group setting as compared to when they work alone. This effect has been labeled "social loafing" and has been replicated in other studies. This is in contrast to research by Messe et al. (2002) that demonstrates the "Kohler effect" in which people tend to exert more energy and effort when in a team or group setting than when alone. Messe et al. 2002) attribute these contradictory findings to the type of tasks that the team had to perform as to either being conjunctive-tasks or additive-tasks.

Research done by Karau and Hart (1998) indicates that group cohesiveness is a moderator on social loafing. Thus members of a high-cohesive group or team are less likely to engage in social loafing as opposed to members in low-cohesive groups when the individual's efforts are viewed as important to the

overall group's performance. They also found that internal group competition decreased the cohesiveness of a group and thus had a positive correlation to social loafing.To be effective; teams need to build trust in both areas with task being the more important of the two for creating high-performance (Dixon et al. , 2002).

Compensation for sales representatives inside of the pharmaceutical industry typically is composed of three elements: base pay, incentive pay, and benefits (Best Practices, 2002). While the combination of all three is vital to successful motivation, all things being equal, incentive pay has the most variable impact on performance (Churchill, Ford, Hartley, ; Walker, 1985) Money's outcome utility is based on its exchange value for goods, services and privileges (Stajkovic & Luthans, 2001).While money itself has little or no outcome utility, it is its ability to be exchanged for something that someone wants that motivates. People are attracted to well paying jobs and perform extra activities that bring them more pay (Stajkovic & Luthans, 2001). Deci, Ryan and Koestner (1999) point out that rewards (i. e.

money) may have both positive and negative effects on motivation, with some aspects of rewards being perceived as controlling thus decreasing intrinsic motivation and some aspects being seen as providing evidence of competence and thus increasing intrinsic motivation.Money's informative content is dependent upon how it is received.Chapter-3 Acme Laboratories and its Competitor