24Oct 2018 by Reese Bannister

Complete Information on the “Disinvestment” (Privatisation) Policy of India

Strategy
This article covers the benefits and pitfalls of disinvestment (privatisation) policy of India.Since the process of disinvestment began in 1991, no privatization took place till 2000. However, since 2000, almost 30 PSES were privatized of which many profit are making. The budget for 2000-01 provided for Rs. 10,000 crores by way of disinvestments and the target was raised to Rs. 12,000 crores in the next two budgets. In the two years 2000-02, Rs. 7443 crores were estimated as receipts but in 2002-03, Government hoped to exceed the target and even double it by putting through an accelerated programme. ADVERTISEMENTS: Government has been encouraged by the strategic sales affected in 2001 and 2002. The Supreme Court’s view is that the disinvestments procedure followed in the sale of BALCO (Bharat Aluminium Company…
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24Oct 2018 by Reese Bannister

6 Important Functions of WTO – Explained!

Decision Making
The WTO, which began operation in 1995, is an improvement over GATT, i.e., General Agreement on Tariff and Trade. GATT was a forum where members met occasionally to solve world trade problems whereas WTO is a chartered trade organization based in Geneva, Switzerland.The WTO has a legal status and enjoys privileges that are same as the IMF and the World Bank. There were 76 Governments which became members of the WTO on its first day and by 1996 this number increased to 145. India is one of the founder members of WTO. At present the number has gone upto (147) including Chaina. ADVERTISEMENTS: The main function of WTO are: (1) To act as a main body to promote multilateral trace system. Image Source: cdn.yourarticlelibrary.com(2) Cooperative with other international bodies in…
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24Oct 2018 by Reese Bannister

Difference between FERA and FEMA (Foreign Exchange Regulation Act and Foreign Exchange Management Act)

Management
FERA (Foreign Exchange Regulation Act) was passed in 1947 which was amended in 1973. The new FERA came into force from 1.1.1974. The objective was the conservation of India’s Foreign Exchange reserves, judicious use of foreign exchange, using mainly in these sector which require foreign technol­ogy.Transactions in foreign exchange were absolutely prohibited excepting in certain selected sectors. Every foreign company had to maintain Indian share of 26 percent.FERA was repealed in 1998 and Foreign Exchange Management Act (FEMA) was enacted. No unauthorised person would be allowed to deal in foreign exchange. The authorised person could sell; draw foreign exchange from any authorised person on current Account transaction, subject to approval of R.B.I. Image Source: jhunjhunwalas.files.wordpress.com ADVERTISEMENTS: RBI has exclusive authority to regulate supply; use of foreign exchange, R.B.I, if thinks…
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23Oct 2018 by Reese Bannister

Essay on the Current Scenario of Employment Pattern in India

Workforce
The growth of employment in India suggests that there has been a decline in the rate of growth of employment at current daily status basis, from 2.7 percent in 1983-1994 per annum to 1.07 percent per annum in 1993-94 to 2000. The growth rate of GDP on the contrary was higher with respect to growth rate of employments. There has been a decline in the employment intensity.The 55th Round of NSSO survey suggests that Growth Rate of employment was associated with a decline in labour force. The decline in the absolute number of unemployment (expressed in terms of unemployed as a percentage of labour force) increased during 1994-2000.Agriculture is the largest sector, where most of the people are employed. During 1994-2000, there was a near stagnation in the growth rate…
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23Oct 2018 by Reese Bannister

13 Important Recommendations by Second Labour Commission (India)

Management
In view of economic liberalisation of labour laws. Government of India set up 2nd National commission of Labour under chairmanship of Mr. Ravindra Varma (a) to suggest measures about rationalisation of labour laws (b) to suggest”umbrella” legislation for ensuring a minimum level of protection to the workers in the organised sector.NCL suggested following definition for “Rationalisation”—In our understanding rationalisation means only making laws more consistent with the context more consistent with each other, less cum­bersome, simple and more transparent.”The commission believes the level of wages depend on economic efficiency of an undertaking.” The commission further adds “workers have to be interested in productivity as the management is.” Image Source: securityaffairs.co ADVERTISEMENTS: The interest on work depends upon proper inspiration from management how management can impose upon the workers work, ethics…
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23Oct 2018 by Reese Bannister

Marketing of Pharmaceutical Products in India (30 Important Suggestions)

Business
After the thorough understanding of pharmaceutical marketing the suggestions and recom­mendations made by the researcher are compiled as;1. Researcher suggest that to improve ethical sale of pharmaceutical products that is con­tributed through the prescriptions of consulting physician (doctors) is achieved through identified three major thrust areas as sales force (including medical representatives, field managers), medical practitioners (consulting physicians, dispensing doctors, para­medical staff) and stockists (including distributors or dealers and chemists) to promote its product range.2. It is suggested that decentralization is more preferred as it has a due importance to minimize the communication gap between top authority and field executives.Arfterthe thorough analysis of organizational hierarchy, it has been suggested that they have a capabilities to handle whole marketing functions for successful product promotion. Image Source: iampyourbrand.com ADVERTISEMENTS: The marketing department…
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23Oct 2018 by Reese Bannister

Comprehensive Essay on “Pharmaceutical Industry” in India

Decision Making
Indian pharmaceutical industry is divided into two categories as bulk drugs and formulations by its physical properties and marketing point of view ethical, generic and OTC and line of treatment the industry is further divided as Allopathic, Ayurveda, Homeopathy, Unani etc.In our context Allopathic is more relevant as it occupies more than 80% of market share. Furthermore Indian pharmaceutical sector has successfully crossed all phases from monopolistic phase to multi-brand phase to emerging market phase and now commoditisation phase stepping ahead to give a new shape for pharmaceutical marketing.It is observed that Infrastructure base of Indian pharmaceutical industry comprises of more than 3.9 lakhs allopathic practicing doctors with 15 thousands hospitals and 1.6 lakhs pri­mary health centres and with a highest doctor chemist ratio of 2: 3 i.e. of around…
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23Oct 2018 by Reese Bannister

What is the Role of Medical Representative at Doctor, Chemist, Dealers and Social level?

Marketing
In pharmaceutical marketing strategies are implemented through medical representative in the thrust areas as doctors, chemists and dealers and society in general. Therefore it is necessary to analyze and interpret the views of medical representative towards the various marketing strategies framed by pharmaceutical companies and the difficulties faced by them.And understanding the complete system will help to improve the current system of strategy implementation through medical representative. 1. Doctor’s level: Survey confirms that personal relations and regular calls are equally important at doctor’s clinic level. Few of them emphasis on the fact that knowledge built and company inputs are also play a vital role but has its own limitations, as degree of acceptance copied by competi­tors is much high. It has also agreed by 70 percent of respondents that these…
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23Oct 2018 by Reese Bannister

Evaluation of Sales Force Management in a Pharmaceutical Company

Industry
It is true that Evaluation of sales force management is widely considered as a strategic element in effective human resource management in pharmaceutical marketing.It has seen that pharmaceutical Companies has always given a top priority for Maharashtra region. The number of Management trainee/ marketing executive and district managers in Maharashtra is 350 that is comparatively half all India field staff that is reason for strong presence and continuous growth in the market. Also as per survey, average P.C.P.M (Per Capita Per Month sale) of the pharmaceutical industry is maintained around Rs. 2.75 laks and with Cipla P.C.P.M is average Rs. 4 laks per months that is far better than the expecta­tion, which is a result of good human resource planning. Rapid Staff Turnover: As per industry data Pharmaceutical Companies ranked…
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23Oct 2018 by Reese Bannister

Pharmaceutical Marketing Strategies in India (2 Case Studies)

Case Study
Pharmaceutical Marketing Strategies in India (2 Case Studies) explained below: Case Study 1 The highly regarded medical center called “Pride Hospital” has provided medical care for over 35 years. The center serves a primary population of 200,000 and an extended service area of over 300,000. ADVERTISEMENTS: One of the centre’s websites is devoted to weight loss surgery. The site offers a significant amount of educational information, including: a detailed glossary of terms, a weight loss surgery library, a weight table and information about surgical weight loss options. Addi­tionally, the site offers a surgeon/hospital locator system and a message board.This client operates in a competitive online market against a range of hospital, support group and informational websites. Therefore, their online marketing goals included increasing the search engine visibility of the website…
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