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To encourage research and development can determine the success of business in the market place

To encourage research and development can determine the success of business in the market place - Essay Example

Summary

In recent times, all companies, irrespective of size and place of location have realized the acceptance of R&D department as an essential area for monetary success. Research is thus crucial…

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To encourage research and development can determine the success of business in the market place

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Subject: Miscellaneous
Type: Essay
Level: Undergraduate
Pages: 32 (8000 words)
Downloads: 2
Author: veffertz

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ion, pharmaceutical and biotechnology companies invest highest in the R&D area and gain most significant advantage from the resultant invention or discovery, if successful. Thus, pharmaceutical companies practice well-designed strategies for greater functioning in the research area. In the present study, we thirty-five subjects of diverse pharmaceutical background and having their hometown as UK participated in this study. There were 19 males and 16 females with the mean age of 37.6 years. The sample predominantly consisted of pharmaceutical professionals who have been actively involved in at least one research related project.

In addition to a short introductory information items, the subjects completed all the essential items as presented in the “Know Pharmaceutical Research” (KPR) questionnaire. It consisted of 21 items with dichotomous (yes or no) response choices. The KPR questionnaire was administered for collection of the thoughts, ideas, experiences, and knowledge and believes as pertinent to pharmaceutical research. It is essential to note that the participants were contacted by means of email notification(s).

The same sequences of events were repeated for data collection from 35 professionals of India with the mean age of 41.2 years. The results revealed that the participants considered investment in the area of R&D in the pharmaceutical companies as an important step for the monetary profit of pharmaceutical business. Quite a significant number of pharmacy professionals highly recommended investment in the area of R&D department. The professionals in both India and UK almost equally realized the benefit of investment in the R&D department.

Thus, the reason for less investment in the R&D area in India as compared to that in UK can be ascribed to the relative lack of monetary sources. The present thesis is an attempt to respond with the most scientific base to the questions pertinent to the encouragement in the research and development area as

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