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This study sheds light on the complex relationship between international diversification and firm performance and explores whether future performance expectations seem to drive managerial decisions related to internationalization issues.

We conducted in-depth investigation of five firms. This qualitative approach is allegedly better equipped to uncover the peculiarities of specific internationalization decisions by individual companies and the performance consequences derived from modifications in the degree of international diversification, which might go unnoticed in large-sample statistical analyses.

In line with Hennart’s (2007, 2011) and Verbeke and Brugman’s (2009) theoretical arguments, our findings indicate that no universal relationship should be expected between international diversification and firm performance. Rather, the performance consequences of internationalization-related decisions depend on the particular combinations of a firm’s characteristics and environment contingencies. Given managerial discretion, internationalization decisions would not be randomly made, but rather would be endogenous, and, as such, the relationship between multinationality and performance can only be understood if one takes a contingent approach. Additionally, internationalization decisions seem to be taken within a context of uncertainty regarding the future, which suggests that managers seem to approach internationalization with a long-term perspective and may in fact be “buying real options.”

This study examined only five cases and they all relate to a particular type of firm: all are headquartered in a large emerging market with good domestic growth prospects, and each either is the leader or stands among the largest in its industry in the domestic market. While this relative homogeneity in the selection of the cases minimizes confounding factors, it suggests that findings may be specific to this particular (firm and market) context.

Managers should be aware that decisions that modify the international configuration of a firm might have distinct implications across different firms, given the particular (firm, industry, and environment) contingencies. Therefore, no universal normative orientation should be expected between international diversification and performance.

Although it is often implicitly assumed that managers make (informed) decisions with the objective of improving their firms’ (long-run) performance, there has been little discussion as to whether managers have detailed information about the expected performance implications arising from decisions that change the degree of international diversification of their firm and whether such decisions are driven by expected performance outcomes.

The pharmaceutical industry is in the midst of a fundamental transformation. For example, institutional regulations that have been in place for decades are being removed and competitive pressures force pharmaceutical companies to adopt customer‐oriented strategies. Information technology (IT) is a traditional enabler in this industry for the interaction with suppliers, wholesalers and pharmacies. This paper shows that internet portals yield new opportunities in accessing key customer segments, such as physicians and patients. The central message is that shaping these customer‐oriented systematic methodologies is merely a technological undertaking. Changes are required regarding strategy, processes as well as the systems architecture. To develop an integrated customer relationship management strategy this research draws on elements from established business redesign. The emphasis is on portals that bundle services for the patient's and physician's customer processes.

The paper pursues an action research approach where researchers have been involved in project work. The overall architecture framework has been generalized from projects with nine international companies between 2000 and 2002. One of these companies, the case of Pharma Corp., one of the largest pharma companies worldwide, is detailed in this paper. It shows how the three main architecture views strategy, process and system are used for the development of a customer‐oriented portal strategy.

Portals that support business processes have implications on the technical and business architecture alike. Existing architectures have an emphasis on individual architecture views, but rarely cover the “whole picture”. This paper argues that alignment is necessary of at least three architectures: the business architecture positions, the portal regarding the target customer segments and the (electronic) intermediaries. The process architecture identifies customer processes for each segment and derives portal services, which may also be sourced from external service providers. Thus, their configuration requires the alignment of all levels which are usually specified separately.

The architecture framework presents a first step towards a systematic methodology for re‐engineering customer relationships. It may support the project work in companies and stimulate future research towards inter‐organizational business process redesign.

Entrepreneurship.

The case can be used to teach behavioural perspective of the entrepreneurship theory for the students of Master of Business Administration (MBA) level. The case may be equally important to teach the marketing and operational context to discuss the perspectives of small- and medium-sized enterprises (SMEs).

A young Indian professional had left his lucrative job in the pharma industry to start his own business of a small training centre that trained and placed young graduates with various pharmaceutical companies as medical sales representatives (MSRs). Without borrowing anything from the financial institutions, he plunged into the business in a rented room of a school in Kolkata, India. With every sincerity and path-breaking strategy, his vocational centre, named Carreograph Institute of Management Studies (CIMS) became number one in eastern India in training and placing MSRs and managers. With a number of hand-picked professionals from the industry, this young entrepreneur changed the concept of training by introducing short-term courses like Diploma in Pharmaceutical Management to technically prepare pharmacy undergraduates with professional skills and industry overview, Post Graduate Diploma in Pharmaceutical Management to cater to the contemporary management needs of the pharma industry. For the first time in India, Carreograph launched MBA in Pharmaceutical Management in the distance learning mode, and this strategy revolutionised the concept of management teaching in India. With a huge success in MBA, Carreograph was on the verge of launching another path-breaking course, i.e. Bachelor of Business Administration (BBA) in pharma in the distance learning mode.

To analyse Tamal Chatterjee's entrepreneurial characteristics, motivations and expertise in the field and how these parameters support his proposed new venture, to consider the effectiveness of his entrepreneurial methods for finding out more about the proposed business area in which he is interested and to evaluate his idea of newly developed MBA and BBA programmes in terms of its expected acceptance among the student communities and consider if and when he should go ahead with expanding his current venture.

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The main purpose of this research is to investigate the influence of promotional inputs presented to salespeople, such as continuing medical education (CME) sponsorship and drug samples, on adaptive selling and sales performance.

This study used a mixed-methods approach. First, depth interviews were done and this was followed by a survey on 247 pharmaceutical executives in India. Data analysis was done using AMOS, Process Macro and floodlight analysis.

Results showed that CME sponsorship and drug samples drove adaptive selling and sales performance positively. Additionally, results reveal that CME program sponsorship negatively moderated the adaptive selling–sales performance relationship; free drug samples too negatively moderated this relationship.

Firms may hire salespersons with high customer orientation and adaptive selling and train them hone these further. The present research also crucially suggests that pharma firms may allocate CME sponsorship and drug samples to salespeople low on adaptive selling.

This could be the first study, to the best of the authors’ knowledge, that uses promotional inputs (such as CME sponsorship and drug samples) as an antecedent to adaptive selling and sales performance. Moreover, this is the only research that has tested CME sponsorships and drug samples as moderators to customer orientation–adaptive selling and adaptive selling–sales performance.

The principal purpose of this study is to examine the moderating influence of selling experience on the following two relationships – adaptive selling and job satisfaction and customer orientation and job satisfaction – using unionized salespeople as respondents. It also tests for the mediating role of adaptive selling in the customer orientation–job satisfaction relationship.

This paper uses data from a survey conducted on 208 pharmaceutical unionized salespeople from 46 pharmaceutical firms in India. The model was tested using structural equation modeling. Moderation hypotheses were estimated using process macro and the Johnson–Neyman technique.

The data fitted the model well. This research found that customer orientation drove adaptive selling behavior and job satisfaction, and that adaptive selling influenced job satisfaction (all positively); it was found that adaptive selling partially mediated the relationship between customer orientation and job satisfaction. Results revealed that job experience negatively moderated the adaptive selling behavior–job satisfaction and customer orientation–job satisfaction relationships.

The results show that pharma firms may hire young recruits and, importantly, measure their customer orientation and adaptive selling levels. For the purposes of training to enhance customer orientation and adaptive selling, pharma firms may send only their less experienced salespersons.

To the authors’ knowledge, this study could be the first to examine the interaction of job experience and customer-directed selling behaviors such as adaptive selling and customer orientation on job satisfaction. Moreover, this is possibly the only study in this domain that uses unionized salespeople in an emerging market (India).

The paper demonstrates prejudicial effects of the rising private participation and the lacuna of state in ensuring the accessibility and affordability of healthcare.

Secondary data analysis from national and international databases is employed to demonstrate the low government spending and the alternate healthcare financing mechanisms in the country. The company reports of six Indian pharma companies are examined to map the profits and revenues, and also taking into account the sales growth and return on investment.

The paper observes the pharmaceutical sector, via its spiralling drug prices, is the primary contributor to the huge out-of-pocket expenses borne by households. The study findings indicate that there is an increased divergence between the out-of-pocket expenses of households and exorbitant profits of the private drug companies in the country over the years.

Amidst debates on the importance of public health in the aftermath of the pandemic, the paper examines the rising hands of private sector in healthcare, and implores – who benefits? The authors study the implications via looking into the rise in the wealth of pharma giants; at the time of crisis when the lives of common citizens in the country were at stake.

The paper emphasises the repercussions of the higher markup of the pharma industry in raising the healthcare costs of households. The authors emphasise that the nonregulation of the pharma sector leads to high medical debts/poverty, in the wake of growing out-of-pocket expenditures of the citizens.

The purpose of this paper is to analyze the phenomenon of mergers and acquisition (M & A) in high-tech sectors with a special focus on biotechnological firms. Recent years have witnessed an impressive wave of M & As, but these operations, despite their popularity, have produced mixed results for their stakeholders and presented no systemic vision.

The paper is descriptive and the result of a secondary data-based research. Methodologically founded on the works of Rossi et al. (2011, 2013) and following an extensive literature review on M & A processes in high-tech sectors, the paper analyzes the dynamics, trends and attributes biotechnological M & As.

The biotechnology sector, over the economically turbulent past few years, faced a distinct difficulty in attracting significant investor capital. Traditional pharmaceutical companies with sufficient cash from their existing sales but facing a dried-out product and patent pipeline have acquired innovative, but cash-poor biotech firms. The findings indicate that the trends in the biotech industry make consolidation in this sector inevitable. For acquiring firms, therefore, it will be necessary to realize a rigorous process of strategic target identification, due diligence and unified post-merger integration as the only way to create a sustainable shareholder value and high firm performance.

The limitations of the paper are a consequence of its very nature, i.e. the fact that it is a descriptive, secondary data-based research. Further, empirical research is therefore necessary to test the findings, to refine the contextual parameters involved and to prescribe target-specific action.

The value of the paper stems from its definition of the link between the biotech industry attributes and M & A activities, consequently offering a valuable theoretical basis for empirical development and practical application, as well as a context for prescribed actions and processes.

Mergers and acquisitions (M&) are increasingly becoming a strategy of choice for companies attempting to achieve and sustain competitive advantage. However, not all M&As are a success. In this paper, we examine the three main reasons highlighted in the literature as major causes of M&A failure (clashing corporate cultures, absence of clear communication, and employee involvement) in three Indian pharmaceutical companies, and we analyze the role played by the HR function in addressing them. Also, we discuss the importance of gaining the commitment and focus of the workforce during the acquisition process through employee involvement.

Drawing on socio-cognitively orientated leadership studies, this paper aims to contribute to our understanding of host country employees’ (HCEs) negative perceptions of successive expatriate leadership by exploring how their memories of shared past experiences affect these perceptions. Contrary to previous work which tends to focus on HCEs’ attitudes towards individual expatriates, the authors shift attention to successive executive expatriate assignments within a single subsidiary.

The paper is based on an intrinsic case study carried out in a Polish subsidiary of an American multinational pharmaceutical company which had been managed by four successive expatriate General Managers and one local executive. The authors draw on interview data with 40 HCEs. Twenty-one semi-structured interviews were conducted with staff who had been managed by at least three of the subsidiary’s expatriate leaders.

The authors demonstrate how transference triggered by past experiences with expatriate leaders as well as HCEs’ implicit leadership theories affect HCEs’ negative perceptions of expatriate leadership and lead to the emergence of expatriate leadership schema.

To the best of the authors’ knowledge, this is the first study that explores the role of transference and implicit leadership theories in HCEs’ perceptions of successive executive expatriate assignments. By focussing on retrospective accounts of HCEs who had been managed by a series of successive expatriate leaders, our study has generated a more nuanced and contextualised understanding of the role of HCEs’ shared past experiences in shaping their perceptions of expatriate leadership. The authors propose a new concept – expatriate leadership schema – which describes HCEs’ cognitive structures, developed during past experiences with successive expatriate leaders, which specify what HCEs believe expatriate leadership to look like and what they expect from it.