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Subject: To respond to the challenges/opportunities facing by firm.
Being appointed as a office manager it is essential to bring in notice that Allergan Australia Pty Ltd which is a Australian pharmaceutical firm and it is advised to the business that they are planning to start its operations in other country that is feasible. It has been assessed after carrying out whole market research in which it has been evaluated that the products i.e. medicines produced by firm are suitable for the diseases prevailing in the other country (Mellahi and Frynas, 2015). There has been carried out a conservative steady growth favoured and helps in development of the firm. It will lead to enhance the sales and profitability of firm in market. After identifying the the proposed project has been rejected by the client it needs to bring in their notice that the proposed plan has been presented after a thorough analysis of the market as well as its current situation. Therefore, it has been identified that there is long term potential but bold risk taking project because without taking any risk there are no chances of attaining huge success (Hooper, 2016).
Therefore, it is advised to firm that they should take initiative to plan its operations in colleagues home country and attain maximum profits. Through increasing the market firm will be able to enhance its market share and give tough competition in international pharmaceutical market (Stead and Stead, 2013). However, there are different challenges and risk identified with the market such as keeping up with the market so that positive results can be brought. Also, planning ahead so that identified issues can be overcome. However, through overcoming such issues it can be assessed that it is feasible for the firm to market its product in other country. Management of pharmaceutical company aims to welcome change and hire skilled employees so that positive actions can be brought within firm. It is essential for firm to identify potential risks so that it could be overcome in regard to overcome issues related to expanding of business in other country (Budhwar and Debrah, 2013).
While carrying out the research regarding market feasibility it has been found that the colleagues home country is suitable for Allergan Australia Pty Ltd to establish their operation and bring success. There are various opportunities in the country as there is no tough competitor in market and thus it would help firm to bring positive results so that best actions can be undertaken (Weiss, 2014). Thus, it would help firm to identify the ideal conditions for carrying out the business. Therefore, it is essential for management of pharmaceutical firm to again identify the potential market requirements and take initiative so that different concerns such as identifying market, welcoming change, skills and attitudes of individuals, problem solving, planning ahead etc. that helps in bringing positive outcomes (Popescu, 2013).
The decision of expanding the business in colleagues home country is feasible so that different challenges/opportunities facing by Allergan Australia Pty Ltd needs to be assessed. It is essential for Australian office manager who believes in conservative and steady growth requires to identify the potential long term development of firm and come up with decision that it is feasible to establish the business in particular market and maintain manager's concern of conservative and steady growth (Wild, Wild and Han, 2014). Thus, it would help in overcoming challenges and bring positive results so that proposal could be favoured by the manager and same will be implemented in the business to attain objectives.
Another challenge faced while setting up the business is of securing budget because it is challenging task in order to establish the firm in other market. Therefore, appropriate budget requires in order to carry out the operations and overcome risks. Also, various opportunities need to be brought within firm in relation to attain desired results (Hill, Cronk and Wickramasekera, 2013).
Following are the different concerns of the managers that needs to be outlined and proposing appropriate solutions for the same so that best results can be attained. These are as follows-
· Keeping up with the market
· Planning ahead
· Managing budget
· Solving problem
· Skills and attitudes
· Welcoming change
Thus, it can be assessed that all such concerns of the Australian manager needs to be brought into action and undertaking them while carrying out the market research for establishment of firm in new market (Morschett, Schramm-Klein and Zentes, 2015). It was found that the proposed project was feasible and thus Allergan Australia Pty Ltd could start its operations in new market.
- Budhwar, P.S. and Debrah, Y.A. eds., 2013. Human resource management in developing countries. Routledge.
- Hill, C.W., Cronk, T. and Wickramasekera, R., 2013. Global business today. McGraw-Hill Education (Australia).
- Hooper, M.J., 2016. The global business handbook: The eight dimensions of international management. CRC Press.
- Mellahi, K. and Frynas, G., 2015. Global strategic management. Oxford University Press.
- Morschett, D., Schramm-Klein, H. and Zentes, J., 2015. Strategic international management. Springer.
- Popescu, G.H., 2013. Macroeconomics, Effective Leadership, and the Global Business Environment. Contemporary Readings in Law and Social Justice. (2). pp.170-176.