Pharma Veterans

About Family Businesses – Part 6 – Recommendations – Asrar Qureshi’s Blog Post #712 Dear Colleagues!  This is Asrar Qureshi’s Blog Post #712 for Pharma Veterans. Pharma Veterans welcome sharing of knowledge and wisdom by Veterans for the benefit of Community at large. Pharma Veterans Blog is published by Asrar Qureshi on  WordPress, the top blog site. Please email to asrar@asrarqureshi.com for publishing your contributions here. Photo Credit: Thirdman Photo Credit: Tim Douglas This series of articles partakes from some material published in INSEAD Knowledge. INSEAD is in France and is highly ranked among the most prestigious business schools of the world. INSEAD Professor of Economics and Academic Director of the Wendel International Center for Family Enterprises, Morten Bennedsen defines two major reasons for the floundering of family businesses: not defining corporate governance; and not bringing external executives in to manage the firm. We have talked much about corporate governanc

About Family Businesses – Part 5 – Asrar Qureshi’s Blog Post #711 Dear Colleagues!  This is Asrar Qureshi’s Blog Post #711 for Pharma Veterans. Pharma Veterans welcome sharing of knowledge and wisdom by Veterans for the benefit of Community at large. Pharma Veterans Blog is published by Asrar Qureshi on  WordPress, the top blog site. Please email to asrar@asrarqureshi.com for publishing your contributions here. Photo Credit: Andrea Piacquadio Photo Credit: Fox This series of articles partakes from some material published in INSEAD Knowledge. INSEAD is in France and is highly ranked among the most prestigious business schools of the world. We continue to look at some negative factors which became barrier in the development of the Pharma companies.  Over-Centralization Centralization is common in most organizations; over-centralization is also not uncommon. It is when the owner insists on doing/approving everything, even a ten rupees expense. There is zero delegation and zero tolerance f

About Family Businesses – Part 4 – Asrar Qureshi’s Blog Post #710 Dear Colleagues!  This is Asrar Qureshi’s Blog Post #710 for Pharma Veterans. Pharma Veterans welcome sharing of knowledge and wisdom by Veterans for the benefit of Community at large. Pharma Veterans Blog is published by Asrar Qureshi on  WordPress, the top blog site. Please email to asrar@asrarqureshi.com for publishing your contributions here. Photo Credit: Anastasia Shuraeva Photo Credit: Elina Fairytale This series of articles partakes from some material published in INSEAD Knowledge. INSEAD is in France and is highly ranked among the most prestigious business schools of the world. Let us look at some negative factors which became barrier in the development of the Pharma companies.  Sticking to Traditional Model As Allama Iqbal said, ‘Tarz e kohun pe arrna – sticking to old style’ is a difficult, critical stage in the life of nations and enterprises. The story is ubiquitous, from Nokia to Blackberry to Kodak to our

About Family Businesses – Part 3 – Asrar Qureshi’s Blog Post #709 Dear Colleagues!  This is Asrar Qureshi’s Blog Post #709 for Pharma Veterans. Pharma Veterans welcome sharing of knowledge and wisdom by Veterans for the benefit of Community at large. Pharma Veterans Blog is published by Asrar Qureshi on  WordPress, the top blog site. Please email to asrar@asrarqureshi.com for publishing your contributions here. Photo Credit: Forbes.com Photo Credit: Google Images This series of articles partakes from some material published in INSEAD Knowledge. INSEAD is in France and is highly ranked among the most prestigious business schools of the world. We continue with the positive factors which have helped pharmaceutical companies grow. Our focus is on local, generic pharmaceutical corporates. Infrastructure, Policies and Processes The lynchpin of sustained progress is development of appropriate infrastructure, policies, and processes. The infrastructure is formed as the needs evolve. Successful

About Family Businesses – Part 2 – Asrar Qureshi’s Blog Post #708 Dear Colleagues!  This is Asrar Qureshi’s Blog Post #708 for Pharma Veterans. Pharma Veterans welcome sharing of knowledge and wisdom by Veterans for the benefit of Community at large. Pharma Veterans Blog is published by Asrar Qureshi on  WordPress, the top blog site. Please email to asrar@asrarqureshi.com for publishing your contributions here. Photo Credit: Ketut Subiyanto Photo Credit: Paul Efe Photo Credit: RF._.studio This series of articles partakes from some material published in INSEAD Knowledge. INSEAD is in France and is highly ranked among the most prestigious business schools of the world. We continue with the positive factors which have helped pharmaceutical companies grow. Our focus is on local, generic corporates. Courage to Change Most organizations start small and then develop if they develop. Initially, there are few people in every function, and they work closely with the entrepreneurs. They are the f

About Family Businesses – Part 1 – Asrar Qureshi’s Blog Post #707 Dear Colleagues!  This is Asrar Qureshi’s Blog Post #707 for Pharma Veterans. Pharma Veterans welcome sharing of knowledge and wisdom by Veterans for the benefit of Community at large. Pharma Veterans Blog is published by Asrar Qureshi on  WordPress, the top blog site. Please email to asrar@asrarqureshi.com for publishing your contributions here. Photo Credit: Andrea Piacquadio Photo Credit: Fox Photo Credit: Karolina Grabowska This series of articles partakes from some material published in INSEAD Knowledge. INSEAD is in France and is highly ranked among the most prestigious business schools of the world. Almost all businesses start as family business, even if they are started by one individual. However, the future trajectory varies greatly. It is reported that around 70% fail even before the second generation takes over. There are many reasons for such huge failure, but it is mostly due to failure to change as per need

My New Book Titled ‘Rise of Local Pharma Industry in Pakistan – Asrar Qureshi’s Blog Post #706 Dear Colleagues!  This is Asrar Qureshi’s Blog Post #706 for Pharma Veterans. Pharma Veterans welcome sharing of knowledge and wisdom by Veterans for the benefit of Community at large. Pharma Veterans Blog is published by Asrar Qureshi on  WordPress, the top blog site. Please email to asrar@asrarqureshi.com for publishing your contributions here. Published: September 2019 Published: September 2022 My New Book Titled ‘Rise of Local Pharma Industry in Pakistan – Past, Present, SWOT, Way Forward’ has been published. It has been published by Nai Soch Publishers who may be contacted at 042 37361416 or WhatsApp at 0300 8475843. Actually, this is my second book; the first was ‘Aik Aam Aadmi ka Hajj’ which was published in 2019 when I returned from Hajj. As you know I write blogs in this space and my topics are mostly related to Pharma Industry, Pharma Industry Pakistan, the issues that are being fac

Entrepreneurship within the Pharma Industry – Last Part – Asrar Qureshi’s Blog Post #705 Dear Colleagues!  This is Asrar Qureshi’s Blog Post #705 for Pharma Veterans. Pharma Veterans welcome sharing of knowledge and wisdom by Veterans for the benefit of Community at large. Pharma Veterans Blog is published by Asrar Qureshi on  WordPress, the top blog site. Please email to asrar@asrarqureshi.com for publishing your contributions here. Photo Credit: Andrea Piacquadio Photo Credit: Andrea Piacquadio Photo Credit: Yasin Gündogdu Suggestions for Making and Running a Successful Enterprise  We have seen various types of entrepreneurs and we have seen a host of reasons that contribute to failure of enterprises.  Let us say again that over 90% entrepreneurial ventures fail, some even after five years. Two inferences must be drawn here. An enterprise is established after great endeavors against odds, and an enterprise is not safe unless it attains a certain size. Anything can happen, but usually

Entrepreneurship within the Pharma Industry – Part 5 – Asrar Qureshi’s Blog Post #704 Dear Colleagues!  This is Asrar Qureshi’s Blog Post #704 for Pharma Veterans. Pharma Veterans welcome sharing of knowledge and wisdom by Veterans for the benefit of Community at large. Pharma Veterans Blog is published by Asrar Qureshi on  WordPress, the top blog site. Please email to asrar@asrarqureshi.com for publishing your contributions here. Photo Credit: Alex Green Photo Credit: Nathan Cowley Reasons for Failure – Continued…… We continue our discussion on entrepreneurship by the Pharma Industry employees. Poor Availability/ Inefficient Distribution The two points may not always necessarily mean the same but are related. A new pharmaceutical enterprise gets a small distributor who will have limited finances, small team, and patchy coverage of the market. It is a compulsion because bigger distributors will not accept a new, small enterprises, and even if they accept it, the small company will get

Entrepreneurship within the Pharma Industry – Part 4 – Asrar Qureshi’s Blog Post #703 Dear Colleagues!  This is Asrar Qureshi’s Blog Post #703 for Pharma Veterans. Pharma Veterans welcome sharing of knowledge and wisdom by Veterans for the benefit of Community at large. Pharma Veterans Blog is published by Asrar Qureshi on  WordPress, the top blog site. Please email to asrar@asrarqureshi.com for publishing your contributions here. Reasons for Failure – Continued…… We continue our discussion on entrepreneurship by the Pharma Industry employees. Employee Mindset Someone, who has been working as an employee for several years, develops a certain mindset. He is part of a team where work is divided, and responsibility is shared. Everyone does their job and goes home, leaving office worries behind. It is rare to get disturbed in off hours. Then there is possibility of annual leaves, casual leaves (which are taken mostly for casual reasons), and sick leaves (mostly availed as a matter of right

Entrepreneurship within the Pharma Industry – Part 3 – Asrar Qureshi’s Blog Post #702 Dear Colleagues!  This is Asrar Qureshi’s Blog Post #702 for Pharma Veterans. Pharma Veterans welcome sharing of knowledge and wisdom by Veterans for the benefit of Community at large. Pharma Veterans Blog is published by Asrar Qureshi on  WordPress, the top blog site. Please email to asrar@asrarqureshi.com for publishing your contributions here. Photo Credit: Darina Belonogova Photo Credit: Rodnae Production Reasons for Failure I am emphasizing once again that 90% or more startups fail worldwide, disregarding which industry they belong to. Failure in Pharma Industry is even higher. Let us look at the reasons why it is so. Unclear Plan, Unclear Expectations Pharma industry is among the most formal industries. Analysis, planning, strategies, tactics, are everyday words and work. And all this is done on paper, and on Excel sheets, and PowerPoint presentations. However, when the same people get into thei