AMBER PHARMACEUTICALS
In a pharmaceutical company manufacturing and marketing drugs and medicines, the research staff has developed a number of new products and formulations that are effective. However, it has to meet severe competition from stalwarts with foreign collaboration. Mr. Shah, the Vice President of Marketing, has a very successful Pharma Marketing background. He has been with the company for the past 4 years. Mr. Shah had made ambitious plans for capturing a sizeable share of the market in the Gujarat State. The company, being medium-sized, Mr. Shah had kept his marketing department and the marketing team lean and trim. The field sales staff was given aggressive targets and were virtually pushed to reach their respective targets. The field staff worked to their best abilities to compete for their respective targets. Mr. Shah had himself been working hard almost 11-12 hours a day. There was no formal appraisal and reward system in the company. During the last 5 years, more than 60 Medical Representatives and the Area Supervisors had left the company due to unsatisfactory increments and promotions. Those who left the company were star workers. However, Mr. Shah did not care for this high turnover. He was overconfident that he would be able to hire freshers and also select candidates who were not happy with their remuneration in their respective company. Mr. Shah had never communicated to the field sales staff about their performance or reasons for not recognizing their outstanding performance in a few cases. There was, on the whole, great dissatisfaction, and good performers were leaving the company.
What are the steps you will take sequentially to correct the situation?
In a pharmaceutical company manufacturing and marketing drugs and medicines, the research staff has developed a number of new products and formulations that are effective. However, it has to meet severe competition from stalwarts with foreign collaboration. Mr. Shah, the Vice President of Marketing, has a very successful Pharma Marketing background. He has been with the company for the past 4 years. Mr. Shah had made ambitious plans for capturing a sizeable share of the market in the Gujarat State. The company, being medium-sized, Mr. Shah had kept his marketing department and the marketing team lean and trim. The field sales staff was given aggressive targets and were virtually pushed to reach their respective targets. The field staff worked to their best abilities to compete for their respective targets. Mr. Shah had himself been working hard almost 11-12 hours a day. There was no formal appraisal and reward system in the company. During the last 5 years, more than 60 Medical Representatives and the Area Supervisors had left the company due to unsatisfactory increments and promotions. Those who left the company were star workers. However, Mr. Shah did not care for this high turnover. He was overconfident that he would be able to hire freshers and also select candidates who were not happy with their remuneration in their respective company. Mr. Shah had never communicated to the field sales staff about their performance or reasons for not recognizing their outstanding performance in a few cases. There was, on the whole, great dissatisfaction, and good performers were leaving the company.
What are the steps you will take sequentially to correct the situation?