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PESTEL analysis on United Drug
United Drug Plc is a very successful company operating in the pharmaceutical industry. To put it more precisely, the company provides outsourcing solutions for pharmaceutical retailers. In this respect, it is important to lay emphasis on the fact that the provision of outsourcing services in the pharmaceutical industry is very important in the contemporary business environment and opens large perspectives for the development of the company. In actuality, United Drug Plc. has a positive marketing performance and the company keeps growing expanding its business internationally. At the same time, the Republic of Ireland and the UK are still the major target markets for United Drug Plc. On the other hand, United Drug Plc. faces the growing competition that may become a serious threat to the future development of the company, especially today in the time of the economic recession. Nevertheless, United Drug has a substantial potential for growth and it can overcome successfully the problem of the growing competition through its orientation on the introduction of innovations and international market expansion.
On analyzing the current position of United Drug Plc, it is important to stress the general trend in the pharmaceutical industry to use outsourcing en masse. This trend is particularly strong among pharmaceutical retailers. This trend opens large opportunities for United Drug Plc. for growth because the company provides outsourcing services. In this respect, it is worth mentioning the fact that the political situation is favorable for the development of business internationally and this is exactly what makes the development of United Drug Plc. particularly successful. At this point, it is important to remind that the company operates in Ireland and the UK mainly. Within the last couple of decades the political situation in these countries has become more stable than it used to be in the past, especially after the resolution of the conflict in Ulster. At the same time, the company expands internationally and today many countries tend to cooperate with each other eliminate barriers on the way of capital, both financial and human. Moreover, many countries stimulate foreign direct investments that are favorable for United Drug Plc. because the company attempts to expand its markets and enter new markets abroad.
The economic situation is also favorable for United Drug Plc. because the process of globalization facilitates the implementation of the strategy of international market expansion, which is crucial for the development of United Drug Plc. Today, the elimination of fiscal barriers facilitates consistently operations of United Drug Plc internationally. In addition, globalization stimulates outsourcing because companies can use outsourcing to localize the production and distribution. In this respect, United Drug Plc. proves to be very helpful because the company has a well-developed network in Ireland and the UK and extends internationally focusing on European and American markets mainly. As a result, pharmaceutical retailers can outsource pharmaceutical services to United Drug Plc. and get access to new, large markets.
In addition, the social situation is stable in countries where United Drug Plc. operates in well-developed countries mainly, where social conflicts are rare and the social order is stable. In such a situation, the company can develop a long-run strategy and implement its strategic plans successfully. At the same time, it should be said that lower risks the company has in Europe and America imply lower returns on investments.
The high technological development of the company and the progress of medicine and pharmaceutical industry are important factors that contribute to a stable position of United Drug Plc. In fact, the company invests in innovations and attempt to take the leading position in the pharmaceutical industry to provide outsourcing services for pharmaceutical retailers at the top quality. The investments in innovations improve the quality of services and the effectiveness of the organizational performance.
In addition, the current environment is favorable for the development of United Drug Plc. because it operates in pharmaceutical industry and today people grow more and more concerned with their health. As a result, the demand for products of pharmaceutical industry increases constantly and United Drug Plc helps other companies to meet the growing demand.
Finally, legal factors also contribute to the development of United Drug Plc’s business. The legislation stimulates the development of business and simplifies the procedure of outsourcing. On the other hand, pharmaceutical industry is traditionally subject to the control from the part of state institutions and the company needs to meet established standards in all countries where United Drug Plc operates.