GLOBAL PUBLIC PRIVATE PARTNERSHIP: AN ANALOGICAL REASONING MODEL

Hyuk Kim
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Hyuk Kim: Otterbein University, Westerville, USA

Management and Marketing Journal, 2015, vol. XIII, issue 1, 188-204

Abstract: This paper aims to introduce a new strategic direction for the multinational pharmaceutical companies in terms of the access to essential, life-saving medicines. The multinational pharmaceutical companies have been severely criticized by their various stakeholders because of their business models, particularly because of the stringent patent protection on the pharmaceutical products. The multinational pharmaceutical companies should find a new strategic direction to balance their R&D-intensive, expensive business with the access to essential, lifesaving medicines since favorable public relations are critical for the multinational pharmaceutical companies to maintain their profitable business. This paper adopts an Analogical Reasoning Model (ARM) to propose a new strategic direction for the multinational pharmaceutical companies in an effort to balance their expensive business with the enhanced social responsibility. In essence, the ARM helps the multinational pharmaceutical companies formulate viable strategies that can realize a win-win situation not only for their stakeholders but also for the pharmaceutical companies themselves. The ARM is constructed, analyzing the food and beverage industry as a source environment, and suggests a comprehensive, industry-wide, multi-stakeholder public-private partnership, led not by the public sector but by the multinational pharmaceutical companies.

Keywords: Access to Essential Life-Saving Medicines; Public Private Partnership; Analogical Reasoning Model; Multinational Pharmaceutical Companies; Multinational Food and Beverage Companies (search for similar items in EconPapers)
JEL-codes: M30 M31 (search for similar items in EconPapers)
Date: 2015
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