Essay Sample on Inequality in Market: Unfair Representation of Industries?

Introduction

In our current market, currently, there is inequality in the representation of the interests of consumers in the market. This is because different industries are not equally viewed and measured in the market. Unequal representation of industries in the society is termed as unethical in nature. This is because when there is inequality, there is no sufficient growth in the company productivity level in the market. With the current competition and inequality makes small and upcoming industries to be directly targeted in the environment. The large and robust companies will, therefore, thrive in the market, leaving small companies to collapse due to inequality representation in the market. For instance, small companies may face the challenge of internal or external forces that led to a collapse in the structural growth in an organization (Braithwaite, 2013). However, in order for these companies to thrive in the market, they should set an ethical obligation that will protect the people from inequality representation in the market. Therefore, this paper will analyze how the pharmaceutical industry protects should be protected in the market.

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The pharmaceutical industry plays an essential role in the growth and stability of the industry. One of the critical factors in the pharmaceutical industry is that it secures the patient's safety in the environment. Patients will be in a position to live in long and healthy lives. The pharmaceutical sector recommends a more significant and frequent private industry in the market, which helps in the domestic regulations of the private sector in the market (Braithwaite, 2013). With a productive pharmaceutical industry, more internal and private-sector will develop in the market.

There are clear and transparent procurement procedures in the pharmaceutical industry, a factor that improves innovations and creativity in accessing medicines. According to the survey that was released by the World Health Organization stated that more than 80% of the consumers could access medical services due to increased levels of pharmaceuticals sectors in the market (DiMasi, Grabowski & Hansen,2016). Apart from the rate of creativity, innovation and health the system brings in the market, it also creates employment opportunities to millions of entrepreneurs, both local and international. Pharmaceuticals Industry, therefore, should be equality viewed in the industry without any form of biasness.

The pharmaceutical industry also acts as an intermediary between the public health sector and the local sector. The health ministry, in most situations, consults the pharmaceuticals in matters concerning the health status of the consumers in the country. The industry also coordinates the economic nature of the country; this is because the government will be in a position to obtain revenue collection from the sector.

Pharmaceuticals industry companies can carter to the interests of both the consumers in the market and its operational structure. The industry has a set of legal policy that controls its operations in and around the environment structure. The pharmaceutical companies are customer based oriented in which they will be able to represent the critical interests of the customers in the market. According to the statistics that was done indicated that over 80% of pharmaceutical companies are the most successful in the market structure. (DiMasi et al. 2016). However, most pharmaceutical companies have a capable management team that controls the critical roles in the organization's operations. Customers are the key target for the growth and prosperity of the company; therefore the company will ensure that they deploy an effective plan in the management of the company structure.

Conclusion

All Industries should have equal representation in the market currently. However, with equal representation in the market, all the industries will be able to meet their goals and development in the industry. The pharmaceutical industry has played an essential role in the growth and prosperity of the company in one way or the other. However, in this paper, we have analyzed some of the critical factors in industry equality in our current.

References

Braithwaite, J. (2013). Corporate Crime in the Pharmaceutical Industry (Routledge Revivals). Routledge.Retrieved from https://www.taylorfrancis.com/books/9780203597712

DiMasi, J. A., Grabowski, H. G., & Hansen, R. W. (2016). Innovation in the pharmaceutical industry: new estimates of R&D costs. Journal of health economics, 47, 20-33.Retrieved from https://www.sciencedirect.com/science/article/pii/S0167629616000291