Pharmaceuticals Discussion

Pharmaceuticals Discussion essay assignment

please respond to the following discussion post as a peer making a comment.” One leader who I believe successfully lead an organization through challenges was Richard Clark. Richard Clark was the CEO of Merk Pharmaceuticals from 2005 to 2010. When Richard Clark joined Merck in 2005, the pharmaceutical company was embroiled in a scandal. Its arthritis drug Vioxx had been pulled from the market after it was linked to numerous heart attacks and deaths. Clark’s focus was to pull the organization out of public relations crises and financial issues. He always stated that he didn’t intend to be Merck’s last CEO. During his time as CEO, he closed five manufacturing plants, cut 7,000 jobs, and focused on the approval of eight new drugs. He also settled the Vioxx lawsuits for $4.85 billion. Three years later, Merck’s stock price was almost double its April 2005 low. Clark stepped down as CEO in 2010; he served as board chairman until his retirement in 2011 (Vozza, 2018). Some of the leadership styles and approaches that Clark employed during his time as CEO were Authoritarian and Delegation models. Authoritarian leadership styles allow a leader to impose expectations and define outcomes. A one-person show can turn out to be successful in situations when a leader is the most knowledgeable in the team.

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The authoritarian leadership style is also used when team members need clear guidelines. The delegative leadership style focuses on delegating initiative to team members. This can be a successful strategy if team members are competent, take responsibility, and prefer engaging in individual work. As a result, I think these leadership styles were effective because Merk Pharmaceuticals was needing a lot of time to spend on making crucial decisions, their chain of command needed to be clearly emphasized, and their past mistakes needed to be in the implementation of new plans to avoid past mistakes, and they needed strong delegative leadership to create positive outcomes (IMD, 2022).

References:

IMD. (2022). The 5 Leadership Styles you can use & How to implement each in 2022. IMD Business School. Retrieved May 22, 2022, from https://www.imd.org/imd-reflections/reflection-page/leadership-styles/

Vozza, S. (2018, August 3). 10 Inspirational Leaders Who Turned Around Their Companies. Entrepreneur. Retrieved May 22, 2022, from https://www.entrepreneur.com/slideshow/225890

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