Development of an Integrated Performance Measurement (PM) Model for Pharmaceutical Industry

Abstract

Regarding to rapidly changing and highly competitive business environment it will become increasingly important for organizations to measure their performances appropriately. With respect to special characteristics of pharmaceutical industry and lack of reported performance measurement, this study tries to design an integrated performance measurement model for pharmaceutical companies. For generating this model we first identified key performance indicators and key result indicators of a typical pharmaceutical company and then base on expert opinions the most important of them identified for considering in proposed PM model. Though, this model is more appropriate for measuring performances of pharmaceutical companies, it can be useful for measuring performances of other industries with some modification. We strongly recommended pharmaceutical managers to link these indicators with their payment system and rewards which will dramatically affects performance of employees and consequently their organization`s success.