DB FPX 8610 Assessment 1 Analyzing and Reflecting on Completed DBA Capstone Projects in Business Administration

DB FPX 8610 Assessment 1 Analyzing and Reflecting on Completed DBA Capstone Projects in Business Administration

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Capella University

DB-FPX8610 Leadership Theory and Practice

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    Analyzing and Reflecting on Completed DBA Capstone Projects in Business Administration

    The qualitative exploration of the re-skilling of the pharmaceutical sales force showed that pharmaceutical organizations are in a state of unparalleled panic to make changes to the old product-selling paradigms. The capstone project finds that relationship marketing principles, along with technological competencies, are needed in the successful process of digital transformation. The results of the capstone on re-skilling suggested that the formal organization training and skills development programs led by employees should be structured by pharmaceutical company leaders (Wise, 2021). The study also presented realistic knowledge on how the already established industries can handle the mess in the territories of the digital marketplace.

    Evaluation of Problem Statement and Business Administration Relevance

    The capstone project dealt with the particular business issue that pharmaceutical leaders who have failed to re-skill their sales representatives to utilize digital communication channels are losing market share and sales to their competitors. Pharmaceutical companies that are not re-skilling communication through digital means are losing market share and sales (Wise, 2021). The research problem exhibited considerable importance to the study of business administration as it has investigated the key points related to the management of organizational change, the strategy of adopting technologies, and the transformation of the workforce in the traditional industries. The results of the study provided the necessary information to business leaders who have to overcome the disruptive nature of the digital marketplaces and competitive pressures.

    Assessment of Key Findings and Business Sector Implications

    The research discovered that there are four significant themes that are essential in challenging the conventional pharmaceutical sales within the business context of today. Sales representatives became the most dominant case, and 297 mentioned the effectiveness of peer-to-peer learning compared to training (Wise, 2021). The discussion has revealed that digital communication lines, in particular, Veeva Engage, should be used in real-time, which aided in reaching regions where no physicians were available (Wilcox et al., 2019). The results indicated that pharmaceutical organizations are required to replace product-based to customer-based digital relationship marketing approaches.

    Integration of Theoretical Concepts and Practical Applications

    The capstone project revealed that the data competency machine enables the pharmaceutical representatives to create individual messages to the physicians by adopting customer-related management technologies as a strategy. The adopted model of relationship marketing and the digital competency model presented by Braun and Latham (2020) are skillfully developed to purchase and apply in a practical version. This approach also supports consistent engagement by connecting digital tools with routine communication practices. The interface competency theory can be implemented in practice, as was done on the Veeva Engage platform, where representatives are given the possibility to conduct office operations in online communication (Wise, 2021). Digitalization competency facilitates a shift between theory and practical sales force development, which can be explained by the fact that the participants are focusing on online face-to-face communication (Berry, 2002). The entire amalgamation can enhance the value that the research contributed to the development of evidence-based practice in the organizational transformation and development of digital representation in the workforce.

    Implementation of Capstone Conclusions in a Specific Business Context

    The re-skilling model is a direct response to the lack of leadership development at Breakthrough Technologies by organizing digital competency training for middle-level managers. The four-theme strategy of the study allowed organizations to connect past management operations with the modernized forms of digital leadership demands (Illanes et al., 2018). The sales representative-based learning models can be transformed into peer-based leadership development models that can promote in-house career advancement and lower the cost of turnover. The solution should be implemented through a combination of formal organizational training and self-directed learning, which is what Wise has discovered to be the best.

    Conclusion

    As evidenced in the reflection, the capstone project offers fundamental knowledge on organizational change in a fast-changing digital marketplace. The methodological rigor and practical application of the study provide useful templates to business leaders who are currently dealing with technological disruption within industries. The study is important to business administration literature because it provides a connection between relationship marketing theory and current digital competency needs. The results also form the background knowledge for further research on the re-skilling strategy of the workforce and the management practice of organizational change.

    References for
    DB FPX 8610 Assessment 1

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      Berry, L. L. (2002). Relationship marketing of services perspectives from 1983 and 2000. Journal of Relationship Marketing, 1(1), 59-77. https://doi.org/10.1300/J366v01n01_05

      Braun, M., & Latham, S. (2020, April 6). The future of work. Montana Business Quarterly. https://www.montanabusinessquarterly.com/the-future-of-work/

      Eggert, A., & Serdaroglu, M. (2011). Exploring the impact of sales technology on salesperson performance: A task-based approach. Journal of Marketing Theory and Practice, 19(2), 169-185. https://doi.org/10.2753/MTP1069-6679190204

      Illanes, P., Lund, S., Mourshed, M., Rutherford, S., & Tyreman, M. (2018, January). Retraining and reskilling workers in the age of automation. McKinsey & Company. https://www.mckinsey.com/global-themes/future-of-organizations-and-work/retraining-and-reskilling-workers-in-the-age-of-automation

      Pawar, R. (2017). The power of customer-centered pharmaceutical marketing. The Kinetix Group. https://thekinetixgroup.com/the-power-of-customer-centered-pharmaceutical-marketing/

      Wilcox, I., Lennon, T., Maher, B., & Less, J. (2019). The future of selling in healthcare: An approach to disruptive change [White paper]. ZS Associates. https://www.zs.com/insights/the-future-of-selling-in-healthcare-an-approach-to-disruptive-change

      Wise, A. (2021). Reskilling pharmaceutical sales representatives in a digital marketplace [Doctoral capstone project, Capella University]. https://campus.capella.edu/web/doctoral-programs/research-scholarship/institutional-review-board

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