Deriving Scenario-based Corporate Social Responsibility Practice Framework during the Outsourcing of Biopharmaceutical Products and Services

Abstract

Biopharmaceutical organizations are experiencing challenges in keeping pace with the increasing demand for drug development, the evolving nature of the value chain activities, pricing adjustments due to market competition, and the complex nature of the cross-border regulatory requirements depending on environmental sustainability measures. Outsourcing biopharmaceutical products and services (BioPS) has become a strategic imperative, introducing ambiguity in implementing, authenticating, and validating CSR and ethical standards. This paper presents a comprehensive scenario-based CSR practice framework for outsourcing BPS. The strategic combination of scenario-based planning, well-defined processes, contractual agreements, and effective partnership management is fundamental for addressing uncertainties associated with outsourcing BioPS in developing countries. The methodology to derive the CSR practice framework emphasizes the changing dynamics of identified key performance indicators (KPIs). Our research indicates that environmental sustainability, labor conditions, market competition, cultural factors, and regulatory compliance within the biopharmaceutical industry are the primary paradigms to derive, govern, and evolve the KPIs. We represent an empirical case study of outsourcing BioPS to India, illustrating the evaluation and effectiveness of the scenario-based CSR practice framework explicitly developed for the biopharmaceutical industry.

Presenters

Vikas Shah
Student, Doctor of Business Administration , Indiana Wesleyan University , Armed Forces Americas, United States

Jane Udoewa Brown
Student, Doctor of Business Administration, Indiana Wesleyan University, United States

Rachel Bailey
Student, Doctor of Business Administration, Indiana Wesleyan University, Oklahoma, United States

Victoria Karugu
Indiana Wesleyan University

Details

Presentation Type

Paper Presentation in a Themed Session

Theme

Ecological Realities

KEYWORDS

Biopharmaceutical, Corporate Social Responsibility, Environmental Sustainability, Key Performance Indicators, Outsourcing

Digital Media

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Deriving Scenario-based Corporate Social Responsibility Practice Framework during the Outsourcing of Biopharmaceutical Products and Services (pptx)

ICECES_2024_Presentation.pptx

Deriving Scenario-based Corporate Social Responsibility Practice Framework during the Outsourcing of Biopharmaceutical Products and Services (mp4)

ICECES_2024_Online_Presentation_Video.mp4

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