Peace Medical Corporation LTD (“Peace Medical”) was co-founded by Jeff Jiang in 2001 together with Chongqin Medicine Company (“CMC”) with headquarters located in Chongqing, China. Jiang hold 49% of ownership of the company while CMC hold a 51% of majority ownership. Both CMC, and Peace Medical sale pharmaceutical products from other manufactures and offer them to hospital-based pharmacies or retail drug stores. In the seven years of evolution, the company has growth sales despite China’s competitive pharmaceutical distribution industry. To the contrary, Peace Medical had just attained a new contract to supply another very large hospital in Chongqing. Jiang based the success of the company due to the “strong organizational culture, good management techniques, and clear …show more content…
He also felt that by encouraging employee’s to share their opinions and ideas to put them into practice if approved by mid-level to top managers. Additionally, the company has a learning and innovation core competence. The company promotes learning through training with the latest information about new drugs. The trainings also focus on enhancing employee’s communication skills, sales techniques and to become more adequate with computer software’s. The company will also pay for college courses when appropriate. Jiang stated that learning and innovation were essential for a company that promoted pharmaceutical products on behalf of a manufacture. “In some respect, competition between companies is a competition based on learning abilities.”(Fratantuono, & Li, 2008). I honestly believe that if employees are not ready and willing to learn beyond their abilities the company can have a setback in a fast moving environment. Moreover, another core competency I believe Peace Medical group possess is Honesty which can be call Business Ethics. According to Jiang trust and loyalty of employees were critical for him. He also wanted his company to earn merits of the services offered rather than paying