Emcure Visit

The visit to Emcure was certainly an interesting and fascinating experience. We visited the Emcure office on the 11th of October as a part of our Business Management and Economics class.

The objective of the trip was to allow us to witness the functioning of a business, economic aspects and make connections to the theoretical concepts we learn in class. We learnt that Emcure is a pharmaceutical company which is aiming to become the largest in the Indian pharmaceutical market. In short, Emcure is quite a unique fast-growing pharmaceutical company that produces a wide range of generic, and branded pharmaceutical products, in treating rare, yet fatal diseases. For years, the company had been operating only in the secondary sector, as a manufacturer for other globally established companies, with one of the biggest ones being Johnson and Johnson’s.

When Emcure realized its capability to possibly lead the market, they opened up in the tertiary sector, as well. It was a great threat, at first, but as the company started to represent a unique selling point in the market, great opportunities were created. A change in leadership with Mr. Vikas Thapar as CEO, and Ms. Namita Thapar as CFO, helped Emcure to expand into new markets, all around the world, and have various product developments. They commenced the exporting of Emcure’s products around 2008, and officially, they became a separate business. As a result of this, in today’s market, Emcure stands at 11th amongst the top companies in the Indian pharmaceutical industry, with a 3% market share. We could connect with various business and economic concepts that were implicitly used by Mr. Thapar in his presentation.

The objective of the trip was definitely achieved as we were introduced to the workings of the business, its model, goals and more. The visit to their factory was very amusing as we had an actual blister of pills being made before us. During our visit, we did not just gain insight into the business aspect but also was also able to gain some insights about how pharmaceutical companies work. To top this all we had an opportunity to have a question and answer session with the heads of the main departments like HR, R&D, Finance, Sales and Acquisition team. This allowed us to understand how the different areas of the business are dealt with and how the distribution of responsibility works within the business. Moreover, it reiterated much of what we learned in Business as well as Economics class. For instance, the importance of building brand image, the stakeholders in a business, importance of cost control, export related norms to be followed, aspects of an economy to be considered and more.

The trip was an educational opportunity but it was also refreshing to learn outside the bounds of the classroom. We were all fascinated with the fact that such a substantial organisation, in terms of both their work and reach, was situated so close to our school and we would have never even known. We also learned about Emcure’s CSR and it helped us to understand how companies approach CSR depending on their industry and their position. Overall, this was a very fruitful learning experience and the team at Emcure was very welcoming and made sure that the experience was incredible for all of us. Some notes we took during the presentations:

– Akash and Sanjana.

Human systems and economic activities	The study of how and why people construct organizations and systems; the ways in which people connect locally and globally; the distribution of power and authority.
Social organization and culture	The study of people, communities, cultures and societies in the ways in which individuals, groups and societies interact with each other.
Continuity and change through time	The study of the relationships between people and events through time; the past, its influences on the present and its implications for the future; people who have shaped the future through their actions.
Human and natural environments	The study of the distinctive features that give a place its identity; how people adapt to and alter their environment; how people experience and represent place; the impact of natural disasters on people and the built environment.
Resources and the environment	The interaction between people and the environment; the study of how humans allocate and manage resources; the positive and negative effects of this management; the impact of scientific and technological developments on the environment.

Living things	The study of the characteristics, systems and behaviours of humans and other animals, and of plants; the interactions and relationships between and among them, and with their environment.
Earth and space	The study of planet Earth and its position in the universe, particularly its relationship with the sun; the natural phenomena and systems that shape the planet and the distinctive features that identify it; the infinite and finite resources of the planet.
Materials and matter	The study of the properties, behaviours and uses of materials, both natural and human-made; the origins of human-made materials and how they are manipulated to suit a purpose.
Forces and energy	The study of energy, its origins, storage and transfer, and the work it can do; the study of forces; the application of scientific understanding through inventions and machines. (IBO, 2009)

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