Question

Celgene Corporation, a biopharmaceutical company based in New Jersey, develops cutting-edge drugs in a highly regulated environment. Areas such as informatics and functional genomics evolve on a daily basis, as do the regulations that control the pharmaceutical industry. The stem cell lines Celgene needs for research are very expensive and can be hard to acquire.

At Celgene, the environment is_______________ because of the___________________ and because of the______________ . Resources are_______________ .

The managers at Celgene are facing conditions of_______________ uncertainty. This means that it will be______________ for them to make strategic decisions about the types of products the company will offer in the future.

Answer 1

At Celgene, the environment is dynamic because of the speed of change and because of the number of changing factors . Resources are scarce .

The managers at Celgene are facing conditions of high uncertainty. This means that it will be difficult for them to make strategic decisions about the types of products the company will offer in the future.

Step-by-step explanation:

From the short passage leading to the question the following points have been used in the answers provided:

a. dynamic: the change in the areas such as informatics, functional genomics and regulations means that the operating environment is dynamic not static

b. speed of change: the statement "evolve on a daily basis" shows a fast pace of changing conditions

c. number of changing factors: the factors changing include informatics, functional genomics and regulations.

d. resources are scarce due to expensive researches and difficulty in acquisition of stem cells.

e. high uncertainty: due to the rapid evolution, the managers do not predict accurately, hence a high degree of uncertainty

e. increase in uncertainty makes decision making difficult.