EFFECTIVE DRUG MAKING NEEDS BETTER LOCAL TEAM WISDOM: AN EMPIRICAL STUDY OG THE HERBAL CITY PHARMACEUTICAL OF SARABURI THAILAND

Abstract

While the mechanism of local team wisdom, which mainly refers to the ability of team members to make the right use of their information and knowledge mainly through their actions, ethical judgments, and decisions. Though, the main aim of this research paper is to evaluate the impact of team wisdom mechanisms on the innovation performance of pharmaceutical firms in Thailand. Based on the mechanisms and framework of firm wisdom and group wisdom, this research study also examines the mediating impact of team virtue and team intention on the relationship between local team wisdom and innovation performance. This research paper also aims to identify the innovation process of the pharmaceutical firm’s team wisdom as a mechanism for how team individual’s best to use the flow of their information through ethical virtues and emotions. By examining different pharmaceutical firms in Thailand this research study empirically indicate that the role of team wisdom mechanism is significant in improving the innovation performance of the sector. The findings of this research study also concluded that the impact of team virtue and team intention is so positive in improving the relationship between local team wisdom and innovation performance. There are several managerial and practical implications of this research.