Towards Resilience and Sustainability: Exploring the Pharmaceutical and Life Insurance Frontiers

Value creation and getting above average returns have been the foundation of all strategy formulation and implementation processes across businesses worldwide. However, with the pandemic having brought in the element of great unpredictability and crisis, incorporating sustainability and enhancing resilience has emerged as the buzzwords across strategies, systems and processes in organizations. With the pharmaceutical industry and the life insurance sector impacting the global health systems during the pandemic and thereafter, the focus towards sustainability and resilience enhancement continues to be the evolving frontier in strategizing for these sectors. This study is based on the review of literature to understand the factors affecting the agility, sustainability and resilience of various value chain elements holistically, the intertwining of the themes of sustainability and resilience from a sectoral perspective – pharmaceutical industry and life insurance – and the emergence of any collaborations across sectors or value chains which may have or would contribute towards sustainability practices and enhanced resilience. The findings from this study may contribute towards enhancing and incorporating sustainability and resilience across other sectoral frontiers and may pave the way towards a sustainable and thriving future.