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Liberalisation and Globalisation are the changing face of major economies across the world. The wider implications of WTO and Patent regimes across the globe have necessitated significant changes. Competitiveness and excellence are the modern mantras that govern the philosophy of corporate world. Also, Organization change and development are the new faces of organizations. All these complexities have made the job of today' s executives more challenging than ever Thus the 'survival of the fittest' is significantly applicable in today's environment.

In this professional and stressful work environment, executives have to search for motivation that can provide them excellence&job satisfaction. Executives are supposed to innovate and perform under all situations. Further They are supposed to be consistent, process oriented and act like life-line for the organisations.

For a developing country like India, Pharma Sector is one of the very important sector that is facing the heat of this widespread change. At one end patents restrictions are mounting on Indian Pharma Organisations for new product launches. On the other end cost of health facilities and stiff competion from global players is increasing.

Thus studying managerial effectiveness and job satisfaction in Indian organizations of pharma sector carries lot of significance. In these choosen dimensions, very few research studies are available in this sector. The two Indian organizations selected under study are one of the top most organizations of this sector One of them is largest Indian turn multinational(Ranbaxy Labs Ltd.) and other is responsible for maximum mergers and acquisitions of the pharma organizations in India (Nicholas Piramals Ltd.).

In this paper the authors have studied how the various factors of organization climate effects the managerial effectiveness and job satisfaction in major players of Indian pharma industry. The study includes comparative analysis on impact of organisation climate of Ranbaxy Labs Ltd and Nicholas Piramals. The result indicates the favourable organization climate in Ranbaxy as compared to Nicholas piramals that leads to increased managerial effectiveness and job satisfaction.

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