Factors determining long-term investment decisions in the pharmaceutical sector

This research aims to identify the determinants external factors decisions long-term investment in the pharmaceutical sector of Zulia state. From the theoretical point of view, the main cited authors are David (2008), Hitt and others (2004) and Hill and Jones (1996). Methodologically, is descriptive typology, with a non-experimental design of field and cross. The population were seven (7) registered pharmacies and active in the Municipal Register of the Bolivarian Mayor of Ciudad Losada - Estado Zulia to May 2015. Structured as a tool for data collection questionnaire was used applied to general managers who were reporting units; it was validated by five (5) experts and the level of reliability using the Alpha-Cronbach was 0.89. The results show that the determinants of decisions of long-term investment in the pharmaceutical sector of Zulia state are: inflation, shortages, price fluctuations, the consumption pattern and trend of unemployment (within economic factors); buying habits (within the social, cultural, demographic and environmental factors); monetary policy and fiscal policy (within the political and legal factors, government); advances in technology (within the technological factors) and weaknesses in the portfolio of products offered by the competition (within the competitive factors).