Strategic Management - 2 Assignment
Strategic Management - 2 Assignment
Strategic Management - 2 Assignment
Company History
1. Provide a brief history of your company / company allotted to your group (be sure to include
date of founding or incorporation, name changes, and major mergers/acquisitions).
Answer:
Company name: Pfizer Limited
Parent Company: Pfizer Inc.
Year of Foundation: 1849, 171 years ago
Headquarters: New York City, New York, U.S.
Area Served: Worldwide (Products available in over 125 countries)
Key People: Albert Bourla- CEO & Chairman (Pfizer Inc.)
S. Shridhar- CEO & Managing Director (Pfizer Limited)
Pfizer Limited is engaged in manufacturing marketing trading and export of pharmaceutical
products. The company is a subsidiary of Pfizer Inc. the world's premiere biopharmaceutical
corporation.
Pfizer Limited has a portfolio of over 150 products across 15 therapeutic areas. Its top brands
include Prevenar 13 Lyrica Eliquis Enbrel Becosules Gelusil and Corex range of products.
Pfizer Limited has the distinction of being the first pharmaceutical company in India to start
clinical research.
Pfizer is engaged in three distinct businesses,
Pfizer Biopharmaceutical Group
Upjohn
Consumer Healthcare
6 primary therapeutic areas that include,
Internal Medicine
Oncology
Hospitals
Vaccine
Inflammation
Immunology and Rare Diseases
2. Are there any recent organizational developments that may affect your company’s competitive
advantage? If so, please describe these developments.
Answer:
On September 4, 2012, the FDA approved a Pfizer pill for a rare type of leukemia. The
medicine, called Bosulif, treats chronic myelogenous leukemia (CML), a blood and bone
marrow disease that usually affects older adults
The company enjoys a unique advantage of access to Pfizer Inc's global portfolio of
therapies for introduction in the Indian market. Pfizer Limited has the distinction of being
the first pharmaceutical company in India to start clinical research
In May 2020, Pfizer began testing four different COVID-19 vaccine variations to help end
the COVID-19 pandemic and planned to expand human trials to thousands of test patients
by September 2020. Based on the results, Pfizer said they "will be able to deliver millions of
doses in the October time frame" and expects to produce hundreds of millions of doses
In July 2020, Pfizer and BioNTech announced that two of the partners' four mRNA vaccine
candidates had won fast track designation from the FDA
Company Mission:
1. Present your company’s / allotted company’s vision and mission statement.
Answer:
Mission Statement: We will become world’s most valuated company to patients, consumers,
colleagues, investors, businesses, partners, and the communities where we work and live.
Vision Statement: Pfizer will strive to achieve and sustain its leading place as the world’s
premier research-based pharmaceutical company.
Core Values:
Courage
Excellence
Equity
Joy
2. Does this vision and mission statement need to be revised in any way? If so, why? What
revisions, if any, would you recommend?
Answer: The vision and mission statements do not need any revision.
Balanced Scorecard: Customer Perspective
1. In what way(s) does the firm provide the customer with superior value?
Explain.
The organization has clear purpose- “Breakthroughs that change patient’s lives.” For
achieving this goals organization has established what it has to do and how it can be
done.
This How is represented by the four powerful values that organization follows-
Courage, Excellence, Equity and Joy. These four values define their culture.
a) Organization has leading role in promoting the clear health communication. It is working
with nationally recognized organizations and experts to develop tools and solutions to
improve communication between patients and providers. Clear health communication helps
company to better understand and act on health information. This can include following
instructions after a doctor's visit, treating a chronic illness, or taking a medication properly.
For health care providers, clear health communication guides which words are used, how
directions are given, and what materials are used to communicate with patients.
b) Company provides assistance program for patients- Pfizer RxPathways. This help to clear
the path for patients by serving as a single point of access to all of the programs that might be
right for them. Through this program company provides free Pfizer medicines to eligible
patients through their doctor’s office or at home.
Company also provides other programs like- Pfizer Savings program which helps
uninsured patients receive savings on more than 100 Pfizer medicines directly at their
pharmacy, regardless of their income.
Pfizer Institutional Patient Assistance Program which provides eligible, uninsured
patients with free Pfizer medicines through select federally qualified health centers,
disproportionate share hospitals, and free clinics throughout the country.
Treatment Specific patient support hub that provide some Pfizer medicines have
support programs designed just for their patients.
Co-pay and Savings offers that provide patients access to co-pay and savings cards to
help eligible patients save on a variety of brand-name medicines, regardless of their
income.
c) Company also provides Medicine Assistance Tool (MAT) is a web-based search engine
that connects patients, their caregivers, and their healthcare providers to more than 200
private and public financial support and assistance programs that can help eligible patients
find financial support due to their lack of insurance or inadequate prescription medicine
coverage, Rx Outreach- This nonprofit charitable organization provides eligible patients with
access to more than 800 medicines at an affordable cost, NeedyMeds- A nonprofit
information resource dedicated to helping people locate assistance programs to help them
afford their medications and other health care costs.
2. For each of the following categories, indicate whether and how well your firm
provides customer value:
a. Time: Company ensures it delivers products within time as it has strong global supply
chain. It also ensures that its product is being available for customers
b. Quality: The organization is committed to addressing unmet areas across the number of
important therapeutic areas with a goal of delivering innovative products to patients.
c. Performance and service: Company monitors and manages the services offered through
comprehensive assurance programs that includes auditing, reporting. Thus, provides
appropriate service to customer.
d. Cost: Organization decides price of its product that can be affordable to patients. It also
has assistant programs in which they involve Co-pay and saving offers to help patients.
Thus, in this way it provides products in affordable price.
Balanced Scorecard: Internal Business Perspective
1. Which core processes or systems are the most important sources of customer
value (i.e., have the greatest impact on customer satisfaction)?
There are various core processes being conducted by company to provide value to customers.
Among that processes, assistant programs for assistance of patients about the products of
company is one of the important sources of customer value as it deals directly with customer
R&D is also one of the most important process which helps company to deliver better
products to its customers. It is one of the efficient and effective source of customer value.
2. How efficient and effective are these core processes in satisfying customer
needs?
These processes provide assistance to customers while purchasing product of company.
These processes help to purchase the product, increase the healthcare knowledge of patient to
make them aware about the disease and its treatment
Pipeline involves R&D of drugs in various therapeutic areas. Until October 2020 there are 92
drugs which are at various levels of drug development, are in pipeline of the company. R&D
productivity is driven by focusing on quality rather than quantity at all stages of drug
discovery and development.
Pfizer play crucial role in top leadership. Organization had visionary & participatory style of
leadership. This type of leadership show impact on organization the form of success & getting
profit. Ian C. Read, he was the Senior Vice President of Pfizer. Mr. Ian had experience of world-
wide biopharmaceutical business. He managed to help top five global units of the company. In
that Oncology, established products, emerging market, specialty care& primary care also
included. Mr. Ian had best educational background of Chemical Engineering. Under his
leadership, the positive impact has been seen in the organization. His Visionary style of
leadership is more effective on organization growth. Under Mr. Read guidance organization get
several achievements such as
1. 30 FDA approvals
3. More than 25-30 approval through 2022 for strong pipeline work.
In 2018, Pfizer Inc. announced that Dr.Albert Bourla as Chief Operating Officer of
company. According to Pfizer, Albert is an energetic person who lead organization better
way with his extensive knowledge of industry.
During COVID-19, Pfizer ensure that organizations employees & their families become safe &
protected from during this situation. They launched COVID Care plan for employees & their
family members along with their reimbursement of Corona testing facility. At the same time
Pfizer launched Telemedicine facility to their employees & family members. so, they can
consult with healthcare professional from their home & feel comfort. Organization overall HR
team focused on Major key priorities:
1. Attracting Talent:
5. What conclusions can you draw from this financial analysis concerning your firm’s strengths and weaknesses?
Present any additional analyses that are needed to identify strengths and weaknesses.
Answer:
According to Financial Analysis of year 2018-2019, Pfizer has increased its Net Profit Margin from 18.29 to 20.61. it shows that company is
efficiently convert its sales into actual profit. Pfizer earning more profit in 2019 from their business operations.
Conclusions: