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The Availability of Technology of the Bayer AG With a Strong Market - Research Paper Example

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The paper describes the Pharmaceutical and Chemical industry that is researched with reference to Bayer AG, which is the major player since 125years in chemicals and pharmaceutical manufacturing industry. It “operates in 4 major sectors which are Healthcare, Agriculture, Polymers and Chemicals”…
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The Availability of Technology of the Bayer AG With a Strong Market
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 Signatures By signing this document I am declaring that this assignment is my own original work. It represents my own ideas and words in creating original answers or written assignments. If permitted as part of the assignment, the intellectual property of others (e.g. information from journals, books, websites, etc.) has been properly cited. I have not taken unfair advantage over my fellow students. I have not given or received unauthorized assistance and have not fraudulently represented information in this assignme I. Introduction In this section, provide information regarding the industry you are researching. What are the product(s) and/or service(s)? Who are the competitors? The Pharmaceutical and Chemical industry is researched with reference to Bayer AG, which is the major player since 125years in chemicals and pharmaceutical manufacturing industry. It “operates in 4 major sectors which are Healthcare, Agriculture, Polymers and Chemicals” (2002). It offers services in the fields of animal health, pharmaceuticals, diagnostics, biotechnology, agrochemicals, plastics and polymers, consumer care, basic and fine chemicals, coatings and colorants, fibres and many more fields in which its products or raw materials can be used. It has innumerable products and its raw materials are also used in many and almost all of the products worldwide in a range of fields. In the US, “its product ‘Cipro’ is popular as the anti-biotic for Anthrax, which was the deadliest threat during the September 2001 attacks. In healthcare, apart from Cipro, Aspirin Protect and Avelox are also very popular pharmaceutical products in US and Germany. In UK, Adalat Trasylol for Cardiovascular treatment, anti-septic Ciproxin, Glucobay for metabolic, Nimotop for Neuro and DTIC-DOME for Oncology are some of the popular products. In consumer care, along with Aspirin, Alka-Seltzer, One-A-Day, Antan, Baygon and Canesten are its products. While Baytril, Bayticol, Bolfo flea collars, Tiguvon and Droncit with marker vaccines for cattle and pigs are the products in the animal health sector, ADVIA systems for a range of laboratory systems, Clinitek devices for urine analysis, Glucometer for blood sugar monitoring, N-Neostix, Rapidpoint or Rapidlab product for blood gas and critical care analysis and VERSANT for measuring HIV-1 and Hepatitis B and C viruses are among the diagnostic products. Further, the biological products are the therapeutic products, most of which are derived from human plasma” (Bayer AG, 2002). The agro-products from Bayer are available for all kinds of agrochemical, seeds and biotechnology activities. These are the very popular “fungicides like Folicur®, Horizon®, Elite®, and Raxil® under the Tebuconazole Trademark, Bayfidan® and Baytan® with the trademark Triadimenol, Antracol® by Propineb, Bitertanol’s Baycor® and Sibutol®, Spiroxamine Trademark’s Impulse® and Prosper®, include Win®, Arcado®, Protega®, Solazas®, Seed-one®, Zabara®, Prowang® with Carpropamid Trademark, Euparen® with Dichlofluanid’s Trademark, Pencycuron Trademarked Monceren® Fenhexamid, Iprovalicarb’s Melody®, Positron®, Invento®, while Triadimenol Trademark includes Bayfidan® and Baytan®, Trifloxystrobin Tradenames include Flint®, Stratego®, Compass®, Twist® and Tolylfluanid Trademark’s products like Euparen® Multi, Euparen® M, Jinete®” (Bayer AG, 2002) . Herbicides from Bayer include – “Fentrazamide Trademarks’ INNOVA®, Lecspro®, Dongsimae®, Bai Tian Jing®, Power by FOE - Flufenacet Trademarks’ Artist®, Aspect®, Axiom®, Bastille®, Cadou®, Diplome®, Domain®, Drago®, Epic®, Herold®, Plateen® ,Terano® and Tiara®, Artist®, Axiom®, Domain®, Epic®, Herold® and Terano® under Flufenacet Trademark, Everest, Vulcano® from Flucarbazone - sodium, Metamitron’s Goltix®, Metribuzin’s Sencor®, Sencoral®, and Sencorex®, Mefenacet Trademarks’ Hinochloa®, Rancho®, Zark®, Wolf ACe® products and Attribut®, Olympus® with Propoxycarbazone - sodium Trademark” (Bayer AG, 2002) . Further, the insecticide products from Bayer include “Gaucho®, Admire®, Confidor®, and Provado® from Imidacloprid Trademark, Tamaron® and Monitor® with the Trademark Methamidophos, Beta-Cyfluthrin & Cyfluthrin Trademarks’ Bulldock®, Enduro®, Baythroid®, Tempo®, E 605®, Folidol®, and Bladan® with the Parathions Trademark. Other products include Metasystox® with the Trademark Oxydemeton - methyl, Methiocarb Trademarks’ Mesurol® flowable, Mesurol® slug pellets and Provada® garden spray, Azinphos - methyl Trademarks’ Gusathion® M, Guthion®. Further, Curaterr® is the product from Carbofuran Trademark, while Lebaycid ® is the product from Fenthion Trademark, Nemacur® with the Fenamiphos, Calypso® with Thiacloprid and Disyston® of the Disulfoton Trademark” (Bayer AG, 2002) . Bayer’s core activities in the chemicals field include precursors for Pharma, plastics and electronic components, crop protection agents, bio-degradable substances for detergents and cleaning products, etc that are from the Basic and Fine chemicals services. Also speciality products like dyes, chemicals and other products for a range of industrial applications are available from Bayer. Among the polymer products polyurethanes is the raw material that Bayer holds the technical leadership and is the market leader. It also offers a range of services for the paper, leather, textile, agricultural, water-treatment, resins, high grade biocides along with pharma, plastics, solid and foam, coloring and coating agents, etc. industries and their applications in addition to the Basic and Fine chemicals, Speciality products and Polymers. Its competitors in the late Nineties have been companies like Monsanto, Astra-Zeneca, Novartis, Aventis, Du-Pont, Dow and BASF but Bayer has been far from the competition in that it was the major like Goliath. Present day Bayer has many joint ventures with almost all these companies who were posing a competition. II. Company Background (Pick a Company, e.g., NCB) In this section, briefly summarize the company. Who were its founders, when was it started? What were its primary products offered? What are its current products and/or services? Where is it located? Does it have any satellite locations? This company has been a major force in the late nineteenth century and continues to be a major player in almost all the sectors across the world. It had played a major role in the two World Wars, particularly during the Nazi government. Since its establishment in 1863 as a Dye manufacturing factory in Germany to the present day disintegrated Bayer AG, it has come a long way in almost all the fields and also has a prominent history with a crime history also associated with it since the war days. It is found to be aggressively pursuing the four major and controversial industry sectors of health, pharma, agriculture and chemicals which are considered to be the by-products of Capitalism. With headquarters in Leverkusen, Germany this company operates through out the world with satellite locations in Europe, North America and the Far East. III. Issue Statement What is the current state of affairs that the company is experiencing? Are there any concerns that must be addressed? What keeps the CEO “Awake at night?” The medicines that enjoy success and are a source of major revenue are often targeted by counterfeiters and are faked. As they have a sizeable market share, the original are replaced by the faked products in the market and fraudsters make a business. Mostly the medicines bought online are susceptible for fraud. This is the major concern for Bayer for its antibiotics and other valued medicines of the company are counterfeited creating legal and ethical issues to the company. The company is aggressively focussing on the much prevalent malice of counterfeit drugs in the developing nations, which it feels is creating much of the loss to the company as its image is being compromise due to lack of action. In December in its official website, it has issued a warning to consumers asking them to be ‘beware of counterfeits’ in its publication online and has also tried to reiterate its commitment to ensure high quality products thereby ensuring safety and its no compromise stance towards (2008). IV. External Environment Analysis In this section, summarize the current situation of the external environment by addressing each section. The external environment of the company can be analyzed by the analysis of the threats due to external factors like the economy, legal conditions, the political factors that influence the business adversely or give an opportunity, the socio-cultural aspects that determine the consumer behavior which directly effects the profitability of the business, the technological differentiation, the lack of which can lead to a loss of advantage to the competitor, the demographic threat and the threats and opportunities due to the global market conditions. These are discussed in the following sections. A. Economic Threats and Opportunities Threats – Tax increases can be a burden, increasing interest rates, slow growth of the market, price cuts due to increased competition, escalating costs and economical slowdown can all be threats for Bayer in the first quarter of 2009. Also, the stock market fluctuations can pose a major threat to the company. Opportunities – Due to sound financial position, the company will be able to leverage by new investment opportunities along with entering a new markets. Further, the industry growth can lead to an opportunity when the economic conditions improve. The costs can be cut by reduction in interest rates. B. Political Threats and Opportunities Threats – The customers and suppliers can play a key role in determining the price of the products which can be a threat to the company in the immediate future. Opportunities – Joint ventures, grants and allowances from the government can give Bayer an opportunity to maximise profits. Also, changes in the industry as a whole can be observed and taken as an opportunity for gaining differentiation. C. Legal Threats and Opportunities Threats – Major structural changes in the industry and the imposing of financial regulations pose a threat to the company. Opportunities – Bayer’s decisions like acquiring or entering new markets could be an opportunity. D. Sociocultural Threats and Opportunities Threats – Increased awareness and availability of other trusted brand products along with the change in spending by the consumers in these times of recession can be a major deciding factor for the future of Bayer’s leadership position in the industry. Opportunities – Early tracking of changes in consumer behavior and availability of highly skilled staff at all times with excellent business strategy and staff training and commitment can be a good opportunity to retain its position while beating competition and move forward. E. Technological Threats and Opportunities Threats – Failure to keep with technological changes ahead of the competitor can seriously push the company behind its competitors. Opportunities – Keeping with the changing technology, increased online presence and diversification can bring more future opportunities instead of trailing behind. F. Demographic Threats and Opportunities Threat – Change in demographics could threaten Bayer. G. Global Threats and Opportunities Threats – increase in the number of players, products from competitors, players operating in the same industry locally leading to lesser demand for the company’s products and other similar products in the market pose a serious threat to it. Opportunities – “Diversifying markets, increasing exports along with increasing customer base and line of products and services can result in higher sales and also help consolidate market position time and again” (PRLog, 2007).. H. External Environment Summary Summarize the external environment. The external environment is analyzed using the threats and opportunities faced by the company. It is observed that the company can leverage the benefits of technology, its financial position and its leadership in the market to create opportunities for further strengthening of its business. Also, it can take advantage of the economic downturn to study the consumer behavior and make strategic changes to its policies to provide higher quality at lower rates to beat competition and win more customer base globally. V. Industry Analysis (You must find an industry review in Valueline, or another highly respected source) What is going on in this industry? Include a graphic depiction of Porter’s Five Forces Model and briefly discuss the following sections. Fig: Porter’s 5 Force Analysis of Competitive Advantage (Wilson, 2000). A. Threat of Buyers Who are the buyers and do they pose a threat or opportunity? The buyers for Bayer’s healthcare products are basically the near-end patients and account to a major sustainable market. As other companies are actively penetrating this basic market with varied and trusted products, there is a potential risk to Bayer in losing its market monopoly to many and thus be reduced to a minor player at a very fast rate. Its vulnerability to numerous counterfeit attempts is a major reason to worry about. Also, though it has a brand identity, it needs to improve the quality and hence gain more buyer loyalty in the immediate future. It is observed that the bargaining power of the buyer is at a high as there are a number of other players in the market offering similar products with high quality. B. Threat of Suppliers Who are the suppliers and do they pose a threat or opportunity? Since it has a good marketing and distribution strategy along with skilled work force with satellite offices in Europe and America and distribution channels across the world in every corner, it can be observed that the supplier power is medium and is subject to fluctuations based on extreme changes in economic conditions. However the company needs to improve the quality of its yield by choosing to buy high quality raw materials from the suppliers. C. Substitute Products Are there any substitutes and do they pose a threat or opportunity? There are many substitute products to Bayer’s many healthcare products and also offer substantial advantage in quality and simplicity. This poses an increased threat by substitutes and will be a major concern in the future too. D. Barriers to Entry Are there any barriers to entry and if so, what are they? Is this an opportunity or threat? Though the company is the largest and most popular in healthcare and other sectors owing to its experience, strategy of marketing and distribution, innovation and technology, it has not been successful in reducing the threat to entry by other players partly owing to its mergers and joint ventures with the now competitors in most of the products. E. Rivalry Describe the level and intensity of competition (center box of Porter’s 5 forces). In the healthcare sector, the intensity of rivalry is quite high with Bayer, BASF SE, Johnson & Johnson and Wyeth all in to the same products an each competing to throw the other in a bid to take the king’s share of the market. Their range of products in anti- biotics and dietary supplements are just the tip of the ice-berg. F. Industry Environment Summary Briefly identify the key points of the industry from the Five Forces perspective. The healthcare industry an particularly the pharmaceuticals industry is dominated by Bayer, with competition from three other companies which are BASF SE, Johnson & Johnson and Wyeth. All the four companies have their differentiation factors and also plan to improve by adapting the other key factors as well. It is to be noted that from Porter’s Five Forces perspective, the threat to new entrants in the market is low, the degree of rivalry among the existing players is quite high, the bargaining power of the buyer has increased form low to a high, the supplier power is medium and the threat of substitutes is high. VI. Competitor Analysis (Key competitors only. List 3) Who are the competitors based on strategic group. How do you define this group? There are three competitors to Bayer in the healthcare and pharmaceutical sector. They are BASF SE, Johnson & Johnson and Wyeth which are competing with Bayer AG to take a major market share by employing slightly different strategies ranging from operational efficiency to extensive research, marketing and distribution to merging with other companies who have the resources and strategy to move fast. A. BASF SE Briefly discuss this competitor from its strategy, assumptions about its capabilities and core competencies, and its plans for the future. This company is the second largest in the healthcare industry and has “sales of $85,356.5 for its chemical segment which is almost twice that of Bayer AG. It is fast growing in its market share by entering many fields through mergers and acquisitions. It has the capability of gaining a strong hold in the healthcare and chemical industry and become the largest in these sectors. This company is focussing on increasing the operational efficiency and plans to increase the market share thereby. In the chemical segment, it is followed by Bayer AG, Dow Chemical and TOTAL” (BASF SE, 2009). B. Johnson & Johnson Briefly discuss this competitor from its strategy, assumptions about its capabilities and core competencies, and its plans for the future. Johnson & Johnson has an advantage in its product range in pharmaceuticals wherein it has “extensive research capability and its leadership in marketing, distribution and clinical testing and hence has a high product value. Its industry growth in pharmaceutical, healthcare and consumer products is expected to grow at 7% in 2009. It had an annual sale of $61,095 in 2007” (Johnson & Johnson, 2009). C. Wyeth Briefly discuss this competitor from its strategy, assumptions about its capabilities and core competencies, and its plans for the future. This is the third major competitor for Bayer AG in healthcare and pharmaceuticals with an “annual sales of $22,399.8 in 2007. its is being acquired by Pfizer at $68 billion” (Wyeth, 2009). Hence through mergers, Wyeth is planning to leverage its strength in the segment. VII. Internal Analysis What are the internal strengths and weaknesses of the company? Bayer can consider its leadership in the core segments of healthcare, agriculture, chemicals and polymers as its strength and continue its position. Independent ventures and cutting on the dependence on alliances would do better for it as it can establish as the numero uno in the particular businesses. Since its financial position is better and it can afford to invest in times of recession too in innovation and human resources, it can do better by bringing out new products on its own and which are of high quality, cheaper and more easily accessible. Excellent strategies for marketing and distribution are required for the company to along with leveraging its world class human resource to retain its position. Since it enjoys a good reputation overall, it can make use of this to enhance its image in the consumer as well as the economic world. A. Core Competencies What are its core competencies? Define if they are valuable, rare, nonsubstitutable or costly to imitate. Are they strengths or weaknesses? Strengths – Bayer’s core competencies in the four major industry sectors of healthcare, agriculture, chemicals and polymers makes it the strongest in the field. Its constant churning of products and online presence also gives it an advantage over other competitors. Being the oldest and a giant with numerous products in almost all sectors, it enjoys a high market share which raises it far above other players. Weaknesses – However its partnership and alliances for some of the products makes it vulnerable of losing to competition. B. Financial Resource Assessment Identify the company’s cash position, bond rating, stock performance the past year, and degree of leverage of your company. What does your analysis tell you? Strengths – Competitive pricing, lower costs and innovation are the financial aspects contributing to its strengths. Weaknesses – Competition in reducing prices by the competitors should be responded to by the company and make their pricing competitive which may result in compromising on the profits, and hence there is a need to maintain a stable financial position in spite of the competition. C. Human Resource Assessment What are the strengths and/or weaknesses of the company’s management, Board, employees, and technical staff? Are human resources critical to this company (think of creating a sustainable competitive advantage)? Strengths – Most of the employees at the top management at Bayer who hold key positions have extensive experience. This could contribute to the strength of the company as their experience across the various sectors over many years working towards a common goal. Weakness – Still a lack of more number of HR staff and a lack of proper training about the principles and policies to the staff for efficient customer support can pose problems to the company’s prospects. D. Reputation What is the company’s image with consumers? Is it innovative? If so, where and what are the latest inventions/innovations? Strengths – Bayer has a good reputation in the market with a wide range of products and services. It also has a high turnover. Being the market leader, it has a high customer base which can be tapped to increase its value further by offering higher quality. Its commitment to various standards gives it an advantage. Further, as they enjoy market dominance, they can penetrate the market deeper and also introduce new products. Weakness – Since there are numerous warnings and concerns over the quality claims, its reputation can be at stake. E. Physical Resources (only major important ones!) Leave blank if not applicable. Describe the plant, property and equipment. What other assets does the company own? What inventory does it hold? Is it at an appropriate level? Strengths – high quality equipment is the company’s strength and can result in quality work. Weakness – Machinery and equipment is the property of multiple companies if they are under partnership terms and cannot be counted as individual assets. F. Functional Strengths and Weaknesses (Make a “SWOT Analysis” Grid – Tic-Tac-Toe) What functional strengths and weaknesses are there? Cover management, information technology, marketing, sales, R&D, production, service, finance, and any others that apply. Identify their strengths and weaknesses. Strengths – Efficient marketing strategy, distribution chain and effective alliances gives the company the strength to corner a major customer base. This can lead to increased operations and further increase in customer base. Also, increased online presence generates more business and results in efficient customer care which can build its good reputation. Weakness – Problems of stock accumulation and distribution and declining customer base due to competitors using advanced technologies can be a weakness in business for Bayer. G. Internal Analysis Summary Summarize the internal environment of the organization. The strength of the company’s core competencies can be enhanced by utilizing its financial strength, its positive reputation among the consumers, its highly skilled workforce, increased online presence and the high quality equipment to manufacture high quality products within a shorter time and gain more market monopoly by moving ahead of the competitors who are not so sound financially, nor have much reputation or have emerged as the leaders in the core sectors. VIII. Strategic Mission What products, services and markets will the company serve? What products, services and markets SHOULD the company serve in the future? In the official website of the company, the chairman Werner Wenning lays out its mission for the future. He reveals it’s “plans to re-align the company strategically into three major sectors which are Bayer Healthcare, Bayer CropScience and Bayer Material Science with an aim to bring innovative services that benefit people and enriches their quality of life. In healthcare, the company intends to form alliances and form an extensive network of external partners with bio-technology companies to increase the research activity and create opportunities in this market which is quite untouched as yet. Also, it has plans to focus on the near-patient or the core market group by increasing their skills and become a world leader. In the CropScience market where it already has an edge, it plans to use bio-technology to its advantage and improve quality and products thus becoming the leader. The third market segment, the material science business where the company already holds the top position in the supply of raw materials, it has plans to leverage engineering plastics as a market in Asia, particularly China” (BAYER, 2004). IX. Sustainability Agenda What is the corporation doing in the area of sustainability? How does it affect its performance? How does it affect its strategies? Compare your company to its competitors who are NOT involved in sustainability. What do you discover? In its official website (2007), one can find its “first Performance Report in the wake of the increased importance for sustainability reporting. This report indicates its objectives and performance for the year. This report is ensured to be in accordance with the World Business Council for Sustainable Development (WBCSD), the Greenhouse Gas Protocol and the European Chemical Industry Council (CEFIC) which provide recommendations and guidelines for the report”. It stresses on its awareness of its “responsibility as a corporate citizen and its commitment to equal responsibility to the economy, ecology and social commitment objectives” (Bayer CropScience, 2008). X. Strategic Recommendation What do you recommend the company should do to address its weaknesses and to capitalize on its opportunities? Identify the strategies that it should pursue, prioritize your recommendations, and explain why. The company can leverage the reputation in the market, its advantage in terms of technological know-how, financial capability, and availability of skilled staff along with the vast range of products to address the increasing competition by faster and high quality innovation in its core market segments if needed by acquisitions or mergers as far as possible to keep competition to the minimum. XI. Stakeholder Analysis What impact will your recommendation(s) have on the various stakeholder groups? The recommendations would hold good for the company in achieving its market leadership and retaining the existing customer base and further increasing and expanding into newer segments and geographic areas. As there should be an improvement in the quality of the services and products, it should benefit all the stakeholders, the customers with enhanced quality, the society in general with the much compliance to standards and responsibility and the staff and management of the company by way of business consolidation and business improvement. XII. Summary and Conclusion What have you discovered about this company? What have you learned as a result of this assignment? It is observed that Bayer AG has a strong market presence of over 125years and has almost monopoly in key sectors which are its core competencies. The availability of technology, finance, strategy and the skilled staff all make it an undisputed leader which can continue into the future and make a positive impact on the society through its enhanced commitment to ‘Responsible Care’ (Bayer, 2009) which is a positive growth since its days of uprising during World War I and II, the crimes of which had haunted the company till recently. References – 1. 2002, “ Bayer AG – A corporate profile”, March 2002, Accessed February 28, 2009 < http://archive.corporatewatch.org/profiles/bayer/bayer1.html>. 2. 2002, “ Bayer AG – A corporate profile”, March 2002, Accessed February 28, 2009 < http://archive.corporatewatch.org/profiles/bayer/bayer2.html>. 3. 2008, “Beware of Counterfeits”, December 11, 2008, Bayer plc, Accessed on Febraury 28, 2009 http://www.bayer.co.uk/scripts/pages/en/about_us_standard/beware_of_counterfeits/index.php. 4. 2007, “Performance Report- Consistent management and monitoring of sustainable development: Our performance and objectives”, December 4, 2008, Bayer AG, Accessed on March 1, 2009 < http://www.bayer.com/en/performance-report.aspx>. 5. 2008, “ SUSTAINABILITY AND COMMITMENT”, November 6, 2008, Bayer cropScience, accessed on March 01, 2009 http://www.bayercropscience.com/BCSWeb/CropProtection.nsf/id/EN_Sustainability_Commitment>. 6. 2004, “FUTURE-GOALS-STRTEGY-VALUES: THE MISSION STATEMETN OF THE BAYER GROUP”, July 2004, accessed Feb 28, 2009 < http://www.bayer.com/en/mission-statement.aspx>. 7. 2007, “Bayer AG Company Profile (OTC Healthcare) - STRATEGIC EVALUATION”, Jun 15, 2007, PRLog Press Release, Accessed on Febraury 28, 2009 < http://www.prlog.org/10020311-bayer-ag-company-profile-otc-healthcare.html>. 8. Wilson, Jack M., 2000, “eBusiness: The Hope, the Hype, the Power, the Pain”, accessed on March 02, 2009 < http://www.jackmwilson.com/eBusiness/eBusinessBook/Strategies.htm>. 9. 2009, “BASF SE”, Hoover’s, Inc., Accessed on March 2, 2009 < http://www.hoovers.com/company-information/--ID__41755--/free-co-factsheet.xhtml>. 10. 2009, “Johnson & Johnson”, Hoover’s, Inc., Accessed on March 2, 2009 < http://www.hoovers.com/johnson-&-johnson/--ID__10824,FRIC__--/free-co-competition.xhtml>. 11. 2009, “Wyeth”, Hoover’s, Inc., Accessed on March 2, 2009 < http://www.hoovers.com/wyeth/--ID__10093--/free-co-profile.xhtml>. 12. 2009, “Responsible Care – Bayer Group Position”, January 16, 2009, Bayer AG, Accessed on February 28, 2009 . Read More
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