Medical Business Case Analysis - Term Paper Example

? Business Case Analysis Table of Contents Table of Contents 2 A. 3 B. 4 C. 6 Reference 8 A. Pfizer, which is one of the world’s most popular pharmaceutical companies, has its headquarters in New York. The America based multinational drug company manufactures medicines and vaccines which are aimed for treating a wide range of diseases. Found in the year 1849 by two cousins, the company has focused on attaining growth through a wide range of acquisition of other pharmaceutical companies located in various corners of the world. It is of relevance to state that as of now, the company is the largest pharmaceutical company in the world, when judged in terms of revenue (Business Week, 2012). Talking about the mission and vision of the company, it can be said that vision of a company represents the long terms goals, while the mission comprises of multiple short term goals. Talking on this note, it can be said that the company Pfizer’s long term goal is tremendously focused on the global well being. Talking on this note, it can be said that the vision of Pfizer is to work together for the development of a better world (Pfizer-a, 2011). Talking about the global pharmaceutical giant’s mission statement, it is very interesting to note that the company’s focus is to apply science and other global resources for the improvement of health of human life at every stage (Pfizer-b, n.d). The company also tries to focus on various key values which comprises of integrity, performance, innovation, collaboration, respect for people, care for community, leadership, focus on quality as well as customer (Pfizer-c, 2009). While analyzing the mission and vision statement, that the company has developed in regards to serving the markets of emerging as well as developed economies, it has to be said in these regards that the goals of both long and short term are highly in perfect compatibility and synchronization with the core competencies and strengths of the organization. B. It is of considerable importance to mention that the generic strategies of Porter are being designed on the framework of competitive edge as well as competitive advantage. Talking more the competitive edge achieved by the firms, it can be said that the edge factor coupled with the issues of competitive advantage leads to the process of formation of various scenarios like cost leadership, differentiation, cost focus, as well as focus on differentiation. It is of significant importance to mention that the firms needs to focus on developing their own unique kind of competitive advantage by trying to develop on one of the four scenarios, by using their strengths of business processes as well as the opportunity available in the market (Generic Strategies pdf). Talking about Pfizer, it can be said that the value chain activities of Pfizer is much diversified in nature. It is of significant importance to mention that for the purpose of generating and delivering values to the company’s stakeholders, Pfizer focuses on the process of employing and exploiting multiple key value points that are developed by the company to attain simultaneous growth and delivery of values. It is important to note, that Pfizer tries to follow more of a differentiation sort of strategy. Talking on this note, it can be said that the strategy of differentiation is often achieved by a company through the application of various business process that helps in superior service with regards to the price of the product or service of the company. It is important to mention that the company, apart from trying to gain a quality based advantage, also tries to achieve and excel in regards to technical innovation so as to increase process efficiency. This helps in a great way to communicate to the consumers about the company’s steady endeavours towards providing maximum amount of beneficial and related value (Stonehouse & et.al, 2007, p. 177). It is interesting to note that Pfizer in an attempt to achieve its differentiation strategy has focused in developing significant amount of edge in regards to innovation as well as technological developments. It is important to note that Pfizer, in the recent times is significantly trying to reinvent its value offerings to the consumers through active participation in various kinds of research and development process (Thomas, 2012). It can be said that since Pfizer is a pharmaceutical company, it is obviously highly relevant for the company to focus on the product development innovation so as to better the prospects of value delivery to the consumers. C. Henry Mintzberg tried to design a family of strategies that is supposed to help businesses around the world develop significant edge in their business process with regards to competition existing in the market. It is important to mention that the family of strategies is categorized in to five groups like locating the core business, distinguishing the core business, elaborating the core business, extending and finally reconceiving the core business. While discussing Pfizer in connection to the family of strategies that is being designed by Mintzberg, it can be said that the company’s core business interest is in the domain of pharmaceutical sector. Talking more about Pfizer’s efforts to develop distinction in its core business, the company’s multi focused endeavours has to be taken into account. Talking more on this note, it can be said that Pfizer is trying to develop the open platform as well as the connected healthcare business models for developing and augmenting its strengths in the pharmaceutical sector (Marwaha and Savas, 2012). Pfizer in an effort to elaborate its businesses has significantly focused on the process of operating in two diverse segments. The company while retaining its core competence has focused on operating in the biopharmaceutical as well as diversified segments. It is of high relevance to mention that the company for the purpose of extending its pharmaceutical based business has entered in to new areas like pharmacy care, established products, specialty care, consumer health products, animal health products etc (Forbes, 2013). Pfizer has also made significant efforts to reconceive its core business focus by the process of forming a chain of colleague resource groups (CRGs) worldwide (Love, 2010). It has to be stated that the resource groups significantly tries to promote inclusive culture in the business and thereby increase the value proposition for the pharmaceutical business of Pfizer. Reference Business Week. (2012). Pfizer moves higher amid persistent breakup talk. Retrieved from: http://www.businessweek.com/ap/2012-03/D9TP13I80.htm Stonehouse, G. & et.al. (2007) Global and Transnational Business: Strategy and Management. John Wiley & Sons. Thomas, K. (2012). Pfizer Races to Reinvent Itself. Retrieved from: http://www.nytimes.com/2012/05/02/business/pfizer-profit-declines-19-after-loss-of-lipitor-patent.html?_r=0 Pfizer-a. (2011). Value and Mission Statements. Retrieved from: http://www.pfizer.com.pk/InnerPageView.aspx?q=9&m=212 Pfizer-b. (n.d). Mission Statement & Values. Retrieved from: http://www.pfizer.ie/mission_statement_and_values.cfm Pfizer-c. (2009) Values. Retrieved from: http://www.pfizerindia.com/enewswebsite/values.aspx Marwaha, S. and Savas, S. (2012) Navigating a changing health care environment: An interview with Pfizer’s Kristin Peck. Retrieved from: https://www.mckinseyquarterly.com/Navigating_a_changing_health_care_environment_3001 Fobes.com. (2013). Pfizer. Retrieved from: http://www.forbes.com/companies/pfizer/ Love, A. (2010) Diversity as a Strategic Advantage. Retrieved from: http://www.businessweek.com/managing/content/may2010/ca20100513_748402.htm#p2 Read More