Human ResourcesTraining and Development #2 - Essay Example

Abbott Laboratories Abbott Laboratories: A Case Study Abbott Laboratories 2 The ment 'Promise for Life' best illustrates Abbott's commitment, its belief and values and what it does to deliver the promise to its customers, shareholders and all its stakeholders. Improving life by providing cost effective health care products and services is the ultimate mission of Abbott. In fact, this is the driving force for all the scientists at Abbott, who keep their efforts directed at discovering innovative medical technologies to improve health.

Abbott's business strategy lies in the diverse products it is offering by stamping its global presence in two key groups- pharmaceuticals and medical products. SWOT Analysis is an effective tool in identifying the internal strengths and weaknesses and the external opportunities and threats. It helps to develop a plan of action to concentrate on weaknesses and threats and get maximum advantage from the strengths and opportunities it has. The strengths of Abbott Labs are: its great history of innovation, its wide range of products, the great respect it commands in market ratings, and finally its expanding geographical reach opening up new opportunities.

These are certainly its strengths to build on. Its overdependence on the anti-bacterial Biaxin and the anti-epileptic Depakote is could be a major weakness for Abbott. Both these products contribute substantially to the company revenues and profits. The challenge for Abbott is to minimize the decline of sale of these two. Abbott has been doing it bests in exploring new opportunities and keeping its position of strength. The new agreements and acquisitions it has had with Knoll Pharmaceuticals, Vysis Inc, and Biocompatible will help expand its product range and its pipeline.

The company signed a Abbott Laboratories 3nice deal with AstraZeneca to co market Crestor. And everyone seems to agree that Abbott's new Xience stent is going to be huge. (Edwards, 2008)The price regulation of prescription drugs in various markets by peers and government agencies, strong competition from generic manufacturers, and the expiring patent protection are the major threats Abbott is facing. "Abbott Laboratories' 'Position of Strength' may be as strong as it looks" says Jim Edwards in his recent article on Abbott Labs.

The recent announcement about its laying off 1000 employees does not seem to indicate that all is well at Abbott. Justifying the lay off Abbott spokesperson Melissa Brotz says:We are taking this action from a position of strength to improve profitability and competitiveness moving forward, addressing excess capacity, reducing cost and improving efficiencies. (Brotz, 2008)Abbott offers training programs and resources for employees at all levels to ensure they have the skills, tools, resources and mentoring support they need to succeed.

In the face of strong competition, training gets in to greater scrutiny to deliver what it promises. It has to be more focused than before. Abbott's widening reach globally makes it imperative to train the workforce to integrate it with its values and culture for an enhanced business performance. The mounting costs and cost effective utilization of resources put training under great demand. Abbott Laboratories 4In this context, the role of senior managers in training their successors gets more importance.

The four core values that define the company: Pioneering, Achieving, Caring and Enduring must be imbibed by every employee. This will naturally include the senior managers to involve actively in the training process to help juniors imbibe these values in their work culture. It helps not only in setting clear expectations but also in preparing next generation of Abbott leaders. It goes a long way in succession planning and in accelerating the development of key talent.The timely and precise identification of training needs starts with the determination of knowledge, skill essential for maximum effectiveness in an organization's position.

(Stockard, 1997. p.33) Training needs assessment involves three components namely: strategic/ organizational analysis, task analysis and person analysis. The purpose of organizational analysis is to examine the organization, and determine its basic business strategy, objectives and goals. Task analysis explains what must be done to perform a job or complete a process successfully. Person analysis is aimed at finding out the individual capabilities in terms of knowledge, skill, attitude, motive and self concept against the requirements of successful performance of a given job role.

In the present context of increasing competition from generic manufacturers, price regulation, I strongly feel that the organizational needs assessment acquires greater importance than the other two. Because the organizational needs assessment covers all the vital things like increased competition, greater emphasis on efficiency and cost reduction, business strategies of the competitors, research and innovation and mergers, diversification and expansion. All these Abbott Laboratories 5need to be addressed to keep its present position.

Person analysis occupies the second position as it covers knowledge, skills and attitude of the employees. Once these two are clear, then task analysis can be taken into consideration. Abbott Laboratories 6ReferencesEdwards Jim (2008) http://industry.bnet.com/pharma/1000186/abbott-labs-position-of-strength-may-not-be-as-strong-as-it-looks/ Ody Elizabeth (2008)http://www.washingtonpost.com/wpdyn/content/article/2008/08/07/AR2008080701023.htmlStockard J.G (1997). Career Development and Job Training.

AMACOM, New York, pp.205