Preview

Pfizer’s Strategic Plan

Best Essays
Open Document
Open Document
2602 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Pfizer’s Strategic Plan
Pfizer’s Strategic Plan
David O’Teney
Phase Four IP
5/6/2012
Colorado Technical University Online

Executive Summary
Organizational change is defined as “a planned alteration of organizational components to improve the effectiveness of the Organization” (Sage Pub, 2007). Organizational change applies to all business organizations growth and development. Change is necessary if a company falls off track from their original mission or plan. Change can re-align an organizations plan and lead them in the direction that was originally intended. This allows a company to monitor the success of their strategic plan.
A strategic plan is important and change is sometimes needed to accomplish goals in this plan. The change can help the company internally and externally. During this change a company can monitor the newly changed progression giving a company the ability to adjust where necessary. It is important to continuously monitor the company’s strategic plan because changes occur regularly that can thwart the company’s plan. By watching carefully and adjusting when necessary a company will stay profitable.
To become more profitable Pfizer has decided to make a big change. They are shifting their business overseas. This is a giant task but Pfizer believes they must go where the market is most profitable. The change will transfer many assets over to countries like China and Japan. This change has been implemented under new CEO Ian Read. Read is another big change for Pfizer; he has replaced Kindler and basically turned Pfizer from not doing so well to doing very well. Read is leading his team during this time of change, he is responsible for the employee’s, the company, and his own emotions during these changes.
Changing people for Pfizer has been a positive change in the organization. Since Read took over there is a new excitement flowing in the workplace. The employee’s attitude towards job performance has changed significantly. They are now informed about


References: David. F, (2009). Current mission statement emphasis: be ethical and go global. Retrieved from http://findarticles.com/p/articles/mi_m1TOK/is_2_9/ai_n56427494/ Pfizer, (2012) Robbins, C. (2012). Management (1st ed.). Retrieved from Colorado Technical University Online, Virtual Campus, MGM255-1202A-05: https://campus.ctuonline. Sage Pub, (2012). Organizational Change in Our Complex World. Retrieved from www.sagepub.com/upm-data/15367_Chapter_1.pdf Y Charts, (May, 2012). Pfizer Asset Utilization. Retrieved from http://ycharts.com/ companies/PFE/asset_utilization ADDENDUM
Continue Reading
View Writing Issues

You May Also Find These Documents Helpful

  • Powerful Essays

    HCS/504 Introduction to Graduate Studyin Health Sciences/Nursing
    • 910 Words
    • 4 Pages

    HCS/504 Introduction to Graduate Studyin Health Sciences/Nursing

    Concord Bookshop is a private owned business located in Boston, Massachusetts. Concord Bookshop has been the pride of the town for years. According to history, Concord Bookshop is regarded as one the best in New England. In any organization, change is inevitable. Change is a way of life both in organization, in families; the birth of a child, going to college whether is undergraduate or graduate school. Change could happen at any time. Here I am going to focus on organizational change. What then is organizational change? My definition of organizational changes is simply the changing of the way in which the business is organized. Every organization has a culture put together. Along the line, this culture may have to be revisited if the organization will grow and be successful. According to (Rampur, 2009), organizational change is a very common concept found among successful companies.…

    • 910 Words
    • 4 Pages
    Powerful Essays
    Read More
  • Good Essays

    Concord Bookshop Paper
    • 800 Words
    • 4 Pages

    Concord Bookshop Paper

    Organizational change has many concepts from wide changes to small changes that can affect a company. Introducing a new person into the company, changing mission statement, restructuring, and even adding stock options are examples of organizational changes. According to Spector it is important to understand, analyze the dynamic of change, and requirements of effective change implementation. Successful changes requires management to explore many drivers of change. Strategic responsiveness occurs when external factors affects the company for example, government regulation, new competition, and economic changes. In response to these events an organizational change is necessary to create and maintain customer service and performance. Strategic renewal requires a change in plan to gain an competitive edge. To be effective management needs to be part of the change process. The leaders need to change its business practices and resources. A new business model is necessary to for the company to generate profit and survive. They could even start a new business model, which is called" Greenfield." (Spector 2010) Starting a new business from scratch is easier with new employees instead of the "challenge of nurturing a new business model within an existing model." (Spector 2010) To accomplish the goals of the new business model the change agent need to retrain employees in new skills and competencies.…

    • 800 Words
    • 4 Pages
    Good Essays
    Read More
  • Powerful Essays

    Green Eggs and Ham with Organizational Change
    • 1126 Words
    • 5 Pages

    Green Eggs and Ham with Organizational Change

    There are many types of change, the first one could be described as ‘tuning’ this is where an organization needs to streamline processes and cut spending costs making the organization more efficient and pro-active. Another type of change is called ‘reorientation’; this involves planning ahead and making the changes needed for future strengths by using past strengths and history as your guide. “Adaptation: this is a reactive mode where the business climate has changed without being anticipated. And finally “re-creation” also a reactive type of change but requires the business to totally reinvent itself. (Ian Palmer, 2009)…

    • 1126 Words
    • 5 Pages
    Powerful Essays
    Read More
  • Good Essays

    What are the key arguments for and against managing resistance to change?
    • 702 Words
    • 3 Pages

    What are the key arguments for and against managing resistance to change?

    The phrase ‘change management’ has been defined as “the process of continually renewing an organization’s direction, structure, and capabilities to serve the ever-changing needs of external and internal customers” (Todnem, 2005, p. 369 cited Moran and Brightman, 2001, p. 111). Generally, organizational change can be initiated by managers or come into existence through external pressure or implemented as a result of specific changes in policy and procedures. In brief, organizational change is an effort made by management to have members of the organization to think, behave and perform in a different way (Yılmaz and Kılıçoğlu, 2013 cited Kreitner and Kinicki, 2010).…

    • 702 Words
    • 3 Pages
    Good Essays
    Read More
  • Good Essays

    Merck
    • 1053 Words
    • 5 Pages

    Merck

    Merck has a strong sense of ethics within the company 's credo and morals and also reflects on its employees. In spite of having major financial crisis, its motto never changed or got altered. It increased the finding to the research institutions in Africa and places. It made sure that the motto of the George W. Merck, former Chairman and son of the founder of Merck was always above any hurdles that Merck as a company would face. Merck also appears to have an Ethics office that hires consultants to "gather internal data and external benchmarking."…

    • 1053 Words
    • 5 Pages
    Good Essays
    Read More
  • Good Essays

    Innovation in the Insulin´S Industry
    • 1248 Words
    • 5 Pages

    Innovation in the Insulin´S Industry

    Analysis To gain an understanding and find some possible explanations, we will analyze the situation from different points a view. Be big and arrogant Big companies have great advantages like economies of scale, well managed infrastructure, brand equity and substantial market share, but some only try to defend their market share, focusing only on processes and product creation instead of listening to customers (Christensen, 1999). For example, Eli Lilly had almost the 80% of the US insulin market and did not want to introduce new products like the insulin pens because potential cannibalization´s risks (Christensen, 2004). By the other hand, the managers of Pfizer thought they had a product that was going to revolutionize the market. But, after their failure, they blamed the drug´s launching, the marketing campaign and the sales strategy. For them the product was excellent (Simons, 2007), that is, the problem was outside the company.…

    • 1248 Words
    • 5 Pages
    Good Essays
    Read More
  • Best Essays

    Organizational Systems and Structures Evaluation
    • 1630 Words
    • 6 Pages

    Organizational Systems and Structures Evaluation

    Desmidt, S., Prinzie, A., & Decramer, A. (2011). Looking for the value of mission statements:…

    • 1630 Words
    • 6 Pages
    Best Essays
    Read More
  • Powerful Essays

    Factors that drive organizational change
    • 1012 Words
    • 4 Pages

    Factors that drive organizational change

    Organizational change is defined as change that has an impact on the way work is performed and has a significant effect on staff. (The Vector study, 2012). Organizational change can be major like a reorganization or a much smaller change such as new computer software. Changes can include structure within the organization, working practices that include hours and schedules, role changes, and the environment within which work is done. Whether change is viewed as large or small it can affect production, employee satisfaction, and profits.…

    • 1012 Words
    • 4 Pages
    Powerful Essays
    Read More
  • Best Essays

    Impact of Lipitor Patent Expiry on Pfizer.
    • 4183 Words
    • 17 Pages

    Impact of Lipitor Patent Expiry on Pfizer.

    This report is about the impact of patent termination of Lipitor on Pfizer pharmaceutical company. Lipitor has been in the market since 1997 and is the mother of all drugs. (wsj_live, 2011) As of November 30th 2011 Pfizer lost the patent of Lipitor opening path to generic competitors for America’s most popular medication and now all generic producing companies will be able get hold of the patent and produce their own stock legally. Pfizer was the first to earn 11$ billion in a year selling Lipitor and 130 $ billion over the patent’s life Lipitor is responsible for the one sixth sales of Pfizer. Due to the patent expiration of the drug Lipitor now other generic producing companies will be able to produce the drug and sell it at much lower rate than Lipitor which is a branded drug. Lipitor is a blockbuster drug of Pfizer which is responsible for making a huge profit and has kept the company at the no1 position. Until now Pfizer was the sole producer and enjoyed the monopoly of the drug. As Lipitor goes generic the rates of the drug are falling down massively so as to keep the current users of the drug to continue it. Pfizer is putting up a fight with all generic producing companies and as it is the best marketing pharmaceutical company in the world it is using strategies to keep the sales up and to make the consumers keep using Lipitor even after the expiration.…

    • 4183 Words
    • 17 Pages
    Best Essays
    Read More
  • Good Essays

    Pfizer Overview
    • 550 Words
    • 3 Pages

    Pfizer Overview

    The vision of Pfizer is much the same as their mission to be able to help and cure the world of illnesses that affect so many such as: areas of oncology, cardiovascular disease and diabetes. Pfizer is a publicly traded on the following stock markets: New York Stock Exchange (PFE), London, (PFZ), Euronext, Swiss and is a very much for profit corporation. It was originally founded in 1849 and has more than 85,000 colleagues in more than 150 countries according to their website. Their corporate headquarters is located in, New York, NY; their biggest Research and Development facility is located in: Groton and New London, Connecticut some others include: Sandwich, England, St. Louis, Missouri, Cambridge, Massachusetts. La Jolla and South San Francisco, California.…

    • 550 Words
    • 3 Pages
    Good Essays
    Read More
  • Best Essays

    Pfizer Competitor Analysis
    • 3793 Words
    • 16 Pages

    Pfizer Competitor Analysis

    Loftus, P. (2012 30-Nov). Pfizer to Shrink US Sales Force, Cites 'Future Needs ' of Business. Wall Street Journal Online .…

    • 3793 Words
    • 16 Pages
    Best Essays
    Read More
  • Powerful Essays

    Organizational Structure in the Pharmaceuticals Industry
    • 1217 Words
    • 5 Pages

    Organizational Structure in the Pharmaceuticals Industry

    References: Besthof, Robert. (2009). Pfizer Makes Push in Ophthalmic Market With Restructuring, R&D Strategy. Ocular Surgery News. Retrieved October 13, 2010, from: http://www.osnsupersite.com/view.aspx?rid=42818…

    • 1217 Words
    • 5 Pages
    Powerful Essays
    Read More
  • Good Essays

    Hrm 310 Reasons For Change Research Paper
    • 821 Words
    • 4 Pages

    Hrm 310 Reasons For Change Research Paper

    Organizational change is defined as examining and adjusting the business structure and operations of an organization. In an attempt to maintain a competitive edge,…

    • 821 Words
    • 4 Pages
    Good Essays
    Read More
  • Better Essays

    Opportunities for Traditional Drug Companies
    • 1145 Words
    • 5 Pages

    Opportunities for Traditional Drug Companies

    Further, both companies failed to understand their stakeholders or "lead clients". In fact, they barely reached out to them at all, it seems, in attempting to validate their market. As Bruce Frank asserted “In retrospect the market was not all that dissatisfied with highly purified pork insulin” (Eli Lilly and Company: Innovation in Diabetes Care, 2004). Similarly, Pfizer failed to reach out in a meaningful way to…

    • 1145 Words
    • 5 Pages
    Better Essays
    Read More
  • Powerful Essays

    Pfizer Case Study
    • 1500 Words
    • 6 Pages

    Pfizer Case Study

    Pfizer is the world’s largest research-based pharmaceuticals firm and also a well known Pharmaceutical company. So their most of the work depends on research, developing Strategies and innovate. They were trying to find a new way of system which makes their Work more effective and efficient. Pfizer find out that their worker spends more time on Business research and data analysis to the creation of documents and other routine Support like Goggling and making power points and also spending so much time on Menial tasks rather than knowledge work. The average Pfizer employee was spending 20 Percent to 40 percent of his or her time on supporting work (creating documents, typing Notes, doing research, manipulating data, scheduling meetings) and only 60 percent to 80 Percent on knowledge work (strategy, innovation, networking, collaborating, critical Thinking. That’s why Pfizer starting to find a solution of this problem to increase their Efficiency and effectiveness. Pfizer build a new kind of structure by using Microsoft Outlook where their connecting to a outsourcing company where Pfizer can connect with Different worker by email where they can connect with any worker around world and get Cost specification for their requested work. By using this process the time spent on Analysis of data has been reduce, also have many financial benefits and employees also get rid of their boring work.…

    • 1500 Words
    • 6 Pages
    Powerful Essays
    Read More

Related Topics