Answer To: Page | 1 HC3141_Assignment_Guidelines_T1_2020 HOLMES INSTITUTE FACULTY OF HIGHER EDUCATION...
Swati answered on May 28 2021
Index
S.No.
Topic
Page
1.
Introduction
a. Study objective
b. scope
c. Key points about Pfizer Australia Pty. Ltd.
d. Strategic Growth of Pfizer Australia
4
4
4
4
6
2
Environmental Impact
a. Impact of Micro Environment
b. Impact of Macro Environment
6
7
11
3
Competitive advantage
14
4
Porter’s generic strategies
15
5
Growth strategies
18
6
Strategic recommendation
· Functional level
· Business level
19
19
21
7
Reference
23
1. introduction
a. Study objective
Objective of this strategic company report is to apply the strategic concepts as well as to analyze Pfizer Australia Pty. Ltd.
b. Scope of report
Scope of this report covers information about strategic issues, capabilities, resource analysis giving competitive advantage to Pfizer Australia Pty. Ltd. It also covers the extent to which there is association of strategic issues with that of competitive strategy.
c. Key facts about Pfizer Australia Pty. Ltd.
Pfizer applies science and global services so as to provide therapies to people which help to extend and improve their lives in a significant manner. Pfizer strives to set various standards for safety, quality and value in development, discovery along with manufacturing health care products.
There is long healthcare and research innovation history of Pfizer in Australia and across the world.(Pfizer,2016)
Pfizer first commenced operations in Australia in 1956 with just 6 people who were a medical director, an accountant, two employees looking after sample storage handing and two secretaries. There were many diseases in 60s and 70s that had an impact on the life of Australians which are now manageable due to commitment and hard work of these 6 initial employees along with many colleagues who followed footsteps. Today, there are 1700 colleagues employed by Pfizer in various fields which includes medical, manufacturing, science, regulatory affairs, health economics, research and development, sales and marketing. The sole purpose of Pfizer works everyday is to ensure that Australians can access innovative and new medicines that are being used for treatment of most feared conditions.(Pfizer,2016)
d. Strategic Growth of Pfizer Australia
2. Environmental impacts
The word industry defined by economic theories means “group of firms producing the same principal product or close substitutes for each other”. (Johnson, 2017)
Environmental impacts on pharmaceutical industry specially at Pfizer can be studied under two broad umbrellas which are as follows-
a. Micro environment
Internal analysis of Pfizer Australia pty. Ltd. is the micro environment. The values and behaviors of courage, excellence, joy and equity are clearly declared core beliefs of Pfizer along with cultural defining features that derive achievement. These reflect the enduring character of Pfizer and its people.
SWOT analysis-
SWOT analysis is used to do situational analysis along with presenting strengths, weakness, opportunities and threats faced by Pfizer in current business environment. It is a strategic tool as well as an interactive process that needs to coordinate between several departments like finance department, Human resource, supply chain, marketing, manufacturing, research and development etc. SWOT analysis includes impact of internal as well as external forces on the organization which are as follows-
Strengths
· High skilled labor through training and development programs.
· Outstanding performance shown in new markets.
· Strong free cash flow.
· Reliable suppliers.
· Highly successful track of mergers and acquisitions.
· Strong distribution network.
· Customer satisfaction is quite high.
· Good returns on capital expenditure.
Weaknesses
· Investment in R&D is below fastest growing market players.
· Forecasting study regarding product demand is poor.
· Not highly successful at integration with varying culture at work.
· Profitability ratio and net contribution percentage are below industry average.
· Marketing of products still have several options and opportunities.
· Lack of investment in new technologies compared to other organizations in same industry.
· Product range sold by company still has gaps.
Opportunities
· Dynamic trends in customer behavior leading to opportunity to diversify products.
· Expansion as well as diversification in similarly associated field can be done using the core competencies of Pfizer.
· Economic uptick and increase in customer spending is opportunity to increase market share by increasing new customers.
· Development of own market can be done which will lead to diluting competitor’s advantage and will create a strong base along with dominating monopoly in market.
· Attracting more customers using online channel.
· Market’s low inflation rate is another opportunity to grow.
· There is an opportunity to open up to new market as per government agreement.
· Opportunity to experiment...