Pfizer Inc. is taken as case study for an innovative company in the pharmaceutical sector. Firstly, the author will look at its mission statement in relation to its key stakeholders. Secondly, the company’s overall strategy will be outlined regarding its positioning on the market as well the linkage to key theories which will be discussed and applied. The third part focuses on Pfizer’s operational issues. Finally a comparison of the strategic performance and application of theories between Microsoft and Pfizer, both, two highly innovative companies, will be made.
Pfizer, as the main case study, was chosen, because it can be defined as a highly innovative company, ranking globally the second by R&D expenditure on the DTI R&D scoreboard (see Appendix 1). However, according to the ‘Business Week’ the company ranks only on place 55 in the world’s most innovative companies, with a margin growth of 1.8% and stock returns of 9.9% between 1995 till 2005. (Business Week, 2006) This provides the evidence that Pfizer is an innovative company.
Table of Contents
- 1. Introduction
- 2. Pfizer Inc.
- 2.1 Mission Statement - Pfizer
- 2.2 Strategic Statements & Layers of Pfizer
- 2.3 Operational Dimension of Pfizer
- 3. Executive Summary
- 4. Comparison: Microsoft & Pfizer
Objectives and Key Themes
This assignment uses Pfizer Inc. as a case study to analyze an innovative company. The objectives are to examine Pfizer's mission statement in relation to its stakeholders, outline its overall strategy and market positioning, analyze its operational issues, and compare its strategic performance and theoretical application with Microsoft.
- Pfizer's mission statement and stakeholder engagement
- Pfizer's overall market strategy and theoretical frameworks
- Operational challenges and opportunities within Pfizer
- Comparative analysis of Pfizer and Microsoft's innovative strategies
- The role of R&D investment and innovation in the pharmaceutical industry
Chapter Summaries
1. Introduction: This chapter introduces Pfizer Inc. as the case study for examining innovation within a highly competitive pharmaceutical company. It highlights Pfizer's global ranking in R&D expenditure and its relatively lower ranking in terms of overall innovation, creating a paradox that the assignment aims to explore. The chapter sets the stage by outlining the key aspects of the analysis – the mission statement, strategic positioning, operational issues, and a comparative study with Microsoft. The introduction also touches upon the challenges faced by large pharmaceutical companies, such as post-patent expiry competition and the pressure to lower prices while maintaining high R&D investment.
2. Pfizer Inc.: This chapter provides a detailed overview of Pfizer Inc., starting with its history and mission statement focusing on better health and healthcare access. It describes Pfizer's global reach, employing over 100,000 people and serving millions of patients. The chapter discusses Pfizer's key products and its structure, highlighting its five divisions: Global Research & Development, Global Manufacturing, Global Pharmaceuticals, Animal Health, and Consumer Health Products. A significant portion focuses on Pfizer's substantial R&D investment, making it a leader in the US pharmaceutical industry, and the chapter details its financial data (revenues, income, expenditures) between 2002 and 2004. Finally, it notes the growth of the over-the-counter healthcare market and the importance of Pfizer's US and Japanese markets.
Keywords
Pfizer, innovation, pharmaceutical industry, R&D, market strategy, competitive advantage, mission statement, stakeholders, operational efficiency, Microsoft, comparative analysis, global healthcare market, patent expiry, drug approvals.
Pfizer Inc. Case Study: Frequently Asked Questions
What is the main focus of this case study?
This case study uses Pfizer Inc. as a real-world example to analyze an innovative company within the pharmaceutical industry. It aims to explore the relationship between Pfizer's mission statement and its actions, understand its strategic positioning and market approach, analyze its operational challenges, and compare its strategic performance with another successful company, Microsoft.
What are the key themes explored in the case study?
The key themes include Pfizer's mission statement and its engagement with stakeholders, its overall market strategy and the theoretical frameworks that can be applied to it, operational challenges and opportunities within the company, a comparative analysis of Pfizer and Microsoft's innovative strategies, and the crucial role of R&D investment and innovation within the pharmaceutical industry.
What aspects of Pfizer are analyzed in detail?
The case study delves into Pfizer's mission statement, its global structure and operations (including its five divisions: Global Research & Development, Global Manufacturing, Global Pharmaceuticals, Animal Health, and Consumer Health Products), its substantial R&D investment, its financial performance (revenues, income, expenditures) over a specific period (2002-2004), and its market positioning, particularly in the US and Japan. The analysis also considers the challenges faced by large pharmaceutical companies, such as post-patent expiry competition and pricing pressures.
How does the case study compare Pfizer to another company?
A significant part of the case study involves a comparative analysis of Pfizer and Microsoft. This comparison aims to provide insights into the different strategic approaches and innovative practices employed by these two companies, one in the pharmaceutical industry and the other in the technology sector.
What are the key takeaways or conclusions of the case study?
While the provided text doesn't explicitly state the conclusions, the analysis aims to shed light on the complexities of innovation within a large pharmaceutical company like Pfizer. It seeks to understand how Pfizer's mission, strategy, operations, and financial performance intertwine and contribute to its overall success (or challenges) in a highly competitive market. The comparison with Microsoft is intended to enrich this understanding by offering a contrasting perspective.
What chapters are included in the case study?
The case study includes an introduction, a detailed chapter on Pfizer Inc., an executive summary, and a chapter comparing Pfizer and Microsoft. Each chapter focuses on specific aspects of Pfizer's operations and strategic positioning.
What keywords best describe this case study?
Relevant keywords include Pfizer, innovation, pharmaceutical industry, R&D, market strategy, competitive advantage, mission statement, stakeholders, operational efficiency, Microsoft, comparative analysis, global healthcare market, patent expiry, and drug approvals.
- Quote paper
- Miriam Mennen (Author), 2007, Innovation & Growth - A case study of Pfizer, Munich, GRIN Verlag, https://www.grin.com/document/145364
