Principles Of Management
Program / Intake: BCom22 Module: Principles of Management Assignment Number: NA Lecturer: Mr Dipan K Mehta Student ID: 32367669 Program Manager: Hazel Ong
Table Of Content
2.0 SWOT Analysis
3.0 Four Functions Of Management
Pfizer is a multi-national pharmaceutical corporation that develops and produces medications for various types of medical conditions. Founded in 1849 by a pair of cousins, Charles Pfizer and Charles Erhart, Pfizer Corporation started of as a fine chemicals manufacturer. It then discovered an antibiotic about a year after it’s founding and have worked towards becoming a research-based pharmaceutical company. Today, Pfizer Corporation has become one of the leading and largest research-based pharmaceutical-manufacturing corporations in the world.
Headquartered in New York, NY, USA, Pfizer Corporation has expanded the company throughout the world including Europe, America and also Asia. Despite having many obstacles throughout the years of expanding throughout the world, Pfizer Corporation managed to stay on as one of the top in the pharmaceutical industry. 2.0 SWOT Analysis
The SWOT Analysis is a tool used by various companies to distinguish and identify the company’s internal strengths and weaknesses as well as external factors including opportunities and threats that the company is facing or will face in the near future. It is crucial for a company to know the internal and external environment that is affecting or will affect the company in order to be successful in current and future strategic planning. With the information gathered to determine the internal and external factors that will be affecting them, the company will be able to strategize well and move forward in becoming one of the best in the industry.
SWOT Analysis of Pfizer
It have been reported that Pfizer Corporation is one of the most highly innovative company ranking in the charts of the DTI R&D scoreboard and also in “Business Week” in year 2006. Being in a pharmaceutical industry it is vital for a company like Pfizer to be active in research and development in order to continuously stay in the market and keep up being in the healthcare sector as there are many new diseases discovered everyday and many more new drugs to be developed everyday. Pfizer Corporation is recognized globally, having ventured out in the world market and through strategic partnerships and acquisitions of diversified businesses such as Wyeth, another pharmaceutical corporation. With a high number of employees from all over the world in the company might just increase the chances of higher sales and new developments which develops a strong Research and Development(R&D) team and sales team in return results in a higher revenue. Pfizer Corporation has a handful of high selling products currently in the market, including Viagra, an erectile dysfunction therapy, Celebrex, a pain management drug, Zoloft, an antidepressant and a cholesterol lowering medication, Lipitor. 2.2 Weaknesses
However, higher revenue results in higher R&D expenditures. Being a highly innovative company, Pfizer Corporation invested a substantial amount of money in to discover and market new drugs. These discoveries often...
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