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Transcript of Pfizer: Reputation
GE went from being an "Evil" company to a leader in innovation
1. They have content that is focused
2. They give this content to the leadership team and they bring it to the public
3. They focus on the future - Innovation
4. They found their purpose and capitalized on it - They turned their purpose into value
5. They successfully demonstrate company impact on consumers
Lets look at examples
"What my mom does at GE"
"GE Stories: Healthcare"
So what did GE do right?
In order to be a lead innovator, we need to lead by example. What are we doing to innovate? What CAN we do to innovate?
The only way for a company to survive and thrive today is if it has the ability to reinvent itself.
Investing in Education is a key way to impact reputation. The narrative?
"As a leader in Innovation, Pfizer strives to not only innovate new medicines, but also make societal innovation a priority. We are investing in the children of today, because they are the leaders of tomorrow. Our children are our future, so why wouldn't we advance their education?
Why is this so powerful?
If Pfizer wants to say they are a lead innovator, they have to show that they are. By investing in education, it shows the public that not only are we interested in right now, but that we are also focusing on the future.
Its a key Idea because it reaches two huge target markets.
Parents can appreciate a company that is helping to educate their children
It also shows that Pfizer is planning for the future of our kids.
Need more convincing?
Education isn't only for children. It also includes the young adults (much like myself) in the millennial generation who are about to break into the world.
Why should we care?
There is an opportunity to be bold and lead.
Pfizer, a leading Biopharmaceutical company, can create programs in higher education that cultivates and enriches students through STEM education.
Let's stop taking about opportunity, and instead,
What are other companies doing in Education?
"Innovation" has become a huge buzz word and it has lost its meaning. Pfizer needs to take innovation and OWN IT. How can Pfizer make innovation stand out?
Lets own sustainable innovation and bring it to life
So what does "Sustainable Innovation" even mean?
Sustainable means to maintain or to uphold something.
Thus, Sustainable Innovation is the act of upholding a culture of innovative thinking, and innovative results. Not only in the short term, but also the long term.
Its a great concept because it is an emergent property. The Idea of sustainable Innovation not only can be used in regards to Pharmaceuticals, but also to education (more on this later), and society as a whole.
How can we build stronger connections with the people who come in contact with Pfizer?
Pfizer's focus is not just the medicines it creates, its about the people who use them"
The consumer has the power to determine whether a company is good or bad. With the rise of social media, the consumer now determines a companies reputation.
The people have a say.
How can we use the peoples voice to our advantage?
"Pfizer is not only passionate about creating a sustainable and innovative culture within the company, but also in society."
A company that cares about the people. From the employees to the patients it helps.
J&J has continued to change their associations. Previously known as the "soft & Fuzzy" company, they are now establishing themselves and a company who cares. A company who is there for its consumers.
In addition to that, they have started their initiative to bring awareness to nurses.
"Campaign for Nursing's Future - Pediatric Nurses"
"Campaign For Nursing' Future - Emergency Room Nurses"
Pfizer has already done something like this...
Starbucks College Achievement Plan
More Than Medication
"You are who you associate with"
Pfizer needs to evaluate it current partnerships and determine how we can work together to a common goal
"We have a workforce of over 100,000 young people in America. 70% of the employees don't have a college degree. We have paired with an innovative public school. Starbucks is an innovative company. We said, let's do something disruptive, let's do something historic. Lets break the rules"
Service Value - User Experience
In order to humanize, Pfizer needs to take interest in the people who use the products. Highlight the pipeline by showing how these medicines impact the people who use them.
Millenials & Generation Z
As we have seen, Starbucks has already discovered the value of investing in the children and young adults of today.
Pfizer NEEDS to do this. It is imperative that we realize that the young adults and the children of today are our future. If we really want to impact our reputation, we should create initiatives that will give these young kids opportunities.
"To Err is Human"
Instead of hiding our failures, we should capitalize on them. We learn the most from our mistakes, and the same goes for companies.
We make mistakes, we learn to innovate better. This allows us to make better medicines and help more people.
Domino's is a great example!
Domino's turned their failure into a good thing. They publicized it in order to show the public what they are doing to fix it.
This demonstrates accountability and responsibility for their actions. They admitted they were wrong; and now they are doing everything they can to fix it. This earns respect from society and builds trust.
Who are we as a company, and what do we want to stand for?
If we can answer this question, we can build the brand and the reputation around that. But first, we need the big idea. The one liner.
What can we learn from Domino's?
OWNing our failures
Using our failures to motivate Pfizer to do better
Leverage the "More than Medication" campaign
How can we bring OWN IT culture externally?
How can we Live Boldly?
So who is a lead innovator?
At Pfizer Canada, we want to help Canadians live healthier, more balanced lives - because we believe that to be truly healthy, it takes More Than Medication®. We collaborate with health care professionals and patient organizations, with a view to providing you credible information to inspire and motivate you to make healthier choices.
Its a fantastic campaign because it is above the brand. It goes beyond what we do as a company, and recognizes that hope and social support are extremely powerful things when it comes to illness.