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Organizational Behavior Final Presentation: Pfizer

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Kiley Ogden

on 4 May 2011

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Transcript of Organizational Behavior Final Presentation: Pfizer

Organizational Background •Founded by Charles Pfizer and Charles Erhart in 1849 (cousins) in Brooklyn, NY Gained success with the discovery of fermentation through creation of citric acid from sugar, which fueled the first major widespread production and distribution of penicillin Throughout World War II, Pfizer was the lead penicillin supplier to the United States armed forces 1951, Pfizer expanded internationally into Belgium, Brazil, Canada, Cuba, England, Mexico, Panama, and Puerto Rico. Pfizer Today Corporate Headquarters: New York City global pharmaceutical company ranked #1 in sales globally. 2002: The Pfizer For Living Share Card Program is introduced: provides those with low-income Medicare with access to a 30-day supply of ANY prescription medication for $15 per prescription January 2009: Pfizer acquires pharmaceutical giant & top competitor Wyeth, for $68 billion Current CEO: Ian Read 2009 Revenues: exceeded
$50 Billion most popular products:
Celebrex First international appearance: World War II
By the 1950s, in 12 countries
Increase in emerging markets revenue (Fastest growing part of the company)
International market is tough to crack Potential Risks: Currency fluctuations
Capital regulation
Government-imposed constraints Diversity "Our diversity and inclusion aspiration at Pfizer is straightforward: We will be an industry leader and one of the Top 10 global corporations in Diversity and Inclusion." Supplier & Employee Diversity Supplier Diversity Program:
supports minority-owned business enterprises (MBEs), women-owned business enterprises (WBEs), and small businesses.
June 2010: Pfizer has been recognized as a Best Diversity Company by the readers of Diversity/Careers in the 2010 Readers Choice Survey. Additional Diversity Accolades: May 2010: Pfizer Animal Health (PAH) was recently cited for excellence in diversity and inclusion by the Association of Diversity Councils 2009 Best Places to Work GLBT — Human Rights Campaign (HRC) (100 percent in the 2009 Corporate Equality Index (CEI))

2009 Readers Choice: Best Diversity Companies — Diversity / Careers in Engineering & Information Technology

2009 A Best Diversity Company — Diversity / Careers

Bronze Award Disability Standard Benchmark 2009 (Pfizer UK) Organizational CULTURE “Our culture is unique and our commitment to people is without peer. Our customers enjoy the greatest rewards of our efforts by having access to products that improve their health and well-being. Our employees also benefit from our commitment by embracing an environment that is open, diverse and truly supportive." http://www.pfizer.com/careers/working_for_pfizer/index.jsp Artifacts: values Pfizer views diversity in their workforce as a topic that brings more to the table in terms of the different businesses that they’re in and the different products that are delivered Many employees enjoy their job with Pfizer because of the benefits with helping everyday people while being able to access cutting edge technology at a company that is known for being the best in research They offer superior prescription drug benefits with the Pharmacy Card Program; which provides 100% coverage for prescription drugs (both Pfizer and non-Pfizer drugs) Being the number one drug company, Pfizer seeks to maintain a healthy environment for its employees; everything from on-line healthy risk assessments to an around-the-clock nurse hotline. values in
action Ethics Pfizer's Statement of
Ethics Unethical Marketing: Bextra, 2009 Pfizer was sued for a record $2.3 billion for illegal promotion of off-label uses and dosages that were not FDA approved. Knowingly placed health of patients at risk. Additional Ethical Problems: price fixing
unethical promotion
corporate structure
defective heart valves
Nigeria: experimental antibiotic
groundwater pollution: CT

currently operating in 45 countries Globalization not the first of these types of suits against the company, but the most publicized & significant in its impacts Additional Issues Impacting
Pfizer's Performance Patent Expirations
Cut-Throat Generic Competition
Innovation Failure
Involvement in Declining Markets of the Pharmaceutical Field
Groupthink +Marketing Success= Failure Recommended Responses: Adopting an ethical cost-cutting strategy
Innovate & place larger emphasis on research and diversity to develop a new "blockbuster drug"
Acquisitions and co-development opportunities
Expansion into more profitable fields such as biologics, oncology, and infectious disease
Place a stronger emphasis on sustainability and corporate responsibility tactics
Responsibility Global Health Programs Community Programs malaria efforts
Infectious Disease Institute Local Citizenship:
Amigos en Salud
Balance it Out Pfizer Education Initiative "Pfizer is on a green journey, embracing a sustainable tomorrow. We're developing a more integrated and strategic approach to Environmental, Health and Safety (EHS) practices and programs, using our substantial global reach to effect improvements in the areas of climate change, product stewardship and access to potable water. " Protecting the Environment SWOT Analysis Strong sales and marketing infrastructure
Brand recognition
Recent product blockbusters (Lyrica, Chantix)
High customer dedication
Strong Corporate Responsibility Efforts
High Diversity STRENGTHS WEAKNESSES OPPORTUNITIES THREATS Overreliance on certain franchises
Long drought in blockbusters
Limited involvement in biologics market Restructuring strategy to cut costs
Cash in the blank
Acquisitions and co-development opportunities
Expansion into biologics Generic competition
Further M&A could hurt profitability Damaged Reputation due to legislations & litigations
Unethical marketing practices
Profit-driven culture Sources Cited: Castner, Morgan, Joanna Hayes, and Michael Shankle. "Global Value Chains: Major Firms." Global Pharmaceutical Industry 15 Apr 2007: n. pag. Web. 3 May 2011. <http://www.duke.edu/web/soc142/team2/firms.html>.

Tobin, Tisha. "Effects of Globalization on Pfizer Inc.." Associated Content 20 Mar 2010: n. pag. Web. 3 May 2011. <http://www.associatedcontent.com/article/2802432/effects_of_globalization_on_pfizer.html?cat=55> "Careers; Working For Pfizer." Pfizer. Pfizer Inc., n.d. Web. 3 May 2011.

"Pfizer Inc. News." Vault; Career Intelligence. Vault, n.d.. Web. 3 May 2011.

"A to-do list for Pfizer's Kindler." CNNMoney.. A Time Warner Company, August 2, 2006. Web.
<http://money.cnn.com/2006/08/02/news/companies/kindler/index.htm>. Prakash, Snigdha. "Pfizer Problems Emblematic of Industry Obstacles : NPR." NPR : National Public Radio : News & Analysis, World, US, Music & Arts : NPR. 5 Dec. 2006. Web. 01 May 2011. <http://www.npr.org/templates/story/story.php?storyId=6580343>. "Faced With Generics Threat, Pfizer Makes Drastic Cutbacks | Business | Deutsche Welle | 25.01.2007." Home | Deutsche Welle. 25 Jan. 2007. Web. 01 May 2011. <http://www.dw-world.de/dw/article/0,,2324928,00.html>.
Lowe, Derek. "Why Pfizer?. In the Pipeline:." In the Pipeline:. 6 Jan. 2009. Web. 01 May 2011. <http://pipeline.corante.com/archives/2009/01/06/why_pfizer.php>.
Mital, Tushar. "Pfizer." KnowTheCo. 17 Jan. 2009. Web. 01 May 2011. <http://www.knowtheco.com/index.php?news=23>.
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