Abbott Laboratories

Topics: Abbott Laboratories, Term, North Chicago, Illinois Pages: 3 (713 words) Published: March 14, 2012
Abbott Laboratories: Team Europa
Abbott Laboratories is an American-based global, diversified (multi-division) pharmaceuticals and health care products company. It has 90,000 employees and operates in over 130 countries. The company headquarters are in Abbott Park, North Chicago, Illinois. The company was founded by Chicago physician, Dr. Wallace Calvin Abbott in 1888. In 2010, Abbott had over $35 billion in revenue. Olivier Bohuon was brought in to run the European division of Abbott labs pharmaceutical business in 2003. Formation of Team Europa

* Small but effective team (GM’s of 5 business units and few from HR & European Division) * Moved office from Chicago (near HO) to Paris to involve more. * No barriers, open discussions, fun & friendly environment in the meeting * Main problems of Abbott Europe –

* Short term thinking, no long term thinking
* Single customer focused (physicians)
* Focused internally – not understanding customers’ needs. * No innovation – react rather than proactive.
Defining the strategy
* Very first thing – they defined the strategy, then structure and the teams, system & processes, right people in the right positions & working together. * Two core things –
* Values
* Achieving
* Pioneering
* Caring
* Enduring
* Innovation
* For better understanding of these values & challenges they created a Values Champions at local level who would lead the integration of the values. These Value Champions led a series of workshops. From values to behaviours: getting personal

* Roll out values – make each employee understand what does value mean to him. How he can set personal goals in accordance with the four values. * Each individual to define their own behaviours and these behaviours would then be integrated into their personal goals. Early reactions

* Initially people thought that these team is bit crazy...
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