Student number: 10391669
Word count: 940
I hereby certify that this project is entirely of my own work and has not been taken from the work of others save to the extent that such work has been cited and acknowledged within the text of the project.
Alkermes’ human resource (HR) strategy is all about acquiring employees who show personal initiative and who get satisfaction of knowing that they are helping to make a difference in the lives of millions of people every day. Alkermes ultimate goals are to develop medicines that address unmet patient needs, to help its customer’s live happier, healthier lives. The Athlone facility of Elan must choose a strategy that supports the corporate objectives of Alkermes. They must align and prioritise the various activities of the strategy to accomplish their objectives. HR strategies need to simultaneously focus on building skills, motivation and behaviour for a successful business strategy. In my opinion the generic HR strategy most appropriate to align with Alkermes corporate strategy, is the resource-based view (RBV) model. The RBV model works towards identifying the firm’s potential key resources and developing and manipulating them to build a value-creating strategy. When Alkermes decided to merge with Elan one of their main reasons for doing so was that they could use Elan’s most valuable resource, the Elan drug technologies (EDT) unit. The EDT develops proprietary drug technologies that can be applied to a number of products, improving the effectiveness of the drugs. With Alkermes now having obtained a technological resource with a rarity that will help them gain a competitive advantage over their rivals, they must now focus on their human resources. They look to acquire talented employees who show initiative and feel good about improving people’s health. Combing and developing these resources will help them build a strong RBV model. When Alkermes...