Pfizer’s Strategic Plan

Topics: Chief executive officer, Pfizer, Management occupations Pages: 10 (2602 words) Published: November 22, 2012
Pfizer’s Strategic Plan
David O’Teney
Phase Four IP
Colorado Technical University Online

Executive Summary
Organizational change is defined as “a planned alteration of organizational components to improve the effectiveness of the Organization” (Sage Pub, 2007). Organizational change applies to all business organizations growth and development. Change is necessary if a company falls off track from their original mission or plan. Change can re-align an organizations plan and lead them in the direction that was originally intended. This allows a company to monitor the success of their strategic plan. A strategic plan is important and change is sometimes needed to accomplish goals in this plan. The change can help the company internally and externally. During this change a company can monitor the newly changed progression giving a company the ability to adjust where necessary. It is important to continuously monitor the company’s strategic plan because changes occur regularly that can thwart the company’s plan. By watching carefully and adjusting when necessary a company will stay profitable. To become more profitable Pfizer has decided to make a big change. They are shifting their business overseas. This is a giant task but Pfizer believes they must go where the market is most profitable. The change will transfer many assets over to countries like China and Japan. This change has been implemented under new CEO Ian Read. Read is another big change for Pfizer; he has replaced Kindler and basically turned Pfizer from not doing so well to doing very well. Read is leading his team during this time of change, he is responsible for the employee’s, the company, and his own emotions during these changes. Changing people for Pfizer has been a positive change in the organization. Since Read took over there is a new excitement flowing in the workplace. The employee’s attitude towards job performance has changed significantly. They are now informed about operations at all levels, where before they were left in the dark about most things. This change with Pfizer’s’ people has produced efficient workplace procedures. The procedures and workplace environment will utilize change management in their strategic plan by staying focused on their core business. They will continue doing what is working well and use this change to manage what is not working well. Pfizer will maintain their competitive advantage over other companies through this change. Innovation from this change will be evident in the new medicines produced; these medicines will go hand and hand with the changing factors in the environment that surrounds Pfizer. Pfizer’s Strategic Plan

Pfizer’s mission focuses on making the world a healthier place by utilizing their resources to reach goals and earning respect from society through growth in their business. Pfizer’s business is centered on customer health, and to provide this health their assets are put to work. What assets are used is up to the Presidents of each business, their decisions to use what is working will help improve alignment with their mission. Management, Research and Development, Innovation, and Major Company Purchases are currently working well in the growth of Pfizer. Purchasing smaller and less profitable companies is not working well for Pfizer, with the decision to focus on core activities Pfizer will overcome what is not working well. Pfizer’s leadership has made adjustments to keep the team align with the goals of their mission. These adjustments have created strategies that are helping the company overcome challenges present in the business. The decision to slow growth and expand their core activities will enable Pfizer to overcome patent expiration challenges. New management strategies have been implemented into the company to refocus and realign their direction towards fulfilling their mission. These strategies have produced internal operational structure efficiency. These...
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