Pfizer, a pharmaceutical company, has been in business since the 1800's and went global before going global was a common strategy. The decisions made by the management of Pfizer, Inc and the organizational strategies employed throughout the years have had to adapt to the ever changing concept of what it means to be a global company and what management must do to meet the goal of making a profit and corporate expansion.
Pfizer's domestic core competency has been the innovation of new pharmaceutical products and the domestic strategy has been one of differentiation. The domestic industry is that of pharmaceutical products. The international market is very competitive, in particularly the research and development of new pharmaceutical products. There is an increase in pressure to be responsive to the needs of the industry, but also to reduction of costs; which brings in the strategy of transnational.
According to the Pfizer web page, in 1997 Fortune magazine named Pfizer the world's most admired pharmaceutical company. In 1999, Pfizer celebrated its 150th anniversary as one of the world's premier pharmaceutical companies and was recognized for its success in discovering and developing innovative drugs for human discovery. Forbes magazine named Pfizer Company of the Year when Pfizer's investment in research and development exceeded four billion for the first time.
In a 2004 EMBO report, Consulting Resources Corporation (CRC) suggested that moving R&D operations offshore might reduce the putative cost of developing a new drug in the USA from the current cost of between seven million dollars to one billion dollars down to two hundred and fifty million dollars. The change in international intellectual property laws, the growth of the Internet, lower-cost telecommunications, and large educated English speaking populations are further enabling the offshore move. Singapore had a two billion dollar initiative in 2000,...