Key Strategies of Pfizer Inc.

Pfizer Inc.

Introduction

Standing firmly as one of the world’s pharmaceutical corporations founded in the mid-18th century, specifically 1846, Pfizer Inc as an American pharmaceutical company has strived to rank amongst the best pharmaceutical companies in the world and as a result, expanding its territory and tentacles across all major regions in the entire universe. In its entirety, the goal of Pfizer Inc is to harmonize all resources both natural and artificial to create value for a healthier and safer world, and in the course of achieving this goal, simultaneously create a sustainable and long-term investment value for its stockholders. Pfizer Inc is committed to increasing access to drugs and healthcare in a scope that helps the company’s standing to remain firm in people’s minds and thereby strategically becoming a household brand across all nations of the world. Over the years since its inception, Pfizer Inc has continued to partner with private and public agencies, governments, professionals, institutions, foundations as well as any entity regarded by the company to be the best fit for its pursuit of expanding access to medicine and health-related products and services. The desire to continue to serve the world despite any challenges posed by this act is pivotal to the company as an entity, as a result, the corporation has continued to expand exponentially across all spheres of human endeavor. However, it is imperative to note that the company’s continuous expansion is sparked by the use of its key strategies which basis for this article. Thus, in the succeeding section of this piece, you would be shown these key strategies, how the company has been utilizing them as well as how these strategies are responding and adding value to the organization as a whole. 

Approach 

Pfizer Inc has systems in place that is in sync with all the business segments as well as divisions and facilities under its management. The system operates in a very strict condition and is characterized by only one single goal and aim – expanding access to medicine, and improving the healthcare line through innovation and biotechnology. The core approach of the corporation which double serves as its purpose is to be dedicated completely to the pursuit of breaking new ground and discovering new ideas, scopes, resources, and mechanisms, which all, in turn, conjoin to change patient’s lives, thus, making the world a healthier planet to live in. One of the keys to the success of Pfizer Inc is leveraging its resources, both human capital as well as other relevant assets to do more for patients and improve life and society at large. Additionally, it also leverages its global tentacles to distinguish and makes a difference in local regions and communities all around the world.

Key Strategies of Pfizer Inc 

Following the core major segment of this article and as briefly mentioned in the introductory section of this piece; Pfizer Inc leverages certain key strategies to help become more improved in its approach, hence, expanding rapidly. In this section, you would be shown these key strategies and how they relate to the company’s development and overall achievement. 

Pfizer Inc’s key strategies include:  

Inclusion and Diversity: Having the subconsciousness as a corporation that everyone regardless of their age, sex, culture, background, economic status, or any other basis used in segregation – has something positive to offer the company The company’s policy embraces and emphasizes diversity and inclusion and to a great degree recognizes it as a pivotal factor used in developing and sustaining a successful firm. The company’s philosophy is not only tied to recruiting the best talent for itself but by extension helps create a seamless and free workplace and platform where everyone can express their talents, voice their opinion, and can be heard. This strategy, however, pointed to the fact that the company runs a bottom-up management system.   

Environmental Health & Safety Governance: Best known for its acronym as (EHS) Pfizer Inc combines environmental health as well as safety into every line of its business operation. To this end, the company ensures that its compliance and risk management units are controlled and managed by top officials of the firm. In a bid to be more practical with this strategy, the company organized products and foundations such as the audit program as well as the EHS foundation to help remain stable in implementing this strategy. Additionally, the company is able to leverage its an organizational culture that emphasizes inclusion and diversity to help create and develop ideas from every member of the company across all its business segments for the growth of its EHS Governance. 

Corporate Ethics and Compliance: 

Pfizer Inc’s control and compliance strategy act as one of the key drivers of the company’s growth and operational efficiency. The strategy is a shared value across all the business segments of the company and it helps the company. While ethics represents the company’s values and norms that help the business in achieving its goals and objectives, compliance on the other hand sees to it that these ethics are implemented and expressed by every member of the firm, in which both (ethics and compliance) handshake to breed corporate brilliancy and efficiency.   

Environmental Health & Safety Supply Chain: 

Another factor responsible for the overall growth of Pfizer Inc is its uninterrupted chain of supply technology. Pfizer Inc builds a supply network chain that helps deliver and distributes its manufactured drugs and medicines and vaccines across all national borders and regions and territories. This supply chain network supports the company’s overall effort by ensuring all manufactured drugs get to their needed destinations, thereby, sustaining the company’s commitment o making the world a better and healthier place to thrive. 

Facility Investment: 

Pfizer Inc’s research and development units play a great role in the implementation of this strategy. The company in its entirety, consistently invest in innovation, research, as well as facilities, and tools that would aid the production and manufacturing of cutting-edge medicines as well as quality drugs that would help change people’s life positively and provide a healthier environment.  

Global Impact: 

Pfizer Inc partners with global institutions across the world to help make available drugs that are affordable to all needing patience. In addition to the implementation of this strategy, also help provide donations when needed to ensure its products are accessible to all. It uses a blended approach by harmonizing its business and philanthropic approaches to aid the access of its manufactured drugs, vaccines as well as medicines to individuals who are in need of them the most. Bodies and entities supporting the implementation of this strategy include but are not limited to Rxpathways, Trachoma Initiative, The Gavi Alliance, Innovation in Medicine Delivery, Charitable Contribution, The Pfizer Foundation, Global Health Fellows, et cetera. 

Committed to Health & Safety: 

Pfizer Inc is committed to ensuring all its operational and overall business segment portrays the company’s value which is to manufacture and produce highly effective, quality and safe drugs that helps in the total recovery of patients’ health and safety. To this end, Pfizer Inc uses its best workers who are highly experienced in the production and manufacturing segments of its enterprise. Additionally, the company also uses several programs such as an occupational injury prevention programs to aid staff productivity.  

Acknowledging the Human Rights: 

With its corporate value emphasizing ethics, diversity, and inclusion, Pfizer Inc places its business operations on a verge where all human rights are strictly acknowledged and respected from region to region, state to state – across all national borders. Pfizer Inc integrates this strategy into its policy and as a result, all its business operations act in accordance with the laws that vales and respect human rights. 

Constantly Improving its Intellectual Property: 

With a view supported by the desire to continue be a leading pharmaceutical company in terms of cutting-edge breakthroughs and innovation, Pfizer Inc affirms its a commitment by staying through and standing firm to making its contribution to the pharmaceutical world remains a global reference in terms of innovation as well as development and improvement. To this end, Pfizer Inc inculcates the IP PACT (Intellectual Property Principles for Advancing Cures and Therapies) practice to help remain committed to meeting the needs of its patients across the world. 

Conclusion 

Strategies are like vehicles that help propel an organization into achieving its aim and objectives. Without strong and viable strategy, the ability of a company to achieve its goals and objectives may be relatively difficult, if not impossible. As you have been shown extensively in this piece, the key strategies of Pfizer Inc revolve around the 10 aforementioned strategies which include, Environmental Health & Safety Governance, Corporate Ethics, and Compliance. Inclusion and Diversity, Environmental Health & Safety Supply Chain, Facility Investment, Commitment to Health & Safety, Acknowledging Human Rights, and lastly, Constantly Improving its Intellectual Property. That said being, I hope you are able to understand how important and crucial these key strategies are to Pfizer Inc throughout this article, and that the success of every company is tied to how efficient they are able to utilize and leverage their strategies.