Summary of Problems, Opportunities, Solutions
|Solution Identified |
[Where more than
one solution is
identified, list them
in order of priority]
|1. Failure to develop extensive globalized strategies for cooperation.||1. Reconsidering the company’s strategy to create a new perspective that allows a company to learn, research, and develop.|
|2. Limited capabilities to address cultural diversity issues.||2. Although the company adheres to a cultural diversity policy, it fails to address similar issues while creating alliances with other company. In order to improve the situation, the company should introduce new co-development opportunities for allies as well. Under these circumstances, it is possible to establish new forms of outsourcing.|
|3. Insufficient evaluation of business strategies, leading to unsuccessful alliances.||3. Focusing on legal standards is essential for sustaining long-termed relationships.|
|4. Failure to evaluate the global commercialization of ally’s readiness to enter the international market.||4. The organization should pay attention to funding innovation and security assurance for their customers. Hence, the company should thoroughly consider the advantages and disadvantages before establishing cooperation with other pharmaceutical organizations.|
|5. Limited penetration to biologics market and excess focus on the partnership itself.||5. In order to promote greater performance at the international market, Pfizer should focus on the quality rather quantity of partnerships. Such a strategy could significantly advance its further successful cooperation in pharmaceutical development.|
|6. Insufficient growth in the treatment area, as well as low level of activity in such fields as CV and CNS. Such a situation does not contribute to good performance.||6. Excess focus on research and development of new pharmaceutical products prevents the company from enhancing the quality of services they could provide to patients. In order to improve the situation, Pfizer should continue aggressive alliance strategies that can promote significant cost savings. In particular, the organization should develop cooperation at the level of deep information exchange. A goal-oriented approach to establishing international relationships is beneficial for the company.|
Development of strategic alliance is premised on a great number of conditions, but the companies work out sophisticated step to adhere to those because collaborations are efficient for diffusing new technology, and overcoming governmental restrictions. What more important, such large organizations as Pfizer must adopt the strategies because of the necessity to advance the research and development process through international cooperation. Despite the fact that the organization has created numerous partnerships, many of them fail because of irrelevant approaches to establishing fruitful business relationship. According to Silico Reseach (n. d.), over thousand alliances have been created since 2005. At this point, the most serious obstacle preventing Pfizer from prosperous existence involves inability of company’s managers to predict the future strategic activities of their partners and, as a result, other issues, such as budgeting, time management, and quality issues, come to the forth as well.
The above presented problems can be solved through reconsidering such concepts as vision, mission, and quality of cooperating with new partners. In particular, Pfizer’s manager should focus on quality rather than quantity of created alliances. In addition, they should also consider the main goals and outcomes before their conclude agreements and development international relationships. Further actions should be directed at expanding innovation opportunities, which promotes greater understanding of company’s goals. Funding the most profitable alliance is also beneficial because it allows to reduce funding on the project that do not contribute to organizational learning and development. In fact, the partnership should seek to widen the organization’s possibility to constantly learn, research, and develop. Finally, developing partnership should be focused on expanding new market segments and introducing new client base.
Due to the fact that 95 % of expenditures have been invested into scientific community and patient literature, Pfizer should also focus on various types of alliances to encourage diverse cooperation (Korieth, 2012). There is a growing tendency in developing integrated alliances, but the focus on these partnerships requires creating sophisticated relationships. Sponsoring is another dimension that is introduced to the field of international cooperation. It contributes to promoting higher rating in traditional producer-buyer relationships. At this point, adopting outsourcing strategies and implementing them collaboratively can significantly improve internal organizational process and prepare team projects for entering new types of relationships. The emphasis should be placed on execution rather on the actual outsourcing process because quality is much more beneficial in these terms. Choosing integrated alliances requires the stakeholders to work in cooperation and be able to make decisions. Flexibility and autonomy are vital components of establishing international alliances (Mehta, 2012). Hence, collaboration and communication should be premised on efficient theoretical frameworks, which allow companies to develop new relationships in a timely manner.
In conclusion, as soon as the company recognizes its pitfalls and benefits, the organization can think over new strategic alliances, as well as avoid the project that will not bring in positive changes to organizational culture and learning. This is of particular concern to funding, innovation, and increase in quality of concluded agreements. Finally, the emphasis placed on quality of cooperation between other organizations is more beneficial than developing alliance with poorly organized goals.
Korieth, K (2011). Integrated CRO Alliance Growing but Poorly Executive. RxTrials. Web.
Mehta, D. (2012). Why Biocon’s Deal with Pfizer failed? The Economic Times. Web.
Silico Reseach (n. d.) Pfizer. Web.