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Thermo Fisher maintains dominant position in the market. The company have highly skilled workforce that is attained via training and learning programs. The company invests a large share in development and training of its employees that result in highly motivated workforce. Thermo Fisher has good track record of the innovation of the new products (Fern Fort University 2022). The company has the strong base of the reliable suppliers of the raw materials. The company has strong dealer community, strong brand portfolio, high level of satisfaction of the customer and others.
Thermo Fisher are improving life for patients that protect the climate of the world and keeping the people safe. Customers are asking for innovative solutions that will improve their life. Services and products of the company are sold under the brands of Thermo Fisher. It will enable the customers to push the science and technology a step beyond (Thermofisher 2022a). Total revenue of the Thermo Fisher has increased from $6.55 billion in Q1 2020 to $10.81 billion in Q1 2021 that marks the 65.04% growth in yearly basis.
The business level strategy of the company is to enable the customers to make the world healthier, safer and cleaner. The company will deliver services and products to the customers that will help them to manage their goals along with reduction of the environmental impact. The products and services that are provided to the customers will help them to manage greatest challenges like curing diseases, protection of the environment, and keeping the public safe. The business strategy of the company will help the Thermo Fisher Scientific to achieve the goal of the company (Thermofisher 2022b). The company focuses on increased efficiency and optimizing the resources via usage of the Practical Process Improvement Business System and invests in the technologies and products that lead to reduction of the energy. The business level strategy of the company assists the company to achieve perfect score in the Disability Equality Index and Corporate Equality Index in 2018. They achieved the Women’s choice award as the best company for the women. The company makes investment to improve the accessibility of STEM education.
The corporate level strategy of Thermo Fisher Scientific is reflecting the commitment of the company to humanity. The company must be committed to the stakeholders, social, environmental and governance issues. The Corporate Social responsibility approach issued by the company that is aligned with the model of business, values and strategies (Thermofisher 2022a).
Thermo Fisher is one of the major firms in the Medical Laboratories and Research. The company is listed in the New York stock exchange and it has a market cap 68.37B USD. The advantage of the company in the industry is innovation of the new products and services, building capacities and spending money on research and development and others (Investing 2022). The company has efficient chain of supply with various suppliers, experimenting with the design of the products.
SWOT analysis is the process that will assist the company to regulate its status in the industry. The strengths of Thermo Fisher are expected advantages of the company that is related to acquisition of Dionex and Phadia and others. The other strengths of the company are introduction of Orbitrap Mass Spectrometry Platform that will assist in increasing the sales and revenue, over 39000 trained employees, strong financial position. The weakness of the company is increased dependence on pharmaceutical, restricted brand recall (Fern Fort University 2022). There are several opportunities of the company like increase revenue for the countries like China, India and South Africa; improved capabilities of the company in the technologies; strategic acquisition of the company. The threats are fluctuation of currency; healthcare reform legislation; variation in the regulation of the government.
The political factors that have impacts on Thermo Fisher Scientific are developments that are stemming from the Brexit and US presidential election. There are variations in the governmental regulations that are related with healthcare. The economic factors impacting the Thermo Fisher Scientific are changes in the economic condition; affected stream of revenue via the allocation of the budget, exchange rate risk (Thermofisher 2022c). The social factors that have impacts on the company are altering attitude of the employee towards the healthcare, attitude of the society towards research; Technological factors are adaptation to the rapid change of the technology security and safety products. There are various legal factors that have severe impact on the company. This factor is compliance of Thermo Fisher Scientific with variety of laws and regulations. The environmental factor is condition of the climate and weather, recycling and pollution.
