Introduction to GlaxoSmithKline
GlaxoSmithKline (GSK) is one of the renowned British pharmaceutical companies which have put a strong footprint in the pharmaceutical industry by providing quality service to its consumers. Two organizations Glaxo Wellcome and SmithKiline have merged up in 2000 and GlaxoSmithKline has started its journey. It is considered as one of the highest profit earning pharmaceutical company of the world. It has secured the position of world’s sixth largest pharmaceutical company in 2015 (Berger et al. 2016). It earns huge amount of revenue per year from all over the world. It offers large number of medicines of asthma, cancer, infection and diabetes. Being one of the renowned brands in the pharmaceutical industry, GSK preserves a rich financial and cultural background. It has owned several rewards and recognition due to his performance (). The organization is known for its participation in the community development as well. The organizational leader of GSK has taken various notable initiatives to support community development and people around the organization. It is associated with the World Health Organization (WHO) (Cha et al. 2015). GSK supports such as global Alliance to Eliminate Lymphatic Finlariasis. It provides drugs in low cost to the poor countries. The organization operates in local as well as global market. It operates in various countries altogether, such as: Algeria, Argentina, Middle East, Asian countries, Australia and so on. The primary objective of the organizational leader of GSK is to provide quality service in a large scale. The organization always embraces new techniques and strategies to support the organizational growth. The organization is run by a team of experienced and skilled leaders who possess quality experience in the drug industry. Andrew Witty, the CEO of GSK claims that the organization wants to maintain healthy relation with the consumers as well as society. The organization tries to maintain a strong culture within the organizational structure to ensure bright future of the organization. They have adopted many efficient strategies to manage their business in the local as well as foreign countries (Gsk.com 2017).
The following article has concentrated on the organizational structure of GSK. It has discussed about the strategies of the organization that has been adopted by the leaders to put a strong footprint in the pharmaceutical industry of the entire world. It has enlightened various aspects of the organizational structure. Therefore it has discussed about the relationship between the business strategy, innovation strategy and internationalization strategy of the organization that has influenced the performance of the organization and helped it to put remarkable footprint in the pharmaceutical industry.
Analysis of Competitive Strategy and International Strategy of GlaxoSmithKline
The competitive nature of the market has been increased in recent time with the arrival of various rival business organizations. It has become crucial for every business organization to survive in this competitive era. Every business organizations now a days are adopting modern techniques to battle against the rival companies. Expansion in the global market is one of the key strategies that have been incorporated by several business organizations to enhance their potentiality (Chesbrough and Chen 2015). It is one of the key success factors of many business organizations. Being one of the renowned business organizations in the pharmaceutical industry, GSK also operates its organizational function in many countries in all over the world. The organizational leaders of GSK focus on implementing many new strategies which has enhanced the competitive advantage of the organization. Porter’s diamond model has been used to analyze the competitive advantage of the organization.
Porter’s diamond model consists of six key components such as: Firm/strategy/structure and rivalry, factor condition, related and support industry, demand condition, chance and government. Porter’s diamond model is mainly used to analyze the competitive advantage of any organization. It enlightens different sectors of the organization that play crucial role in the success of the organization. Different sectors have been analyzed in this report to provide a clear idea about the competitive advantage of GlaxoSmithKline (Brunner et al. 2016).
Demand condition provides a clear idea about the requirement and desires of the potential consumers of an organization. In order to increase the demand of any particular product or service, local market plays vital role. It helps the organization to understand the market trend and condition and design their organizational structure according to the market structure (Travis et al. 2016). GSK is one of the renowned names in the pharmaceutical industry of the world. It is known offers wide range of drugs to its consumers to heal many deadly diseases. According to reports, due to high pollution rate and rapid growth of global warming, the rate of asthma, cancer and diabetes has drastically increased in past few decades. GSK offers variety of products to its consumers to deal with these diseases (Gordon 2015). It has increased the popularity of GSK in significant manner in the local as well as global context. It earns huge amount of revenue every year by providing its quality product and service in a large scale. The organization as adopted various unique strategies to meet the requirement and expectation level of the global and local consumers. As the demand of the drugs is increasing day by day and diseases are becoming complicated as well, the organizational management of GSK has invested heavily on the research work to invent modern medicines to support the demand of the consumers. It helps the organization to maintain balance between the market demand and supply of products (Zimmer et al. 2015).
Factor condition consists of two key factors, such as: basic factors and advance factors. Basic factors include natural resources, climate, location and demographics. On the other hand, advance factors include communication infrastructure, skilled labors and research facilities and so on. GSK has expanded its wings in the foreign market to strengthen its organizational structure. It uses efficient communication strategy to communicate its large number of consumers (Emery et al. 2015). It implements modern communications tools, such as: websites, internet social media to communicate with the local and global consumers. It helps the organization to maintain an interactive relation with the consumers and observe the preference as well as obtain the feedback of the consumers which is beneficial for the organization to design the strategy and structure. Employees are the key element of the business organizations which stimulates the production process of the organization. In this scenario, the leaders of GSK pays close attention to the recruitment process of the organization (Bhutta et al. 2015). GSK is known as the highest employer of United Kingdom. Being one of the renowned and large business organizations, GSK possesses a large workforce that supports the organizational operations. The organizational management appoints skilled and experienced members in the organizational structure who can influence the organizational function with their quality performance. They provide sufficient remuneration to their employees to support the growth of their performance as they are aware of the fact that it will put strong impact on the organizational performance (Georgiou et al. 2015). All the employees of the organization have quality experience in the pharmaceutical field and organization provides high remuneration to their experienced employees. The high investment in the research field has distinguished GSK from its rival companies. It believes in innovation. In order to include innovation in the organizational process, the organizational authority of GSK appoints skilled and highly qualified researchers in their organization who possess great knowledge in the field of medicine. The organization is associated with various research works which helps them to invent and provide high quality and useful drugs to the victims of the complicated diseases (Goldstone and Brown 2015).
United Kingdom’s success in the manufacturing industry in all over the world is another major reason for the success of the pharmaceutical industry of United Kingdom (Goodall et al. 2015). It has provided sufficient support to the pharmaceutical industry of the world. Related and support industry plays key role in the success of every industry, as it helps the industry of a particular country to grab the attention of the local as well as the global consumers towards the industry and promote the name in all over the world. The rapid growth of the manufacturing industry in the global context has drawn the attention of the large number of consumers towards the organization. It has strengthened the financial structure of the country which has boosted up the development of the drug industry (Gorkin and Gruzglin 2016).
Firm strategy, structure is an integral part and both plays significant role in the growth of the organization. CSR policies work as a weapon for the organization to beat the rival organization and maintain positive relation with local community (Grabowski, DiMasi and Long 2015). In this scenario, the CSR policies of GSK help the organization to ear the long term organizational goal. As per the report, GSK is associated with various social awareness campaigns. It is associated with World Health Organization and it supports various campaigns to save the world from deadly diseases. Such practices have brightened up the image of the organization in the society and helped to earn respect among the rival companies of the industry. In order to run the organizational operation flawlessly, it is important to maintain healthy relation with the local people (Singh et al. 2016). On the other hand, rivalry puts also significant impact on the competitive advantage of every organization. High rivalry in the industry helps business organization to sharpen their skills to battle against their rival companies. Being one of the renowned pharmaceutical industries of the world, United Kingdom has many famous drug companies that are giving tough competition to each other, such as: Pfizer, Merck & Co., Eli Lily and Company and so on. These organizations play vital role in increasing the competitive advantage of GSK. Due to high competitive nature of the market, GSK is incorporating modern and efficient strategies to fight against the rival companies (Grob et al. 2015).
Government and chance plays vital role in the development of the business organization. Chance and government policies are interrelated. Feasible and flexible business policies provide wide opportunities to the business organization to earn long term organizational goal. It is important for the business organization to maintain healthy relation with the local government to run organizational operation in an uninterrupted manner. GSK maintains healthy relation with the local UK government and government of other countries as well where it operates its organizational function. Due to have a strong and transparent business law, UK government has supported the growth of GSK and GSK provide sufficient support to the financial infrastructure of the native country by earning huge amount of revenue from several countries (Sullivan et al. 2016).
The rate of the environmental pollution is increasing day by day which is affecting human health in significant impact. It has increased the complexities of the diseases as well. Thus, medicines are now a days working as life support for the human beings. On the other hand, the scenario of the drug industry has been transformed with the advancement of the latest technologies and modern science (Hart et al. 2016). The scientists are giving their tireless efforts to invent modern medicines which will be helpful for the victims of the various massive diseases to cure and heal their wounds. Pharmaceutical industry is mainly dominated by the several multinational companies of various countries, such as Europe, USA, China and Brazil. The emergence of technologies has supported the innovation strategy of the pharmaceutical industry. Since past few years, the pharmaceutical industries of various countries are adopting various strategies to invent efficient, effective and scientific medicines that can support the human being to fight against many deadly diseases. Pharmaceutical industry is known for its high rate of globalization. Being based upon the modern techniques, the pharmaceutical industry is being re-structured since past few years. The leaders of the industry always encourage and embrace innovation as it helps them to earn huge profit by selling these products in the global as well as in the local market. Although, the issue of innovation in the medicine sector is an issue of debate, according to many people the industry has not been transformed much with the invention of latest technologies. However, there are some people who claim that since past few decades the leaders of pharmaceutical industry have greatly adopted modern chemical structure to invent useful medicines and save the earth from the deadly diseases (Muangchan et al. 2015). The modification of the pharmaceutical industry can be adopted by the modification of the chemical structure, synthesis method and strategy and so on. According to many reports, the innovation of the modern technologies has stimulated the growth of the pharmaceutical industry. Technology is increasing day by day which has put significant impact on the growth of the pharmaceutical industry. At the same time, the researchers have claimed that latest technologies have not only supported the innovation of the medicines, but it has enhanced the production process of the industry. It has helped the drug companies to produce maximum number of medicines within a short span of time that can heal the issues of the large number of people (Horne et al. 2015). Technology has helped the pharmaceutical industry as well as other members of the medical world to provide safe and assured treatment to the patients. Some key benefits have been observed in past few years by the innovation and transformation of the drug industry of the world, such as: innovation or benefit to heal those diseases for which no treatment was available earlier, improvement of the existing treatment procedure, safe and modern treatment facilities, low treatment cost for the patients, availability of the treatment for a wide range of people and so on. According to the report of Office of Fair Trading of United Kingdom, the innovation of the modern treatment process an drugs has changed the scenario of the pharmaceutical industry in and remarkable manner and the industry deserves appreciation and reward for their consecutive support. It has increased the sales rate of global pharmaceutical industry. The sales rate has reached approximately $1.1 trillion in 2015 (Hwang et al. 2015). Some reports claim that innovation of the pharmaceutical industry requires the assistance of strategic, organizational and managerial decision of the leaders of the industry. USA is considered as the largest market for drugs. The country works as a giant in the global pharmaceutical industry and covers huge share in the global pharmaceutical market. The innovation in the life science is also responsible for the innovation of the drug industry. The latest achievements in the field of life science have supported the growth of the pharmaceutical industry and provide sufficient help to the human health. According to the reports, many new brands of drugs have been introduced in last five years (Tan et al. 2015). In the USA 3000 new drugs have been introduced in the past few decades which have put significant impact on the financial infrastructure of the country. It has increased the job opportunities of the country. The per year revenue of the countries are increasing by the innovation. It has provided a wide opportunity to restructure the infrastructure of the countries and a scope of better lifestyle to the natives of the countries. Countries who mainly dominate the global pharmaceutical industry, such as: USA Europe are earning huge amount of foreign currency by providing life support to the people from the various countries which is responsible for their strong economic condition (Kafouros et al. 2015).
GlaxoSmithKline is known for adopting new and innovative strategies within the organization as well as in the external field. According to some reports, GSK has the capability to adopt modern techniques and it is building a pipeline of treatment to help people tom treat their diseases. GSK has brought revolution in the in the world of medicine by its performance and change the way of thinking of people about medicines (Krueger et al. 2015). The organization has put strong footprint in the local as well as global market by innovative ideas. The organization is associated with Merck, the WHO and World Bank to support the patients of Filariasis. The organization has donated a huge amount of its revenue to the people who are suffering from this deadly disease. As per the report, many people in the world are suffering from Filariasis. This notable footstep has helped the organization to earn respect in the global context. It is considered as one of the most efficient and helpful strategy for the organization to expand its wings in the global market. As per the reports, GlaxoSmithKline has donated approximately two billion from its annual revenue to provide medicines, medical staff, expertise and other supports in the various medical camp of the world (Long et al. 2016). It helps the organization to reach to the large number of people from various parts of the world. The organizational management pays close attention to the market trend, requirement and competitive nature of the market while designing their organizational strategy and policy. The emergence of the market competition has led the organization to adopt global expansion strategy, as they are aware of the fact that it will help them to battle against the rival companies and set a milestone in the industry. The organization has left no stone unturned to achieve desired position in the local as well as in the global market (Gsk.com 2017).
GSK has reduced the gap between the research work for the diseases of rich and poor. Africa is considered as one of the less developed country of the world which has huge burden of deadly diseases, such as: malaria, jaundice and so on. The organizational management of GSK has associated with local nonprofit organization to provide malaria vaccine to the victims. The organization has collaborated with PATH malaria vaccine initiatives to provide sufficient support to the malaria victims (Barney 1996). This has brought lots of respect and support to the organization. On the other hand, the leaders of GSK have associated with Crucell’s to provide vaccine and medical help to the tuberculosis victims. Such notable initiatives of the organization have helped the organization to earn huge popularity from across the border which works as a weapon for the organization to enter into the global market (Gsk.com 2017).
The organization has always maintained healthy relation with the rival companies and along with the rival companies it has achieved many targets. The organization has signed a new deal with Crucell’s after the huge success in the tuberculosis to invent second generation malaria vaccine which will be 80% more effective than the previous vaccines (Fletcher 2015). There are many companies with whom GSK has signed effective deals to reach to the next level of innovation, such as: Novartis, Sanofi- Aventis and so on. It has collaborated with Pfizer to launch one HIV Company to provide treatment help to the victims of HIV positive. The organization has always spent a huge amount of its revenue in the research work to invent efficient medicines which can help people to get cured (Gsk.com 2017).
In recent time GSK has adopted three unique strategies which will be helpful for the organization to reach to the large number of people in the world. The organization is launching new reach facilities in Trees Cantos for the external research purpose. The aim of this initiative is to present a world-class research university to the world. The organization does not take any independent project, but it always supports innovative and creative ideas which will protect the world from the massive diseases (Michelino et al. 2015). The second initiative taken by GSK is to support the victims of the neglected diseases. According to the leaders of the organization there are many people in this world who are suffering from various kinds of serious diseases which are neglected. The organization has signed an agreement with the nonprofit organization called BIO Ventures for Global Health. This nonprofits organization extends its support to the people who are away from their family members and suffering from any kind of serious disease. GSK has collaborated with the organization to provide medical support, such as medicines, vaccine and so on to the people who are suffering from any kind of neglected disease. Another major strategy chosen by the organization is to establish a library that will be helpful for the researcher of the various deadly diseases, such as: malaria, jaundice, tropical disease and so on. The organization has spent more than a year to establish this library to support the future research works. It has spent a huge amount of its total revenue to create this library (Gsk.com 2017).
The organization provides its pneumococcal vaccine in the lower cost, so that people from various income groups can avail their medicines. The organization has reduced the gap between the treatment process for the rich and poor people of the society which has distinguished GSK from the remaining medicine companies (Ofenloch et al. 2015). The organizational management of GSK has designed their product price in such manner so that even the consumers from the poorest country can also avail their medicines. This has increased the popularity of the GSK in the global context and helped the organization to gain faith and respect of the consumers from all over the world. As per the report, GSK provides 80 percent of its 1.4 billion dose vaccine volume to the poor countries every year. The organizational strategy and price rates of the products of GSK have been designed in flexible manner. The organization provides its products and service to various countries according to the financial infrastructure of that particular country. It helps the people from the lower income group to avail these products (Gsk.com 2017).
Such practices of GSK has helped the organization to become one f the giants in the global pharmaceutical industry. The organizational management of the GSK conduct various market researches in the global market which provides clear idea about the market trend and demand of the consumers in that particular market. Therefore they design their organizational structure and strategy accordingly. It helps them to influence the buying behaviour of the consumers and earn desired position in the market. Such strategies work as a marketing strategy of the organization. The organization can easily earn huge popularity among the target market by such practices. It is important to maintain healthy relation with the local community and local people. CSR policies often work as a public relation agent of the organization. Thus, the organizational management of GSK uses these strategies to reach to the large number of the consumers from the various parts of the world (Biemans et al. 2017).
The success of every business organization is highly relied on the environment of the local market. There are various aspects of the national market environment that helps the business organization to survive in the global market, such as: market environment, political and financial infrastructure of the country and so on. Such factors plays crucial role in the organizational growth (Arico and Comanducci 2016). The market competitiveness of the local market helps the organization to sharpen its skills which helps the organization to fight against the rival companies of the global market. In this scenario, UK has many renowned names in the pharmaceutical industry which are incorporating the various relevant strategies every now and then in the organizational structure to strengthen their organizational performance which has put significant impact on the performance of GSK as well. The presence of the rival companies in the market of United Kingdom has increased the market competitiveness which has shaped the organizational strategy and structure of GSK. It helps the organization to observe how to fight against the rival companies (Owens et al. 2015). The organizational management of GSK has adopted various corporate and marketing strategies to promote the brand name among the potential consumers which has grabbed the attention of the global consumers along with the local consumers. It has helped the organization to gather knowledge about the market competitiveness in the global market and fight against the global competitors. By such practices the organization has become one of the giants in the world of medicines.
The stable and transparent economic condition of United Kingdom has stimulated the growth of the GSK and helped the organization to expand their wings in the global market. Financial infrastructure of any country puts significant impact on the growth of every business organization. It helps the organization to get all the basic facilities which is required for the growth of the organization. The steady financial infrastructure of United Kingdom has helped the organization to shape their organizational structure in an appropriate manner. It has helped the organization to provide quality service to the potential consumers and earn huge profit from the local market which is highly beneficial for the growth of the organization and enter into the global market easily by using all, the possible techniques (Rashmi 2017).
The stable political condition of United Kingdom has helped the organization to provide uninterrupted service to the local market and adopt modern technologies and gain popularity in the local as well as in the local market. Political condition of the country plays vital role in the growth of the organization. The transparent business policy of United Kingdom, reasonable tariff rates has helped the organization to flourish drastically. The organizational management of GSK has used these facilities to design their organizational structure and earn desired position in the local and global market. Business law works as a major strength for the local and global business organization to develop (Smith et al. 2016). Thus, due to transparent business law the organization has become capable of meeting the expectation level of the global consumers. The healthy relation with the local government has put a positive impact on the brand image of GSK which has helped the organization to enter into the global market successfully.
The business strategy of GlaxoSmithKline is an integral part of the innovation strategy and internationalization strategy (Tan et al. 2016). These strategies are interrelated and play vital role in the development of every business organization. In this scenario, GSK has adopted various strategies to ensure bright future for the organization. The organizational management of GSK has adopted several strategies such as provide low cost medicines to the needy people, support research work for inventing medicines and so on. Each of these strategies has helped the organization to put remarkable mark in the local as well as global market. The aim of the organization is to reach to the maximum number of potential consumers and provide high quality service to the consumers. These strategies have helped the organization to earn the desired target. The organizational management of GSK has designed their organizational structure in such a manner which has helped them to grab the attention of the local and global consumers (Torres, Ibarra and Arenas 2015). It would not be possible for the leaders of GSK to cover large number of market share in the global market without adopting innovation strategy such as: provide free vaccination to the malaria victims or establish a library for the researchers to support the future researches. Such strategies have worked as a brand promotion for the organization and promote the brand name in the market. Business strategies of the organization has helped the organization to provide quality product and service to the large number of consumers and gain popularity in the market which has helped the organization to enter into the foreign market in an effective manner (Wang, Plump and Ringel 2015). The innovative business strategy has helped the organization to earn the respect among the rival companies also. The organization has set an example by collaborating with the rival companies. It has given strong message to the consumers on the behalf of the company that the organization wants to maintain healthy business environment in the market which has helped the organization to gain popularity. Due to innovative business strategy, the organization has become capable of taking notable steps in the foreign market and competes against the foreign rival companies (Farah et al. 2015). Otherwise it is difficult for any business organization to enter into the foreign market and survive there. It requires efficient organizational strategy and managerial decision. As discussed earlier, GSK is run by a team of experienced and team leaders which is one of the key success factors of the organization. Thus, the team leaders help the organization to enter in the international market and provide high quality service to the large number of consumers. Thus, it can be stated that business strategy, innovation strategy and internationalization strategies of GSK are interrelated (Tan et al. 2016).
As per the previous discussion, it can be stated that GSK has put a remarkable footprint in the local as well as global market by providing quality service to the local as well as global consumers. The organizational management of GSK always stays close to the requirement and preference of the potential consumers. The organizational management always conducts various researches in the local and global market to observe the market condition. It helps the organization to adopt modern and innovative strategies which help the organization to gain popularity. GSK is known for its innovative business strategies. It believes in innovating new and modern medicines and reaches to the next level of research. The organization always encourages the scientist to invent modern medicines to help the victims of massive diseases. Thus, it invests huge amount of revenue in the research work. The organization has taken various kinds of CSR initiatives to earn the desired position in the market. The competitive nature of the market is increasing every day; the organizational management of GSK needs to fight against various obstacles every now and then to survive in the race with other medicine companies. The organization has concentrated on innovation to battle against the rival companies. It has helped the organization to earn huge profit margin by providing quality service to the large number of consumers in the national and international market and set an example for other business organizations.
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