CSL Company deals with various specialised pharmaceutical products and in this report, its marketing strategies will be discussed in order to develop their effective image in the global pharmaceutical industry. This company was founded in 1916 and their headquarters is situated in Victoria. They are also present in most parts of the world. Under this report, marketing analysis i.e. qualitative and quantitative analysis will be used in order to determine their values as per the size and the volume of the market. They are known for providing adequate qualitative medications to its users and with the effect of this, they have developed their appropriate market image in the dynamic business environment. Major products of CSL Company are antivenom, blood plasma derivation, vaccines and cell culture reagents. All of these products are known as the specialised products of the organization and with the effect of these products’ success in the market; they have developed their effective goodwill in the Australian market. Their revenues were $6.923 billion in the last year. In the next phase of this report, various strategies will be used in order to evaluate the effectiveness of the organization in the global market. Human resources, planning overview and the value chain analysis will be conducted for removing the barriers for the organization which is affecting its performance in the global market.
CSL Company was founded in 1916 by the Australian government with the name of Commonwealth Serum Laboratories. Their primary activity is to cure the humans of severe diseases through their biotechnological medicines and to perform this function in an adequate manner; they have invented other crucial products like blood plasma derivation, cell culture reagents, etc. Organization was privatised in 1994 and their current CEO is Mr. Paul Perreault. They have gained effective market image in the global market and various hospitals and medical institutions are dependent upon the CSL Company in order to perform their functionalities in better way. These are some of the primary activities of the organization and with these functions; they have acquired an effective image in the global market through serving appropriate qualitative medicines. Their secondary activities include prevention of environment through restoring water, soil and natural resources at cheap prices (CSL, 2017).
Being a part of the government bodies in the past, they still follow the same set of policies, rules, and regulations. This helps them to attain the competitive advantage in the global market because governmental considerations are the set of ethical policies which fulfils the requirement of the political, legal and the economic factors of the external business environment. It promotes the company towards the success and the chances of growth factor also increase. As organization is performing its activities on the basis of governmental rules and regulations, price of the products offered by them are quite cheap and they are easily affordable for all types of people. They have adequate amount of social as well as technological factors present in their methodologies which are the biggest strengths of the organization. Apart from CSL, Baxter and Grifols are two major companies which share the market share in the Australian pharmaceutical industry (CSL, 2017).
This is the crucial procedure of the market analysis as this helps the organization to organise its activities in an appropriate manner and in accordance with the global market. The company has adopted various effective strategies in order to attain its goals and the objectives in the global market context. Apart from this, the major and obligatory requirement for the organization is to follow the codes of the conducts in order to provide adequate qualitative products to the public. This helps the organization to gain the adequate benefits in the competitive business environment along with gaining the competitive advantage in the community (CSL, 2017). Following are some of the ethics and the values from the perception of the organization:
CSL has developed their vision and the mission for attaining the separate and adequate image in the global market and for this; they use natural resources for manufacturing medicines and other types of medical products. Apart from this, organization has adopted the strategy of holistic approach and the eco-friendly packaging to protect the environment. These strategies are capable enough to gather adequate amount of competitive advantage in the global market. These strategies help them to serve the patients with appropriate qualitative products. It shows the value of the organization towards its consumers and towards the society (Witcomb, 2015).
For instance, if the medicines adopted by the consumers will not be of adequate quality, it will affect their health. To make the consumer’s experience better, organization has made their primary goals as to provide adequate qualitative and effective medicines so that consumers could be able to fight with the particular disease from which they are suffering. In context to this, organization has adopted the innovation strategy so that they could improve their medicines regularly as per the consumer’s requirements (Armstrong, et. al., 2015).
Apart from these things, organization has implemented their quality and other measures sincerely in their workplace for meeting with its goals and the objectives. As discussed above, organization has implemented the ethical values in their workplace for matching up the level of expectations set by the consumers. The same is the reason which could help them to enhance their working procedures for enhancing their image in the target market. Organization has managed its activities in an appropriate manner through which they could develop a positive impact on the society. And the strategies adopted by them are updated regularly with their innovative techniques with the objective to enhance the organizational performance and to gain competitive advantage in the global market. CSL has developed its strategies in accordance with its competitor’s strategies in order to attain sustainable growth (Quintana-García & Benavides-Velasco, 2016).
Managing the human resource available with the company is quite difficult process and in order to accomplish the targets of the organization, this activity should be performed with adequate amount of integrity and by appointing right person at the right position. With the help of these techniques, organization is able to gain appropriate positive image in the global market over its competitors. For the same, they have developed a separate team in relation to the research and development which are concerned about the inventing new technologies and formulas to enhance the performance and the effectiveness of the existing medicines of the organization. Apart from this, organization has also implemented the procedure of developing cooperation in their teams (Lainez, et. al., 2017). Cooperation is vital element through which organization could attain its desired goals inappropriate set of time. For improving its staff's capabilities, organization has adopted effective training and counseling sessions for enhancing the growth opportunities. Till the time, effective training measures will not be provided to the employees, organization will not be able to get the work done from its employees as per the expectations of the management. Apart from this, it also helps the organization to save its time because employees will be able to understand the expectations, procedures as well as the method used to perform the particular activity with regards to accomplish the targets of the organization (Bueno, Merino & Murcia, 2016).
Organization is also responsible towards the employees in terms of providing ethical and safe workplace because it is the major concern through which employees could feel safe and secure working in the workplace provided by the organization. This technique builds positive image in the employee's mindsets and fulfilling their basic needs influence them to perform in a team so that goals and the objectives could be attained in the appropriate period of time (Schaltegger & Burritt, 2014).
CSL has moulded their functionalities in such a manner which could have helped them to attain their desired goals and the targets. With the effect of this, it makes them unique and distinct from its competitors. CSL has a global leadership group through which they get appropriate directions to reach towards its objectives and to meet the standards built up by them are effective enough to accomplish its targets. They have adopted the democratic leadership style under which all the employees are invited to the decision-making process of the organization. And the most appropriate decision is being selected as per the majority basis. With the help of democratic style of leadership, organization is capable enough to gain appropriate goodwill in the dynamic business environment. To attain the sustainable growth in the competitive business environment, leaders focus on both the aspects i.e. organizational as well as employees'. Maintaining balance between the organizational requirements and the employee's requirements is bit difficult task but the leadership style adopted by the CSL group is impressive enough to gain adequate competitive advantage in the business environment (Strand, 2014).
The concept of the value chain has been considered as an integral part as this process comprises of supplying the products to the potential consumers. CSL is required to essentially adapt an effective supply chain management system so as to offer timely services to the service users and patients. Modifications and up-gradation are also required in the value chain system for the entity so as to be in the competitive environment (Barea, 2015).
Technology has also been considered as an empirical player in the operations and activities of the organization. For growing in the largest market the entity has implemented various advanced technologies and from which they have an ease in gathering opportunities for sustaining and growing. The therapeutic product is the latest advancement which has been invented by the company for fulfilling the requirements of the patients. Moreover, the business entity has also been operating in the various regions all over the world and so as to offer the services globally (Tseng, Lim & Wong, 2015).
The below described are the strategies on which focus should be made so as to initiate effectiveness in the operations:
Product strategy: The business entity operates in offering services and products which are utilized for preventing and curing the lives of many people. The main objective behind offering the products and services is saving the lives and make them lead a healthy life. The below mentioned are the key products offered by CSL:
Moreover, the organization should also focus on a clear and visible packaging and labelling and that too in eco-friendly material (Clarysse, et. al., 2014).
Pricing strategy: Competitive pricing strategy should be implemented by offering discounts and various offers over the products which will aid the entity in bringing prices of products down as compared to that of the rivals. In case of the bulk purchase, the entity can offer great discounts so as to bring a hike in sale (Short, Toffel & Hugill, 2016).
Promotional strategy: The term promotion has been considered as one of the significant mechanisms so as to increase and develop awareness about the product. The business organization will also be able to bring an enhancement in the effectiveness in making the products presented in-front of the potential consumers. The promotion strategies implemented will aid the entity in enhancing and developing the market share and goodwill (Pagell & Shevchenko, 2014).
In the limelight of the above-executed analysis, it has been inferred that CSL is a business corporation which has been offering products and services so as to cure and make the people in leading a safe and healthy life. The business entity is involved in the operations of development of the products in such a manner that they are assisting the audience in curing their diseases. The above report has been made focused on the sustainable practices and operations which are being practiced by the organization so as to survive in the competitive environment.
It has been recommended that entity should concentrate on delivering quality products with a reasonable pricing scheme. The stores and health care centers should be located in the areas which are easily accessible for timely availability of the medications. Natural and environmentally friendly resources should be utilized so as to enhance the quality and societal approach of the products.
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Bueno, E., Merino, C. and Murcia, C., 2016, Intellectual Capital as a Strategic Model to Create Innovation in New Technology Based Firms, In Competitive Strategies for Small and Medium Enterprises (pp. 93-105). Springer International Publishing.
Clarysse, B., Wright, M., Bruneel, J. and Mahajan, A., 2014, Creating value in ecosystems: Crossing the chasm between knowledge and business ecosystems, Research Policy, 43(7), pp.1164-1176.
CSL, 2017, Board & Management, retrieved from https://www.csl.com.au/about/board-management.htm.
CSL, 2017, CSL Behring Acquires Biotech Company Calimmune and its Proprietary Stem Cell Gene Therapy Platform, retrieved from https://www.csl.com.au/investors/CSL-Behring-Acquires-Biotech-Company-Calimmune-and-its-Proprietary-Stem-Cell-Gene-Therapy-Platform.
CSL, 2017, Our products areas, retrieved from https://www.csl.com.au/products.
Grajales III, F.J., Sheps, S., Ho, K., Novak-Lauscher, H. and Eysenbach, G., 2014, Social media: a review and tutorial of applications in medicine and health care, Journal of medical Internet research, 16(2).
Lainez, M., González, J.M., Aguilar, A. and Vela, C., 2017, Spanish strategy on bioeconomy: towards a knowledge based sustainable innovation, New Biotechnology.
Pagell, M. and Shevchenko, A., 2014, Why research in sustainable supply chain management should have no future, Journal of supply chain management, 50(1), pp.44-55.
Quintana-García, C. and Benavides-Velasco, C.A., 2016, Gender diversity in top management teams and innovation capabilities: The initial public offerings of biotechnology firms, Long Range Planning, 49(4), pp.507-518.
Schaltegger, S. and Burritt, R., 2014, Measuring and managing sustainability performance of supply chains: Review and sustainability supply chain management framework, Supply Chain Management: An International Journal, 19(3), pp.232-241.
Short, J.L., Toffel, M.W. and Hugill, A.R., 2016, Monitoring global supply chains, Strategic Management Journal, 37(9), pp.1878-1897.
Strand, R., 2014, Strategic leadership of corporate sustainability, Journal of Business Ethics, 123(4), pp.687-706.
Tseng, M., Lim, M. and Wong, W.P., 2015, Sustainable supply chain management: A closed-loop network hierarchical approach, Industrial Management & Data Systems, 115(3), pp.436-461.
Witcomb, G, 2015, CSl growth to slow as competition rises, retrieved from https://www.intelligentinvestor.com.au/CSLs-growth-to-slow-as-competition-rises
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