CSL Limited is an Australian based biotechnology company, which is specialized in the manufacture of all types of biotechnological and advanced pharmaceutical products. Blood plasma derivatives, vaccines, cell culture agents and immunogenic materials are few of the important manufactured product line of the company. The company also manufacturers various types of research kits that are used in investigation work of genetic and biotechnological work.
The company was initiated in the year 1916 under the brand name of Commonwealth Serum Laboratories, which was initiated by the healthcare department in of Australia. At the initial stage the company mainly focused on the manufacture of vaccines (Csl.com.au, 2017).
The board management of CSL Limited is responsible for oversight of the company and providing strategic direction for Business Development. With effective leadership of the company it is possible to properly assess the research and development section. The board of CSL is operated by 10 members that is headed by the Chairman Professor John Shine and Paul Perreault, who is the CEO and MD. Each department of the company is headed by a scientist or professor, who are responsible the research and development program and the team of researchers. The company has also employed marketing experts, who are responsible for the implementing effective plan for the marketing. High standard of corporate governance is more essential to deal with the promotion activities related to the company. Effective strategic planning and risk management are major part of the company that helps to maintain transparency. The board members of the company are responsible for providing future direction that help them to develop biotechnological and Pharmaceutical products.
In the 21st century, the progress of the Pharmaceutical department is entirely dependent upon research work of biotechnological firms. As there is increase in the total number of chronic diseases like high blood pressure, diabetes or deadly disease like cancer, there is an increase demand in the market for advanced modern medicine. The principles of biotechnology are being applied in the manufacturing process of modern medicine, which are effective in providing gene therapy for permanent cure of deadly diseases. The biotechnological industry is dependent upon application of biological principles and techniques, in a manufacturing process of advanced level of medicine. It is essential to have a high level of technological infrastructure for global development of biotechnology industry. There are nearly 200 new therapies and modern medicines that are introduced with the help of biotechnology research (Danzonand andKeuffel 2014). These new medicines have created new business opportunity for the biotechnology and Pharmaceutical firms in the Global market. The excellent research facilities that are available with the department of Australia along with some world class scientists, it is possible to introduce some of the latest forms of medicine. Some of the key areas of success in biotechnology industry of Australia is due to their advanced level of clinical trials. Currently there are more than 500 biotechnology companies operating under the pharmaceutical industry of Australia (Wilsonet al. 2014).
It is important for the CSL limited to conduct proper business environment, which is done with the help of elements of political, social, economic and legal factors.
The political stability in the biotechnology and pharmaceutical industry of Australia plays a major part in the business development of CSL. There is also the risk of high level of corruption that are involved in the political environment of biotechnology industry.
It is also important for the company to consider the economic condition of Australia. The government intervention in the free market of Pharmaceutical and Biotechnology industry is a significant part in economic growth of the company (PopescuandPopescu 2015).
The society of Australia, which is highly focused upon getting latest form of modern medicine also, has a major impact on the business performance of CSL. The competitive environment of the biotechnology industry in Australia can be determined with the help of the technological infrastructure. As more number of companies are entering into the biotechnology industry, it is essential to consider about the Technological infrastructure of the rivals, which can cause major competitive disadvantage for CSL (Jacksonet al. 2017).
The Government of Australia has also implemented strict legal protocol for pharmaceutical manufacturers. These include discrimination law and intellectual property law, which will ensure that there is no illegal manufacture of any forms of modern medicine that are developed with the help of biotechnological principles (Limited, 2017).
The company is of high important in context of the biotech industry of Australia. CSL has the highest market share in their respective domain and all over the globe the company plays a crucial part in the advancement of the modern medicine using the principles of Biotech. The company is also important in context of the future research work. This is due to the fact it has the potential to introduce new forms of therapies for all deadly dieses and also improve over the existing distribution system of all types of pharmaceutical products.
The important mission and vision of CSL Limited is to be passionate about providing quality and safe products to the customer, which is obtained from high level of extensive research. The commitment level towards the client of the company is provided with the help of five main core values, which help in maintaining sustainability in the business environment.
Being repeated Global Biotech Company; one of the major aim of CSL is to focus up on the needs of patient suffering from Life threatening diseases. The company focuses upon the challenges that are encountered by people in various health challenging situations. The research and development team of CSL is aiming to introduce new therapies, which can improve the existing clinical treatment procedures of life threatening diseases. The company also aims to maintain sustainability by reducing the accessibility of advanced medicine for all group of patient (Cslbehring.com, 2017).
Implementation of innovation in biotech and Pharmaceutical research work is one of the basic organisational missions of CSL. The company has invested use capital in improving upon the technological infrastructure that includes introduction of robust pipeline for better safety and effectiveness of the lifesaving medicine. The innovative ideas are possible due to the talented scientists that are recruited by CSL. The goal of the company to have the ability to maintain sustainability can be fulfilled with its ability to make effective future decisions related to the research work of biotechnology. The innovative ideas are also effective in the process of decision making process (Cslbehring.com, 2017). The innovative ideas are also implemented on the basis of improving the marketing ideas related to better marketing strategies.
With the help of integrity which is also one of the major aims of the company, it is possible for the company management to communicate properly with the people of community and stakeholders. With the help of proper communication it is possible to maintain transparency within the work and manufacturing process of Pharmaceutical products. As the company is able to establish high level of trust, it is possible for them to maintain long term relationship with the community and stakeholder groups.
The company works in collaboration with various scientific communities that is highly essential in improving the research and development section. The company has also implemented special human resource policy to employee bio technological experts from different cultural backgrounds, which helps to improve the organisational strength of maintaining diversity. The company has also developed partnership with various Healthcare communities, Biopharmaceutical Company and Clinical Research Centre, which help them to deliver better health care service. As the company is able to form partnership with all major Nations, it is possible for them to expand upon their business. With the exchange of scientific ideas related to development of modern medicine it can help in the process of better development of advanced research work in designing modern medicine. With the help of collaboration work it is also possible for the company to have the ability to sustain and biotechnological industry.
Superior results are provided by the company in the manufacturing process of Pharmaceutical products, it can help them to develop upon their reputation and provide valuable service to the society. The Pursuit for excellence is one of the major aims of the company, which is the central idea for success and sustainable development in business. The main aim of the company is to constantly improving upon their organisational skills that are necessary in maintaining sustainability of the workplace(Eldridge and Eldridge, 2017).
Proper clinical trials are done before every set of drugs all Pharmaceutical products are released in a market. The environment health safety and sustainability are the few of the major elements of commitment that are provided by the company. The company has also implemented strong commitment towards matter related to environment conservation. It is also essential to avoid the environmental hazards that are associated with research work of biotechnology. Proper safety protocols are being followed in the research Labs that is meant to ensure high level of workplace safety.
Being one of the largest biotechnological industrial firms, the CSL limited has its facilities in all the major Nations including Australia, Germany, United Kingdom, Switzerland and United States. Currently the company is having more than 17000 employees, who are recruited from 30 Nations all across the globe. It is important to mention in this context that effective human resource policy is essential to improve over the organisational reputation and performance (Cslbehring.com, 2017). The executive management of CSL limited has implemented effective human resource policy, which is aim to improve the overall business policy and research and development work. The Global employee relations that are established by the human resource manager operate in a wide range of models.
Research and development team of CSL consists of 27% of the total employees. Compared to other Biotech companies CSL limited has more scientific research experts, which has helped them to introduce new therapies and Pharmaceutical products (Cslbehring.com, 2017). This policy of the company to recruit more scientist and Biotech experts can have the company to sustain better due to the fact that there will be great demand of improving the modern medicine to deal with major life threatening challenges. Research and development team of the company also gets opportunity to work with diverse group of experts, which help them to improve over their practical knowledge skill and social communication skill. This is highly essential in improving the network chain of the company, thereby improving over their brand popularity.
The diversity in the workforce that is maintained by CSL is believed to be Highly Effective in dealing with long term success plan of the company (Cslbehring.com, 2017). The human resource policy of the company is reflected upon within the cultural diversity that is maintained within the workplace of the company.
As mentioned in the previous section, one of the major important elements of CSL that has helped them to improve their level of performance is due to the fact that they have been able to provide better leadership skills. The company mainly follows the Global style of leadership, which is headed by the CEO Paul Perrault. The main focus of the company leaders and manager is to focus upon the future sustainability of Biotech and Pharmaceutical research work.
The leadership style which encourages cultural diversity and effective workforce communication has been a major cause of success of the company over past several years. The management of the company also encourages innovative research work, which motivates Research and Development group to take up the risk of implementing new method in modern medicine design (Verbekeet al. 2016).
In spite of the major planning work one of the major issues that has not been encounter by CSL is due to the fact that the company has not been able deal with the ethical issues. This has compromised upon the quality of research work that has been done by the research and development team. In many of the cases, the result of the research work could not be validated. This is mainly in the cases of dealing with the test result of the newly introduced drugs before they are being released in the market (de la Cueva-Méndez and Seliktar 2015).
The board members of CSL Limited are responsible in controlling all the major activities related to operation management. Both the CEO and chairman of the company have implemented effective communication skills with the stakeholders, which has helped the company to improve over their supply chain network about the Global community of Biotech and Pharmaceutical research work (Cslbehring.com, 2017).
As the company has increased the workforce over the past several years, the range of supply chain and operation management also has improved. This has also helped the company to improve over their share hold in the Global market of biotechnology and Pharmaceutical products. The last financial year, the company has been able to invest 25 million dollars in introducing new research firms and medical facilities that can be used for improving the drug testing ability (Cslbehring.com, 2017).
The company has implemented strict policy and vigilance survey deal with effective supplier management chain. In the department of manufacturing, the operation team has successfully been able to outsource critical resources, which is possible due to strict monitoring of supplier's risk profile. The major activities of supply chain operation include dealing with alternative suppliers, procurement of the resource to ensure safety of the available stock. The company has also maintained rigorous relationship with the entire supply chain network, which is believed to be one of the important elements of corporate social responsibility. The vast chain of supplier network that has been built by the company over past several years is essential in maintaining sustainability of the business and reputation of the company.
Sustainability of the company is the basis of all future strategies implemented by CSL.
Investment in valuable portfolio helps in the development of company’s future products. This has also been a major weak point of the company as they has not been able to invest more in the past. The future strategy will aim to recover from this weak point and increase the revenue investment amount.
The company has faced ethical challenges in the past while conducting advanced level of genetic research work. The future strategies need to focus upon implementing strict action to deal follow the ethical codes by getting approval for all forms of research work from the scientific society (Csl.com.au. 2017). In order to improve upon the human resource strategy, the company is aiming to maintain high level of transparency with all categories of employees.
From the previous analysis it is clear that CSL has effective leadership quality and to maintain the same in future, it is essential for them to recruit more number of biotechnologist within the company that will help to improve the decision making capability (Danzon and Keuffel 2014). This will also help the company to gain competitive advantage, which is highly challenging in the context of the present scenario.
Based on the analysis and details of the company that is mentioned in the previous sections there are few recommendations that are provided, which will aim to provide better workforce sustainability and development work of research:
Crommelin, D.J., Sindelar, R.D. and Meibohm, B. eds., 2013. Pharmaceutical biotechnology: fundamentals and applications. Springer Science & Business Media.
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Danzon, P.M. and Keuffel, E.L., 2014. Regulation of the pharmaceutical-biotechnology industry. In Economic Regulation and Its Reform: What Have We Learned? (pp. 407-484). University of Chicago Press.
Danzon, P.M. and Keuffel, E.L., 2014. Regulation of the pharmaceutical-biotechnology industry. In Economic Regulation and Its Reform: What Have We Learned? (pp. 407-484). University of Chicago Press.
de la Cueva-Méndez, G., and Seliktar, D. 2015. Editorial overview: Pharmaceutical biotechnology: Expanding horizons for pharmaceutical biotechnology in industry and academia.
Eldridge, E. and Eldridge, E. (2017). Can CSL Limited’s (ASX:CSL) ROE Continue To Surpass The Industry Average?. [online] Simply Wall St. Available at: https://simplywall.st/news/2017/09/29/can-csl-limiteds-asxcsl-roe-continue-to-surpass-the-industry-average/ [Accessed 13 Oct. 2017].
Jackson, J.K., Hussainy, S.Y. and Kirkpatrick, C.M., 2017. Identification of major factors in Australian primary care pharmacists’ practice environment that have a bearing on the implementation of professional models of practice. Australian Health Review, 41(4), pp.378-383.
Kilbane, J.J., 2017. II (2016) Future applications of biotechnology to the energy industry. Petroleum Microbial Biotechnology: Challenges and Prospects, p.9.
Limited, C. (2017). CSL Limited: Private Company Information - Bloomberg. [online] Bloomberg.com. Available at: https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=881503 [Accessed 13 Oct. 2017].
Popescu, C.R. and Popescu, V.A., 2015. Phases and Actions of the Evolution of the Concept of Quality in Canda and Australia-A Theoritical Modelling of the Development of Knowledge in Business Perfromance in the XXI Century-The Approach to Excellence. Manager, (21), p.18.
Verbeke, W., Bagozzi, R.P. and Belschak, F.D., 2016. The role of status and leadership style in sales contests: A natural field experiment. Journal of Business Research, 69(10), pp.4112-4120.
Wilson, G.A., Perepelkin, J., Di Zhang, D. and Vachon, M.A., 2014. Market orientation, alliance orientation, and business performance in the biotechnology industry. Journal of Commercial Biotechnology, 20(2).
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