Swot Analysis in Pharmaceutical Industry - 5127 Words

History of SWOT In the 1960’s and 70’s, Albert Humphrey is said to have developed this strategic planning tool using data from the top companies in America at the time. A SWOT Analysis looks at the strengths, weaknesses, opportunities and threats that are relevant to an organization in a new venture. A SWOT Analysis is a tool which allows users to look at the direction a company or organization may wish to move towards in the future. A SWOT Analysis is a useful tool, which in conjunction with others can help make informed decisions. Definition of SWOT Many people see SWOT as synonymous with strategic planning. In fact, a SWOT analysis is only one of many tools that can be used in an organization’s strategic planning process. SWOT†¦show more content†¦Ã¢â‚¬ ¢ Consider bringing in sympathetic outsiders who know your business and market (eg customers and suppliers). †¢ Many businesses find a consultant most useful for their first SWOT analysis. 1.2 Brainstorm the issues. Ask everyone to identify any strengths or weaknesses they feel the business has, and any opportunities or threats they think the business faces. †¢ Encourage participants to make suggestions without trying to judge how important the issue is. †¢ Concentrate especially on identifying weaknesses and threats. †¢ Be aware that lack of honesty is a common problem. For example, most people find it easier to identify strengths and opportunities, particularly if the performance of key people (including yourself) is one of the weaknesses. †¢ You may want to use checklists to prompt further suggestions †¢ Organize related ideas into groups. Recording suggestions on Post-it notes or cards that can be moved around and rearranged makes this easy. 1.3 Evaluate the significance of the issues that have been identified. To help you, use relevant data from your own and similar businesses. †¢ Update your conclusions from any previous SWOT analysis. For example, a strength may no longer exist (e.g. if last year’s cutting edge product is now obsolete). †¢ Assess whether your strengths (or weaknesses) give your business a significant competitive advantage (or disadvantage). For example, yourShow MoreRelatedAnalysis And Evaluation Of The Business And Financial Performance Of An Organization1365 Words   |  6 Pagesand how to work on project. Reason for choosing this topic I glanced at information pack from OBU and in that they offered wide variety of topics to choose from evaluation and analysis of organisation to critical review of key factors affecting organisation or brands. But topic no. 8 made most sense to me which is â€Å"Analysis and evaluation of the business and financial performance of an organisation over a three year period†. Reason is my incline towards handling financial data and number crunchingRead MoreSwot Analysis : Pfizerswot1262 Words   |  6 Pages 3. ANALYSIS The report will now apply the concepts discussed in the previous section to the specific case of Pfizer. The analysis will help to determine whether this company has achieved a competitive advantage. 3.1. SWOT analysis Pfizer’ SWOT analysis is summarized in two tables. Table 1 focuses on the external analysis. Table 2 is devoted to the internal analysis. Table 1 Pfizer’ external analysis Opportunities Threats Industry environment: - Threat of entry: The threat of entry is low becauseRead MoreNew Pharmaceuticals Environmental Analysis : Crossroads Pharmaceuticals942 Words   |  4 PagesQuintessential Pharmaceuticals Environmental Analysis As a wholesale supplier of organic and specialty drugs, Quintessential Pharmaceuticals Suppliers desires to be a vital supplier for CVS Health Corporation, which provides help to millions daily on their path to a healthy life. 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A business must know what it is good at to be able to effectively have a competitive advantage over other businesses within that industry. The profitability of Mylan Pharmaceuticals largely depends on their ability to discover and market new drugs. The desire to cure illness and disease is what demands pharmaceutical companies li ke Mylan to be empoweredRead MoreBlackmores Business Analysis Essay1260 Words   |  6 PagesBusiness Analysis on, Blackmores Ltd Table of content Introduction 2 Strategic business units 3 Internal Environment 4 External environment 6 SWOT analysis 6 References 7 Introduction Blackmores Limited is an industry leader in both natural health and research, basing its principle activity on the development and marketing of health productsRead MoreManagement Report on Square Pharmaceuticals Ltd1736 Words   |  7 Pagesof some manager of Square Pharmaceuticals Ltd. 1.4 Methodology †¢ The entire report was dependent solely on secondary data, taken from the annual report of Square Pharmaceuticals Ltd. and books. †¢ Some primary data were obtained by interview. 1.5 Limitations The limitations to produce this report are as follows:- †¢ The accuracy of the report depends upon the accuracy of the information furnished by our text book and from annual report of Square Pharmaceuticals Ltd. as well. †¢ InadequateRead MoreCvs Sets High Standards For Csr Policies944 Words   |  4 Pagesstakeholders, the regulatory compliance and standards will be met†(CVS, CSR). SWOT Analysis – External Environment Economic Trends Opportunities: The pharmaceutical industry continues to be a major driver of trend. While demand for medicine rapidly increases in emerging economies, a growing number of consumers are also analyzing the economic performance of different medicines. These events will heighten the challenges the industry faces, while also creating major opportunities within the organization.Read MoreStrategic Analysis Of Glaxosmithkline s Foreign Market Expansion And International Operations Essay1138 Words   |  5 PagesThis is a strategic analysis of GlaxoSmithKline that examines the key factors that influence the company and its activities. The strategic analysis will examine key factors in the company’s internal and external environment and their influence on the company’s strategies. GlaxoSmithKline is a global healthcare company that offers pharmaceutical, vaccines and consumer products. The company is a product of various mergers, the latest occurring in 2001 between GlaxoWellcome and SmithKlin e Beecham. TheRead MoreSanofi Aventis Swot Analysis1750 Words   |  7 Pages4 3. Sanofi Business Environment 4 3.1. Political Factors 4 3.2. Economic Factors 5 3.3. Social Factors 7 3.4. Technological Factors 7 3.5. Environmental Factors 8 3.6. Legal Factors†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦8 4. SWOT ANALYSIS†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦9 5.Strategy 9 6. Recommendations 9 7. References 10 Executive summary To conceive a business we must first of all understand its environment which depends on factors that are used in the PESTEL