Explain how innovation impacts the four functions of management (planning, organizing, leading, and controlling)for the company, Pfizer (http://pfizer.com/home/). Be sure to include specific examples for each and provide references.
Management is a universal concept since its principles and techniques are used all over the world, irrespective of their level of development (Bateman & Snell, 2003). The basic objective of the management is the progress of people and not the direction of things. The conservative explanation of management is getting work done through its people, but the real management refers to the development of people through work (Luthans, 1998). The four function of management are planning, organizing, leading, and controlling. These functions are highly affected by the external and internal environment of the business industries (Bateman & Snell, 2003). With the help of this report the readers would be able to understand the impact of innovation of the four functions of Pfizer Inc.
Pfizer is the world's largest pharmaceutical company. Its corporate headquarters are situated in New York. Its major research and development locations are situated in the United States and England (Pfizer: About Us, 2009). It is the innovation, which outlines the strategies and policies of the company. It has appointed managers for the overall organization development and learning strategies.
Impact of Innovation on the Four Functions of Pfizer
Innovative systems and processes need proper planning and organizing. The requirements of the innovative ...
How innovations impact the four functions of management for Pfizers are examined.