a. Identify the organization for which you would like to complete or are considering completing a strategic plan. You may focus this study on a specific department, group, division, or function, within the organization.
b. Provide a brief background of this organization, including its products/services and customers.
c. Look for the organization's mission and vision statements. Modify or improve them to achieve as much clarity as possible.
d. How do the mission, vision, and values aid the organization in reaching its desired end state?
e. What components of the strategic management process need to be analyzed in light of the new strategy?
f. What effect will the outcomes of the new strategy have on the leadership and culture of the organization? How will the outcomes affect stakeholders?
The primary deliverable for this course is an individual strategic plan for an organization of your choosing. The plan must be YOUR plan for the organization and not an analysis of the organization's current/future plan. This course is a course in APPLICATION of the tools and methods learned throughout the MBA program. BE CREATIVE and TAKE RISKS in the development of the plan - think like a consultant and prepare to SELL your PLAN to the BOARD/LEADERSHIP.
Submit a 800 word paper in which you do the following: APA format
The strategic plan that I propose for Pfizer Inc is that its research and development process for drugs should become customer centric rather than product centric (Bund, B2005),.
The objective of the strategic plan will be to ascertain customer needs with regards to drugs, research and develop drugs that deliver value to customers, segment the market based on customer purchase actions, and charge appropriate price for these products.
The strategy of Pfizer Inc should be to research and develop drugs that address specific segments of buyers. For example, Celecoxib made by Pfizer Inc needs to be taken twice daily; there are several arthritis patients that will pay far higher prices for a tablet that needs to be taken once every week. This way the profitability of Pfizer Inc will increase. Similarly, fluconazole being made by Pfizer Inc causes rash in some patients. Pfizer Inc should develop an alternative anti-fungal drug for patients that suffer from such reactions (Griffith, W, Moore, S & Boesen, K 2006),. The result will be that Pfizer Inc will be able to charge higher prices for these drugs and make its operations more profitable.
The research and development units of Pfizer Inc should be set goals that are customer centric. The training for the research personnel and their coordination with the marketing department will take eight month's time. The research personnel will be trained to use and interpret marketing research information. Moreover, the market research personnel will be trained to study consumer actions rather than asking questions.
The training and development of research and development personnel will ...
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