Introduction to Group

Group Name: Group “C”

Group leader:

Group members:

“EXECUTIVE SUMMARY”

Project Name: Pfizer Pharmaceutical

Logo:

Location: 12 Dockyard road west wharf, Karachi

Features: Provide best quality medicines and health to the patients. And provide support to welfare departments.

Competition: Abbot, GSK , Bayer; Merck & Co., Inc.; Novartis, Sanofi Aventis.

“INTRODUCTION”

As the world’s leading research-based pharmaceutical company, Pfizer discovers, develops, manufactures, and markets leading prescription medicines for humans and animals and many of the world's best-known consumer healthcare brands.

Our innovative, value-added products improve the quality of life of people around the world and help them enjoy longer, healthier, and more productive lives with a corporate slogan of "Working together for a healthier world", we strive to bring greater happiness, health and enrichment to the lives of people everywhere.

Pfizer is the company behind well-known consumer products such as Listerine, Rolaids, Sudafed, and

Visine, but the company's greatest revenue producers are its prescription drugs. Pfizer's marquee pharmaceuticals include, Zoloft, an antidepressant, and Lipitor, a cholesterol-lowering pharmaceutical that is the bestselling drug in the world. Pfizer's products are marketed in more than 150 countries.

“HISTORY OF Pfizer”

In 1849 Charles Pfizer, a chemist, and Charles Erhart, a confectioner, began a partnership in Brooklyn to manufacture bulk chemicals, Charles Pfizer & Company. While producing iodine preparation and boric and tartaric acids, Pfizer pioneered the production of citric acid, a product Pfizer continues to market to soft drink companies, using large-scale fermentation technology. By the end of the 19th century, Pfizer was producing a wide range of industrial and pharmacological products and had offices in New York

and Chicago. In 1900 the company was incorporated in New Jersey as Charles Pfizer & Company Inc.

While Pfizer technicians became experts in fermentation technology, across the ocean Sir Alexander Fleming made his historic discovery of penicillin in 1928. Recognizing penicillin's potential to revolutionize healthcare, scientists struggled for years to produce both a high quality and large quantity of the drug. Experimentation with production became an imperative during the Nazi air raids of London in World War II. In a desperate attempt to solicit help from the community of American scientists, Dr. Howard Florey of Oxford University traveled to the United States to ask the U.S. government to mobilize its scientific resources.

Because of its expertise in fermentation, the government approached Pfizer. Soon afterward, Dr. Jasper Kane from the company laboratory began his own experiments. Initially using large glass flasks, Dr. Kane's experimentation then led to deep-tank fermentation. Later, the company announced its entrance into large-scale production with the purchase of an old ice plant in Brooklyn. Refusing government money, the company paid the entire $3 million for the purchase and within four months John McKeen (future chairperson and president) had converted the ancient plant into the largest facility for manufacturing penicillin in the world.

Early production, however, was not without its difficulties. The first yields of penicillin required constant supervision, and yet quality and quantity remained low and inconsistent. In one of those inexplicable quirks of history, however, a government researcher browsing in a fruit market in Peoria, Illinois, discovered a variant of the "Penicillium" mold on an overripe cantaloupe. Using this variant, production suddenly increased from ten units per millimeter to 2,000 units per millimeter. By 1942 Pfizer divided the first flask of penicillin into vials for the medical departments of the Army and Navy; this flask was valued at $150,000. Mass production began in

1944, when Pfizer penicillin arrived with the Allied forces on the beaches of Normandy on D-Day. Meantime, in June 1942, Pfizer reincorporated in Delaware and went public with an offering of 240,000 shares of common stock.

Even as the government controlled production of the drug for the sole use of the Armed Forces, the public, aroused by miraculous results of penicillin, asked Pfizer to release the drug domestically. In 1943 John L. Smith, Pfizer president, and John McKeen, against the explicit regulations of the federal government, supplied penicillin to a doctor at the Brooklyn Jewish Hospital. Dr. Leo Lowe administered what was thought of as massive dosages of penicillin to several patients and cured, among others, a child suffering from an acute bacterial infection and a paralyzed and comatose woman. Smith and McKeen, visiting the hospital on Saturdays and Sundays, were witness to penicillin's curative effects on the patients.

“Pfizer CORE VALUES”

Pfizer's nine core values form the solid foundation on which our employees base all individual

activities.

Pfizer corporate activities are based on specific goals and mission objectives. To fulfill these aims, nine core values serve as guidelines for action and apply to all employees. We believe that commitment to these values is the key to our growth. This is why the company provides employees with many opportunities for in-depth understanding of our guidelines and encourages compliance with such policies on a daily basis. Pfizer personnel around the world can therefore be expected to show full appreciation of these objectives, as they strive to transform aims into actions.

1. Integrity:

We demand of ourselves and others the highest ethical standards, and our products and processes will be of the highest quality.

2. Respect for people:

We recognize that people are the cornerstone of Pfizer's success, we value our diversity as a source of strength, and we are proud of Pfizer's history of treating employees with respect and dignity.

3. Customer focus:

We are deeply committed to meeting the needs of our customers, and we constantly focus on customer satisfaction.

4. Community:

We play an active role in making every country and community in which we operate a better place to live and work, knowing that the ongoing vitality of our host nations and local communities has a direct impact on the long-term health of our business.

5. Innovation:

Innovation is the key to improving health and sustaining Pfizer's growth and profitability.

6. Collaboration:

We know that to be a successful company we must work together, frequently transcending organizational and geographic boundaries to meet the changing needs of our customers.

7. Performance:

We strive for continuous improvement in our performance, measuring results carefully, and

ensuring that integrity and respect for people are never compromised.

8. Leadership:

We believe that leaders empower those around them by sharing knowledge and rewarding outstanding individual effort. We are dedicated to providing opportunities for leadership at all levels in our organization.

9. Quality:

Quality is ingrained in the work of our colleagues and all our Values. We are dedicated to the delivery of quality healthcare around the world. Our business practices and processes are designed to achieve quality results that exceed the expectations of patients, customers, colleagues, investors, business partners and regulators.

“ORGANIZATIOANL CHART OF Pfizer”

“ BRANCH LEVEL ORGNIZATIONAL CHART ”

Country Manager

Director Human Resources

Director Marketing Medical Director

Director of Legal Affairs

Finance Director

“MANAGEMENT”

Definition of Management:

According to Terry & Franklin

MANAGER

HRM department

Marketing Department

Finance Department

Sales Department

IT & Computer Department

“Management is a distinct process consisting of the activities of planning, organizing, leading and controlling to perform determined and accomplish stated objectives with the use of human beings and others.”

“OBSERVATION ABOUT MANAGEMENT”

There are around 600 employees are working in Pfizer.

The best source of their earnings is their best quality products.

In Pfizer Company communication can flow downward, upward and laterally.

The training which can enhance the skills of an employee is necessary for them.

Pfizer is a very caring company and cares its employees in all aspects. It gives justified awards and rewards to motivate its employees, gives promotion, incentives, allowances and foreign tours to its employees when it achieved its annual targets. The awards which Pfizer give to its employees are FFRP (Field Force Recognition Program Award) which is given to the highest achiever on national level and province level, Product champion award, Regional Champion award, Best district field manager award and special president award is given to top three achievers through out the country. They visit head office which is in New York.

In an employee both ability and motivation is important but motivation is necessary because it enhance ability.

At Pfizer they give very friendly and cooperative environments to their employees.

Handsome salary packages are offered by the company and employees are satisfied with their salary packages.

There are supervisor in each level of management who is known as DFM (District Field Manager). A DFM is selected by assessment test and than final interview by the management. The role of DFM is to achieve organizational goals. According to them a supervisor should possess qualities such as he should be a good listener, friendly, understanding, cooperative and problem solver so that he/she can influence his subordinate in a better way to achieve its organizational goals. Subordinates are happy with their supervisor and they have given very nice comments for him.

Decisions are taken by manager very quickly but first he concentrates on the issues in the organization. Each employee of Pfizer is important for it so every decision which is taken by the organization is in favor of employees. And if any of their employee give suggestions and opinions they listen to him and if these suggestions are fruitful for the organization so they take serious decisions in it.

New technologies are used. Pfizer gives PDAs, Laptops devices so that they can get comfort at work during working.

Employees from top management level are rewarded foreign training, the training related to field effectiveness programs and sales training.

The personality characteristics of an unknown person are justified by the ability of the individuals his/her knowledge, communication skills, working skills and dressing.

Their cooperate level is very strong, so every issue is answered quickly.

In any emergency Pfizer has fast network which is owned by its self so they response quickly through emailing, telephone and fax etc. If problems are related to medical so medical department deal it.

The employees of Pfizer enjoy working in a friendly atmosphere, no one force them to work.

Pfizer help its employees in their financial issues and cooperate fully.

If any employee is not serious with its work, Pfizer give him warning and after that fire him.

Controlling play a vital role in any organization and it’s a necessary part; with out it employees will work in their own way

and do not show sincerity with work. They have a very nice controlling system through which they control each employee during working. There are groups and each group has head which monitors and gives daily tasks.

They have very good control over disputes among employees as well as related to the organization.

“HRM (Human Resource Management)”

Definition of HRM:

“In any organization HRM play a vital role in an organization that is responsible for all main activities in the organization.”

“OBSERVATION ABOUT HRM (Human Resource

Management)”

Human Resource Management of Pfizer head of HR to make HR policies and change it as per the needs and requirements of the company and employees.

There are three grades, manager for staff and they are given specific salary according to their grades and all the increments and allowances must be adjusted within the grade pay slabs.

The employees get annual increment from the company along with their basic pay, company gives this increment to the employees to make the employee’s salaries equivalent to inflation condition and to give them a proposed salary. All confirmed employees passing 90 days service in the calendar year they are eligible to get the annual increment, for the employees involved in any disciplinary action or they violate any company rule the management can withheld their increment.

The company gives qualification increment to the employees to motivate them to further education. It is given on the basis of the pay scale according to their grades. For getting the qualification increment he employee must have to increase the qualification in the following discipline.

Metric Intermediate Graduation

“MERKETING MANAGEMENT”

Definition of Marketing Management:

“Marketing is a societal process by which individuals and group obtains what they need and want through creating, offering, and freely exchanging products and services of value with others.”

“OBSEVATIONS ABOUT MARKETING

MANAGEMENT”

Pfizer is committed to responsibly promoting their products. They believe that it is important to educate patients and providers about new health care treatments.

They also acknowledge stakeholders` concerns that sales and marketing

practices need to provide accurate information, and that physicians who prescribed our products not be influenced by anything other than the merits and value of the medicine being marketed.

Pfizer follows an approach to sale and marketing that starts with integrity in their business practices and compassion for those who find it difficult to afford their medicines.

They believe that the ethical conduct begins by providing employees the guidelines along with tools to understand the, and how they apply to the work that they do.

At Pfizer their sales and marketing employees must follow a number of guidelines.

All the sales and marketing employees of Pfizer are required to complete ethic training and pass a test on ethics and compliance every year. This ethic training provides accurate medical and product information so that physicians can make informed treatment decisions.

As Pfizer becomes an increasingly global company, they will also evaluate and, where appropriate, revise their sales and marketing policies to ensure that their practices in emerging markets meet the

same high standards for transparency and accuracy they have in more mature markets

They monitor the impact of changes health care systems and adjust their sales and marketing policies accordingly to ensure that principles are upheld.

“FINANCIAL MANAGEMENT”

“Definition Of Financial Management”

“Financial management entails planning for the future of a person or a business enterprise to ensure a positive cash flow. It includes the administration and maintenance of financial assets. Besides, financial management covers the process of identifying and managing risks.”

“OBSERVATION ABOUT FINANCIAL MANAGEMENT”