Background of the Eli Lilly
Figure 1: Mapping of key stakeholders in terms of power/interest.
By applying appropriate strategic management models and supportive research, what suggestions could you make to Eli Lilly’s Senior Management team to support their position in achieving sustainable competitive advantage in the pharmaceutical industry?
Strategic management is a vital element in business to gain the success and achieve the competitive advantage in a planned period of time. That is why every organization tries to make their strategy success winning no matter whether it is what type of business. So, for Eli Lilly, this strategic management will also be an essential element for its expected success. However, Eli Lilly is a pharmaceutical industry which is research oriented and willing to recreate the drug discovery for the 21st century. For that reason, Eli Lilly needs to focus on the several issues of the strategic management like vision, mission, stakeholders, trends and uncertainties as well as resources and capabilities for creating the appropriate strategic models to ensure the competitive advantage.
Eli Lily is one of the largest pharmaceutical companies in the world though it is the American origin company. Its head-quarter is in Indianapolis, Indiana, in the USA. However, it has its offices in more than 17 countries. Its products are sold in about 125 countries. Eli Lilly was founded by Col. Eli Lilly, a pharmaceutical chemist and veteran of the American civil war, in the year of 1876 (Infopedia, 2017). Its current chairman and CEO is the Dave Ricks. Its revenue is 21.221 billion US dollar by the income year of 2016. Eli Lilly was the first company which started to produce the mass penicillin, Salk Polio vaccine, and insulin. Some of its well-known medications are namely Prozac (Fluoxetine), Dolophine (Methadone), Cymbalta (Duloxetine) and Zyprexa (Olanzapine).