Loading

Strategic Management Analysis

Harvard, 2500 Words

Table of Contents

Introduction

Background of the Eli Lilly

Section 1

  1. 1.2: Identify Eli Lilly key stakeholders and map these stakeholders in terms of the power/interest grid. Discuss why it is important to manage key stakeholders and what consequences would be for Eli Lilly of not doing so.

Figure 1: Mapping of key stakeholders in terms of power/interest.

Section 2

  1. 2.1: Describe and analyse some of the key trends and uncertainties facing the pharmaceutical industry over the following 10 years. Build on this analysis to generate two possible scenarios for Eli Lilly, what implications are there for Eli Lilly’s strategy?

Section 3

  1. 3.2: Evaluate Eli Lilly’s resources and capabilities by utilizing the value chain framework. How is the company creating value? Discuss how could the company develop and improve further in respect to this?

Section 4

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?

Conclusion

References

 

Introduction

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.

Background of the Eli Lilly

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).