General Economic Environment and Specific Industry in Which Pfizer Inc

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Write a 1,000-word (minimum) paper in which you identify and analyze the most important trends from the general economic environment and the specific industry in which Pfizer, Inc. competes.

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Company: Pfizer, Inc. Write a 1,000-word (minimum) paper in which you identify and analyze the most important trends from the general economic environment and the specific industry in which Pfizer, Inc. competes. A complete company and competitor assessment are your goals using the internal and external assessment techniques covered in Chapters 3, 4 and 5. As a guide use the following: Answer the 7 questions used to assess the company you have chosen to research industry and competive environment.. Thinking strategically about a company’s industry and competitive environment entails using some well-validated concepts and analytical tools to get clear answers to seven questions: 1. Do macro-environmental factors and industry characteristics offer sellers opportunities for growth and attractive profits? 2. What kinds of competitive forces are industry members facing, and how strong is each force? 3. What forces are driving industry change, and what impact will these changes have on competitive intensity and industry profitability? 4. What market positions do industry rivals occupy—who is strongly positioned and who is not? 5. What strategic moves are rivals likely to make next? 6. What are the key factors of competitive success? 7. Does the industry outlook offer good prospects for profitability? 8. Evaluate the company’s resources, capabilities, and competitiveness. Be sure to include a competitive strength assessment as illustrated (see below). 1. 2. 3. 4. How Well Is the Company’s Strategy Working? What Are the Company’s Competitively Important Resources and Capabilities? Are the Company’s Cost Structure and Customer Value Proposition Competitive? What Is the Company’s Competitive Strength Relative to Key Rivals? Be sure to include a competitive strength assessment as illustrated (see below). ABC CO. Key Success Factor/Strength Measure Importanc e Weight Strengt h Rating Quality/product performance 0.10 Reputation/image RIVAL 1 Scor e Strengt h Rating 8 0.80 0.10 8 Manufacturing capability 0.10 Technological skills RIVAL 2 Scor e Strengt h Rating 5 0.50 0.80 7 2 0.20 0.05 10 Dealer network/distributi on capability 0.05 New product innovation capability RIVAL 3 Scor e Strengt h Rating 10 1.00 0.70 10 10 1.00 0.50 1 9 0.45 0.05 9 Financial resources 0.10 Relative cost position Customer service capabilities RIVAL 4 Scor e Strengt h Rating Scor e 1 0.10 6 0.60 1.00 1 0.10 6 0.60 4 0.40 5 0.50 1 0.10 0.05 7 0.35 3 0.15 8 0.40 4 0.20 10 0.50 5 0.25 1 0.05 0.45 4 0.20 10 0.50 5 0.25 1 0.05 5 0.50 10 1.00 7 0.70 3 0.30 1 0.10 0.30 5 1.50 10 3.00 3 0.90 1 0.30 4 1.20 0.15 5 0.75 7 1.05 10 1.50 1 0.15 4 0.60 Sum of importance weights Weighted overall strength rating 1.00 5.95 7.70 6.85 2.10 3.70 TABLE 4.3 ILLUSTRATION OF A COMPETITIVE STRENGTH ASSESSMENT Please detail what the specific strategy Pfizer Inc. is using to compete in its industry. Key Points: Take the following into consideration as your do your research; External Environment • Political/Legal • Global • Economic • Technological • Physical • Sociocultural • Environmental • Demographic Competitor Environment Industry Environment. Evaluating a Company’s Resources, Capabilities, and Competitiveness pages • Resources • Capabilities • Core Competencies • Value provided to customers (Who, What, How) • Value Chain Analysis
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Running head: GENERAL ECONOMIC ENVIRONMENT AND SPECIFIC INDUSTRY 1

Identification and analyzation of the most important trends from the general economic
environment and the specific industry in which Pfizer, Inc. competes.
Student’s Name
Institutional Affiliation

GENERAL ECONOMIC ENVIRONMENT AND SPECIFIC INDUSTRY

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Introduction
Pfizer, Inc. is a pharmaceutical company which was founded in 1894 by Charles Pfizer
and Charles Erhart. The company is dedicated to developing and discovering novel and most
effective ways in the treatment of diseases and improvement of human health. The recovery
of the company from aftermath after the significant economic recession, Pfizer is obliged to
take stringent actions to enhance its presence in the market, increase its review as well as
outcompete its stiff market competitors. Nevertheless, this is not that easy as there exist typical
underlying challenges. Competition is very tough, the regulatory bodies in contemporary
society are becoming more stringent and there exists a range of unsuccessful researches. This
undeniably showcases that Pfizer is obliged to formulate and implement ideal strategies to
combat these challenges. This paper primarily seeks to identify and analyse the most critical
trends from the general through the specific industry that Pfizer, Inc. competes.
Pfizer, Inc. External environment
In identifying and analyzing the external environment there is the need to employ the
use of the PESTLE analysis. The pestle analysis is primarily a framework or a tool that is used
to analyse the macro-environment of a firm. PESTLE stands for Political, Economic, social,
technological, legal and environmental factors.
Political factors impacting Pfizer Inc.
Since the firm operates in different countries, it is often faced with changing policies
with new governments. Difficulty experienced on time scale and government resource
allocation. Political instability in the existing market and armed conflicts are some of the
political constraints being experienced by the company.
Economic factors

GENERAL ECONOMIC ENVIRONMENT AND SPECIFIC INDUSTRY

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The intervention of the government in strategy and execution sector often impacts
Pfizer and its competitor’s fortunes. Inflation rates. For instance easy liquidity within the
market past the recession of 2018 which is anticipated to increase inflations in the markets of
the firm which will ultimately impact the consumers. Exchange rates, as well as the availability
of core infrastructure, consequently presents a significant problem.
Social Factors
The major social factors influencing the firm include education level, power structure,
leisure interests as well as the public opinion in which the media plays a significant role in
shaping and influencing it. Gender difference as in conjunction with the societal norms and
hierarchy consequently influences
Technological Factors
Several technological factors influence the operation of Pfizer Inc. This includes the
maturity of the technology. Empowerment of the supply chain partners, current and updated
technology based on innovations by Pfizer competitors. Development and the dissemination of
mobile technology which seems to have transformed the expectations of the customers among
other aspects.
Environmental factors
These include customer activism, the management of waste particularly for units which
are closer to the urban cities which showcase to have taken an increasing significantly for the
players like Pfizer Inc. environmental norms that are changing the production priorities of the
product innovation. Prevalence of renewal ...