Understanding the Business and Economic Environment of the Pharmaceutical Industry: A Case Study of GlaxoSmithKline (GSK)

Understanding of the
Business and
Economic
Environment

Table of Contents
INTRODUCTION.........................................................................................................................3
The elucidation of the structure of the manufacturing industry..................................................3
The explication of the nature of GSK in regards to the industry.................................................4
The utilisation of STEEPLE for the external business analysis of GSK.....................................5
Examination of the challenges and the problems in respect to the external factors on the
relative parties of GSK................................................................................................................6
CONCLUSION..............................................................................................................................7
REFERENCES..............................................................................................................................8

INTRODUCTION
The terminology "economic environment" alludes to all the outside economic factors that
influence how individuals and companies place orders and, as a result, how well a company
succeeds. These factors, which might be small-scale (micro) or large-scale (macro), are
frequently outside a company's control (micro). The economy is important because it reflects
how secure people feel in their surroundings. A strong economy helps firms expand, people find
more employment opportunities, and customers spend more money (Chowdhury and et. al.,
2022). According to the UK Standard Industrial Classification, the objective of this study is to
explain the structure, nature, and key significance of the selected industry (SIC 2007). The UK
manufacturing sector with reference to the pharmaceutical industry has been chosen for
clarification. GlaxoSmithKilne PLC, usually known as GSK, is a multinational pharmaceutical
and biotechnology business with its headquarters in London, England. It was founded in 2000 as
a result of the amalgamation of Glaxo Wellcome and SmithKline Beecham.
MAIN BODY
The elucidation of the structure of the manufacturing industry.
A company's organisational structure describes the connections between its resources.
Although it begins with people, it also consists of objects like tools, money, and information.
Manufacturing companies often organise their resources using traditional systems. Businesses in
this field typically always employ departmentalization so that related tasks can be grouped
together. The organisation of tasks and responsibilities within a company is described by its
organisational structure for manufacturing (Di Maria, De Marchi and Galeazzo, 2022). The
structure will differ depending on the size, scope, and nature of the company's products. They
expand production in the pharmaceutical industry and work with brokers to distribute the drug
through a variety of channels (direct-to-consumer or concluded with the supply channels such as
dispensaries and infirmaries). Thus, an illustrated description of GSK's organisational structure is
possible.