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Business Environment of GlaxoSmithKline (GSK) Vs AstraZeneca (AZ) : Case Study

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Added on  2020-01-23

Business Environment of GlaxoSmithKline (GSK) Vs AstraZeneca (AZ) : Case Study

   Added on 2020-01-23

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1ASSIGNMENT SUBMISSION FORMThis sheet must be submitted with your assignment. Failure to complete, sign and submit this form will result in a mark of ‘0’ for the assignment.Student NameMONICA MATEESCUStudent IDP1031330Assessor NameBALMAS MARONGQualificationPearson BTEC Level 5 HND Diploma in BUSINESS MANAGEMENTUnit Number & Unit TitleUNIT ONE BUSINESS ENVIRONMENTAssignment TitleBUSINESS ENVIRONMENTDate of Submission13.12.2016By submitting this form and signing below, I declare that:I am the author of this assignment and that any assistance I received in its preparation is fully disclosed and acknowledged in this assignmentI also certify that this assignment was prepared by me specifically for this courseI certify that I have taken all reasonable precautions to make sure that my work has not been copied by other studentsI confirm that I have understood the College’s regulations on plagiarismI confirm that research resources are fully acknowledgedSignature: MONICA MATEESCU Date: 13.12.2016Plagiarism is presenting somebody else’s work as your own. It includes: copying information directly from the Web or books without referencing the material; submitting joint coursework as an individualeffort; copying another student’s coursework; stealing coursework from another student and submitting it as your own work. Suspected plagiarism will be investigated and if found to have occurred will be dealt with according to the procedures set down by the College. Please see your student handbook for further details of what is / isn’t plagiarism.
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3Table of ContentsIntroduction................................................................................................................................3Task One....................................................................................................................................4AC 1.1 Identify purpose of GSK, Red Cross, NHS and Coop...................................................4AC1.2 Describe the extent to which GSK meets the objectives of its key stakeholders...........5AC1.3 Responsibilities and strategies GSK has towards its stakeholder...................................7AC2.2 The fiscal and monetary impact of the recession towards GSK and AZ........................8AC 2.3 UK/EU competition and regulatory policies have impacted on activities of GSK.....10AC 3.2The forces of demand and supply affects the pricing and sales decisions of GSK......11AC 3.3 (a)The business environment impacts /affect the behavior of GSK............................13AC 3.3 (b) Judge how the cultural environment determines the behavior of GSK................14AC 4.1 Discuss the significance of international trade to GSK and AZ..................................15AC 4.2 How global factors can affect GSK and AZ activities................................................17AC 4.3 The impact of European Union polices on GSK and AZ............................................19Task Two..................................................................................................................................20AC 2.1 Explain and discuss the three economic systems........................................................20Task Three................................................................................................................................21AC 3.1 Explain how prices and output decisions are determined in a perfect competitivemarket.......................................................................................................................................21Conclusion................................................................................................................................22References................................................................................................................................23
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4IntroductionThis assignment deals with the business environment of two pharmaceutical companieswhich are based in the UK namely, GlaxoSmithKline (GSK) and AstraZeneca (AZ). Thepurposes of these organizations are identified and classified from other health organizations.Factors, internal and external, affecting the business of GSK are discussed at length. It is alsostudied that the fiscal and monetary policies of the UK government along with the policies ofthe European Union have both positive and negative impacts on GSK and AZ. The last twotasks are a general study of the common market structures and economic systems in the UKand their characteristics.
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5Task OneAC 1.1 Identify purpose of GSK, Red Cross, NHS and CoopThis part of the assessment criteria is to identify the purposes of GlaxoSmithKline (GSK)National Health Service of UK (NHS), Red Cross and any Coop in UK which the author isfamiliar with.The purposes of all the organizations vary from each other because they deal in a diverserange of products. Primarily, the common objective of all the organizations is to expand thenumber of customers that would lead to an increase in the profit margin. Even the purposes ofthe health organizations vary from each other to a great extent. The motives of each of thesediffer along with the activities that are associated with each of these organizations. The factthat different organizations have varying objectives is evident from the following:GlaxoSmithKline (GSK): It is a UK based pharmaceutical organization that provides peoplewith various medicines for their diseases. This company aims to offer people with anadvanced health care service and motivate the employees to do the same (Brandon, Joines,Powell, Cruse and Kononenko, 2012). The management has opted to improve the quality ofmedicinal products which will prove to be beneficial for the health of the patients byproviding them with longer lives.National Health Service (NHS): Creating awareness among people regarding different typesof diseases is one of the primary objectives of NHS. Based in UK, it provides health relatedservices in UK as well as in other parts of the world. It also motivates the staff to improve thehealthcare services that they offer to individuals.Red Cross: Red Cross was initially formed to offer services to the wounded in wars andbattles. It later expanded to provide help to the people suffering from natural disasters. Thisorganization also engages itself in social care by helping people who are in need of blood.Red Cross does no aim to gain money from the services it offers to communities andindividuals and a lot of people act as volunteers (Lindsay, 2011).The Co-operative Bank PLC: This bank in UK aims to provide financial help tocooperatives by following ethical and legal values. It tries to bring about a positive change inthe lives of individuals. This bank is a retail and commercial bank which is based at theUnited Kingdom. The bank headquarter could be found situated at Balloon Street,Manchester. The bank considers itself to be an ethical bank. It seeks to completely shun form
Business Environment of GlaxoSmithKline (GSK) Vs AstraZeneca (AZ) : Case Study_5
6investing in companies which are involved in various unethical trade practices such as thearms trade, fossil fuel extraction, illegal genetic modification engineering, conductingchemical tests on animal and the utilization of the sweated labor as. The ethical policy wasintroduced in 1992. The bank had incorporated the policies in the constitution during 2013. In2002, the parent company of the bank, The Co-operative Group Limited, had brought thisbank along with the Co-operative Insurance Society under the holding organization of Co-operative Financial Services, which became the Co-operative Banking Group in2011(Prajogo, 2016, p.245).AC1.2 Describe the extent to which GSK meets the objectives of its key stakeholders.Stakeholders are people who are associated with an organization in some way or the other.They can be divided into two categories, namely, internal and external stakeholders. Theinternal stakeholders comprise of managers, investors, employees, etc. and the externalstakeholders consist of suppliers, government, customers and so on. These stakeholders havecertain expectations from the organization because of which the management follows variouspolicies in order to meet them which holds true for GSK as well:Employees: If the employees were not present, then it would not have been possible for theorganization to work for the welfare of the common people. In order to retain the employees,the management of GSK provides them with increments and other financial benefits. Theemployees consider the financial hikes as rewards for their performances.Consumers: No organization would have existed in the absence of customers. It is theprimary duty of a healthcare organization like GSK to meet the requirements of the customersby providing them with superior quality services (Epstein and Buhovac, 2014). Themedicines should be such that they help the customers to lead healthy lives. The researchersmeet the patients individually for gaining proper knowledge about their diseases. Suppliers: The suppliers are responsible for supplying raw materials to GSK. Themanagement of GSK gives its suppliers proper payments so that the trustworthy suppliers donot quit working for the organization. The company also organizes audits for the suppliers sothat they can work on the same line and towards the same objectives.
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