Pfizer: Strategy, Enterprise and Innovation - A Case Study Report

Strategy ,Enterprise and
Innovation

TABLE OF CONTENT
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
Identify and evaluate the key drivers of innovation contributing to the success of Pfizer..........3
Critically analyse the different approaches undertaken by Pfizer to help shape its
entrepreneurial vision and business model..................................................................................7
“Blue Ocean Strategy” and tools like strategy canvas and value curves to compare Pfizer and
its competitor advantage..............................................................................................................9
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................13

INTRODUCTION
Pfizer is a company founded by two cousins Charlie Pfizer and Charles F. Erhart in 1849.
It is a company based on the biopharmaceutical company which has the work on research based.
Headquarter in New york. They are the leading company in science and global resource. Their
main objective is to provide premier high quality medicines and therapies to the people that helps
in improve their life through discovery, development and manufacturing medicines and vaccines.
They played an important role at the time of Covid- 19 global pandemic. Pfizer have never
compromised in their quality, standards, customer values and safety. They are one of the
companies who invented the Covid-19 vaccines. There are core areas where Pfizer focus further
will discuss in report. On report below using appropriate strategy and tools will identify some
key drivers of innovation which helped Pfizer towards success. Then are going to analyse the
different approaches which are undertaken by Pfizer which helps it in different ways to extend
the entrepreneurial vision and business models. Importance and negative points of “Blue ocean
strategy” and tools like buyer's experience cycle, strategy canvas and value chain, how Pfizer
face its competitors and what are the success factors.
MAIN BODY
Identify and evaluate the key drivers of innovation contributing to the success of Pfizer
Pfizer Inc. is one of the biggest American pharmaceutical and Biotechnology Company whose
headquarter is in New York City .this multinational company produces medicines for
immunology, oncology, cardiology, endocrinology and the last one is neurology. Innovation in
pharmaceutical industry is very important because it creates value to the customer by providing
best medicines for their recover with zero side effects .similarly the aim of Pfizer is to become
world’s most successful and valued company to their customers, investors and colleagues . For

the success of the Pfizer the company contributes to the value creation which is a substitute of
differentiation. The term differentiation allows the company to increase the cost of the product
and also increase the customer apparent value. Differentiation requires good quality medicines
with proper research and development which help the patient to recover easily without having
bad side-effects (Kratochvil, and Nell, 2019). For example in 2018 Pfizer spend almost eight
billion dollars for research and development of drugs or medicines. The business strategy used
by Pfizer for contributing to the success is termed as broad differentiation.it helps the company
to provide a large market by creating their value as well by differentiation. Pfizer chooses broad
differentiation strategy which means this company do not target only one segment. Rather than
this the company’s target market can be identified as the individuals who are in need of
medicines produced by the company. There are many innovations done by Pfizer for making the
company more successful. Some of them are as follows:
1. Biosimilars-
Pfizer is one of the most innovative pharmaceutical company, the company is in high
demand of producing, manufacturing and delivering good quality medicines to the customers
or patient’s .Biosimilars help the customers to increase their access to treatment and can
provide better health care system.it has almost ten years of experience in developing
biosimilars. This have the quality of providing better treatment with less cost and this
medicine is produced from living organism. The innovation of biosimilar shows that the
company is committed to scientific innovation and also provide a sense of urgency for
patients and this shows that how the company is taking innovative for the better health of
patients (Lipp, Marshall, and Dencik, 2021).
2. Oncology-
This innovation is used by Pfizer for the treatment of cancer.it provides a natural ability to
the body immune’s system to identify and fight with cancer. The company provide a support
to the patients suffering from cancer by organizing some programs like Pfizer oncology
together for providing therapies to the patients and also this is living with cancer which
helps the patients in providing tools for the treatment of cancer.
3. Clinical trials-