Document on Strategic Management Plan

Added on - 26 Sep 2019

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Running Head: STRATEGIC MANAGEMENT PLANSTRATEGIC MANAGEMENT PLAN[Document subtitle]
STRATEGIC MANAGEMENT PLAN1Executive SummaryIt has been observed that the various organizations are using advanced technologies in order todevelop creative and innovative products in order to satisfy the customers. As the organizationsare moving forward in the 21stcentury, it is very important for them to have a sustainablecompetitive advantage with the maximization of its overall market value to survive in thecompetitive world. Further, the organization of Ireland has been taken which belongs to thepharmaceutical and biotech sector of Ireland in order to understand that how the company needsto change according to the change in environment and how the company will be able to gainsustainable competitive advantage from the temporary competitive edge.
STRATEGIC MANAGEMENT PLAN2ContentsIntroduction.................................................................................................................................................3Situation Analysis........................................................................................................................................3Internal Analysis....................................................................................................................................3Management Tool: VRIO Framework.............................................................................................3External Analysis...................................................................................................................................6Management Tool: Porter’s Five Forces..........................................................................................6SWOT Analysis......................................................................................................................................7Strategic Alternatives..................................................................................................................................8Corporate Strategy................................................................................................................................8Management Tool: Ansoff Matrix....................................................................................................8Business Strategy...................................................................................................................................9Management tool: Porter’s Generic Competitive Strategies........................................................10Conclusion.................................................................................................................................................11REFERENCES..............................................................................................................................................12
STRATEGIC MANAGEMENT PLAN3IntroductionThe company which has been taken isÉlan Corporation Plc from the pharmaceutical andbiotechnology sector of Ireland. The company was established in 1969. Élan focuses on buildingits experience and research in the field of neuropathology like a disease of Alzheimer. Theefforts of the company include the various programs which focuses on the inhibitors of smallmolecules of gamma and beta secretase, the enzymes whose action may impact the accumulationof the plaques of amyloid which is found in the patient’s brain along with the disease ofAlzheimer. The company is also focusing on the disease of neurodegenerative like the disease ofParkinson. Élan Corporation Plc studies the trafficking of cells in order to unfold the ways whichwill offer disease-transforming therapies for the disease of autoimmune such as disease of theinflammatory bowel, multiple sclerosis, and rheumatoid arthritis.In 1990, the value of the company on the stock exchange of Ireland reached to around € 20billion. But, in 2002 the scandal of accounting and the reaction of the investors to the globalrecession, caused a devaluation which resulted in a recession in share price over 90 percent. In2010, the company was fined $203 million in order to market epilepsy drugs("QualityAffordable Healthcare Products | Perrigo Company," 2016). Further, the situation analysis of thecompany is given to understand the competitive advantage and the impact of externalenvironment with the help of management tools. The strategic alternatives are also given whichis being developed by corporate and business strategy with the help of management tools.Therefore, the company will be able to sustain in the competitive environment and will be able togain the competitive edge by achieving business value.Situation AnalysisInternal AnalysisThe internal analysis ofÉlan Corporation Plc will be done with the help of VRIO framework inorder to identify the competitive advantage of the company like what competencies and thecapabilities the company possesses.Management Tool: VRIO FrameworkValue-
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