Pfizer: Global Protection of Intellectual Property SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
Global Business
Strategy / MBA Resources
Case Study SWOT Analysis Solution
Case Study Description of Pfizer: Global Protection of Intellectual Property
Top officials at Pfizer are assessing their strategy for improving protection of Pfizer's patents around the world. The outcome of the Uruguay Round of the GATT negotiations is uncertain, and it is not clear whether an acceptable intellectual property protection agreement will emerge. The case describes how Pfizer helped transform intellectual property from a lawyer's specialty to an international trade issue of concern around the world through close cooperation with the U.S. government, leadership in forming a tripartite coalition among U.S., Japanese, and European industry, and mobilization of the Pfizer organization. Shows how far a company may go to protect its intellectual property in a world where the concept of intellectual property is not universally recognized or accepted. May also be used to discuss the effectiveness and legitimacy of Pfizer's strategy, the conflicts between industrialized country and developing country perspectives on international trade and national sovereignty, and the question of appropriate norms of intellectual property protection.
Swot Analysis of "Pfizer: Global Protection of Intellectual Property" written by Lynn Sharp Paine, Michael A. Santoro includes – strengths weakness that are internal strategic factors of the organization, and opportunities and threats that Intellectual Pfizer facing as an external strategic factors. Some of the topics covered in Pfizer: Global Protection of Intellectual Property case study are - Strategic Management Strategies, Intellectual property, Joint ventures, Negotiations, Policy and Global Business.
Some of the macro environment factors that can be used to understand the Pfizer: Global Protection of Intellectual Property casestudy better are - – banking and financial system is disrupted by Bitcoin and other crypto currencies, there is increasing trade war between United States & China, competitive advantages are harder to sustain because of technology dispersion, customer relationship management is fast transforming because of increasing concerns over data privacy, increasing inequality as vast percentage of new income is going to the top 1%, there is backlash against globalization, increasing energy prices,
wage bills are increasing, increasing household debt because of falling income levels, etc
Introduction to SWOT Analysis of Pfizer: Global Protection of Intellectual Property
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University , we believe that protagonist in Pfizer: Global Protection of Intellectual Property case study can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Intellectual Pfizer, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Intellectual Pfizer operates in.
According to Harvard Business Review, 75% of the managers use SWOT analysis for various purposes such as – evaluating current scenario, strategic planning, new venture feasibility, personal growth goals, new market entry, Go To market strategies, portfolio management and strategic trade-off assessment, organizational restructuring, etc.
SWOT Objectives / Importance of SWOT Analysis and SWOT Matrix
SWOT analysis of Pfizer: Global Protection of Intellectual Property can be done for the following purposes –
1. Strategic planning using facts provided in Pfizer: Global Protection of Intellectual Property case study
2. Improving business portfolio management of Intellectual Pfizer
3. Assessing feasibility of the new initiative in Global Business field.
4. Making a Global Business topic specific business decision
5. Set goals for the organization
6. Organizational restructuring of Intellectual Pfizer
Strengths Pfizer: Global Protection of Intellectual Property | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of Intellectual Pfizer in Pfizer: Global Protection of Intellectual Property Harvard Business Review case study are -
High brand equity
– Intellectual Pfizer has strong brand awareness and brand recognition among both - the exiting customers and potential new customers. Strong brand equity has enabled Intellectual Pfizer to keep acquiring new customers and building profitable relationship with both the new and loyal customers.
Innovation driven organization
– Intellectual Pfizer is one of the most innovative firm in sector. Manager in Pfizer: Global Protection of Intellectual Property Harvard Business Review case study can use Clayton Christensen Disruptive Innovation strategies to further increase the scale of innovtions in the organization.
Sustainable margins compare to other players in Global Business industry
– Pfizer: Global Protection of Intellectual Property firm has clearly differentiated products in the market place. This has enabled Intellectual Pfizer to fetch slight price premium compare to the competitors in the Global Business industry. The sustainable margins have also helped Intellectual Pfizer to invest into research and development (R&D) and innovation.
Low bargaining power of suppliers
– Suppliers of Intellectual Pfizer in the sector have low bargaining power. Pfizer: Global Protection of Intellectual Property has further diversified its suppliers portfolio by building a robust supply chain across various countries. This helps Intellectual Pfizer to manage not only supply disruptions but also source products at highly competitive prices.
Highly skilled collaborators
– Intellectual Pfizer has highly efficient outsourcing and offshoring strategy. It has resulted in greater operational flexibility and bringing down the costs in highly price sensitive segment. Secondly the value chain collaborators of the firm in Pfizer: Global Protection of Intellectual Property HBR case study have helped the firm to develop new products and bring them quickly to the marketplace.
Successful track record of launching new products
– Intellectual Pfizer has launched numerous new products in last few years, keeping in mind evolving customer preferences and competitive pressures. Intellectual Pfizer has effective processes in place that helps in exploring new product needs, doing quick pilot testing, and then launching the products quickly using its extensive distribution network.
Learning organization
- Intellectual Pfizer is a learning organization. It has inculcated three key characters of learning organization in its processes and operations – exploration, creativity, and expansiveness. The work place at Intellectual Pfizer is open place that encourages instructiveness, ideation, open minded discussions, and creativity. Employees and leaders in Pfizer: Global Protection of Intellectual Property Harvard Business Review case study emphasize – knowledge, initiative, and innovation.
Operational resilience
– The operational resilience strategy in the Pfizer: Global Protection of Intellectual Property Harvard Business Review case study comprises – understanding the underlying the factors in the industry, building diversified operations across different geographies so that disruption in one part of the world doesn’t impact the overall performance of the firm, and integrating the various business operations and processes through its digital transformation drive.
Diverse revenue streams
– Intellectual Pfizer is present in almost all the verticals within the industry. This has provided firm in Pfizer: Global Protection of Intellectual Property case study a diverse revenue stream that has helped it to survive disruptions such as global pandemic in Covid-19, financial disruption of 2008, and supply chain disruption of 2021.
Cross disciplinary teams
– Horizontal connected teams at the Intellectual Pfizer are driving operational speed, building greater agility, and keeping the organization nimble to compete with new competitors. It helps are organization to ideate new ideas, and execute them swiftly in the marketplace.
Strong track record of project management
– Intellectual Pfizer is known for sticking to its project targets. This enables the firm to manage – time, project costs, and have sustainable margins on the projects.
Digital Transformation in Global Business segment
- digital transformation varies from industry to industry. For Intellectual Pfizer digital transformation journey comprises differing goals based on market maturity, customer technology acceptance, and organizational culture. Intellectual Pfizer has successfully integrated the four key components of digital transformation – digital integration in processes, digital integration in marketing and customer relationship management, digital integration into the value chain, and using technology to explore new products and market opportunities.
Weaknesses Pfizer: Global Protection of Intellectual Property | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of Pfizer: Global Protection of Intellectual Property are -
Low market penetration in new markets
– Outside its home market of Intellectual Pfizer, firm in the HBR case study Pfizer: Global Protection of Intellectual Property needs to spend more promotional, marketing, and advertising efforts to penetrate international markets.
Ability to respond to the competition
– As the decision making is very deliberative, highlighted in the case study Pfizer: Global Protection of Intellectual Property, in the dynamic environment Intellectual Pfizer has struggled to respond to the nimble upstart competition. Intellectual Pfizer has reasonably good record with similar level competitors but it has struggled with new entrants taking away niches of its business.
High cash cycle compare to competitors
Intellectual Pfizer has a high cash cycle compare to other players in the industry. It needs to shorten the cash cycle by 12% to be more competitive in the marketplace, reduce inventory costs, and be more profitable.
No frontier risks strategy
– After analyzing the HBR case study Pfizer: Global Protection of Intellectual Property, it seems that company is thinking about the frontier risks that can impact Global Business strategy. But it has very little resources allocation to manage the risks emerging from events such as natural disasters, climate change, melting of permafrost, tacking the rise of artificial intelligence, opportunities and threats emerging from commercialization of space etc.
Compensation and incentives
– The revenue per employee as mentioned in the HBR case study Pfizer: Global Protection of Intellectual Property, is just above the industry average. Intellectual Pfizer needs to redesign the compensation structure and incentives to increase the revenue per employees. Some of the steps that it can take are – hiring more specialists on project basis, etc.
High dependence on star products
– The top 2 products and services of the firm as mentioned in the Pfizer: Global Protection of Intellectual Property HBR case study still accounts for major business revenue. This dependence on star products in has resulted into insufficient focus on developing new products, even though Intellectual Pfizer has relatively successful track record of launching new products.
Slow to strategic competitive environment developments
– As Pfizer: Global Protection of Intellectual Property HBR case study mentions - Intellectual Pfizer takes time to assess the upcoming competitions. This has led to missing out on atleast 2-3 big opportunities in the industry in last five years.
Lack of clear differentiation of Intellectual Pfizer products
– To increase the profitability and margins on the products, Intellectual Pfizer needs to provide more differentiated products than what it is currently offering in the marketplace.
Slow to harness new channels of communication
– Even though competitors are using new communication channels such as Instagram, Tiktok, and Snap, Intellectual Pfizer is slow explore the new channels of communication. These new channels of communication mentioned in marketing section of case study Pfizer: Global Protection of Intellectual Property can help to provide better information regarding products and services. It can also build an online community to further reach out to potential customers.
High operating costs
– Compare to the competitors, firm in the HBR case study Pfizer: Global Protection of Intellectual Property has high operating costs in the. This can be harder to sustain given the new emerging competition from nimble players who are using technology to attract Intellectual Pfizer 's lucrative customers.
Workers concerns about automation
– As automation is fast increasing in the segment, Intellectual Pfizer needs to come up with a strategy to reduce the workers concern regarding automation. Without a clear strategy, it could lead to disruption and uncertainty within the organization.
Opportunities Pfizer: Global Protection of Intellectual Property | External Strategic Factors
What are Opportunities in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The opportunities highlighted in the Harvard Business Review case study Pfizer: Global Protection of Intellectual Property are -
Use of Bitcoin and other crypto currencies for transactions
– The popularity of Bitcoin and other crypto currencies as asset class and medium of transaction has opened new opportunities for Intellectual Pfizer in the consumer business. Now Intellectual Pfizer can target international markets with far fewer capital restrictions requirements than the existing system.
Loyalty marketing
– Intellectual Pfizer has focused on building a highly responsive customer relationship management platform. This platform is built on in-house data and driven by analytics and artificial intelligence. The customer analytics can help the organization to fine tune its loyalty marketing efforts, increase the wallet share of the organization, reduce wastage on mainstream advertising spending, build better pricing strategies using personalization, etc.
Increase in government spending
– As the United States and other governments are increasing social spending and infrastructure spending to build economies post Covid-19, Intellectual Pfizer can use these opportunities to build new business models that can help the communities that Intellectual Pfizer operates in. Secondly it can use opportunities from government spending in Global Business sector.
Finding new ways to collaborate
– Covid-19 has not only transformed business models of companies in Global Business industry, but it has also influenced the consumer preferences. Intellectual Pfizer can tie-up with other value chain partners to explore new opportunities regarding meeting customer demands and building a rewarding and engaging relationship.
Using analytics as competitive advantage
– Intellectual Pfizer has spent a significant amount of money and effort to integrate analytics and machine learning into its operations in the sector. This continuous investment in analytics has enabled, as illustrated in the Harvard case study Pfizer: Global Protection of Intellectual Property - to build a competitive advantage using analytics. The analytics driven competitive advantage can help Intellectual Pfizer to build faster Go To Market strategies, better consumer insights, developing relevant product features, and building a highly efficient supply chain.
Buying journey improvements
– Intellectual Pfizer can improve the customer journey of consumers in the industry by using analytics and artificial intelligence. Pfizer: Global Protection of Intellectual Property suggest that firm can provide automated chats to help consumers solve their own problems, provide online suggestions to get maximum out of the products and services, and help consumers to build a community where they can interact with each other to develop new features and uses.
Manufacturing automation
– Intellectual Pfizer can use the latest technology developments to improve its manufacturing and designing process in Global Business segment. It can use CAD and 3D printing to build a quick prototype and pilot testing products. It can leverage automation using machine learning and artificial intelligence to do faster production at lowers costs, and it can leverage the growth in satellite and tracking technologies to improve inventory management, transportation, and shipping.
Identify volunteer opportunities
– Covid-19 has impacted working population in two ways – it has led to people soul searching about their professional choices, resulting in mass resignation. Secondly it has encouraged people to do things that they are passionate about. This has opened opportunities for businesses to build volunteer oriented socially driven projects. Intellectual Pfizer can explore opportunities that can attract volunteers and are consistent with its mission and vision.
Learning at scale
– Online learning technologies has now opened space for Intellectual Pfizer to conduct training and development for its employees across the world. This will result in not only reducing the cost of training but also help employees in different part of the world to integrate with the headquarter work culture, ethos, and standards.
Leveraging digital technologies
– Intellectual Pfizer can leverage digital technologies such as artificial intelligence and machine learning to automate the production process, customer analytics to get better insights into consumer behavior, realtime digital dashboards to get better sales tracking, logistics and transportation, product tracking, etc.
Reforming the budgeting process
- By establishing new metrics that will be used to evaluate both existing and potential projects Intellectual Pfizer can not only reduce the costs of the project but also help it in integrating the projects with other processes within the organization.
Reconfiguring business model
– The expansion of digital payment system, the bringing down of international transactions costs using Bitcoin and other blockchain based currencies, etc can help Intellectual Pfizer to reconfigure its entire business model. For example it can used blockchain based technologies to reduce piracy of its products in the big markets such as China. Secondly it can use the popularity of e-commerce in various developing markets to build a Direct to Customer business model rather than the current Channel Heavy distribution network.
Building a culture of innovation
– managers at Intellectual Pfizer can make experimentation a productive activity and build a culture of innovation using approaches such as – mining transaction data, A/B testing of websites and selling platforms, engaging potential customers over various needs, and building on small ideas in the Global Business segment.
Threats Pfizer: Global Protection of Intellectual Property External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats mentioned in the HBR case study Pfizer: Global Protection of Intellectual Property are -
Instability in the European markets
– European Union markets are facing three big challenges post Covid – expanded balance sheets, Brexit related business disruption, and aggressive Russia looking to distract the existing security mechanism. Intellectual Pfizer will face different problems in different parts of Europe. For example it will face inflationary pressures in UK, France, and Germany, balance sheet expansion and demand challenges in Southern European countries, and geopolitical instability in the Eastern Europe.
Regulatory challenges
– Intellectual Pfizer needs to prepare for regulatory challenges as consumer protection groups and other pressure groups are vigorously advocating for more regulations on big business - to reduce inequality, to create a level playing field, to product data privacy and consumer privacy, to reduce the influence of big money on democratic institutions, etc. This can lead to significant changes in the Global Business industry regulations.
Learning curve for new practices
– As the technology based on artificial intelligence and machine learning platform is getting complex, as highlighted in case study Pfizer: Global Protection of Intellectual Property, Intellectual Pfizer may face longer learning curve for training and development of existing employees. This can open space for more nimble competitors in the field of Global Business .
Barriers of entry lowering
– As technology is more democratized, the barriers to entry in the industry are lowering. It can presents Intellectual Pfizer with greater competitive threats in the near to medium future. Secondly it will also put downward pressure on pricing throughout the sector.
Consumer confidence and its impact on Intellectual Pfizer demand
– There is a high probability of declining consumer confidence, given – high inflammation rate, rise of gig economy, lower job stability, increasing cost of living, higher interest rates, and aging demography. All the factors contribute to people saving higher rate of their income, resulting in lower consumer demand in the industry and other sectors.
Technology acceleration in Forth Industrial Revolution
– Intellectual Pfizer has witnessed rapid integration of technology during Covid-19 in the Global Business industry. As one of the leading players in the industry, Intellectual Pfizer needs to keep up with the evolution of technology in the Global Business sector. According to Mckinsey study top managers believe that the adoption of technology in operations, communications is 20-25 times faster than what they planned in the beginning of 2019.
Increasing wage structure of Intellectual Pfizer
– Post Covid-19 there is a sharp increase in the wages especially in the jobs that require interaction with people. The increasing wages can put downward pressure on the margins of Intellectual Pfizer.
Shortening product life cycle
– it is one of the major threat that Intellectual Pfizer is facing in Global Business sector. It can lead to higher research and development costs, higher marketing expenses, lower customer loyalty, etc.
Technology disruption because of hacks, piracy etc
– The colonial pipeline illustrated, how vulnerable modern organization are to international hackers, miscreants, and disruptors. The cyber security interruption, data leaks, etc can seriously jeopardize the future growth of the organization.
New competition
– After the dotcom bust of 2001, financial crisis of 2008-09, the business formation in US economy had declined. But in 2020 alone, there are more than 1.5 million new business applications in United States. This can lead to greater competition for Intellectual Pfizer in the Global Business sector and impact the bottomline of the organization.
Increasing international competition and downward pressure on margins
– Apart from technology driven competitive advantage dilution, Intellectual Pfizer can face downward pressure on margins from increasing competition from international players. The international players have stable revenue in their home market and can use those resources to penetrate prominent markets illustrated in HBR case study Pfizer: Global Protection of Intellectual Property .
Aging population
– As the populations of most advanced economies are aging, it will lead to high social security costs, higher savings among population, and lower demand for goods and services in the economy. The household savings in US, France, UK, Germany, and Japan are growing faster than predicted because of uncertainty caused by pandemic.
Trade war between China and United States
– The trade war between two of the biggest economies can hugely impact the opportunities for Intellectual Pfizer in the Global Business industry. The Global Business industry is already at various protected from local competition in China, with the rise of trade war the protection levels may go up. This presents a clear threat of current business model in Chinese market.
Weighted SWOT Analysis of Pfizer: Global Protection of Intellectual Property Template, Example
Not all factors mentioned under the Strengths, Weakness, Opportunities, and Threats quadrants in the SWOT Analysis are equal. Managers in the HBR case study Pfizer: Global Protection of Intellectual Property needs to zero down on the relative importance of each factor mentioned in the Strengths, Weakness, Opportunities, and Threats quadrants.
We can provide the relative importance to each factor by assigning relative weights. Weighted SWOT analysis process is a three stage process –
First stage for doing weighted SWOT analysis of the case study Pfizer: Global Protection of Intellectual Property is to rank the strengths and weaknesses of the organization. This will help you to assess the most important strengths and weaknesses of the firm and which one of the strengths and weaknesses mentioned in the initial lists are marginal and can be left out.
Second stage for conducting weighted SWOT analysis of the Harvard case study Pfizer: Global Protection of Intellectual Property is to give probabilities to the external strategic factors thus better understanding the opportunities and threats arising out of macro environment changes and developments.
Third stage of constructing weighted SWOT analysis of Pfizer: Global Protection of Intellectual Property is to provide strategic recommendations includes – joining likelihood of external strategic factors such as opportunities and threats to the internal strategic factors – strengths and weaknesses. You should start with external factors as they will provide the direction of the overall industry. Secondly by joining probabilities with internal strategic factors can help the company not only strategic fit but also the most probably strategic trade-off that Intellectual Pfizer needs to make to build a sustainable competitive advantage.