Week 88 (21.12.08)

Learn (Exploring Corporate Strategy - Pg 19)

• The mission of an organisation tries to encapsulate its purpose.
• The issue of corporate governance is important.
• The question is: which stakeholder group should the organisation primarily serve and how should managers be held responsible for this?
• The expectations of different stakeholders affect purpose and what will be seen as acceptable in terms of strategies advocated by management.
• Which views prevail will depend on which group has the greatest power, and understanding this can be of great importance in recognising why an organisation follows the strategy it does.
• Cultural influences from within the organisation and from the world around it also influence the strategy an organisation follows. All of this raises ethical issues about what managers and organisations do and why.

Together, a consideration of the environment, strategic capability, the expectations and the purposes within the cultural and political framework of the organisation provides a basis for the strategic analysis of an organisation.

Hence, Is the current strategy capable of dealing with the changes taking place in the organisation's environment? Is it likely to deliver the results expected by influential stakeholders?

Unlearn

NIL

Relearn

Reflecting on what i have learnt above; Pfizer's mission is encapsulating its' purpose. Our mission and purpose as below:

Our Purpose:

Work Together For a Healthier World

Our Mission:

Applying Innovative Science to Improve World Health

The corporate governance for the pharmaceutical industry is the requirements for all ethical companies to comply to the Pharmaceuticals Association of Malaysia's (PhAMA) Code of Conduct and the Foreign Corrupt Practices Act (FCPA) in the United States.