A belief in superior quality and service. This motivates them to deliver no less than superior quality and service both to people within the company and more importantly, to the people who make up the company’s market. • A belief that most members of the organization should be innovators and its corollary that the organization should be willing to support failure. This encourages them to try to produce or discover new things without fear of ridicule and rejection, which will only do harm.
Such fear represses the creativity that ought to be harnessed and used for new and better products for the company. • A belief that informality enhances communication. This leads the people in the organization to be open and to exercise candor when interacting with one another. Stiff and stern formality inhibits spontaneity. Informality in the working place breeds closer ties among the people therein. Ideas and suggestions flow and from there great plans can be hatched, worked on and actualized. • A belief in and recognition of the importance of economic growth and profits.
Companies should strive for profitability as the means for attaining sustainability of its operations. When the employees of a company have an adequate appreciation of the revenues and costs that each activity in the company can translate to, it makes them conscientious when it comes to incurring expenses and it turns them into more convincing salespeople when talking about the company’s products and services. They all become involved in improving the company’s income figures, knowing that doing so would somehow contribute to the company’s growth and profitability.
IA The company has earned a total net profit amounting to 5. 498 billion pounds during the year 2006. This represents an increase of 17 percent as compared to 2005. This is a clear sign of the company’s success in marketing its products and services. Total turnover or sales for the years 2006 and 2005 amounted to 23,225 billion and 21,660 billion, respectively, representing a 9 percent increase. All these demonstrate the company’s solid place in the market as a company whose products represent good quality and high standards.
The figures further show that GlaxoSmithKline is managed well by leaders who ensure that operations go smoothly, that costs will never go so high and that sales volumes will keep growing. IB GlaxoSmithKline’s customers particularly value the company behind the GSK-branded medicine products that they buy. They pay for the relief and cure that the medicine provides, and they pay for the peace of mind that comes from knowing the medicines they take in are safe and were manufactured by GlaxoSmithKline, a company that they trust. IIA
If the company’s competitors five years from now will continue to operate as they do today, they might totally lose their market share. The market is a dynamic entity; its demands and needs never cease to change and evolve. What is saleable and needed now might be completely useless and unnecessary years later. If the company’s management appreciates this and acts on it while all others have become content with their market share, then the company five years later will emerge as an even bigger and better company. The competitors who did not see any need to innovate and keep growing will have to bow out of the market.