Introduction GlaxoSmithKline (GSK) is a pharmaceutical company which also deals with , vaccines, biologics and consumer healthcare products. By the measure of revenues its stated to be the worlds third largest pharmaceutical company. GSK headquarters are located in London, United Kingdom where it has a primary listing on London stock Exchange and secondary listing on NewYork Stock Exchange. GSK has a challenging and inspiring mission to improve the quality of human life by enabling people to do more, feel better and live longer.
As on today, GSK is undertaking its responsibilities in access to medicines, research practices, ethical conduct, human rights, environmental sustainability, work with communities and also the most important responsibility of GSK is to respond to societies healthcare needs. GSK encourages scientists to work hard in order to discover new ways of treating and preventing diseases, as their success depends on a vibrant and productive R&D function that encourages creativity and facilitates the accelerated discovery and development of new medicines. GSK acknowledges the presence of low pharmaceuticals in the environment.
GSK CEO Andrew Witty recently wrote an essay focusing on the future of the pharmaceutical industry for 2011 and beyond. which was published as The World in 2011. Around one lakh of employees work in GSK’s where on survey stated that the culture is very comfortable, respectful and supportive. GSK is present in almost 100 cities across 39 countries. Summary of the Scenarios A scenario planning is that part of strategic planning which relates to the tools and technologies for managing the uncertainties of the future like what future conditions and events are probable, what their consequences or effects would be like, and 3) how to respond to, or benefits from, them.
Based on current trends the different scenarios are constructed. The current trends includes social, economical, political, technological, environmental and issues respectively. With the help of forces affecting these factors and trends, the certainty axis are developed which results in different scenarios. Scenario-I With the help of PEST analysis the scenario I is been constructed. The currency collapse is felt globally. The total trade, stock exchanges, imports & exports, between two countries will be affected.
More and more people are being affected by deadly and seasonal diseases, so to overcome these diseases the awareness programmes are being held for the prevention. Due to the compromised living status the depression levels has been increased and also people started to smoke at the younger age. In many pharmaceutical industries the testing practices are often cruel and are unnecessary, like testing animals for personal healthcare and also non-medical consumer healthcare products which results in the decrease in the quality of living.
The fast rate of production of new medicines, when put in to actions may cause severe side effects which is due to insufficient research. Age limits and also older people population has been increased. Scenario-II Scenario II is been constructed with the help of PEST analysis. People are totally worried about their health and also more and more attention is paid on the prevention of new diseases. Due to erratic environmental changes new diseases are fast emerging such as swine flu, etc.
In the current situation the markets are been shifted to asia which is due to the collaboration of nations in to the emerging markets. Many countries like India and China have increased national income growth boosts demand for firms project. People trust governments as it supports the existence of the private insurance company and also funds programmes for the pharmaceutical companies. Government are increasing pressure on pharmaceutical firms to act in the social interest. In some countries like UK, government supports for the technological development and its innovation.
Price uniformity of the medicines and tax reduction for donations to research programmes is done in many countries in order to gain the trust for people with the governments. Scenario III With the help of PEST analysis scenario III is been constructed. In this the companies collaborate and merge in order to come with new advancement, due to this there is an increase in the vulnerability to disease. Some companies also make use of unethical policies for further advancement such as treating animals for personal healthcare products.
Lately there is been a vast increase in mental stress and depression as a result of work overload, unemployment, increase in the new diseases and cut off on the insurance by the government. Companies invest more and more money in R&D which are used in the development of stem cells research, genetic science ,and synthetic biology. Companies also invest more money for the development of radical materials such as bullet capsule and instruments which are used as screening. Threats Some of the threats faced by the above scenarios are:
Scenario I The major threat of this scenario is the incoming of new diseases. The new diseases are sometimes deadly and harmful to the human evolution. Some of the new diseases are AIDS, different types of cancer, swine flu and etc which do not have any treatment for today. As a result of these diseases people also suffer from mental depression. Side effects of new medicines causes chronic problems. Decrease in the quality of living because of unemployment, work stress, mental stress, currency collapse.
Currency collapse is felt globally because many companies are located in different countries and have to cope up with ups and downs of the currency. Scenario II For the collaboration of nations, markets have been shifted to asia and china. This may be one of the major threat because as a current trend the market is towards asia and before some years it was towards west. This shift is due to the high instability of markets within the nations. In some cases government encourages funds to only those companies which can have a financial benefits from the respective companies.
Government funds a huge sum to the army equipment’s rather for the research and development units. Increase in income for the insurance company as government support the private insurance companies Scenario III Increase in work load, mental pressure, mental stress may lead to increase in depression which results in poor health conditions, smoking at younger age, low stability to diseases. All these actions and reactions are directly proportional to each other. Sometimes collaboration and merging of companies may result in the loss of competitive advantages and also bear the risk of unsuccessful integrate.
DNA research and testings are really expensive which cannot be covered under patients insurance policy. Some genetic testings indicates only the possibilities, which are not 100% certain and also results in the risk of genetic disorders. Opportunities In Scenarios Collaboration and merging results in more resource for future growth and also takes an advantage of economy of scale Trust in governments may lead to the development towards cloud computing and their governments.
Increase in funds to R&D results in increase in new medicines and decrease in new diseases Decrease in work load leads to decrease in the mental and depression levels Decrease in unemployment results in less health issues, and depression levels More and more health awareness programmes results in prevention of diseases People trust in new technologies leads to the development in the growth of robotics (human intelligence) More fundings by the government for the development of radical materials such as bullet capsule and their instruments which are used for screening Any species cannot be extinct if there is a decrease in cruel animal testing and unethical activities by the companies.
Western companies can empower their relations more with eastern countries Insecurity between two countries leads to the globalisation among those countries. More and more funds for stem cell research results in curing of many medicines, decrease in death rate, and production of new pharmaceutical products Uniformity of price in medicines results to easy access of drugs to everyone New diseases leads to the inventory of new drug which results I the increase in the revenue of the company.