Value Creation and Competitive Strategy (pfizer)

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- Reimagination: Pfizer should reimagine its own business in order to identify customer pain point and come up for the product which can effectively address or reduce the customer pain point.

- One Central Question: Pfizer should always ask one central question about how to increase its profit.

- Shared Value Creation: Pfizer should collaborate with others to speed up scientific progress and share the risks and rewards of developing the most promising product ideas. Shared value creation will enhance its ability to raise new products and endure sales of older but still exclusive medicines and vaccines.

- Retain and protect Value: Pfizer should earn world’s respect by producing advanced therapies, refining access, expanding the dialogue on health care and acting as a responsible corporate citizen.

- Value Migration: Pfizer should strive to build a Whitespace Company by either disrupting or destroying itself and rebound in a more formidable way. Pfizer should pursue Learn → Un-Learn → Re-learn

- Incremental Innovation: Pfizer should pursue fast following, algorithmic and competitor driven innovation in health care solution that will in turn introduce slightly better product in the market. Pfizer should also strive to move from Incremental Innovation to Trans formal innovation, which can be achieved through disruptive innovation.

- Picasso Bull: Pfizer should strive for Picasso Bull: through more iterations until it can simply deliver its solution in a very concise way. Pfizer should encourage diversity in thinking and action, better empowerment among colleagues, and amplified enthusiasm for the mission and purpose of the company.

- Omnichannel Strategy: Pfizer should leverage its omnichannel strategy not only to gather incredible amount of information fast about new market consumers but also to test the market and respond quickly.

- Purity of Brand: Pfizer should emphasize individual liability by encouraging its workforce to explore what integrity means to them and to consider how conducting their daily business with integrity. Pfizer should meet society’s expectation through Pfizer’s robust compliance system, to take an active role in ensuring that those underprivileged who cannot afford their medicines have access to them.

- Economic Value Add (Capital Allocation process): EVA = (PBIDTA (1-Tax)) -(Capital Invested *WACC). Pfizer should focus on EVA for right capital allocation or decision to get rid of personal biases for delivering value to shareholders. EVA should also help to provide flexibility in managing its operations.

- Reverse Innovation: Pfizer should re-engineer global research and development function. Pfizer should exploit reverse innovation to accelerate potential breakthrough therapies with the goal of delivering transformative medicines and vaccines to patients.

- Mass to Customize to Personalize: Pfizer should focus on precision based therapies and medicine to move strategically from Mass → Customize → Personalize healthcare solution.