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GlaxoSmithKline's business is to discover effective medicines and healthcare products for people throughout the world and create shareholder value

Extracts from this document...

Introduction

INTRODUCTION The business that I have done research into is GlaxoSmithKline. This company is a globalised research-based pharmaceutical public limited company. Its ownership structure has changed a great deal since the original company was first established in 1715. Originally a pharmacy, the company has expanded, merged with and taken over other companies over the decades. The last of these was the merger between Glaxo Wellcome and SmithKline Beecham, which formed the current company of GlaxoSmithKline. GlaxoSmithKline's business is to discover effective medicines and healthcare products for people throughout the world and create shareholder value. They are one of the world's leading producers of prescription medicines, vaccines and consumer healthcare products (Toiletries, Drinks). These products include SEROXAT/PAXIL, AUGMENTIN, WELLBUTRIN and ZOTRAN, all of which are pharmaceutical products. AQUAFRESH, LUCOZADE, NIQUITIN CQ and SENSODYNE, these are known as consumer healthcare products. HEPATITUS and INFANRIX, which are vaccines. The company provides over 7% of the total global pharmaceutical sales and supply 24% of the world's vaccines. They manufacture and distribute more than 10 million packs of medicine every day. GlaxoSmithKline now has a Board of 13 Directors, and a further 15 members of The Corporate Executive Team. These members are the Presidents of the various global and national departments. Below I have set out a table to show the Advantages and Disadvantages of a public limited company. ADVANTAGES DISADVANTAGES Shares offered for sale on the stock exchange, so that large amounts of capital can be generated Shareholders protected by limited liability, only liable for the investment put in Profits shared out in dividends, usually paid once a year Run by directors Two - unlimited amount of shareholders Subject to shareholders decisions, ordinary shareholders are entitled to vote at AGM's Yearly published reports Yearly published and audited accounts Control of the business can be lost if large quantities of shares are obtained by rival companies The issue of shares can be expensive so only appropriate for raising very large sums of capital A public limited company must ...read more.

Middle

Qualified veterinarians are available at all times for advice and help in the care of the animals and the conduct of the research. ORGANISATIONAL CULTURE The organisation cultures are the patterns of behaviour, values, beliefs and systems that characterise an organisation. It is basically the way an organisation does things. The organisational culture of GlaxoSmithKline is that of a Role culture and Task culture. A Role culture because all the management and staff have there own specific defined part in the running of the company. The company is divided into functions and within each of these functions, position and roles are the main sources of influence. As there are strict rules that must be adhered to, especially regarding R&D, manufacturing and security, employees are expected to stick to these regulations. The company has a skilled workforce who are trained and developed and who are all working towards delivering high quality products. A Task culture because of the highly competitiveness of the industry, the company seeks to maximise profits and increase their sales and market share, and deliver good profits. There are regular meetings where staff are informed of work practices and at these meetings staff are encouraged to participate fully. In certain areas of the Company the staff work in teams to complete projects. This is particularly applicable in R&D, Legal, Human Resources and Sales and Marketing departments. Staff are also encouraged to work together and get involved in the Community Investment Programmes and 'make a difference' throughout their own communities. The staff are valued, encouraged and are all working together to achieve the company's aims and objectives. The solid foundations that GlaxoSmithKline has been built upon have lead to the creation of today's organisation. This has largely been due to the pioneering exploits of individuals of yesteryear. The Group is a forward-facing company, they are willing to change, and be innovative throughout the whole company, but still guaranteeing the safety and quality of its products. ...read more.

Conclusion

These are efficient because as the company has grown and become a global company, the functions have been reviewed and are continuously revamped to become as efficient as they are today. The Group has programs that it designs and follows to fulfil its own potentials, to get the best results throughout the world, from within each department. They interact effectively because the aims and objectives of the Company are intertwined in each department and all employees are working towards the same goals. GlaxoSmithKline expect a high standard of its employees and this is one of its 'Leadership Essentials'- 'Performance with Integrity'. GSK Website 'Our global quest is to improve the quality of human life by enabling people to do more, feel better and live longer.' This is a common goal within GlaxoSmithKline that is always being stressed, and as this aim is always innovated, employees feel that their jobs are a process to help people within the global community. This is implemented within every department of the global company, from the senior management right down to the cleaners, and as every employee within the company feels they have an important role to fulfil, their inputs and performance are at a high level. An alternative approach to the total quality management assurance that GlaxoSmithKline has in operation could be to implement quality assurance to all its activities. This would be a reduced quality system and the effect that it would have on the functions within the business as a whole, would be that it might prohibit the already efficient practices from continuing. This would therefore have a knock-on effect to reduce the overall production sites and effectiveness of the other parts of the company. The practices already in place help the Group to achieve its objectives by; Continually reviewing its source of supply-This meets the objective of focus on performance, supply and cost Continually applying quality management-This meets the objectives of absolute attention to compliance and team work and talent expression Continually benchmarking other companies- This meets the objective of focusing on their own performances to meet the aim of being a world leader. ...read more.

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