Mngmgnt Company Projct

NAME OF GROUP MEMBERS REG NO.WAQAR AHMED 24357

MURTAZA SAIFUDDIN 25886MUHHAMMAD WAQAR KHAN 10076

SYED FAISAL RAZA ZAIDI 26471Ahad altaf Hussain 25808

NAME OF THE COMPANYABBOTT LABORATORIES

DATE OF SUBMISSION26/NOV/2015

INSTRUCTOR NAMEMA’AM UMM-E-SUMAYYA

COURSE NAMEPRINCIPLE OF MANAGEMENT

UNIVERSITY NAMEIQRA UNIVERSITY

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ABBOTT LABORATORIES [2015]

ACKNOWLEDGEMENT

This report couldn’t be completed without the support of our most supportive teacher Ma’am Umm-e-sumayyaand of course the company’s staff that guided us about the company’s profile. First Of all, wewould like to thank Ma’amUmm-e-sumayyafor being an excellent instructor. It means a lot to us that she stepped up when we needed her the most and took on the responsibility of guiding us in the right direction. Furthermore, she pushed us to think outside the box and challenged us to look beyond what is right in front of us. Without her support we would not have been able to complete this report. For these reasons and many more, we will be forever grateful.

Secondly, we would like to thank the team of ABBOTT LABORATOIESfor answering our queries about their organization and for giving their precious time to us. We would like to thank our parents who always provided us with motivation and for their continued support throughout our life, financially and emotionally, and for instilling in us their morals and values.

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EXECUTIVE SUMMARY

1. “ABBOTT” is an American health care company under which they had

introduced a pharmaceutical company named as “ABBVIE”.

2. They have 70,000 employees worldwide and a global presence in more than

130 countries.

3. Abbott started operations in Pakistan as a marketing affiliate in 1948; the company has steadily expanded to comprise a work force of over 1500 employees. Currently two manufacturing facilities located at Landhi and Korangi in Karachi continue to use innovative technology to produce top quality pharmaceutical products.

4. Gross profit margin of the company is 15 times the industry average.

5. Abbott has a thread of low prices which is the major thread of that company.6. Total number of employees in the ABBOTT Pakistan are 1400 which are

permanent and 3,000 which are temporary. There are 7 departments in the ABBOTT. (Production, Material Management, Supply Chain, Administration, Security, Human Resource Management, Marketing department).

7. The environment of ABBOTT is Dynamic& Organic because they use to change according to the need and they are flexible enough to make them adjust in any type of situation.Abbott is working through a TALL structure which has different departments for different products manufactured by them. PRODUCT Departmentalization is being used in Abbott.

8. They have keep this thing in mind that “SAFETY COMES FIRST”.

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TABLE OF CONTENTS

S.NO. DESCRIPTION PAGE NO.

1. COMPANY DESCRIPTION 1-32. PLANNING

MISSION AND VISIONPOLICIES (RULES/REGULATIONS)

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3. GOALS AND PLANS 5

4. CORE COMPETENCIES (SUSTAINABLE COMPETETIVE ADVANTAGE)

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5. SWOT ANALYSIS 7-86. BCG MATRIX

CONSUMER ANALYSIS/TARGET MARKET9

7. ORAGNIZINGHIERARCHY / ORGANOGRAM

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8. NO. OF EMPLOYEE AND DEPARTMENTCULTURE

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9. TYPE OF ENVIRONMENTENVIRONMENTAL UNCERTAINITY

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10. LEADINGMOTIVATING EMPLOYEESDIVERSITY

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11. LEADERSHIP STYLE 14

12. CONTROLLINGPERFORMANCE MEASURESTANDARD AND QUALITY CHECK

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13. CONCLUSION 16

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SECTION 1

COMPANY DESCRIPTION

We are a global, broad-based health care company devoted to discovering new medicines, new technologies and new ways to manage health. Our products span the continuum of care, from nutritional products and laboratory diagnostics through medical devices and pharmaceutical therapies. Our comprehensive line of products encircles life itself – addressing important health needs from infancy to the golden years.With over 70,000 employees worldwide and a global presence in more than 130 countries, Abbott is committed to improving people's lives by providing cost effective health care products and services that consistently meet the needs of our customers.Abbott Pakistan is part of the global healthcare corporation of Abbott Laboratories, Chicago, USA.Abbott started operations in Pakistan as a marketing affiliate in 1948; the company has steadily expanded to comprise a work force of over 1500 employees. Currently two manufacturing facilities located at Landhi and Korangi in Karachi continue to use innovative technology to produce top quality pharmaceutical products.Abbott Pakistan has leadership in the field of Pain Management, Anesthesia, Medical Nutrition and Anti-Infective. Our wide range of products is managed and marketed through three marketing arms.On June 29, 2005 Abbott Pakistan Achieved Class 'A' accreditation against the Oliver Wight ABCD Check list. This was an outstanding achievement, which puts

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Abbott Pakistan amongst some of the best global companies in terms of operational excellence.A continuous process of innovation, research and development at Abbott's worldwide facilities enables Abbott Pakistan to offer effective solutions for various healthcare challenges, with products and services that are well focused, within the customer's reach and contribute to improved health care of the people of Pakistan.THEME:Life to the fullest.[Our total focus is towards helping people to live their best lives. With the best possible healthcare solutions, we strive for making a difference and enriching the lives of people in our country. Offering a broad range of innovative solutions, our presence is felt in the market]. Abbott believes that Corporate Social Responsibility is fundamental to earning and deepening the trust of the people it serves, an integral part of its commitment to improve lives has contributed to a number of humanitarian causes and supported various institutions in various fields including health and education.The promise of our company is in the promise that our work holds for health and for life.

PRODUCTS MADE BY ABBOTT:INFANTSYOUTHSIMILAC BRUFEN DSRASHIL PEDIASUREISOMIL VIDAYLINBRUFEN SUSPENSION KLARICID DSVIDAYLIN DROPS EPIVAL SYRUP KLARICID ENTAMIZOLE SYRUP

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ADULTS SENIORSSURBEX-Z ENSURE

DUPHASTON CITRO-SODA

ABOCAL FREESTYLE OPTIUM

DUPHALAC SYRUP FAVERIN

SERC ARTIFEN

GANATON PRMETFA

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PLANNING

MISSION:

To deliver consistently superior product and services which contribute significantly to improve the quality life of the consumers.

VISION:

To be the most admired healthcare company in Pakistan.

POLICIES (RULES/REGULATIONS):

ANIMAL WELFARE POLICY: Abbott is committed to humane treatment of all laboratory animals.

ENVIRONMENTAL POLICY: Abbott works to protect both human health and environment.

GLOBAL PRODUCT PROTECTION: Abbott prevent counterfeiting, diversion and theft of our product.

ANTI-CORRUPTION TRAINING: Abbott is committed to conducting business ethically and legally.

OTHER DISCLOSURES: Abbott complies with state, federal and international regulations.

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GOALS AND PLANS:

Abbott Laboratories aims to provide branded products and services of superior

quality and value that improve the lives of the world’s consumers, now and for the

generations to come. As a result, consumers will provide the company with

leadership sales, profit and value creation, allowing our people, our shareholders

and the communities in which we live and work to prosper.

CORE COMPETENCIES&

SUSTAINABLE COMPETITIVE ADVANTAGE

The competitive advantage of ABBOTT is their employee and the man power.

Their man power and employees are the things which differeniate them from other

Pharma companies.

STRATEGIC FOCUS AND PLANS:

Consumer Understanding:

Each year, ABBOTT interacts with nearly 5 million consumers in over 60

countries worldwide. It is necessary to gain insight on consumer

understanding in order to discover innovation opportunities and to find ways

in which the company can better serve its customers. It is especially

important for P&G to recognize and adjust to cultural differences among its

international markets.

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Brand Building:

ABBOTT currently has 23 brands within its product portfolio that

individually generate over one billion dollars in sales annually. P&G also

has 20 brands that generate half of a billion dollars in annual sales.

Combined, these 43 brands account for 85% of ABBOTT total sales and

90% of its profit. The company maintains the strongest‐performing portfolio

of brands within its industry. Moreover, it maintains its key competitive

advantage for the overall success of the firm.

Innovation:

Procter and Gamble is the industry leader in terms of innovation. Each year

in the U.S., it is ranked at the top for the best-selling new products within the

consumer market.

Scale:

Procter and Gamble is able to take advantage of its ability to operate on a

large scale. This allows P&G to share processes and procedures among the

categories under which they operate.

SWOT ANALYSIS:

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STRENGHTS The large scale on which ABBOTT operates is one of its strengths. It is a

global leader for different product categories are the strength.

The company has a vast experience in oral and personal hygiene products.

It has an extensive experience in marketing in different market segments and

is one of the best marketers in the world.

ABBOTT is tightly integrated with some of the largest retailers and

distributions channels all over the world.

Gross profit margin of the company is 15 times the industry average.

ABBOTT is known for its diverse brand portfolio. The company is able to

customize its global products and brands according to local preferences.

Abbott invests greately in its research and development. About $2billion are

invested every year by Abbott for improving and introducing new products.

The end-consumer understanding of ABBOTTand its large database of

consumers make its research and development strong.

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WEAKNESSES:

ABBOTT havenot disclosed their weaknesses as it is the confidencial matter.

OPPORTUNITIES:

ABBOTT offer different oportunity to their employees and ABBOTT do have the

oportunity of capturing higher market shares by investing more plant in different

areas.

THREATS:Abbott has a thread of low prices which is the major thread of that company. Government agencies ask for bribe for the approval of the medicine but ABBOTT stand still against this and work legally according to the law.

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BCG MATRIX :

HIGH LOW

STARSSURBEX&ABOCAR

QUESTION MARK

COUGH CALL

CASH COWSENSURE

DOGSRIBUFEN

CONSUMER ANALYSIS

TARGET MARKET :

ABBOTT do offer many products and the target market are akk the sick and ill people. Abbott do have age segritation when they offer syrups for the under 18 and Pills for the over 18.

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MARKET SHARE

MARKET

GROWTH

HIGH

LOW


SECTION 2

ORGANIZATION

HIERARCHY/ORGANOGRAM:

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NO. OF EMPLOYEE AND DEPARTMENT:

Total number of employees in the ABBOTT are 1400 which are permanent and 3,000 which are temporary.

There are divisions in multinational company & there are 7 departments in the ABBOTT.

1. Production department2. Material Management department3. Supply Chain department4. Administration department5. Security department6. Human Resource Management department7. Marketing department

CULTURE (CUSTOMER RESPONSIVE / ETHICAL / INNOVATIVE / SPRITUAL):

Abbott is committed to conducting business ethically and legally. Procter and

Gamble is the industry leader in terms of innovation. Each year in the U.S., it is

ranked at the top for the best-selling new products within the consumer market.

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ENVIRONMENTAL UNCERTAINITY:

TYPE OF ENVIRONMENT (DYNAMIC/STABLE, MECHANISTIC/ORGANIC):

The environment of ABBOTT is dynamic& organic because they use to change according to the need and they are flexible enough to make them adjust in any type of situation.

TYPE OF STRUCTURE DESIGN: Abbott is working through a TALL structure which has different departments for different products manufactured by them.

FORM OF DEPARTMENTALIZATION USE IN ABBOTT: PRODUCT Departmentalization is being used in Abbott.

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ABBOTT

LIES IN CELL 3


SECTION 3

LEADING

MOTIVATING EMPLOYEES: ABBOTT use two type of motivation which are monetary and non-

monetary ways to motivate their employees. Monetary are the rewards like bonus, increments and other rewards

regarding the money effect. Non-monetary are like the social gathering of the employees and the

Eid-milan parties and Picnics.

DIVERSITY:

The labor force of ABBOTT mainly consists of female and almost 70 % of workers are female and rest of them are males. Whereas in the managerial positions there are almost 80 % are males and rest of the managers are females.

The culture of the employee may vary but the Islamic culture is common in the organization.

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LEADERSHIP STYLE:

The managers of the ABBOTT follow the style of laissez faire because they have left the employees under them after giving them the tasks and goal. They leave them to do the job in their own creative style and the leader at the end just analysis the performance of the employee.

Abbott enjoys leadership position in many therapeutic areas like vitamins, central nervous system/pain, cough and cold, women health etc. With patients at center of our thinking we also offer portfolio solutions in the categories like pediatrics, women health, gastroenterology, respiratory, central nervous system/pain, diabetes, and nutrition and laboratory diagnostics.

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SECTION 4

CONTROLLING

PERFORMANCE MEASURE:

ABBOTT has prepared the TMS known as TALENT MANAGEMENT SYSTEM to evaluate the performance of their employee. TMS is an online evaluation portal for the employee. Employees are given their JD “JOB DESCRIPTION” and their goals for the job, then after the month the online portal evaluate their performance electronically.

STANDARD AND QUALITY CHECK:

ABBOTT is certified with ISO and ABBOTT is also certified with the Class A and the Class A+.

They have set their standards too high and they have been certified by the standards and they have cleared the quality check of ISO and many other drug inspector.

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CONCLUSION:

We have visited the ABBOTT and we have also visited the production department and we saw the procedure of making products were standardize. They have keep this thing in mind that “SAFETY COMES FIRST”.

We personally have learn a lot by visiting the ABBOTT, we have learn the corporate environment and the practices done in the corporate world.

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Mngmgnt Company Projct

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