Harvard Case - Eli Lilly and Co. (A): Globalization
"Eli Lilly and Co. (A): Globalization" Harvard business case study is written by Michael Y. Yoshino, Thomas W. Malnight. It deals with the challenges in the field of Business & Government Relations. The case study is 29 page(s) long and it was first published on : Sep 10, 1990
At Fern Fort University, we recommend that Eli Lilly and Co. adopt a comprehensive globalization strategy that prioritizes sustainable growth through strategic partnerships, innovation, and responsible business practices. This strategy should focus on leveraging Lilly's existing strengths in research and development, manufacturing, and marketing to expand into emerging markets while simultaneously addressing the complex challenges of globalization and corporate social responsibility.
2. Background
Eli Lilly and Co., a leading pharmaceutical company, faced a critical juncture in the late 1990s. The company was grappling with the challenges of globalization, including increasing competition, changing regulatory landscapes, and growing demand for affordable healthcare in developing countries. The case study focuses on the company's decision-making process as it navigated these complex issues, considering its core competencies, competitive landscape, and long-term strategic goals.
The main protagonists are:
- Sidney Taurel, CEO of Eli Lilly and Co., who spearheaded the company's globalization efforts.
- The Lilly leadership team, responsible for developing and implementing the company's strategic direction.
- Global stakeholders, including patients, healthcare providers, governments, and investors, who have a vested interest in Lilly's operations and success.
3. Analysis of the Case Study
This case study can be analyzed through the lens of Porter's Five Forces Framework, which identifies the competitive forces shaping an industry:
- Threat of new entrants: The pharmaceutical industry has high barriers to entry due to the significant costs associated with research and development, regulatory approvals, and manufacturing. However, emerging markets present opportunities for new entrants, potentially increasing competition.
- Bargaining power of buyers: Patients and healthcare providers have limited bargaining power due to their dependence on pharmaceuticals. However, governments and insurance companies, as major buyers, can exert significant influence on pricing and access.
- Bargaining power of suppliers: Suppliers of raw materials and manufacturing components have moderate bargaining power.
- Threat of substitute products: Generic drug manufacturers pose a significant threat, particularly in emerging markets with price-sensitive consumers.
- Competitive rivalry: The pharmaceutical industry is highly competitive, with several large multinational corporations vying for market share.
Key strategic considerations for Eli Lilly:
- Emerging markets: The case study highlights the growing demand for healthcare in developing countries, presenting a significant opportunity for expansion. However, these markets also pose challenges related to infrastructure, regulatory environments, and healthcare access.
- Innovation: Lilly's success has been driven by its commitment to research and development. Maintaining this edge in a globalized market requires continuous investment in innovation and technology.
- Corporate social responsibility: The case study emphasizes the importance of ethical business practices, affordable access to healthcare, and environmental sustainability in emerging markets.
4. Recommendations
Eli Lilly should adopt a three-pronged globalization strategy:
1. Strategic Partnerships:
- Joint ventures: Form strategic partnerships with local pharmaceutical companies in emerging markets to leverage their expertise in distribution, regulatory compliance, and market access.
- Public-private partnerships: Collaborate with governments and non-profit organizations to improve healthcare infrastructure, train healthcare professionals, and increase access to essential medicines.
- Research collaborations: Partner with universities and research institutions in emerging markets to foster innovation and develop solutions tailored to local needs.
2. Innovation and Technology:
- Tailored products: Develop and adapt existing products to address specific health challenges in emerging markets, considering local disease burdens and affordability.
- Technology transfer: Share expertise and technology with local partners to build capacity and promote sustainable development.
- Digital health solutions: Invest in digital health technologies to improve patient care, enhance access to information, and facilitate remote monitoring.
3. Responsible Business Practices:
- Ethical sourcing: Ensure responsible sourcing of raw materials and manufacturing processes to minimize environmental impact and promote fair labor practices.
- Affordable access: Develop pricing strategies that make essential medicines accessible to low-income populations in emerging markets.
- Corporate social responsibility programs: Invest in community development initiatives, education programs, and healthcare outreach to address social and economic challenges in emerging markets.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core competencies: Lilly's strengths in research and development, manufacturing, and marketing are essential for successful globalization.
- External customers: The recommendations prioritize the needs of patients, healthcare providers, and governments in emerging markets.
- Competitors: The recommendations address the competitive landscape by fostering innovation, establishing strategic partnerships, and expanding into new markets.
- Attractiveness: The recommendations are expected to generate long-term value by expanding market share, increasing profitability, and enhancing Lilly's reputation as a responsible global citizen.
6. Conclusion
Eli Lilly's globalization strategy should be guided by a commitment to sustainable growth, innovation, and corporate social responsibility. By leveraging its strengths, forming strategic partnerships, and adapting to the unique challenges of emerging markets, Lilly can achieve its business objectives while contributing to the well-being of communities around the world.
7. Discussion
Alternative strategies include:
- Organic growth: Focusing on internal expansion through direct investment and building new facilities in emerging markets.
- Acquisition: Acquiring existing pharmaceutical companies in emerging markets to gain immediate market access and expertise.
Risks and key assumptions:
- Political instability: Political and economic instability in emerging markets can disrupt operations and create uncertainty.
- Regulatory challenges: Navigating complex and evolving regulatory landscapes in emerging markets can be challenging.
- Cultural differences: Understanding and adapting to cultural differences in emerging markets is crucial for successful business operations.
8. Next Steps
- Develop a detailed implementation plan: Define specific goals, timelines, and resources for each aspect of the globalization strategy.
- Establish a dedicated team: Assemble a team with expertise in international business, emerging markets, and corporate social responsibility.
- Conduct market research: Gather detailed information about the target markets, including healthcare needs, regulatory environments, and competitive landscape.
- Build relationships with key stakeholders: Engage with governments, healthcare providers, and local communities to build trust and facilitate partnerships.
- Monitor progress and adjust as needed: Continuously evaluate the effectiveness of the globalization strategy and make necessary adjustments based on market conditions and stakeholder feedback.
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Case Description
Examines the changes taking place in Eli Lilly in response to the globalization of the pharmaceuticals industry. Identifies the steps taken by management, problems currently faced, and challenges for the future. Allows examination of the process of implementing a global strategy from the headquarters perspective.
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